{
"documentInfo": {
"documentType": "https://xbrl.org/2021/xbrl-json",
"features": {
"xbrl:canonicalValues": true
},
"namespaces": {
"ifrs-full": "https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full",
"iso4217": "http://www.xbrl.org/2003/iso4217",
"scheme": "http://standards.iso.org/iso/17442",
"ts": "http://www.tenaris.comen/xbrl/2023",
"xbrl": "https://xbrl.org/2021",
"xbrli": "http://www.xbrl.org/2003/instance"
},
"linkTypes": {
"ftTyp_fact-footnote": "http://www.xbrl.org/2003/arcrole/fact-footnote"
},
"linkGroups": {
"ftGrp_default": "http://www.xbrl.org/2003/role/link"
},
"taxonomy": [
"http://www.tenaris.comen/xbrl/2023/549300Y7C05BKC4HZB40-2023-12-31.xsd"
]
},
"facts": {
"Tag197": {
"value": "\n26, Boulevard Royal - 4
\nth
\n Floor
\nL-2449 - Luxembourg
\nR.C.S. Luxembourg: B 85203
\n
\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag244": {
"value": "14868860000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Revenue",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag217": {
"value": "11762526000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Revenue",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag205": {
"value": "6521207000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Revenue",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag237": {
"value": "8668915000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CostOfSales",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag251": {
"value": "7087739000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CostOfSales",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag235": {
"value": "4611602000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CostOfSales",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag247": {
"value": "6199945000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GrossProfit",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag203": {
"value": "4674787000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GrossProfit",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag216": {
"value": "1909605000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GrossProfit",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag204": {
"value": "1919307000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:SellingGeneralAndAdministrativeExpense",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag225": {
"value": "1634575000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:SellingGeneralAndAdministrativeExpense",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag210": {
"value": "1206569000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:SellingGeneralAndAdministrativeExpense",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag218": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag223": {
"value": "76725000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag250": {
"value": "57075000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag206": {
"value": "53043000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag231": {
"value": "104497000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag234": {
"value": "68245000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag211": {
"value": "17273000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherExpenseByFunction",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag229": {
"value": "104709000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherExpenseByFunction",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag200": {
"value": "6697000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherExpenseByFunction",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag212": {
"value": "4316408000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromOperatingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag209": {
"value": "2963275000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromOperatingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag224": {
"value": "707509000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromOperatingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag221": {
"value": "213474000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FinanceIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag219": {
"value": "80020000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FinanceIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag226": {
"value": "38048000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FinanceIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag236": {
"value": "106862000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FinanceCosts",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag243": {
"value": "45940000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FinanceCosts",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag242": {
"value": "23677000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FinanceCosts",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag240": {
"value": "114365000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherFinanceIncomeCost",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag214": {
"value": "-40120000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherFinanceIncomeCost",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag249": {
"value": "8295000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherFinanceIncomeCost",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag258": {
"value": "4537385000",
"decimals": -3,
"dimensions": {
"concept": "ts:LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag259": {
"value": "2957235000",
"decimals": -3,
"dimensions": {
"concept": "ts:LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag260": {
"value": "730175000",
"decimals": -3,
"dimensions": {
"concept": "ts:LossIncomeBeforeEquityInEarningsOfNonconsolidatedCompaniesAndIncomeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag208": {
"value": "95404000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag238": {
"value": "208702000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag198": {
"value": "512591000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag228": {
"value": "4632789000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag233": {
"value": "3165937000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag248": {
"value": "1242766000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag215": {
"value": "674956000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncomeTaxExpenseContinuingOperations",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag246": {
"value": "617236000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncomeTaxExpenseContinuingOperations",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag239": {
"value": "189448000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncomeTaxExpenseContinuingOperations",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag207": {
"value": "3957833000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromContinuingOperations",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag199": {
"value": "2548701000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromContinuingOperations",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag220": {
"value": "1053318000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromContinuingOperations",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag201": {
"value": "3918065000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag222": {
"value": "2553280000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag202": {
"value": "1100191000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag227": {
"value": "39768000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag241": {
"value": "-4579000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag213": {
"value": "-46873000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag245": {
"value": "3957833000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag232": {
"value": "2548701000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag230": {
"value": "1053318000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag692": {
"value": "1178738000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:WeightedAverageShares",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "xbrli:shares"
}
},
"Tag693": {
"value": "1180537000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:WeightedAverageShares",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "xbrli:shares"
}
},
"Tag694": {
"value": "1180537000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:WeightedAverageShares",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "xbrli:shares"
}
},
"Tag252": {
"value": "3.32",
"decimals": 2,
"dimensions": {
"concept": "ts:BasicAndDilutedEarningsLossPerShareFromContinuingOperations",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD/xbrli:shares"
}
},
"Tag257": {
"value": "2.16",
"decimals": 2,
"dimensions": {
"concept": "ts:BasicAndDilutedEarningsLossPerShareFromContinuingOperations",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD/xbrli:shares"
}
},
"Tag256": {
"value": "0.93",
"decimals": 2,
"dimensions": {
"concept": "ts:BasicAndDilutedEarningsLossPerShareFromContinuingOperations",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD/xbrli:shares"
}
},
"Tag253": {
"value": "6.65",
"decimals": 2,
"dimensions": {
"concept": "ts:BasicAndDilutedEarningsLossPerAmericanDepositaryShareFromContinuingOperations",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD/xbrli:shares"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote0"
]
}
}
},
"Tag254": {
"value": "4.33",
"decimals": 2,
"dimensions": {
"concept": "ts:BasicAndDilutedEarningsLossPerAmericanDepositaryShareFromContinuingOperations",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD/xbrli:shares"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote0"
]
}
}
},
"Tag255": {
"value": "1.86",
"decimals": 2,
"dimensions": {
"concept": "ts:BasicAndDilutedEarningsLossPerAmericanDepositaryShareFromContinuingOperations",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD/xbrli:shares"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote0"
]
}
}
},
"Tag283": {
"value": "3957833000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag286": {
"value": "2548701000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag297": {
"value": "1053318000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag290": {
"value": "38937000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag300": {
"value": "-23710000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag281": {
"value": "-81953000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag284": {
"value": "878000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote1"
]
}
}
},
"Tag275": {
"value": "71252000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote1"
]
}
}
},
"Tag291": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote1"
]
}
}
},
"Tag277": {
"value": "-112433000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote2"
]
}
}
},
"Tag294": {
"value": "-5186000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote2"
]
}
}
},
"Tag282": {
"value": "-1178000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote2"
]
}
}
},
"Tag267": {
"value": "24591000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag266": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag287": {
"value": "1511000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag305": {
"value": "-110801000",
"decimals": -3,
"dimensions": {
"concept": "ts:OtherComprehensiveIncomeLossNetOfTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag303": {
"value": "-7336000",
"decimals": -3,
"dimensions": {
"concept": "ts:OtherComprehensiveIncomeLossNetOfTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag304": {
"value": "11085000",
"decimals": -3,
"dimensions": {
"concept": "ts:OtherComprehensiveIncomeLossNetOfTaxExchangeDifferencesOnTranslationAttributableToNonconsolidatedCompanies",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag689": {
"value": "-47963000",
"decimals": -3,
"dimensions": {
"concept": "ts:OtherComprehensiveIncomeNetOfTaxAssetsMeasuredAtFairValueAttributableToNonconsolidatedCompanies",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag691": {
"value": "1435000",
"decimals": -3,
"dimensions": {
"concept": "ts:OtherComprehensiveIncomeNetOfTaxAssetsMeasuredAtFairValueAttributableToNonconsolidatedCompanies",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag690": {
"value": "13000",
"decimals": -3,
"dimensions": {
"concept": "ts:OtherComprehensiveIncomeNetOfTaxAssetsMeasuredAtFairValueAttributableToNonconsolidatedCompanies",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag278": {
"value": "-36127000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag292": {
"value": "-91377000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag269": {
"value": "-95714000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag296": {
"value": "-6816000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag262": {
"value": "13577000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag276": {
"value": "14648000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag270": {
"value": "-2204000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag272": {
"value": "2673000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag279": {
"value": "5137000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag274": {
"value": "-4083000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag289": {
"value": "3588000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag271": {
"value": "3829000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag265": {
"value": "-8695000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag273": {
"value": "14492000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag280": {
"value": "13340000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag307": {
"value": "-44822000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag306": {
"value": "-76885000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag308": {
"value": "-82374000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag299": {
"value": "3913011000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag263": {
"value": "2471816000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag298": {
"value": "970944000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag293": {
"value": "3873213000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag301": {
"value": "2476373000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag285": {
"value": "1016434000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag288": {
"value": "39798000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag295": {
"value": "-4557000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag264": {
"value": "-45490000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag261": {
"value": "3913011000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag302": {
"value": "2471816000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag268": {
"value": "970944000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag44": {
"value": "6078179000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PropertyPlantAndEquipment",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag59": {
"value": "5556263000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PropertyPlantAndEquipment",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag57": {
"value": "1377110000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IntangibleAssetsAndGoodwill",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag49": {
"value": "1332508000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IntangibleAssetsAndGoodwill",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag11": {
"value": "132138000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RightofuseAssets",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag28": {
"value": "111741000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RightofuseAssets",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag4": {
"value": "1608804000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag48": {
"value": "1540646000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag52": {
"value": "405631000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag72": {
"value": "119902000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag10": {
"value": "789615000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DeferredTaxAssets",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag46": {
"value": "208870000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DeferredTaxAssets",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag43": {
"value": "185959000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentReceivables",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag17": {
"value": "10577436000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentAssets",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag63": {
"value": "211720000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentReceivables",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag29": {
"value": "9081650000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentAssets",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag30": {
"value": "3921097000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Inventories",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag12": {
"value": "3986929000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Inventories",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag8": {
"value": "228819000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentPrepaymentsAndOtherCurrentAssets",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag9": {
"value": "183811000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentPrepaymentsAndOtherCurrentAssets",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag60": {
"value": "256401000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentTaxAssetsCurrent",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag69": {
"value": "243136000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentTaxAssetsCurrent",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag21": {
"value": "2480889000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentTradeReceivables",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag31": {
"value": "2493940000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentTradeReceivables",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag45": {
"value": "9801000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentDerivativeFinancialAssets",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag16": {
"value": "30805000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentDerivativeFinancialAssets",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag42": {
"value": "1969631000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentInvestments",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag41": {
"value": "438448000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentInvestments",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag68": {
"value": "1637821000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag18": {
"value": "10504459000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentAssets",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag38": {
"value": "1091527000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag20": {
"value": "8468596000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentAssets",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag55": {
"value": "21081895000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Assets",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag54": {
"value": "17550246000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Assets",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag27": {
"value": "16842972000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EquityAttributableToOwnersOfParent",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag3": {
"value": "13905709000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EquityAttributableToOwnersOfParent",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag14": {
"value": "187465000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncontrollingInterests",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag36": {
"value": "128728000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncontrollingInterests",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag70": {
"value": "17030437000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag15": {
"value": "14034437000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag26": {
"value": "48304000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:LongtermBorrowings",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag40": {
"value": "46433000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:LongtermBorrowings",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag23": {
"value": "96598000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentLeaseLiabilities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag6": {
"value": "83616000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentLeaseLiabilities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag66": {
"value": "255000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentDerivativeFinancialLiabilities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag13": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentDerivativeFinancialLiabilities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag37": {
"value": "631605000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DeferredTaxLiabilities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag71": {
"value": "269069000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DeferredTaxLiabilities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag65": {
"value": "271268000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherNoncurrentLiabilities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag47": {
"value": "230142000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherNoncurrentLiabilities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag1": {
"value": "101453000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentProvisions",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag67": {
"value": "1149483000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentLiabilities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag64": {
"value": "98126000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentProvisions",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag2": {
"value": "727386000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentLiabilities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag25": {
"value": "535133000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag50": {
"value": "682329000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag19": {
"value": "37835000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentLeaseLiabilities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag53": {
"value": "28561000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentLeaseLiabilities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag22": {
"value": "10895000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentDerivativeFinancialLiabilities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag56": {
"value": "7127000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentDerivativeFinancialLiabilities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag5": {
"value": "488277000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentTaxLiabilitiesCurrent",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag75": {
"value": "376240000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentTaxLiabilitiesCurrent",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag61": {
"value": "422645000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherCurrentLiabilities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag35": {
"value": "260614000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherCurrentLiabilities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag62": {
"value": "35959000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentProvisions",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag74": {
"value": "11185000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentProvisions",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag39": {
"value": "263664000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentAdvances",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag34": {
"value": "242910000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentAdvances",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag32": {
"value": "1107567000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:TradeAndOtherCurrentPayables",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag33": {
"value": "2901975000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentLiabilities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag58": {
"value": "1179457000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:TradeAndOtherCurrentPayables",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag51": {
"value": "2788423000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentLiabilities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag76": {
"value": "4051458000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Liabilities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag7": {
"value": "3515809000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Liabilities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag73": {
"value": "21081895000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EquityAndLiabilities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag24": {
"value": "17550246000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EquityAndLiabilities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag418": {
"value": "1180537000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote3"
]
}
}
},
"Tag355": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote4"
]
}
}
},
"Tag338": {
"value": "118054000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
}
},
"Tag594": {
"value": "609733000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"Tag648": {
"value": "-1138681000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"Tag621": {
"value": "-325572000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote5"
]
}
}
},
"Tag386": {
"value": "13461638000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote6"
]
}
}
},
"Tag602": {
"value": "13905709000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
}
},
"Tag346": {
"value": "128728000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
}
},
"Tag620": {
"value": "14034437000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag630": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote3"
]
}
}
},
"Tag347": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote4"
]
}
}
},
"Tag565": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
}
},
"Tag450": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"Tag474": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"Tag426": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote5"
]
}
}
},
"Tag611": {
"value": "3918065000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote6"
]
}
}
},
"Tag394": {
"value": "3918065000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
}
},
"Tag653": {
"value": "39768000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
}
},
"Tag584": {
"value": "3957833000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag442": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote3"
]
}
}
},
"Tag623": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote4"
]
}
}
},
"Tag551": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
}
},
"Tag318": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"Tag340": {
"value": "38587000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"Tag628": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote5"
]
}
}
},
"Tag477": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote6"
]
}
}
},
"Tag529": {
"value": "38587000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
}
},
"Tag598": {
"value": "350000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
}
},
"Tag360": {
"value": "38937000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag321": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote3"
]
}
}
},
"Tag449": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote4"
]
}
}
},
"Tag371": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
}
},
"Tag644": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"Tag412": {
"value": "878000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"Tag656": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote5"
]
}
}
},
"Tag531": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote6"
]
}
}
},
"Tag507": {
"value": "878000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
}
},
"Tag613": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
}
},
"Tag495": {
"value": "878000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag539": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote3"
]
}
}
},
"Tag560": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote4"
]
}
}
},
"Tag588": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
}
},
"Tag479": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"Tag348": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"Tag446": {
"value": "-3096000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote5"
]
}
}
},
"Tag593": {
"value": "-1196000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote6"
]
}
}
},
"Tag619": {
"value": "-4292000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
}
},
"Tag570": {
"value": "-320000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
}
},
"Tag526": {
"value": "-4612000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag317": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote3",
"footnote7"
]
}
}
},
"Tag330": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote7",
"footnote4"
]
}
}
},
"Tag335": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote7"
]
}
}
},
"Tag505": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote7"
]
}
}
},
"Tag661": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote7"
]
}
}
},
"Tag342": {
"value": "-137024000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote5",
"footnote7"
]
}
}
},
"Tag399": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote6",
"footnote7"
]
}
}
},
"Tag482": {
"value": "-137024000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote7"
]
}
}
},
"Tag615": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote7"
]
}
}
},
"Tag395": {
"value": "-137024000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote7"
]
}
}
},
"Tag561": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote3"
]
}
}
},
"Tag557": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote4"
]
}
}
},
"Tag421": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
}
},
"Tag575": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"Tag640": {
"value": "110801000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"Tag375": {
"value": "-52046000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote5"
]
}
}
},
"Tag655": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote6"
]
}
}
},
"Tag404": {
"value": "58755000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
}
},
"Tag586": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
}
},
"Tag493": {
"value": "58755000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag658": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote3"
]
}
}
},
"Tag657": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote4"
]
}
}
},
"Tag437": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
}
},
"Tag528": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"Tag408": {
"value": "148510000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"Tag397": {
"value": "-192166000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote5"
]
}
}
},
"Tag329": {
"value": "-1196000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote6"
]
}
}
},
"Tag637": {
"value": "-44852000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
}
},
"Tag517": {
"value": "30000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
}
},
"Tag453": {
"value": "-44822000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag462": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote3"
]
}
}
},
"Tag535": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote4"
]
}
}
},
"Tag451": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
}
},
"Tag333": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"Tag353": {
"value": "148510000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"Tag591": {
"value": "-192166000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote5"
]
}
}
},
"Tag432": {
"value": "3916869000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote6"
]
}
}
},
"Tag537": {
"value": "3873213000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
}
},
"Tag498": {
"value": "39798000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
}
},
"Tag319": {
"value": "3913011000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag492": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote3"
]
}
}
},
"Tag562": {
"value": "213739000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote4"
]
}
}
},
"Tag423": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
}
},
"Tag460": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"Tag605": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"Tag564": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote5"
]
}
}
},
"Tag578": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote6"
]
}
}
},
"Tag499": {
"value": "213739000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
}
},
"Tag503": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
}
},
"Tag436": {
"value": "213739000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag641": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CancellationOfTreasuryShares",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote3",
"footnote8"
]
}
}
},
"Tag373": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CancellationOfTreasuryShares",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote8",
"footnote4"
]
}
}
},
"Tag519": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CancellationOfTreasuryShares",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote8"
]
}
}
},
"Tag440": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CancellationOfTreasuryShares",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote8"
]
}
}
},
"Tag576": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CancellationOfTreasuryShares",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote8"
]
}
}
},
"Tag634": {
"value": "86240000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CancellationOfTreasuryShares",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote5",
"footnote8"
]
}
}
},
"Tag546": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CancellationOfTreasuryShares",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote6",
"footnote8"
]
}
}
},
"Tag527": {
"value": "86240000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CancellationOfTreasuryShares",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote8"
]
}
}
},
"Tag372": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CancellationOfTreasuryShares",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote8"
]
}
}
},
"Tag417": {
"value": "86240000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CancellationOfTreasuryShares",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote8"
]
}
}
},
"Tag420": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote3",
"footnote9"
]
}
}
},
"Tag362": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote9",
"footnote4"
]
}
}
},
"Tag334": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote9"
]
}
}
},
"Tag336": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote9"
]
}
}
},
"Tag589": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote9"
]
}
}
},
"Tag624": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote5",
"footnote9"
]
}
}
},
"Tag352": {
"value": "540000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote6",
"footnote9"
]
}
}
},
"Tag381": {
"value": "540000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote9"
]
}
}
},
"Tag313": {
"value": "37906000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote9"
]
}
}
},
"Tag445": {
"value": "38446000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote9"
]
}
}
},
"Tag376": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote3"
]
}
}
},
"Tag457": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote4"
]
}
}
},
"Tag424": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
}
},
"Tag566": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"Tag483": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"Tag635": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote5"
]
}
}
},
"Tag410": {
"value": "636511000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote6"
]
}
}
},
"Tag388": {
"value": "636511000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
}
},
"Tag411": {
"value": "18967000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
}
},
"Tag324": {
"value": "655478000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag659": {
"value": "1180537000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote3"
]
}
}
},
"Tag524": {
"value": "-213739000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote4"
]
}
}
},
"Tag629": {
"value": "118054000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
}
},
"Tag610": {
"value": "609733000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"Tag385": {
"value": "-990171000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"Tag396": {
"value": "-603978000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote5"
]
}
}
},
"Tag573": {
"value": "16742536000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote6"
]
}
}
},
"Tag480": {
"value": "16842972000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
}
},
"Tag651": {
"value": "187465000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
}
},
"Tag344": {
"value": "17030437000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag350": {
"value": "2500000000",
"decimals": -8,
"dimensions": {
"concept": "ifrs-full:NumberOfSharesAuthorised",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "xbrli:shares"
}
},
"Tag470": {
"value": "1",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:ParValuePerShare",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD/xbrli:shares"
}
},
"Tag387": {
"value": "1180536830",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:NumberOfSharesIssued",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "xbrli:shares"
}
},
"Tag695": {
"value": "12648091",
"decimals": 0,
"dimensions": {
"concept": "ts:NumberOfTreasurySharesHeld",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "xbrli:shares"
}
},
"Tag536": {
"value": "1180537000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote10"
]
}
}
},
"Tag587": {
"value": "118054000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
}
},
"Tag604": {
"value": "609733000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"Tag530": {
"value": "-1051133000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"Tag354": {
"value": "-336200000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote11"
]
}
}
},
"Tag508": {
"value": "11439587000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"Tag377": {
"value": "11960578000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
}
},
"Tag553": {
"value": "145124000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
}
},
"Tag510": {
"value": "12105702000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag616": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote10"
]
}
}
},
"Tag515": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
}
},
"Tag567": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"Tag390": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"Tag413": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote11"
]
}
}
},
"Tag389": {
"value": "2553280000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"Tag645": {
"value": "2553280000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
}
},
"Tag327": {
"value": "-4579000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
}
},
"Tag427": {
"value": "2548701000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag595": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote10"
]
}
}
},
"Tag542": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
}
},
"Tag548": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"Tag401": {
"value": "-23632000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"Tag554": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote11"
]
}
}
},
"Tag571": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"Tag471": {
"value": "-23632000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
}
},
"Tag414": {
"value": "-78000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
}
},
"Tag646": {
"value": "-23710000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag402": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote10",
"footnote12"
]
}
}
},
"Tag403": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote12"
]
}
}
},
"Tag625": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote12"
]
}
}
},
"Tag504": {
"value": "71252000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote12"
]
}
}
},
"Tag518": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote11",
"footnote12"
]
}
}
},
"Tag569": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote12"
]
}
}
},
"Tag580": {
"value": "71252000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote12"
]
}
}
},
"Tag627": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote12"
]
}
}
},
"Tag585": {
"value": "71252000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote12"
]
}
}
},
"Tag384": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote10"
]
}
}
},
"Tag455": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
}
},
"Tag614": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"Tag633": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"Tag475": {
"value": "10519000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote11"
]
}
}
},
"Tag406": {
"value": "13000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"Tag511": {
"value": "10532000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
}
},
"Tag596": {
"value": "372000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
}
},
"Tag383": {
"value": "10904000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag606": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote10"
]
}
}
},
"Tag491": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
}
},
"Tag467": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"Tag459": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"Tag607": {
"value": "-4914000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote11"
]
}
}
},
"Tag590": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"Tag452": {
"value": "-4914000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
}
},
"Tag516": {
"value": "-272000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
}
},
"Tag363": {
"value": "-5186000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag649": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote10"
]
}
}
},
"Tag337": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
}
},
"Tag358": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"Tag490": {
"value": "7336000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"Tag398": {
"value": "5023000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote11"
]
}
}
},
"Tag448": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"Tag612": {
"value": "12359000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
}
},
"Tag349": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
}
},
"Tag572": {
"value": "12359000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag476": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote10"
]
}
}
},
"Tag525": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
}
},
"Tag380": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"Tag632": {
"value": "-87548000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"Tag608": {
"value": "10628000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote11"
]
}
}
},
"Tag405": {
"value": "13000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"Tag429": {
"value": "-76907000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
}
},
"Tag443": {
"value": "22000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
}
},
"Tag431": {
"value": "-76885000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag433": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote10"
]
}
}
},
"Tag341": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
}
},
"Tag365": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"Tag374": {
"value": "-87548000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"Tag617": {
"value": "10628000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote11"
]
}
}
},
"Tag438": {
"value": "2553293000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"Tag597": {
"value": "2476373000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
}
},
"Tag393": {
"value": "-4557000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
}
},
"Tag552": {
"value": "2471816000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag494": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote10"
]
}
}
},
"Tag481": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
}
},
"Tag439": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"Tag323": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"Tag367": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote11"
]
}
}
},
"Tag568": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"Tag458": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
}
},
"Tag400": {
"value": "-1407000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
}
},
"Tag461": {
"value": "-1407000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag356": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote10"
]
}
}
},
"Tag456": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
}
},
"Tag345": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"Tag422": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"Tag600": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote11"
]
}
}
},
"Tag603": {
"value": "531242000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"Tag357": {
"value": "531242000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
}
},
"Tag463": {
"value": "10432000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
}
},
"Tag441": {
"value": "541674000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag339": {
"value": "1180537000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote10"
]
}
}
},
"Tag544": {
"value": "118054000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
}
},
"Tag435": {
"value": "609733000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"Tag468": {
"value": "-1138681000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"Tag322": {
"value": "-325572000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote11"
]
}
}
},
"Tag485": {
"value": "13461638000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"Tag521": {
"value": "13905709000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
}
},
"Tag325": {
"value": "128728000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
}
},
"Tag415": {
"value": "14034437000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag409": {
"value": "1180537000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote10"
]
}
}
},
"Tag416": {
"value": "118054000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
}
},
"Tag361": {
"value": "609733000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"Tag430": {
"value": "-958374000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"Tag599": {
"value": "-345217000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote11"
]
}
}
},
"Tag652": {
"value": "10658155000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"Tag538": {
"value": "11262888000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
}
},
"Tag454": {
"value": "183585000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
}
},
"Tag428": {
"value": "11446473000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag555": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote10"
]
}
}
},
"Tag639": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
}
},
"Tag444": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"Tag364": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"Tag315": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote11"
]
}
}
},
"Tag583": {
"value": "1100191000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"Tag497": {
"value": "1100191000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
}
},
"Tag502": {
"value": "-46873000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
}
},
"Tag643": {
"value": "1053318000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag549": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote10"
]
}
}
},
"Tag326": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
}
},
"Tag469": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"Tag563": {
"value": "-81674000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"Tag309": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote11"
]
}
}
},
"Tag581": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"Tag366": {
"value": "-81674000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
}
},
"Tag559": {
"value": "-279000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
}
},
"Tag579": {
"value": "-81953000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag473": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote10"
]
}
}
},
"Tag382": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
}
},
"Tag359": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"Tag419": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"Tag379": {
"value": "9813000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote11"
]
}
}
},
"Tag332": {
"value": "-15000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"Tag547": {
"value": "9798000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
}
},
"Tag601": {
"value": "-287000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
}
},
"Tag622": {
"value": "9511000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag618": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote10"
]
}
}
},
"Tag447": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
}
},
"Tag523": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"Tag631": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"Tag540": {
"value": "-4638000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote11"
]
}
}
},
"Tag392": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"Tag636": {
"value": "-4638000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
}
},
"Tag496": {
"value": "1949000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
}
},
"Tag514": {
"value": "-2689000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag310": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote10"
]
}
}
},
"Tag543": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
}
},
"Tag577": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"Tag478": {
"value": "-11085000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"Tag316": {
"value": "3842000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote11"
]
}
}
},
"Tag489": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"Tag368": {
"value": "-7243000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
}
},
"Tag312": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
}
},
"Tag626": {
"value": "-7243000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag558": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote10"
]
}
}
},
"Tag582": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
}
},
"Tag391": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"Tag500": {
"value": "-92759000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"Tag513": {
"value": "9017000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote11"
]
}
}
},
"Tag506": {
"value": "-15000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"Tag556": {
"value": "-83757000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
}
},
"Tag647": {
"value": "1383000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
}
},
"Tag488": {
"value": "-82374000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag501": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote10"
]
}
}
},
"Tag425": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
}
},
"Tag484": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"Tag328": {
"value": "-92759000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"Tag343": {
"value": "9017000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote11"
]
}
}
},
"Tag320": {
"value": "1100176000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"Tag592": {
"value": "1016434000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
}
},
"Tag509": {
"value": "-45490000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
}
},
"Tag465": {
"value": "970944000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag351": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote10",
"footnote13"
]
}
}
},
"Tag472": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote13"
]
}
}
},
"Tag464": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote13"
]
}
}
},
"Tag314": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote13"
]
}
}
},
"Tag642": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote11",
"footnote13"
]
}
}
},
"Tag550": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote13"
]
}
}
},
"Tag609": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote13"
]
}
}
},
"Tag311": {
"value": "10384000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote13"
]
}
}
},
"Tag512": {
"value": "10384000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote13"
]
}
}
},
"Tag370": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote10"
]
}
}
},
"Tag487": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
}
},
"Tag331": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"Tag638": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"Tag654": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote11"
]
}
}
},
"Tag378": {
"value": "318744000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"Tag534": {
"value": "318744000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
}
},
"Tag434": {
"value": "3355000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
}
},
"Tag522": {
"value": "322099000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag407": {
"value": "1180537000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote10"
]
}
}
},
"Tag486": {
"value": "118054000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:USD"
}
},
"Tag574": {
"value": "609733000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:USD"
}
},
"Tag532": {
"value": "-1051133000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:USD"
}
},
"Tag650": {
"value": "-336200000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote11"
]
}
}
},
"Tag466": {
"value": "11439587000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:USD"
}
},
"Tag541": {
"value": "11960578000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:USD"
}
},
"Tag545": {
"value": "145124000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:USD"
}
},
"Tag660": {
"value": "12105702000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag369": {
"value": "2500000000",
"decimals": -8,
"dimensions": {
"concept": "ifrs-full:NumberOfSharesAuthorised",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "xbrli:shares"
}
},
"Tag520": {
"value": "1",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:ParValuePerShare",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD/xbrli:shares"
}
},
"Tag533": {
"value": "1180536830",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:NumberOfSharesIssued",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "xbrli:shares"
}
},
"Tag140": {
"value": "3957833000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag120": {
"value": "2548701000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag182": {
"value": "1053318000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag141": {
"value": "548510000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpense",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag139": {
"value": "607723000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpense",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag127": {
"value": "594721000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpense",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag159": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag91": {
"value": "76725000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag105": {
"value": "57075000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag136": {
"value": "-143391000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForIncomeTaxExpense",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag175": {
"value": "257651000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForIncomeTaxExpense",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag115": {
"value": "35602000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForIncomeTaxExpense",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag125": {
"value": "95404000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForUndistributedProfitsOfAssociates",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag160": {
"value": "208702000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForUndistributedProfitsOfAssociates",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag102": {
"value": "512591000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForUndistributedProfitsOfAssociates",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag157": {
"value": "53480000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForFinanceIncomeCost",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag100": {
"value": "-1480000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForFinanceIncomeCost",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag132": {
"value": "11363000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForFinanceIncomeCost",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag84": {
"value": "21284000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForProvisions",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag148": {
"value": "16433000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForProvisions",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag164": {
"value": "7381000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForProvisions",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag193": {
"value": "-878000",
"decimals": -3,
"dimensions": {
"concept": "ts:AdjustmentsForReclassificationOfForeignExchangeReserve",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote14"
]
}
}
},
"Tag191": {
"value": "-71252000",
"decimals": -3,
"dimensions": {
"concept": "ts:AdjustmentsForReclassificationOfForeignExchangeReserve",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote14"
]
}
}
},
"Tag192": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ts:AdjustmentsForReclassificationOfForeignExchangeReserve",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote14"
]
}
}
},
"Tag181": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag184": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag169": {
"value": "6768000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag150": {
"value": "-182428000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInWorkingCapital",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote15"
]
}
}
},
"Tag81": {
"value": "2131245000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInWorkingCapital",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote15"
]
}
}
},
"Tag126": {
"value": "1071464000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInWorkingCapital",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote15"
]
}
}
},
"Tag107": {
"value": "-21829000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherAdjustmentsForNoncashItems",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag109": {
"value": "69703000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherAdjustmentsForNoncashItems",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag137": {
"value": "-26836000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherAdjustmentsForNoncashItems",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag178": {
"value": "4395073000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag145": {
"value": "1167217000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag151": {
"value": "119075000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag77": {
"value": "619445000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag161": {
"value": "378446000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag90": {
"value": "239518000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag185": {
"value": "1736000",
"decimals": -3,
"dimensions": {
"concept": "ts:CashFlowsFromUsedInChangesInAdvanceToSuppliersOfPropertyPlantAndEquipment",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag187": {
"value": "-18901000",
"decimals": -3,
"dimensions": {
"concept": "ts:CashFlowsFromUsedInChangesInAdvanceToSuppliersOfPropertyPlantAndEquipment",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag186": {
"value": "-5075000",
"decimals": -3,
"dimensions": {
"concept": "ts:CashFlowsFromUsedInChangesInAdvanceToSuppliersOfPropertyPlantAndEquipment",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag162": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag94": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag113": {
"value": "24332000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag156": {
"value": "265657000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote16"
]
}
}
},
"Tag129": {
"value": "4082000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote16"
]
}
}
},
"Tag152": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
},
"links": {
"ftTyp_fact-footnote": {
"ftGrp_default": [
"footnote16"
]
}
}
},
"Tag172": {
"value": "1126000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag124": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag103": {
"value": "692000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag83": {
"value": "22661000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PurchaseOfInterestsInAssociates",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag93": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PurchaseOfInterestsInAssociates",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag92": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PurchaseOfInterestsInAssociates",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag146": {
"value": "3754000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAdvancesAndLoansMadeToRelatedParties",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag167": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAdvancesAndLoansMadeToRelatedParties",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag96": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAdvancesAndLoansMadeToRelatedParties",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag88": {
"value": "12881000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag135": {
"value": "48458000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag116": {
"value": "22735000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag166": {
"value": "68781000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsReceivedFromAssociatesClassifiedAsInvestingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag176": {
"value": "66162000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsReceivedFromAssociatesClassifiedAsInvestingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag112": {
"value": "75929000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsReceivedFromAssociatesClassifiedAsInvestingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag99": {
"value": "-1857272000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag122": {
"value": "123254000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag86": {
"value": "390186000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag108": {
"value": "-2686517000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag118": {
"value": "-163555000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag155": {
"value": "267897000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag158": {
"value": "636511000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaidClassifiedAsFinancingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag170": {
"value": "531242000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaidClassifiedAsFinancingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag144": {
"value": "318744000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaidClassifiedAsFinancingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag179": {
"value": "18967000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag142": {
"value": "10432000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag82": {
"value": "3355000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag195": {
"value": "3772000",
"decimals": -3,
"dimensions": {
"concept": "ts:ProceedsPaymentsFromChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag196": {
"value": "-1407000",
"decimals": -3,
"dimensions": {
"concept": "ts:ProceedsPaymentsFromChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag194": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ts:ProceedsPaymentsFromChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag89": {
"value": "213739000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PaymentsToAcquireOrRedeemEntitysShares",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag123": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PaymentsToAcquireOrRedeemEntitysShares",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag165": {
"value": "0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PaymentsToAcquireOrRedeemEntitysShares",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag111": {
"value": "51492000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag78": {
"value": "52396000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag133": {
"value": "48473000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag163": {
"value": "1723677000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag171": {
"value": "1511503000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag149": {
"value": "843668000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag117": {
"value": "1931747000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag134": {
"value": "1094370000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag183": {
"value": "1121053000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag173": {
"value": "-1125007000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag114": {
"value": "-178344000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag85": {
"value": "-647957000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag121": {
"value": "583549000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag153": {
"value": "825318000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag87": {
"value": "-260985000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag119": {
"value": "1091433000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag168": {
"value": "318067000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag101": {
"value": "584583000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag130": {
"value": "-58385000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag177": {
"value": "-51952000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag98": {
"value": "-5531000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag110": {
"value": "583549000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag174": {
"value": "825318000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag154": {
"value": "-260985000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag180": {
"value": "1616597000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag143": {
"value": "1091433000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag128": {
"value": "318067000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag138": {
"value": "1637821000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag106": {
"value": "1091527000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag131": {
"value": "318127000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag79": {
"value": "21224000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:BankOverdraftsClassifiedAsCashEquivalents",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag95": {
"value": "94000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:BankOverdraftsClassifiedAsCashEquivalents",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag104": {
"value": "60000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:BankOverdraftsClassifiedAsCashEquivalents",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag147": {
"value": "1616597000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag97": {
"value": "1091433000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag80": {
"value": "318067000",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag189": {
"value": "16700000",
"decimals": -5,
"dimensions": {
"concept": "ts:CurrencyTranslationAdjustmentWorkingCapital",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag190": {
"value": "4200000",
"decimals": -5,
"dimensions": {
"concept": "ts:CurrencyTranslationAdjustmentWorkingCapital",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag188": {
"value": "25600000",
"decimals": -5,
"dimensions": {
"concept": "ts:CurrencyTranslationAdjustmentWorkingCapital",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
"unit": "iso4217:USD"
}
},
"Tag903": {
"value": "For the years ended 2023, 2022 and 2021\n
\nI. GENERAL INFORMATION
\n
\nTenaris S.A. (the \u201cCompany\u201d) was established as a public limited liability company (soci\u00e9t\u00e9 anonyme)
\n
\n under the
\nlaws of the Grand-Duchy of Luxembourg on December 17, 2001. The Company holds, either directly or indirectly,
\ncontrolling interests in various subsidiaries in the steel pipe manufacturing and distribution businesses. References
\nin these Consolidated Financial Statements to \u201cTenaris\u201d refer to the Company and its consolidated subsidiaries. A
\nlist of the principal Company\u2019s subsidiaries is included in note 33 to these Consolidated Financial Statements.
\n
\nThe Company\u2019s shares trade on the Italian Stock Exchange and the Mexican Stock Exchange; and the Company\u2019s
\nAmerican Depositary Securities (\u201cADS\u201d) trade on the New York Stock Exchange.
\n
\n\nThese Consolidated Financial Statements were approved for issuance by the Company\u2019s Board of Directors on
\nFebruary 21, 2024.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nThe Consolidated Financial Statements of Tenaris have been prepared in accordance with International Financial
\nReporting Standards (\u201cIFRS\" or \"IFRS Accounting Standards\u201d), as issued by the International Accounting Standards
\nBoard (\u201cIASB\u201d) and in accordance with IFRS as adopted by the European Union, under the historical cost convention,
\nas modified by the revaluation of certain financial assets and liabilities (including derivative instruments) and plan
\nassets at fair value. The Consolidated Financial Statements are, unless otherwise noted, presented in thousands of
\nU.S. dollars (\u201c$\u201d).
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag840": {
"value": "Tenaris S.A.",
"dimensions": {
"concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag870": {
"value": "public limited liability company (soci\u00e9t\u00e9 anonyme)",
"dimensions": {
"concept": "ifrs-full:LegalFormOfEntity",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag837": {
"value": "Luxembourg",
"dimensions": {
"concept": "ifrs-full:DomicileOfEntity",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag879": {
"value": "the steel pipe manufacturing and distribution businesses",
"dimensions": {
"concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag834": {
"value": "\nThese Consolidated Financial Statements were approved for issuance by the Company\u2019s Board of Directors on
\nFebruary 21, 2024.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag832": {
"value": "\n
\nII. ACCOUNTING POLICIES
\n
\nThe accounting policies applied in the preparation of these Consolidated Financial Statements are set out below.
\nThese policies have been consistently applied to all the years presented, unless otherwise stated.
\n
\n
\n\n
\n
\n
\n
\n
\n
\nA Basis of presentation
\n
\n\n
\nThe Consolidated Financial Statements of Tenaris have been prepared in accordance with International Financial
\nReporting Standards (\u201cIFRS\" or \"IFRS Accounting Standards\u201d), as issued by the International Accounting Standards
\nBoard (\u201cIASB\u201d) and in accordance with IFRS as adopted by the European Union, under the historical cost convention,
\nas modified by the revaluation of certain financial assets and liabilities (including derivative instruments) and plan
\nassets at fair value. The Consolidated Financial Statements are, unless otherwise noted, presented in thousands of
\nU.S. dollars (\u201c$\u201d).
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nWhenever necessary, certain comparative amounts have been reclassified to conform to changes in presentation in
\nthe current year.
\n
\n\nThe preparation of Consolidated Financial Statements in conformity with IFRS requires management to make certain
\naccounting estimates and assumptions that might affect among others, the reported amounts of assets, liabilities,
\ncontingent liabilities, revenues and expenses. Actual results may differ from these estimates. The main areas
\ninvolving material estimates or judgements are: impairment of goodwill and long-lived assets (notes II.H),
\nimpairment in investments in associates (note II.B); income taxes including recoverability of deferred tax assets (note
\nII.O); obsolescence of inventory (note II.J); contingencies (note II.Q); allowance for trade receivables (note II.K); post-
\nemployment and other long-term benefits (note II.P); business combinations (notes II.B); useful lives of property,
\nplant and equipment and other long-lived assets (notes II.E, II.F, II.H) and property title ownership restriction (note
\nIV.28). During the year there were no significant changes in the material accounting estimates and judgements.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n(1)
\n
\nAccounting pronouncements applicable as from January 1, 2023
\n
\nAmendments to IAS 12 - International Tax Reform - Pillar Two Model Rules
\n
\nIn December 2021, the Organization for Economic Co-operation and Development (\u201cOECD\u201d) released the Pillar
\nTwo model rules (the Global Anti-Base Erosion rules, or \u201cGloBE\u201d) to reform international corporate taxation.
\nFollowing Pillar Two OECD\u2019s initiative, the European Union adopted in December 2022 a directive to impose a global
\nminimum taxation for multinational companies in the Union, to be effective as from 2024.
\n
\nIn May 2023, the IASB made narrow-scope amendments to IAS 12 setting an exception that provides relief from
\nthe requirement to recognize and disclose deferred taxes arising from enacted or substantively enacted tax laws
\nthat implement the Pillar Two model rules, including tax laws that implement qualified domestic minimum top-up
\ntaxes as per described in those rules.
\n
\nOn December 20, 2023, the Luxembourg Parliament approved the Pillar Two law transposing the EU Pillar Two
\nDirective into domestic legislation. The law enters into force as from fiscal years starting on or after 31 December
\n2023.
\n
\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n
\n\nThe Company is within the scope of the rules, and therefore will be required to calculate its GloBE effective tax rate
\nfor each jurisdiction where it operates and will be liable to pay a top-up tax for the difference between its GloBE
\neffective tax rate per jurisdiction and the 15% minimum rate, as from 2024. For more information see note 9.
\n
\nOther accounting pronouncements that became effective during 2023 have no material effect on the Company\u2019s
\nfinancial condition or results of operations.
\n
\n(2)
\n
\nNew accounting pronouncements not applicable as of December 31, 2023
\n
\nCertain newly published accounting standards, amendments to accounting standards and interpretations are not
\nmandatory for December 31, 2023 reporting periods and have not been early adopted by the Company. These
\nstandards, amendments or interpretations are not expected to have a material impact in the current or future
\nreporting periods and on foreseeable future transactions.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n
\nB Group accounting
\n
\n
\n
\n
\n
\n(1) Subsidiaries and transactions with non-controlling interests
\n
\n\nSubsidiaries are all entities over which Tenaris has control. Tenaris controls an entity when it is exposed to, or has
\nrights to, variable returns from its involvement with the entity and has the ability to affect those returns through its
\npower over the entity. In some cases, the Company considers that it has the ability to affect returns through its
\npower over an entity even if it holds less than 50% of the shares or voting rights of the subsidiary because it is able
\nto prevail at all of the subsidiary\u2019s general meetings, which in turn allows Tenaris to nominate and appoint a majority
\nof the subsidiary\u2019s board of directors. Subsidiaries are fully consolidated from the date on which control is exercised
\nby the Company and are no longer consolidated from the date control ceases.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\nThe acquisition method is used to account for the acquisition of subsidiaries by Tenaris. The cost of an acquisition
\nis measured as the fair value of the assets transferred, equity instruments issued and liabilities incurred or assumed
\nat the date of exchange. Acquisition-related costs are expensed as incurred. Identifiable assets acquired, liabilities
\nand contingent liabilities assumed in a business combination are generally measured initially at their fair values at
\nthe acquisition date. Any non-controlling interest in the acquiree is measured either at fair value or at the non-
\ncontrolling interest\u2019s proportionate share of the acquiree\u2019s net identifiable assets. The excess of the aggregate of
\nthe consideration transferred and the amount of any non-controlling interest in the acquiree over the fair value of
\nthe identifiable net assets acquired is recorded as goodwill. If this is less than the fair value of the net assets of the
\nsubsidiary acquired, the difference is recognized directly in the Consolidated Income Statement.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nContingent consideration is classified either as equity or as a financial liability. Amounts classified as a financial
\nliability are subsequently remeasured to fair value with changes in fair value recognized in profit or loss.
\n
\n\nIf the business combination is achieved in stages, the acquisition date carrying value of the acquirer\u2019s previously
\nheld equity interest in the acquiree is remeasured to fair value at the acquisition date. Any gains or losses arising
\nfrom such remeasurement are recognized in profit or loss.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\nTransactions with non-controlling interests that do not result in a loss of control are accounted as transactions with
\nequity owners of the Company. For purchases from non-controlling interests, the difference between any
\nconsideration paid and the relevant share acquired of the carrying value of net assets of the subsidiary is recorded
\nin equity. Gains or losses on disposals to non-controlling interests are also recorded in equity.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n
\nWhen the Company ceases to have control or significant influence, any retained interest in the entity is remeasured
\nto its fair value, with the change in carrying amount recognized in profit or loss. The fair value is the initial carrying
\namount for the purposes of subsequently accounting for the retained interest as an associate, joint venture or
\nfinancial asset. In addition, any amounts previously recognized in other comprehensive income in respect of that
\nentity are accounted for as if the group had directly disposed of the related assets or liabilities. This may mean that
\namounts previously recognized in other comprehensive income are reclassified to profit or loss.
\n
\nMaterial intercompany transactions, balances and unrealized gains (losses) on transactions between Tenaris
\nsubsidiaries have been eliminated in consolidation. However, since the functional currency of some subsidiaries is
\nits respective local currency, some financial gains (losses) arising from intercompany transactions are generated.
\nThese are included in the Consolidated Income Statement under
\nOther financial results
\n.
\n
\n\n
\n\n
\n\n(2) Non-consolidated companies
\n
\n
\nNon-consolidated companies are all entities in which Tenaris has significant influence but not control, generally
\naccompanying a shareholding of between 20% and 50% of the voting rights. Investments in non-consolidated
\ncompanies (associates and joint ventures) are accounted for by the equity method and are initially recognized at
\ncost (as defined by IAS 28, \u201cInvestments in Associates and Joint Ventures\u201d). The Company\u2019s investment in non-
\nconsolidated companies includes goodwill identified in acquisition, net of any accumulated impairment loss.
\n
\nUnder the equity method, the investments are initially recognized at cost and adjusted thereafter to recognize
\nTenaris\u2019s share of the post-acquisition profits or losses of the investee in profit or loss, and Tenaris\u2019s share of
\nmovements in other comprehensive income of the investee in other comprehensive income. Dividends received or
\nreceivable from associates and joint ventures are recognized as a reduction in the carrying amount of the investment.
\n
\nIf material, unrealized results on transactions between Tenaris and its non-consolidated companies are eliminated
\nto the extent of Tenaris\u2019s interest in the non-consolidated companies. Unrealized losses are also eliminated unless
\nthe transaction provides evidence of an impairment indicator of the asset transferred. Financial statements of non-
\nconsolidated companies are adjusted where necessary to ensure consistency with IFRS.
\n
\nThe Company\u2019s pro-rata share of earnings in non-consolidated companies is recorded in the Consolidated Income
\nStatement under
\nEquity in earnings
\n
\nof non-consolidated companies
\n. The Company\u2019s pro-rata share of changes in
\nother comprehensive income is recognized in the Consolidated Statement of Comprehensive Income.
\n
\na)
\n
\nTernium
\n
\nAt December 31, 2023, Tenaris held 11.46% in the share capital of Ternium S.A. (\u201cTernium\u201d). The following factors
\nand circumstances evidence that Tenaris has significant influence over Ternium:
\n
\n\u25aa both the Company and Ternium are under the indirect common control of San Faustin S.A. (\u201cSan Faustin\u201d);
\n\u25aa four out of eight members of Ternium\u2019s board of directors (including Ternium\u2019s chairman) are also members
\nof the Company\u2019s board of directors;
\n\u25aa under the shareholders\u2019 agreement by and between the Company and Techint Holdings S.\u00e0r.l (\"Techint\"),
\na wholly owned subsidiary of San Faustin and Ternium\u2019s main shareholder, dated January 9, 2006 Techint,
\nis required to take actions within its power to cause (a) one of the members of Ternium\u2019s board of directors
\nto be nominated by the Company and (b) any director nominated by the Company to be removed from
\nTernium\u2019s board of directors only pursuant to previous written instructions of the Company.
\n
\nb)
\n
\nUsiminas
\n
\nAt December 31, 2023, Tenaris held, through its Brazilian subsidiary Confab Industrial S.A. (\u201cConfab\u201d), 47.5 million
\nordinary shares and 1.3 million preferred shares of Usinas Sider\u00fargicas de Minas Gerais S.A. - Usiminas (\u201cUsiminas\u201d),
\nrepresenting 6.76% of its shares with voting rights and 3.96% of its total share capital.
\n
\nConfab\u2019s participation in Usiminas share capital is the result of a series of acquisitions, the first of which was
\nperformed on January 16, 2012, pursuant to which Ternium (through certain of its subsidiaries) and Confab
\nacquired a large block of Usiminas ordinary shares and joined Usiminas\u2019 existing control group. Subsequently, in
\n2016, Ternium and Confab subscribed to additional ordinary shares and to preferred shares.
\n
\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n
\n\n
\n\n
\n\nMore recently, on March 30, 2023, Confab, together with Ternium (through its subsidiaries Ternium Investments
\nand Ternium Argentina), agreed to acquire an additional 68.7 million ordinary shares of Usiminas at a price of BRL10
\nper ordinary share. The transaction closed on July 3, 2023 and was financed with cash on hand. Tenaris paid
\napproximately BRL110 million (approximately $22.7 million) in cash for approximately 11 million ordinary shares,
\nincreasing its participation in the Usiminas control group to 9.8%.
\n
\nThe Usiminas control group comprises the T/T Group, formed by Ternium Investments, Ternium Argentina and
\nConfab; the NSC Group, comprising Nippon Steel Corporation, Mitsubishi and MetalOne; and Usiminas\u2019 employee
\npension fund, Previd\u00eancia Usiminas. At December 31, 2023, the Usiminas control group held, in the aggregate,
\n483.6 million ordinary shares, representing approximately 68.6% of Usiminas\u2019 voting capital and the T/T Group held
\nan aggregate participation of 61.3% in the control group (with 51.5% of the control group\u2019s participation
\ncorresponding to Ternium\u2019s subsidiaries, and remaining 9.8% corresponding to Confab); the NSC Group and
\nPrevid\u00eancia Usiminas held 31.7% and 7%, respectively, in the control group.
\n
\nUpon closing of the July 3, 2023 acquisition, the then existing Usiminas shareholders agreement governing the
\nrelationship between the T/T Group, the NSC Group and Previd\u00eancia Usiminas was replaced by a new shareholders
\nagreement setting forth a new governance structure for Usiminas. The T/T Group is now entitled to nominate a
\nmajority of the Usiminas board of directors, the chief executive officer and four other members of the Usiminas
\nboard of officers. Of the positions allocated to the T/T Group, Tenaris retains the right to nominate one member of
\nthe Usiminas board of directors and one member of the Usiminas board of officers. Ordinary decisions may be
\napproved with a 55% majority of Usiminas\u2019 control group shares.
\n
\nAt any time after the second anniversary of the closing of the transaction, the T/T Group will have the right to buy
\nthe NSC Group\u2019s remaining interest in the Usiminas control group (153.1 million ordinary shares) at the higher of
\nBRL10 per share and the 40-trading day average price per share immediately prior to the date of exercising the
\noption. In addition, the NSC Group will have the right, at any time after the closing of the transaction, to withdraw
\nits remaining shares from the control group and sell them in the open market after giving the T/T Group the
\nopportunity to buy them at the 40-trading day average price per share, as well as the right, at any time after the
\nsecond anniversary of the closing, to sell such shares to the T/T Group at BRL10 per share. Confab will have the
\nright but not the obligation to participate in each such transaction pro rata to its current participation in the T/T
\nGroup.
\n
\nConfab and the Ternium entities party to the Usiminas shareholders agreement have a separate shareholders
\nagreement governing their respective rights and obligations as members of the T/T Group. Under such separate
\nagreement, Confab enjoys certain rights with respect to the governance of Usiminas, including, among others, the
\nability to nominate certain Usiminas\u2019 officers and directors. Those circumstances evidence that Tenaris continues
\nhaving significant influence over Usiminas and, as a result, continues accounting for its investment under the equity
\nmethod.
\n
\nc)
\n
\nTechgen
\n
\nTechgen S.A. de C.V. (\u201cTechgen\u201d), which operates an electric power plant in Mexico, is a joint venture company
\nowned 48% by Ternium, 30% by Tecpetrol International S.A. (\u201cTecpetrol\u201d) and 22% by Tenaris. The Company,
\nTernium and Tecpetrol are parties to a shareholders\u2019 agreement relating to the governance of Techgen and are
\nunder the indirect common control of San Faustin. Based on the facts stated above, the Company has determined
\nthat it has significant influence over this entity.
\n
\nd)
\n
\nGlobal Pipe Company
\n
\nGlobal Pipe Company (\u201cGPC\u201d) is a joint venture, established in 2010 and located in Jubail, Saudi Arabia, which
\nmanufactures LSAW pipes. Until May 16, 2023, Tenaris, through its subsidiary Saudi Steel Pipe Company (\"SSPC\")
\nowned 35% of the share capital of GPC and, accordingly was a non-consolidated company.
\n
\nOn May 17, 2023, SSPC acquired an additional 22.3% interest in GPC reaching a participation of 57.3%. The
\nCompany consolidates GPC\u2019s balances and results of operations as from May 17, 2023.
\n
\nFor more information on GPC's acquisition and its accounting treatment see note 34 \u201cBusiness Combinations -
\nGlobal Pipe Company acquisition
\n\u201d.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n\n
\n\n
\n\n
\n\nTenaris carries its investments in non-consolidated companies under the equity method, with no additional goodwill
\nor intangible assets recognized. Tenaris reviews investments in non-consolidated companies for impairment
\nwhenever events or changes in circumstances indicate that the asset\u2019s carrying amount may not be recoverable. For
\nmore information see note 14 to these Consolidated Financial Statements.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\nC Segment information
\n
\nThe Company is organized in one major business segment, Tubes, which is also the reportable operating segment.
\nAll other business activities and operating segments that are not required to be separately reported are disclosed in
\nthe Other segment.
\n
\nThe Tubes segment includes the production and sale of both seamless and welded steel tubular products and related
\nservices mainly for the oil and gas industry, particularly oil country tubular goods (\u201cOCTG\u201d) used in drilling
\noperations, and for other industrial applications with production processes that consist in the transformation of
\nsteel into tubular products. Business activities included in this segment are mainly dependent on the worldwide oil
\nand gas industry, as this industry is a major consumer of steel pipe products, particularly OCTG used in drilling
\nactivities. Demand for steel pipe products from the oil and gas industry has historically been volatile and depends
\nprimarily upon the number of oil and natural gas wells being drilled, completed and reworked, and the depth and
\ndrilling conditions of these wells. Sales are generally made to end users, with exports being done through a centrally
\nmanaged global distribution network and domestic sales are made through local subsidiaries.
\n
\nThe Other segment includes all business activities related to the production and selling of sucker rods, coiled tubing,
\ntubes used for plumbing and construction applications, oilfield / hydraulic fracturing services, the recently acquired
\ncoating business and others as energy and raw materials that exceed internal requirements.
\n
\nTenaris\u2019s Chief Operating Decision Maker (\u201cCODM\u201d) reviews operating and financial performance information with
\nsenior management on a monthly basis. This information differs from IFRS principally as follows:
\n
\n\u25aa the use of direct cost methodology to calculate the inventories, while under IFRS it is at full cost, including
\nabsorption of production overheads and depreciation;
\n\u25aa the use of costs based on previously internally defined cost estimates, while, under IFRS, costs are calculated
\nat historical cost, mainly on a FIFO basis;
\n\u25aa any currency translation adjustment reclassification, when applicable, for companies that under IFRS had a
\ndifferent functional currency than the U.S. dollar;
\nand
\n
\n\u25aa other timing differences, if any.
\n
\nTenaris presents its geographical information in four areas: North America, South America, Europe and Asia Pacific,
\nMiddle East and Africa. For purposes of reporting geographical information, net sales are allocated to geographical
\nareas based on the customer\u2019s location; allocation of assets, capital expenditures and associated depreciations and
\namortizations are based on the geographical location of the assets.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\nD Foreign currency translation
\n
\n\n(1)
\n
\nFunctional and presentation currency
\n
\nIAS 21 (revised), \u201cThe effects of changes in foreign exchange rates\u201d defines the functional currency as the currency
\nof the primary economic environment in which an entity operates.
\n
\nThe functional and presentation currency of the Company is the U.S. dollar. The U.S. dollar is the currency that best
\nreflects the economic substance of the underlying events and circumstances relevant to Tenaris\u2019s global operations.
\n
\nStarting January 1, 2023, the Company changed the functional currency of its Brazilian subsidiaries, from the
\nBrazilian Real to the U.S. dollar.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n\nThis decision was a result of a significant increase of its Brazilian Subsidiaries\u2019 participation in the OCTG and line
\npipe international markets, a trend which started in recent years and has been strengthened in 2022, an increased
\nlevel of integration of the local operations within Tenaris\u2019s international commercial and supply chain system, as
\nwell as the fact that the main purchase agreement contracts and the long term sales agreement contracts with
\nmajor international and local oil companies are either entered or indexed to the U.S. dollar. Local steel prices are
\nalso being affected by the U.S. dollar / Brazilian Real fluctuations.
\n
\nExcept for the Italian subsidiaries whose functional currency is the Euro and two recently acquired subsidiaries
\nwhose functional currencies are the Canadian Dollar and the Norwegian Krone, Tenaris determined that the
\nfunctional currency of its other subsidiaries is the U.S. dollar, based on the following principal considerations:
\n
\n\n
\n\n\n| \u25aa | \nsales are mainly negotiated, denominated and / or settled in U.S. dollars. If priced in a currency other than | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nthe U.S. dollar, the sales price may consider exposure to fluctuation in the exchange rate against the U.S. | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \ndollar; | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| \u25aa | \nprices of their critical raw materials and inputs are priced and / or settled in U.S. dollars; | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| \u25aa | \ntransaction and operational environment and the cash flow of these operations have the U.S. dollar as | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nreference currency; | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| \u25aa | \nthere is a significant level of integration of the local operations within Tenaris\u2019s international global | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \ndistribution network; | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| \u25aa | \nnet financial assets and liabilities are mainly received and maintained in U.S. dollars; and | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| \u25aa | \nthe exchange rate of certain legal currencies has long-been affected by recurring and severe economic | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \ncrises. | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n(2) Transactions in currencies other than the functional currency
\n
\nTransactions in currencies other than the functional currency are translated into the functional currency using the
\nexchange rates prevailing at the date of the transactions or valuation where items are re-measured.
\n
\nAt the end of each reporting period: (i) monetary items denominated in currencies other than the functional currency
\nare translated using the closing rates; (ii) non-monetary items that are measured in terms of historical cost in a
\ncurrency other than the functional currency are translated using the exchange rates prevailing at the date of the
\ntransactions; and (iii) non-monetary items that are measured at fair value in a currency other than the functional
\ncurrency are translated using the exchange rates prevailing at the date when the fair value was determined.
\n
\nForeign exchange gains and losses resulting from the settlement of such transactions and from the translation at
\nyear-end exchange rates of monetary assets and liabilities denominated in currencies other than the functional
\ncurrency are recorded as gains and losses from foreign exchange and included in
\nOther financial results
\n in the
\nConsolidated Income Statement, except when deferred in equity as qualifying cash flow hedges and qualifying net
\ninvestment hedges.
\n
\n(3) Translation of financial information in currencies other than the functional currency
\n
\nResults of operations for subsidiaries whose functional currencies are not the U.S. dollar are translated into U.S.
\ndollars at the average exchange rates for each quarter of the year. Financial statement positions are translated at
\nthe period-end exchange rates. Translation differences are recognized in a separate component of equity as currency
\ntranslation adjustments. In the case of a sale or other disposal of any of such subsidiaries, any accumulated
\ntranslation difference would be recognized in the Consolidated Income Statement as a gain or loss from the sale or
\ndisposal following IAS 21.
\n
\nGoodwill and fair value adjustments arising from the acquisition of a foreign operation are treated as assets and
\nliabilities of the foreign operation and translated at the closing exchange rate.
\n
\n\n\n\n\n\n\n
\n
\n\nE Property, plant and equipment
\n
\nProperty, plant and equipment are recognized at historical acquisition or construction cost less accumulated
\ndepreciation and impairment losses. Historical cost includes expenditure that is directly attributable to the acquisition
\nof the items. Property, plant and equipment acquired through acquisitions accounted for as business combinations
\nhave been valued initially at the fair market value of the assets acquired.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n
\n
\nMajor overhaul and rebuilding expenditures are capitalized as property, plant and equipment only when it is
\nprobable that future economic benefits associated with the item will flow to the Company and the investment
\nenhances the condition of assets beyond its original condition. The carrying amount of the replaced part is
\nderecognized. Maintenance expenses on manufacturing properties are recorded as cost of products sold in the year
\nin which they are incurred.
\n
\nCost may also include transfers from equity of any gains or losses on qualifying cash flow hedges of foreign currency
\npurchases of property, plant and equipment.
\n
\n\nBorrowing costs that are attributable to the acquisition or construction of certain capital assets are capitalized as
\npart of the cost of the asset, in accordance with IAS 23 (revised), \u201cBorrowing Costs\u201d. Assets for which borrowing
\ncosts are capitalized are those that require a substantial period of time to prepare for their intended use.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\nThe depreciation method is reviewed at each year end. Depreciation is calculated using the straight-line method to
\ndepreciate the cost of each asset to its residual value over its estimated useful life, as follows:
\n
\n
\n\n
\n\n\n| Land | \n | \nNo Depreciation | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Buildings and improvements | \n | \n30-50 years | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Plant and production equipment | \n | \n10-40 years | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Vehicles, furniture and fixtures, and other | \nequipment | \n 4-10 years | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nThe assets\u2019 residual values and useful lives of significant plant and production equipment are reviewed and adjusted,
\nif appropriate, at each year-end date. An asset\u2019s carrying amount is written down immediately to its recoverable
\namount if the asset\u2019s carrying amount is greater than its estimated recoverable amount.
\n
\nManagement\u2019s re-estimation of assets useful lives, performed in accordance with IAS 16, \u201cProperty, Plant and
\nEquipment\u201d, resulted in additional depreciation expenses of approximately $39 million for 2022, and did not
\nmaterially affect depreciation expenses for 2023 and 2021.
\n
\nTenaris depreciates each significant part of an item of property, plant and equipment for its different production
\nfacilities that (i) can be properly identified as an independent component with a cost that is significant in relation to
\nthe total cost of the item, and (ii) has a useful operating life that is different from another significant part of that
\nsame item of property, plant and equipment.
\n
\nGains and losses on disposals are determined by comparing the proceeds with the carrying amount of assets and
\nare recognized under
\nOther operating income
\nor
\nOther operating expenses
\n in the Consolidated Income Statement.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n
\n
\nF Intangible assets
\n
\n\n
\n\n(1) Goodwill
\n
\nGoodwill represents the excess of the acquisition cost over the fair value of Tenaris\u2019s share of net identifiable assets
\nacquired as part of business combinations determined mainly by independent valuations. Goodwill is tested at least
\nannually for impairment and carried at cost less accumulated impairment losses. Impairment losses on goodwill are
\nnot reversed. Goodwill is included in the Consolidated Statement of Financial Position under
\nIntangible assets, net.
\n
\nFor the purpose of impairment testing, goodwill is allocated to a cash generating unit (\u201cCGU\u201d) or group of CGUs
\nthat are expected to benefit from the business combination which generated the goodwill being tested.
\n
\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n (2) Information systems projects
\n
\nCosts associated with maintaining computer software programs are generally recognized as an expense as incurred.
\nHowever, costs directly related to the development, acquisition and implementation of information systems are
\nrecognized as intangible assets if it is probable that they have economic benefits exceeding one year and comply
\nwith the recognition criteria of IAS 38, \u201cIntangible Assets\u201d.
\n
\n\nInformation systems projects recognized as assets are amortized using the straight-line method over their useful
\nlives, generally not exceeding a period of 3 years. Amortization charges are mainly classified as
\nSelling, general and
\nadministrative expenses
\n in the Consolidated Income Statement.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n
\n
\n
\n
\n
\n
\n
\n
\n\n
\n
\n
\n
\n
\n
\n\nManagement\u2019s re-estimation of assets useful lives, performed in accordance with IAS 38, did not materially affect
\namortization expenses for 2023, 2022 and 2021.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n(3) Licenses, patents, trademarks and proprietary technology
\n
\nLicenses, patents, trademarks, and proprietary technology are initially recognized at fair value at the acquisition
\ndate. Licenses, patents, proprietary technology and those trademarks that have a finite useful life are carried at cost
\nless accumulated amortization. Amortization is calculated using the straight-line method to allocate the cost over
\ntheir estimated useful lives, which are in the range between 3 and 20 years. Amortization charges are mainly
\nclassified as Cost of sales in the Consolidated Income Statement.
\n
\nThe balance of acquired trademarks that have indefinite useful lives according to external appraisal amounts to
\n$86.7 million at December 31, 2023, 2022 and 2021, and are included in Hydril CGU. Main factors considered in
\nthe determination of the indefinite useful lives include the years that they have been in service and their recognition
\namong customers in the industry.
\n
\n\nManagement\u2019s re-estimation of assets useful lives, performed in accordance with IAS 38, did not materially affect
\namortization expenses for 2023, 2022 and 2021.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n
\n\n(4) Research and development
\n
\nResearch expenditures as well as development costs that do not fulfill the criteria for capitalization are recorded as
\nCost of sales
\n in the Consolidated Income Statement as incurred. Research and development expenditures included
\nin
\nCost of sales
\n for the years 2023, 2022 and 2021 totaled $60.0 million, $50.7 million and $45.3 million,
\nrespectively.
\n
\nCapitalized costs were not material for the years 2023, 2022 and 2021.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n(5) Customer relationships
\n
\nIn accordance with IFRS 3, \"Business Combinations\" and IAS 38, Tenaris has recognized the value of customer
\nrelationships separately from goodwill attributable to the acquisition of Maverick Tube Corporation (\u201cMaverick\u201d) and
\nHydril Company (\u201cHydril\u201d) groups, SSPC, Ipsco Tubulars Inc. (\u201cIPSCO\u201d) and the more recent acquisition of Mattr\u2019s pipe
\ncoating business unit.
\n
\n\nCustomer relationships acquired in a business combination are recognized at fair value at the acquisition date, have a
\nfinite useful life and are carried at cost less accumulated amortization. Amortization is calculated using the straight line
\nmethod over the initial expected useful lives which were approximately 14 years for Maverick, 10 years for Hydril, 9
\nyears for SSPC, 3 years for IPSCO, and 4 months for Mattr\u2019s pipe coating business unit.
\n
\nIn 2022, the Company reviewed the useful life of SSPC\u2019s customer relationships and decided to reduce it from 5 years
\nto 3 years, consequently a higher amortization charge of approximately $4.1 million was recorded in the Consolidated
\nIncome Statement under
\nSelling, general and administrative expenses
\n for the year ended December 31, 2022.
\n
\nManagement\u2019s re-estimation of assets useful lives, performed in accordance with IAS 38, did not affect amortization
\nexpenses for 2023 and 2021.
\n
\nAs of December 31, 2023 the net book value of SSPC\u2019s customer relationship amounted to $26.4 million, with a
\nresidual useful life of 1 year and 9 months, Mattr\u2019s amounted to $21.5, with a residual useful life of 3 months, while
\nIPSCO\u2019s, Maverick\u2019s and Hydril\u2019s customer relationships were fully amortized.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\nG Right-of-use assets and lease liabilities
\n
\nLeases are recognized as a right-of-use asset and a corresponding liability at the date at which the leased asset is
\navailable for use by the group. Each lease payment is allocated between the liability and finance cost. The finance
\ncost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the
\nremaining balance of the liability for each period. The right-of-use asset is depreciated over the lease term on a
\nstraight-line basis.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\nLease liabilities include the net present value of i) fixed payments, less any lease incentives receivable, ii) variable
\nlease payments that are based on an index or a rate, iii) amounts expected to be payable by the lessee under residual
\nvalue guarantees, iv) the exercise price of a purchase option if the lessee is reasonably certain to exercise that option,
\nand v) payments of penalties for terminating the lease, if the lease term reflects the lessee exercising that option.
\n
\nThe lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be determined,
\nthe lessee\u2019s incremental borrowing rate is used, being the rate that the lessee would have to pay to borrow the
\nfunds necessary to obtain an asset of similar value in a similar economic environment with similar terms and
\nconditions.
\n
\nRight-of-use assets are measured at cost comprising the amount of the initial measurement of the lease liability,
\nany lease payments made at or before the commencement date less any lease incentives received and any initial
\ndirect costs incurred by the lessee.
\n
\nIn determining the lease term, management considers all facts and circumstances that create an economic incentive
\nto exercise an extension option or early termination, or not to exercise a termination option. Extension options (or
\nperiods after termination options) are only included in the lease term if the lease is reasonably certain to be extended
\n(or not terminated).
\n
\nPayments associated with short-term leases, variable leases and leases of low value assets are recognized on a
\nstraight-line basis as expenses in profit or loss. Short-term leases are leases with a lease term of 12 months or less.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n
\n\nH Impairment of non-financial assets
\n
\nLong-lived assets including identifiable intangible assets are reviewed for impairment at the lowest level for which
\nthere are separately identifiable cash flows (\u201cCGU\u201d). Most of the Company\u2019s principal subsidiaries that constitute
\na CGU have a single main production facility and, accordingly, each of such subsidiaries represents the lowest level
\nof asset aggregation that generates largely independent cash inflows.
\n
\nAssets that are subject to amortization or depreciation are reviewed for impairment whenever events or changes in
\ncircumstances indicate that the carrying amount may not be recoverable. Intangible assets with indefinite useful
\nlives, including goodwill, are subject to at least an annual impairment test, or are tested more frequently if events
\nor circumstances indicate that the carrying amount value may be impaired. In some situations where there have not
\nbeen significant changes to CGU assets and liabilities as well as external and internal events and circumstances
\nwhich could materially alter the recoverable amount of the CGU, the most recent detailed calculation of recoverable
\namount made in a preceding period may be used in the impairment test for that CGU in the current period.
\n
\nIn assessing whether there is any indication that a CGU may be impaired, external and internal sources of
\ninformation are analyzed. Material facts and circumstances specifically considered in the analysis usually include the
\ndiscount rate used in Tenaris\u2019s cash flow projections and the business condition in terms of competitive, economic
\nand regulatory factors, such as the cost of raw materials, oil and gas prices, and the evolution of the rig count.
\n
\nAn impairment loss is recognized for the amount by which the asset\u2019s carrying amount exceeds its recoverable
\namount. The recoverable amount is the higher between the asset\u2019s value in use and fair value less costs of disposal.
\nAny impairment loss is allocated to reduce the carrying amount of the assets of the CGU in the following order:
\n
\n(a) first, to reduce the carrying amount of any goodwill allocated to the CGU; and
\n(b) then, to the other assets of the unit (group of units) pro-rata on the basis of the carrying amount of each asset
\nin the unit (group of units), considering not to reduce the carrying amount of the asset below the highest of its fair
\nvalue less cost of disposal, its value in use or zero.
\n
\nValue in use is calculated by discounting the estimated cash flows over a five year period (or higher if the period
\ncan be justified) based on forecasts approved by management. For the subsequent years beyond the five-year
\nperiod, a terminal value is calculated based on perpetuity considering a nominal growth rate of 2% taking into
\naccount among others, mainly the historical inflation rate.
\n
\nFor purposes of calculating the fair value less costs of disposal, Tenaris uses the estimated value of future cash flows
\nthat a market participant could generate from the corresponding CGU.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n\n
\n\nManagement judgment is required to estimate discounted future cash flows. Actual cash flows and values could
\nvary significantly from the forecasted future cash flows and related values derived using discounting techniques.
\n
\nNon-financial assets other than goodwill that suffered an impairment are reviewed for possible reversal at each
\nreporting date. For more information on impairment charges see note 5 to these Consolidated Financial Statements.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n
\nI Other investments
\n
\nOther investments consist primarily of investments in financial instruments and time deposits with a maturity of
\nmore than three months at the date of purchase.
\n
\n\n\n\nCertain non-derivative financial assets that the Company held not for trading have been categorized as financial
\nassets at fair value through other comprehensive income (\u201cFVOCI\u201d), as the business model objective is achieved by
\nboth holding financial assets in order to collect contractual cash flows and selling financial assets. They are carried
\nat fair value and interest income from these financial assets is included in finance income using the effective interest
\nrate method. Unrealized gains or losses are recorded as a fair value adjustment in the Consolidated Statement of
\nComprehensive Income and transferred to the Consolidated Income Statement when the financial asset is disposed.
\nExchange gains and losses and impairments related to the financial assets are immediately recognized in the
\nConsolidated Income Statement. FVOCI instruments with maturities greater than 12 months after the balance sheet
\ndate are included in non-current assets.
\n\n\n\n\n
\n\nOther investments in financial instruments and time deposits are categorized as financial assets at fair value through
\nprofit or loss (\u201cFVPL\u201d) because such investments are held for trading and their performance is evaluated on a fair
\nvalue basis. The results of these investments are recognized in
\nFinancial Results
\n in the Consolidated Income
\nStatement.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nPurchases and sales of financial investments are recognized as of their settlement date.
\n
\nThe fair values of quoted investments are generally based on current bid prices. If the market for a financial investment
\nis not active or the securities are not listed, Tenaris estimates the fair value by using standard valuation techniques. See
\nsection III Financial Risk Management.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\nJ Inventories
\n
\nInventories are stated at the lower between cost and net realizable value. The cost of finished goods and goods in
\nprocess is comprised of raw materials, direct labor, utilities, freights and other direct costs and related production
\noverhead costs, and it excludes borrowing costs. The allocation of fixed production costs, including depreciation
\nand amortization charges, is based on the normal level of production capacity. Inventories cost is mainly based on
\nthe FIFO method. Tenaris estimates the net realizable value of inventories by grouping, where applicable, similar or
\nrelated items. Net realizable value is the estimated selling price in the ordinary course of business, less any estimated
\ncosts of completion and selling expenses. Goods in transit as of year-end are valued based on the supplier\u2019s invoice
\ncost.
\n
\nTenaris establishes an allowance for obsolete or slow-moving inventories related to finished goods, goods in process,
\nsupplies and spare parts. For slow moving or obsolete finished products, an allowance is established based on
\nmanagement\u2019s analysis of product aging. An allowance for obsolete and slow-moving inventory of supplies and
\nspare parts is established based on management's analysis of such items to be used as intended and the
\nconsideration of potential obsolescence due to technological changes, aging and consumption patterns.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\nK Trade and other receivables
\n
\nTrade and other receivables are recognized initially at fair value that corresponds to the amount of consideration that
\nis unconditional unless they contain significant financing components. The Company holds trade receivables with the
\nobjective to collect the contractual cash flows and therefore measures them subsequently at amortized cost using the
\neffective interest method. Due to their short-term nature, their carrying amount is considered to be the same as their
\nfair value.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n\nTenaris applies the IFRS 9 \u201cFinancial Instruments\u201d simplified approach to measure expected credit losses, which uses
\na lifetime expected loss allowance for all trade receivables. To measure the expected credit losses, trade receivables
\nhave been grouped based on shared credit risk characteristics and the days past due. The expected loss rates are based
\non the payment profiles of sales over a period of three years and the corresponding historical credit losses experienced
\nwithin this period. The expected loss allowance also reflects current and forward-looking information on
\nmacroeconomic factors affecting the ability of each customer to settle the receivables.
\n
\n\n\n\n
\n
\n\nL Cash and cash equivalents
\n
\nCash and cash equivalents are comprised of cash at banks, liquidity funds and short-term investments with a maturity
\nof less than three months at the date of purchase which are readily convertible to known amounts of cash. Assets
\nrecorded in cash and cash equivalents are carried at fair market value or at historical cost which approximates fair
\nmarket value.
\n
\nIn the Consolidated Statement of Financial Position, bank overdrafts are included in
\nBorrowings
\n in current liabilities.
\n
\nFor the purposes of the Consolidated Statement of Cash Flows,
\nCash and cash equivalents
\n includes overdrafts.
\n
\n\n\n\n
\n
\n\n
\n\n
\n
\n
\nM Equity
\n
\n(1) Equity components
\n
\nThe Consolidated Statement of Changes in Equity includes:
\n
\n\u25aa the value of share capital, legal reserve, share premium and other distributable reserves calculated in
\naccordance with Luxembourg law;
\n\u25aa the currency translation adjustment, treasury shares, other reserves, retained earnings and non-controlling
\ninterest calculated in accordance with IFRS.
\n
\n\n(2)
\n
\nShare capital
\n
\nThe Company has an authorized share capital of a single class of 2.5 billion shares having a nominal value of $1.00
\nper share. Total ordinary shares issued as of December 31, 2023, 2022 and 2021 were 1,180,536,830 with a par
\nvalue of $1.00 per share with one vote each. Total ordinary shares outstanding as of December 31, 2023, were
\n1,167,888,739 and as of December 31, 2022 and 2021 were 1,180,536,830 with a par value of $1.00 per share
\nwith one vote each. Outstanding shares do not include treasury shares. All issued shares are fully paid.
\n
\n\n\n\n
\n\n(3)
\n
\nTreasury Shares
\n
\nAcquisitions of treasury shares are recorded at acquisition cost, deducted from equity until disposal or cancellation.
\nAny potential gains or losses on disposal of treasury shares are recognized under
\nOther reserves
\n in the Consolidated
\nStatement of Changes in Equity. Treasury shares outstanding as of December 31, 2023, were 12,648,091.
\n
\n\n\n\n
\n\n(4)
\n
\nDividends distribution by the Company to shareholders
\n
\nDividends distributions are recorded in the Company\u2019s financial statements when Company\u2019s shareholders have the
\nright to receive the payment, or when interim dividends are approved by the Board of Directors in accordance with
\nthe by-laws of the Company.
\n
\nDividends may be paid by the Company to the extent that it has distributable retained earnings, calculated in
\naccordance with Luxembourg law. See note 27 (iii) to these Consolidated Financial Statements.
\n
\n\n\n\n
\n\n\n\n
\n\n\n\n
\n
\n\nN Borrowings
\n
\nBorrowings are recognized initially at fair value net of transaction costs incurred and subsequently measured at
\namortized cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is
\nrecognized in profit or loss over the period of the borrowings using the effective interest method.
\n
\n\n\n\n
\n\n\n\n
\n
\n\n
\n
\nO Current and deferred income tax
\n
\nThe income tax expense or credit for the period is the tax payable or recoverable on the current period\u2019s taxable
\nincome based on the applicable income tax rate for each jurisdiction adjusted by changes in deferred tax assets and
\nliabilities attributable to temporary differences and to unused tax losses. Current and deferred tax is recognized in
\nthe Consolidated Income Statement, except to the extent that it relates to items recognized in other comprehensive
\nincome or directly in equity. In these cases, the tax is also recognized in other comprehensive income or directly in
\nequity, respectively.
\n
\nThe current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the
\nreporting date in the countries where the Company\u2019s subsidiaries operate and generate taxable income.
\n
\n\nDeferred income tax is recognized applying the liability method on temporary differences arising between the tax
\nbases of assets and liabilities and their carrying amounts in the financial statements. The temporary differences arise
\nmainly from net operating loss carry-forwards, the effect of currency translation on depreciable fixed assets and
\ninventories, depreciation on property, plant and equipment, valuation of inventories, provisions for post-
\nemployment benefits and other long-term employee benefits and fair value adjustments of assets acquired in
\nbusiness combinations. However, deferred tax liabilities are not recognized if they arise from the initial recognition
\nof goodwill. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the time
\nperiod when the asset is realized or the liability is settled, based on tax laws that have been enacted or substantively
\nenacted at the reporting date.
\n
\nManagement periodically evaluates positions taken in tax returns with respect to situations in which applicable tax
\nregulation is subject to interpretation and considers whether it is probable that a taxation authority will accept an
\nuncertain tax treatment. The Company measures its tax balances either based on the most likely amount or the
\nexpected value, depending on which method provides a better prediction of the resolution of the uncertainty.
\n
\nDeferred tax assets are recognized to the extent that it is probable that future taxable profits will be available against
\nwhich the temporary differences and losses can be utilized. At the end of each reporting period, Tenaris reassesses
\nunrecognized deferred tax assets. Tenaris recognizes a previously unrecognized deferred tax asset to the extent that
\nit has become probable that future taxable income will allow the deferred tax asset to be recovered.
\n
\nDeferred tax liabilities and assets are not recognized for temporary differences between the carrying amount and
\ntax basis of investments in foreign operations where the company is able to control the timing of the reversal of the
\ntemporary differences and it is probable that the differences will not reverse in the foreseeable future.
\n
\nDeferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets and
\nliabilities and when the deferred tax balances relate to the same taxation authority. Current tax assets and tax
\nliabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net
\nbasis, or to realize the asset and settle the liability simultaneously.
\n
\nDeferred tax assets and liabilities are re-measured if tax rates change. These amounts are charged or credited to the
\nConsolidated Income Statement or to the item
\nOther comprehensive income
\nin the Consolidated Statement of
\nComprehensive Income, depending on the account to which the original amount was charged or credited.
\n
\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\nP Employee benefits
\n
\n(1)
\n
\nShort-term obligations
\n
\nLiabilities for wages and salaries are recognized in respect of employees\u2019 services up to the end of the reporting
\nperiod and are measured at the amounts expected to be paid when the liabilities are settled. The liabilities are
\npresented as current employee benefit obligations in the balance sheet.
\n
\n(2)
\n
\nPost-employment benefits
\n
\nThe Company has defined benefit and defined contribution plans. A defined benefit plan is a pension plan that
\ndefines an amount of pension benefit that an employee will receive on retirement, usually dependent on one or
\nmore factors such as age, years of service and compensation.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\nThe liability recognized in the statement of financial position in respect of defined benefit pension plans is the
\npresent value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets,
\nif any. The defined benefit obligation is calculated annually (at year end) by independent actuaries using the
\nprojected unit credit method. The present value of the defined benefit obligation is determined by discounting the
\nestimated future cash flows using interest rates of high-quality corporate bonds that are denominated in the
\ncurrency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the
\nrelated pension obligation.
\n
\nRemeasurement gains and losses arising from experience adjustments and changes in actuarial assumptions are
\ncharged or credited to equity in
\nOther comprehensive income
\n in the period in which they arise. Past-service costs
\nare recognized immediately in the Income Statement.
\n
\nFor defined benefit funded plans, net interest income / expense is calculated based on the surplus or deficit derived
\nby the difference between the defined benefit obligations less fair value of plan assets.
\n
\nFor defined contribution plans, the Company pays contributions to publicly or privately administered pension
\ninsurance plans on a mandatory, contractual or voluntary basis. The Company has no further payment obligations
\nonce the contributions have been paid. The contributions are recognized as employee benefit expenses when they
\nare due. Prepaid contributions are recognized as an asset to the extent that a cash refund or a reduction in the
\nfuture payments is available.
\n
\nTenaris sponsors funded and unfunded defined benefit pension plans in certain subsidiaries. The most significant
\nare:
\n
\n\u25aa An unfunded defined benefit employee retirement plan for certain senior officers. The plan is designed to
\nprovide certain benefits to those officers (additional to those contemplated under applicable labor laws) in
\ncase of termination of the employment relationship due to certain specified events, including retirement.
\nThis unfunded plan provides defined benefits based on years of service and final average salary. As of
\nDecember 31, 2023 the outstanding liability for this plan amounts to $48.1 million.
\n
\n\u25aa Employees\u2019 service rescission indemnity. The cost of this obligation is charged to the Consolidated Income
\nStatement over the expected service lives of employees. This provision is primarily related to the liability
\naccrued for employees at Tenaris\u2019s Italian subsidiary. As from January 1, 2007 as a consequence of a change
\nin an Italian law, employees were entitled to make contributions to external funds, thus, Tenaris\u2019s Italian
\nsubsidiary pays every year the required contribution to the funds with no further obligation. As a result, the
\nplan changed from a defined benefit plan to a defined contribution plan effective from that date, but only
\nlimited to the contributions of 2007 onwards. As of December 31, 2023 the outstanding liability for this
\nplan amounts to $10.6 million.
\n
\n\u25aa Funded retirement benefit plan held in the U.S. for the benefit of some employees hired prior a certain
\ndate, frozen for the purposes of credited service as well as determination of final average pay for the
\nretirement benefit calculation. Plan assets consist primarily of investments in equities and money market
\nfunds. Additionally, an unfunded post-retirement health and life plan is in place that offers limited medical
\nand life insurance benefits to the retirees, frozen to new participants. As of December 31, 2023 the
\noutstanding liability for these plans amounts to $5.6 million.
\n
\n\u25aa Funded retirement benefit plans held in Canada for salary and hourly employees hired prior to a certain
\ndate based on years of service and, in the case of salaried employees, final average salary. Plan assets consist
\nprimarily of annuities purchased from an insurance company for the benefit of current and future retirees,
\ninvestments in debt and equity instruments. Both plans were replaced for defined contribution plans.
\nEffective June 2016 the salary plan was frozen for the purposes of credited service as well as determination
\nof final average pay. As of December 31, 2023 the plan was overfunded and the net assets related to this
\nplan amounted to $10.8 million.
\n
\n(3)
\n
\nOther long-term benefits
\n
\nDuring 2007, Tenaris launched an employee retention and long-term incentive program
\n
\n(\u201cthe Program\u201d) applicable
\nto certain senior officers and employees of the Company, who will be granted a number of units throughout the
\nduration of the Program. The value of each of these units is based on Tenaris\u2019s shareholders\u2019 equity (excluding non-
\ncontrolling interest). Until the end of 2017, the units were vested ratably over a period of four years and were
\nmandatorily redeemed by the Company ten years after grant date, with the option of an early redemption at seven
\nyears after the grant date. Since 2018, the units are vested ratably over the same period and are mandatorily
\nredeemed by the Company seven years after grant date.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n\n
\nThe beneficiaries of the Program are entitled to receive cash amounts based on: (i) the amount of dividend payments
\nmade by Tenaris to its shareholders and (ii) the number of units held by each beneficiary to the Program. The
\npayment of the benefit is tied to the book value of the shares, and not to their market value. Tenaris valued this
\nlong-term incentive program as a long-term benefit plan as classified in IAS 19, \u201cEmployee Benefits\u201d.
\n
\nAs of December 31, 2023 and 2022, the outstanding liability corresponding to the Program amounts to $119.6
\nmillion and $94.4 million, respectively. The total value of the units granted (vested and unvested) to date under the
\nprogram, considering the number of units and the book value per share as of December 31, 2023 and 2022, is
\n$144.0 million and $123.9 million, respectively.
\n
\n\n(4)
\n
\nTermination benefits
\n
\nTermination benefits are payable when employment is terminated by Tenaris before the normal retirement date, or
\nwhen an employee accepts voluntary redundancy in exchange for these benefits. Tenaris recognizes termination
\nbenefits at the earlier of the following dates: (a) when it can no longer withdraw the offer of those benefits; and
\n(b) when the costs for a restructuring that is within the scope of IAS 37 involves the payment of terminations
\nbenefits. In the case of an offer made to encourage voluntary redundancy, the termination benefits are measured
\nbased on the number of employees expected to accept the offer.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n(5)
\n
\nOther compensation obligations
\n
\nEmployee entitlements to annual leave, long-service leave, sick leave and other bonuses and compensations
\nobligations are accrued as earned.
\n
\nCompensation to employees in the event of dismissal is charged to income in the year in which it becomes payable.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\nQ Provisions
\n
\nTenaris is subject to various claims, lawsuits and other legal proceedings, including customer claims, in which a third
\nparty is seeking payment for alleged damages, reimbursement for losses or indemnity. Tenaris\u2019s potential liability
\nwith respect to such claims, lawsuits and other legal proceedings cannot be estimated with certainty. Management
\nperiodically reviews the status of each significant matter and assesses potential financial exposure. If, as a result of
\npast events, a potential loss from a claim or proceeding is considered probable and the amount can be reliably
\nestimated, a provision is recorded. Accruals for loss contingencies reflect a reasonable estimate of the losses to be
\nincurred based on information available to management as of the date of preparation of the financial statements,
\nand take into consideration Tenaris\u2019s litigation and settlement strategies. These estimates are primarily constructed
\nwith the assistance of legal counsel. As the scope of liabilities become better defined, there may be changes in the
\nestimates of future costs which could have a material adverse effect on its results of operations, financial condition
\nand cash flows.
\n
\nIf Tenaris expects to be reimbursed for an accrued expense, as would be the case for an expense or loss covered
\nunder an insurance contract, and reimbursement is considered virtually certain, the expected reimbursement is
\nrecognized as a receivable.
\n
\nThis note should be read in conjunction with note 27 to these Consolidated Financial Statements.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\nR Trade and other payables
\n
\nTrade and other payables are recognized initially at fair value, generally the nominal invoice amount and
\nsubsequently measured at amortized cost. They are presented as current liabilities unless payment is not due within
\ntwelve months after the reporting period. Due to their short-term nature their carrying amounts are considered to
\nbe the same as their fair value.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\nS Revenue recognition
\n
\nRevenue comprises the fair value of the consideration received or receivable for the sale of goods and rendering of
\nservices in the ordinary course of Tenaris\u2019s activities. The revenue recognized by the Company is measured at the
\ntransaction price of the consideration received or receivable to which the Company is entitled to, reduced by
\nestimated returns and other customer credits, such as discounts and volume rebates, based on the expected value
\nto be realized and after eliminating sales within the group.
\n
\nRevenue is recognized at a point in time or over time from sales when control has been transferred and there is no
\nunfulfilled performance obligation that could affect the acceptance of the product by the customer. The control is
\ntransferred upon delivery. Delivery occurs when the products have been shipped to the specific location, the risks
\nof obsolescence and loss have been transferred and either the customer has accepted the product in accordance
\nwith the sales contract, the acceptance provisions have lapsed or the Company has objective evidence that all criteria
\nfor acceptance have been satisfied, including all performance obligations. These conditions are determined and
\nanalyzed on a contract by contract basis to ensure that all performance obligations are fulfilled. In particular, Tenaris
\nverifies customer acceptance of the goods, the satisfaction of delivery terms and any other applicable condition.
\n
\nFor bill and hold transactions revenue is recognized only to the extent that (a) the reason for the bill and hold
\narrangement must be substantive (for example, the customer has requested the arrangement); (b) the products
\nhave been specifically identified and are ready for delivery; (c) the Company does not have the ability to use the
\nproduct or to direct it to another customer; (d) the usual payment terms apply.
\n
\n\nThe Company\u2019s contracts with customers do not provide any material variable consideration, other than discounts,
\nrebates and right of return. Discounts and rebates are recognized based on the most likely value and rights of return
\nare based on expected value considering past experience and contract conditions.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nWhere the contracts include multiple performance obligations, the transaction price is allocated to each
\nperformance obligation based on the stand-alone selling prices. Where these are not directly observable, they are
\nestimated based on the expected cost plus margin.
\n
\nThere are no judgements applied by management that significantly affect the determination of timing of satisfaction
\nof performance obligations, nor the transaction price and amounts allocated to different performance obligations.
\n
\nTenaris provides services primarily related to goods sold, which represent a non-material portion of sales revenue
\nand mainly include:
\n
\nPipe Management Services:
\nThis comprises mainly preparation of the pipes ready to be run, delivery to the customer,
\nstorage services and rig return.
\n
\n
\nField Services:
\nComprises field technical support and running assistance.
\n
\nThese services are rendered in connection to the sales of goods and are attached to contracts with customers for
\nthe sale of goods. A significant portion of service revenue is recognized in the same period as the goods sold. There
\nare no distinct uncertainties in the revenues and cash flows of the goods sold and services rendered as they are
\nincluded in the same contract, have the same counterparty and are subject to the same conditions.
\n
\nThe Company also provides hydraulic fracturing, coiled tubing and coating services. The revenue related to these
\nservices is included in the Other segment.
\n
\nRevenue from providing services is recognized over time in the accounting period in which the services are rendered.
\n
\nThe following inputs and outputs methods are applied to recognize revenue considering the nature of service:
\n
\nStorage services:
\n the Company provides storage services in owned or third-party warehouses, subject to a variable
\nfee to be invoiced. This fee is determined based on the time that the customer maintains the material in the
\nwarehouse and the amount of the material stored. In the majority of cases, to quantify the amount to be invoiced
\nin any given month, the monthly average fee of storage per ton is multiplied by the monthly average stock stored
\n(in tons).
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n\n
\nFreights:
\nthe revenue is recognized on a pro rata basis considering the units delivered and time elapsed.
\n
\nField services:
\n the revenue is recognized considering output methods, in particular surveys of service completion
\nprovided by the customer.
\n
\nThe Company does not expect to have any contracts where the period between the transfer of the promised goods
\nor services to the customer and payment by the customer exceeds one year. As a consequence, considering that
\nthe contracts do not include any significant financing component, the Company does not adjust any of the
\ntransaction prices for the time value of money. For this reason, the Company is also applying the practical expedient
\nnot to disclose details on transaction prices allocated to the remaining performance obligations as of the end of the
\nreporting period.
\n
\nTenaris only provides standard quality warranties assuring that the goods sold will function as expected or are fit
\nfor their intended purpose, with no incremental service to the customer. Accordingly, warranties do not constitute
\na separate performance obligation.
\n
\n\nOther revenues earned by Tenaris are recognized on the following basis:
\n
\n\u25aa Interest income: on the effective yield basis.
\n\u25aa Dividend income from investments in other companies: when Tenaris\u2019s right to receive payment is
\nestablished.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\u25aa Net income from other sales: when control is transferred to the customer.
\n\u25aa Construction / coating contracts revenues: in accordance with the stage of the project completion.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\nT Cost of sales and other selling expenses
\n
\nCost of sales and other selling expenses are recognized in the Consolidated Income Statement on the accrual basis
\nof accounting.
\n
\nCommissions, freights and other selling expenses, including shipping and handling costs, are recorded in
\nSelling,
\ngeneral and administrative expenses
\nin the Consolidated Income Statement.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n
\nU Earnings per share
\n
\nEarnings per share are calculated by dividing the income attributable to the shareholders\u2019 equity by the monthly
\nweighted average number of common shares outstanding during the period.
\n
\nThere are no dilutive potential ordinary shares.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n
\nV Financial instruments
\n
\nNon-derivative financial instruments comprise investments in financial debt instruments and equity, time deposits,
\ntrade and other receivables, cash and cash equivalents, borrowings and trade and other payables.
\n
\nThe Company classifies its financial instruments according to the following measurement categories:
\n
\n\u25aa those to be measured subsequently at fair value (either through OCI or through profit or loss), and
\n\u25aa those to be measured at amortised cost.
\n
\nThe classification depends on the Company\u2019s business model for managing the financial assets and contractual
\nterms of the cash flows.
\n
\n\nFinancial assets are recognized on their settlement date. Financial assets are derecognized when the rights to receive
\ncash flows from the financial assets have expired or have been transferred and the Company has transferred
\nsubstantially all the risks and rewards of ownership.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n\n
\n
\nAt initial recognition, the Company measures a financial asset at its fair value plus, in the case of a financial asset
\nnot at fair value through profit or loss, transaction costs that are directly attributable to the acquisition of the
\nfinancial asset. Transaction costs of financial assets carried at fair value through profit or loss are expenses in profit
\nor loss.
\n
\nSubsequent measurement of debt instruments depends on the Company\u2019s business model for managing the asset
\nand the cash flow characteristics of the asset. There are three measurement categories into which the Company
\nclassifies its debt instruments:
\n
\nAmortized Cost
\n: Assets that are held for collection of contractual cash flows where those cash flows represent solely
\npayments of principal and interest. Interest income from these financial assets is included in finance income using
\nthe effective interest rate method.
\n
\n\n
\n\nExchange gains and losses and impairments related to the financial assets are immediately recognized in the
\nConsolidated Income Statement.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nFair value through other comprehensive income
\n: Assets that are held for collection of contractual cash flows and
\nfor selling the financial assets, where the assets\u2019 cash flows represent solely payments of principal and interest.
\nInterest income from these financial assets is included in finance income using the effective interest rate method.
\nUnrealized gains or losses are recorded as a fair value adjustment in the Consolidated Statement of Comprehensive
\nIncome and transferred to the Consolidated Income Statement when the financial asset is sold.
\n
\n\nFair value through profit and loss
\n: Assets that do not meet the criteria for amortized cost or FVOCI. Changes in fair
\nvalue of financial instruments at FVPL are immediately recognized in the Consolidated Income Statement.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nEquity instruments are subsequently measured at fair value.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nAccounting for derivative financial instruments and hedging activities is included within the section III, Financial Risk
\nManagement.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag852": {
"value": "\n
\n
\n
\n
\n
\n
\nA Basis of presentation
\n
\n\n
\nThe Consolidated Financial Statements of Tenaris have been prepared in accordance with International Financial
\nReporting Standards (\u201cIFRS\" or \"IFRS Accounting Standards\u201d), as issued by the International Accounting Standards
\nBoard (\u201cIASB\u201d) and in accordance with IFRS as adopted by the European Union, under the historical cost convention,
\nas modified by the revaluation of certain financial assets and liabilities (including derivative instruments) and plan
\nassets at fair value. The Consolidated Financial Statements are, unless otherwise noted, presented in thousands of
\nU.S. dollars (\u201c$\u201d).
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nWhenever necessary, certain comparative amounts have been reclassified to conform to changes in presentation in
\nthe current year.
\n
\n\nThe preparation of Consolidated Financial Statements in conformity with IFRS requires management to make certain
\naccounting estimates and assumptions that might affect among others, the reported amounts of assets, liabilities,
\ncontingent liabilities, revenues and expenses. Actual results may differ from these estimates. The main areas
\ninvolving material estimates or judgements are: impairment of goodwill and long-lived assets (notes II.H),
\nimpairment in investments in associates (note II.B); income taxes including recoverability of deferred tax assets (note
\nII.O); obsolescence of inventory (note II.J); contingencies (note II.Q); allowance for trade receivables (note II.K); post-
\nemployment and other long-term benefits (note II.P); business combinations (notes II.B); useful lives of property,
\nplant and equipment and other long-lived assets (notes II.E, II.F, II.H) and property title ownership restriction (note
\nIV.28). During the year there were no significant changes in the material accounting estimates and judgements.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n(1)
\n
\nAccounting pronouncements applicable as from January 1, 2023
\n
\nAmendments to IAS 12 - International Tax Reform - Pillar Two Model Rules
\n
\nIn December 2021, the Organization for Economic Co-operation and Development (\u201cOECD\u201d) released the Pillar
\nTwo model rules (the Global Anti-Base Erosion rules, or \u201cGloBE\u201d) to reform international corporate taxation.
\nFollowing Pillar Two OECD\u2019s initiative, the European Union adopted in December 2022 a directive to impose a global
\nminimum taxation for multinational companies in the Union, to be effective as from 2024.
\n
\nIn May 2023, the IASB made narrow-scope amendments to IAS 12 setting an exception that provides relief from
\nthe requirement to recognize and disclose deferred taxes arising from enacted or substantively enacted tax laws
\nthat implement the Pillar Two model rules, including tax laws that implement qualified domestic minimum top-up
\ntaxes as per described in those rules.
\n
\nOn December 20, 2023, the Luxembourg Parliament approved the Pillar Two law transposing the EU Pillar Two
\nDirective into domestic legislation. The law enters into force as from fiscal years starting on or after 31 December
\n2023.
\n
\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\nThe Company is within the scope of the rules, and therefore will be required to calculate its GloBE effective tax rate
\nfor each jurisdiction where it operates and will be liable to pay a top-up tax for the difference between its GloBE
\neffective tax rate per jurisdiction and the 15% minimum rate, as from 2024. For more information see note 9.
\n
\nOther accounting pronouncements that became effective during 2023 have no material effect on the Company\u2019s
\nfinancial condition or results of operations.
\n
\n(2)
\n
\nNew accounting pronouncements not applicable as of December 31, 2023
\n
\nCertain newly published accounting standards, amendments to accounting standards and interpretations are not
\nmandatory for December 31, 2023 reporting periods and have not been early adopted by the Company. These
\nstandards, amendments or interpretations are not expected to have a material impact in the current or future
\nreporting periods and on foreseeable future transactions.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag843": {
"value": "The Consolidated Financial Statements of Tenaris have been prepared in accordance with International Financial Reporting Standards (\u201cIFRS\" or \"IFRS Accounting Standards\u201d), as issued by the International Accounting Standards Board (\u201cIASB\u201d) and in accordance with IFRS as adopted by the European Union, under the historical cost convention, as modified by the revaluation of certain financial assets and liabilities (including derivative instruments) and plan assets at fair value.",
"dimensions": {
"concept": "ifrs-full:StatementOfIFRSCompliance",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag855": {
"value": "\nThe preparation of Consolidated Financial Statements in conformity with IFRS requires management to make certain
\naccounting estimates and assumptions that might affect among others, the reported amounts of assets, liabilities,
\ncontingent liabilities, revenues and expenses. Actual results may differ from these estimates. The main areas
\ninvolving material estimates or judgements are: impairment of goodwill and long-lived assets (notes II.H),
\nimpairment in investments in associates (note II.B); income taxes including recoverability of deferred tax assets (note
\nII.O); obsolescence of inventory (note II.J); contingencies (note II.Q); allowance for trade receivables (note II.K); post-
\nemployment and other long-term benefits (note II.P); business combinations (notes II.B); useful lives of property,
\nplant and equipment and other long-lived assets (notes II.E, II.F, II.H) and property title ownership restriction (note
\nIV.28). During the year there were no significant changes in the material accounting estimates and judgements.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag904": {
"value": "\n(1)
\n
\nAccounting pronouncements applicable as from January 1, 2023
\n
\nAmendments to IAS 12 - International Tax Reform - Pillar Two Model Rules
\n
\nIn December 2021, the Organization for Economic Co-operation and Development (\u201cOECD\u201d) released the Pillar
\nTwo model rules (the Global Anti-Base Erosion rules, or \u201cGloBE\u201d) to reform international corporate taxation.
\nFollowing Pillar Two OECD\u2019s initiative, the European Union adopted in December 2022 a directive to impose a global
\nminimum taxation for multinational companies in the Union, to be effective as from 2024.
\n
\nIn May 2023, the IASB made narrow-scope amendments to IAS 12 setting an exception that provides relief from
\nthe requirement to recognize and disclose deferred taxes arising from enacted or substantively enacted tax laws
\nthat implement the Pillar Two model rules, including tax laws that implement qualified domestic minimum top-up
\ntaxes as per described in those rules.
\n
\nOn December 20, 2023, the Luxembourg Parliament approved the Pillar Two law transposing the EU Pillar Two
\nDirective into domestic legislation. The law enters into force as from fiscal years starting on or after 31 December
\n2023.
\n
\n\n\n\nThe Company is within the scope of the rules, and therefore will be required to calculate its GloBE effective tax rate
\nfor each jurisdiction where it operates and will be liable to pay a top-up tax for the difference between its GloBE
\neffective tax rate per jurisdiction and the 15% minimum rate, as from 2024. For more information see note 9.
\n
\nOther accounting pronouncements that became effective during 2023 have no material effect on the Company\u2019s
\nfinancial condition or results of operations.
\n
\n(2)
\n
\nNew accounting pronouncements not applicable as of December 31, 2023
\n
\nCertain newly published accounting standards, amendments to accounting standards and interpretations are not
\nmandatory for December 31, 2023 reporting periods and have not been early adopted by the Company. These
\nstandards, amendments or interpretations are not expected to have a material impact in the current or future
\nreporting periods and on foreseeable future transactions.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag862": {
"value": "Luxembourg",
"dimensions": {
"concept": "ifrs-full:CountryOfIncorporation",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag857": {
"value": "\n
\nB Group accounting
\n
\n
\n
\n
\n
\n(1) Subsidiaries and transactions with non-controlling interests
\n
\n\nSubsidiaries are all entities over which Tenaris has control. Tenaris controls an entity when it is exposed to, or has
\nrights to, variable returns from its involvement with the entity and has the ability to affect those returns through its
\npower over the entity. In some cases, the Company considers that it has the ability to affect returns through its
\npower over an entity even if it holds less than 50% of the shares or voting rights of the subsidiary because it is able
\nto prevail at all of the subsidiary\u2019s general meetings, which in turn allows Tenaris to nominate and appoint a majority
\nof the subsidiary\u2019s board of directors. Subsidiaries are fully consolidated from the date on which control is exercised
\nby the Company and are no longer consolidated from the date control ceases.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\nThe acquisition method is used to account for the acquisition of subsidiaries by Tenaris. The cost of an acquisition
\nis measured as the fair value of the assets transferred, equity instruments issued and liabilities incurred or assumed
\nat the date of exchange. Acquisition-related costs are expensed as incurred. Identifiable assets acquired, liabilities
\nand contingent liabilities assumed in a business combination are generally measured initially at their fair values at
\nthe acquisition date. Any non-controlling interest in the acquiree is measured either at fair value or at the non-
\ncontrolling interest\u2019s proportionate share of the acquiree\u2019s net identifiable assets. The excess of the aggregate of
\nthe consideration transferred and the amount of any non-controlling interest in the acquiree over the fair value of
\nthe identifiable net assets acquired is recorded as goodwill. If this is less than the fair value of the net assets of the
\nsubsidiary acquired, the difference is recognized directly in the Consolidated Income Statement.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nContingent consideration is classified either as equity or as a financial liability. Amounts classified as a financial
\nliability are subsequently remeasured to fair value with changes in fair value recognized in profit or loss.
\n
\n\nIf the business combination is achieved in stages, the acquisition date carrying value of the acquirer\u2019s previously
\nheld equity interest in the acquiree is remeasured to fair value at the acquisition date. Any gains or losses arising
\nfrom such remeasurement are recognized in profit or loss.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\nTransactions with non-controlling interests that do not result in a loss of control are accounted as transactions with
\nequity owners of the Company. For purchases from non-controlling interests, the difference between any
\nconsideration paid and the relevant share acquired of the carrying value of net assets of the subsidiary is recorded
\nin equity. Gains or losses on disposals to non-controlling interests are also recorded in equity.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\nWhen the Company ceases to have control or significant influence, any retained interest in the entity is remeasured
\nto its fair value, with the change in carrying amount recognized in profit or loss. The fair value is the initial carrying
\namount for the purposes of subsequently accounting for the retained interest as an associate, joint venture or
\nfinancial asset. In addition, any amounts previously recognized in other comprehensive income in respect of that
\nentity are accounted for as if the group had directly disposed of the related assets or liabilities. This may mean that
\namounts previously recognized in other comprehensive income are reclassified to profit or loss.
\n
\nMaterial intercompany transactions, balances and unrealized gains (losses) on transactions between Tenaris
\nsubsidiaries have been eliminated in consolidation. However, since the functional currency of some subsidiaries is
\nits respective local currency, some financial gains (losses) arising from intercompany transactions are generated.
\nThese are included in the Consolidated Income Statement under
\nOther financial results
\n.
\n
\n\n
\n\n
\n\n(2) Non-consolidated companies
\n
\n
\nNon-consolidated companies are all entities in which Tenaris has significant influence but not control, generally
\naccompanying a shareholding of between 20% and 50% of the voting rights. Investments in non-consolidated
\ncompanies (associates and joint ventures) are accounted for by the equity method and are initially recognized at
\ncost (as defined by IAS 28, \u201cInvestments in Associates and Joint Ventures\u201d). The Company\u2019s investment in non-
\nconsolidated companies includes goodwill identified in acquisition, net of any accumulated impairment loss.
\n
\nUnder the equity method, the investments are initially recognized at cost and adjusted thereafter to recognize
\nTenaris\u2019s share of the post-acquisition profits or losses of the investee in profit or loss, and Tenaris\u2019s share of
\nmovements in other comprehensive income of the investee in other comprehensive income. Dividends received or
\nreceivable from associates and joint ventures are recognized as a reduction in the carrying amount of the investment.
\n
\nIf material, unrealized results on transactions between Tenaris and its non-consolidated companies are eliminated
\nto the extent of Tenaris\u2019s interest in the non-consolidated companies. Unrealized losses are also eliminated unless
\nthe transaction provides evidence of an impairment indicator of the asset transferred. Financial statements of non-
\nconsolidated companies are adjusted where necessary to ensure consistency with IFRS.
\n
\nThe Company\u2019s pro-rata share of earnings in non-consolidated companies is recorded in the Consolidated Income
\nStatement under
\nEquity in earnings
\n
\nof non-consolidated companies
\n. The Company\u2019s pro-rata share of changes in
\nother comprehensive income is recognized in the Consolidated Statement of Comprehensive Income.
\n
\na)
\n
\nTernium
\n
\nAt December 31, 2023, Tenaris held 11.46% in the share capital of Ternium S.A. (\u201cTernium\u201d). The following factors
\nand circumstances evidence that Tenaris has significant influence over Ternium:
\n
\n\u25aa both the Company and Ternium are under the indirect common control of San Faustin S.A. (\u201cSan Faustin\u201d);
\n\u25aa four out of eight members of Ternium\u2019s board of directors (including Ternium\u2019s chairman) are also members
\nof the Company\u2019s board of directors;
\n\u25aa under the shareholders\u2019 agreement by and between the Company and Techint Holdings S.\u00e0r.l (\"Techint\"),
\na wholly owned subsidiary of San Faustin and Ternium\u2019s main shareholder, dated January 9, 2006 Techint,
\nis required to take actions within its power to cause (a) one of the members of Ternium\u2019s board of directors
\nto be nominated by the Company and (b) any director nominated by the Company to be removed from
\nTernium\u2019s board of directors only pursuant to previous written instructions of the Company.
\n
\nb)
\n
\nUsiminas
\n
\nAt December 31, 2023, Tenaris held, through its Brazilian subsidiary Confab Industrial S.A. (\u201cConfab\u201d), 47.5 million
\nordinary shares and 1.3 million preferred shares of Usinas Sider\u00fargicas de Minas Gerais S.A. - Usiminas (\u201cUsiminas\u201d),
\nrepresenting 6.76% of its shares with voting rights and 3.96% of its total share capital.
\n
\nConfab\u2019s participation in Usiminas share capital is the result of a series of acquisitions, the first of which was
\nperformed on January 16, 2012, pursuant to which Ternium (through certain of its subsidiaries) and Confab
\nacquired a large block of Usiminas ordinary shares and joined Usiminas\u2019 existing control group. Subsequently, in
\n2016, Ternium and Confab subscribed to additional ordinary shares and to preferred shares.
\n
\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n
\n\n
\n\nMore recently, on March 30, 2023, Confab, together with Ternium (through its subsidiaries Ternium Investments
\nand Ternium Argentina), agreed to acquire an additional 68.7 million ordinary shares of Usiminas at a price of BRL10
\nper ordinary share. The transaction closed on July 3, 2023 and was financed with cash on hand. Tenaris paid
\napproximately BRL110 million (approximately $22.7 million) in cash for approximately 11 million ordinary shares,
\nincreasing its participation in the Usiminas control group to 9.8%.
\n
\nThe Usiminas control group comprises the T/T Group, formed by Ternium Investments, Ternium Argentina and
\nConfab; the NSC Group, comprising Nippon Steel Corporation, Mitsubishi and MetalOne; and Usiminas\u2019 employee
\npension fund, Previd\u00eancia Usiminas. At December 31, 2023, the Usiminas control group held, in the aggregate,
\n483.6 million ordinary shares, representing approximately 68.6% of Usiminas\u2019 voting capital and the T/T Group held
\nan aggregate participation of 61.3% in the control group (with 51.5% of the control group\u2019s participation
\ncorresponding to Ternium\u2019s subsidiaries, and remaining 9.8% corresponding to Confab); the NSC Group and
\nPrevid\u00eancia Usiminas held 31.7% and 7%, respectively, in the control group.
\n
\nUpon closing of the July 3, 2023 acquisition, the then existing Usiminas shareholders agreement governing the
\nrelationship between the T/T Group, the NSC Group and Previd\u00eancia Usiminas was replaced by a new shareholders
\nagreement setting forth a new governance structure for Usiminas. The T/T Group is now entitled to nominate a
\nmajority of the Usiminas board of directors, the chief executive officer and four other members of the Usiminas
\nboard of officers. Of the positions allocated to the T/T Group, Tenaris retains the right to nominate one member of
\nthe Usiminas board of directors and one member of the Usiminas board of officers. Ordinary decisions may be
\napproved with a 55% majority of Usiminas\u2019 control group shares.
\n
\nAt any time after the second anniversary of the closing of the transaction, the T/T Group will have the right to buy
\nthe NSC Group\u2019s remaining interest in the Usiminas control group (153.1 million ordinary shares) at the higher of
\nBRL10 per share and the 40-trading day average price per share immediately prior to the date of exercising the
\noption. In addition, the NSC Group will have the right, at any time after the closing of the transaction, to withdraw
\nits remaining shares from the control group and sell them in the open market after giving the T/T Group the
\nopportunity to buy them at the 40-trading day average price per share, as well as the right, at any time after the
\nsecond anniversary of the closing, to sell such shares to the T/T Group at BRL10 per share. Confab will have the
\nright but not the obligation to participate in each such transaction pro rata to its current participation in the T/T
\nGroup.
\n
\nConfab and the Ternium entities party to the Usiminas shareholders agreement have a separate shareholders
\nagreement governing their respective rights and obligations as members of the T/T Group. Under such separate
\nagreement, Confab enjoys certain rights with respect to the governance of Usiminas, including, among others, the
\nability to nominate certain Usiminas\u2019 officers and directors. Those circumstances evidence that Tenaris continues
\nhaving significant influence over Usiminas and, as a result, continues accounting for its investment under the equity
\nmethod.
\n
\nc)
\n
\nTechgen
\n
\nTechgen S.A. de C.V. (\u201cTechgen\u201d), which operates an electric power plant in Mexico, is a joint venture company
\nowned 48% by Ternium, 30% by Tecpetrol International S.A. (\u201cTecpetrol\u201d) and 22% by Tenaris. The Company,
\nTernium and Tecpetrol are parties to a shareholders\u2019 agreement relating to the governance of Techgen and are
\nunder the indirect common control of San Faustin. Based on the facts stated above, the Company has determined
\nthat it has significant influence over this entity.
\n
\nd)
\n
\nGlobal Pipe Company
\n
\nGlobal Pipe Company (\u201cGPC\u201d) is a joint venture, established in 2010 and located in Jubail, Saudi Arabia, which
\nmanufactures LSAW pipes. Until May 16, 2023, Tenaris, through its subsidiary Saudi Steel Pipe Company (\"SSPC\")
\nowned 35% of the share capital of GPC and, accordingly was a non-consolidated company.
\n
\nOn May 17, 2023, SSPC acquired an additional 22.3% interest in GPC reaching a participation of 57.3%. The
\nCompany consolidates GPC\u2019s balances and results of operations as from May 17, 2023.
\n
\nFor more information on GPC's acquisition and its accounting treatment see note 34 \u201cBusiness Combinations -
\nGlobal Pipe Company acquisition
\n\u201d.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n\n
\n\nTenaris carries its investments in non-consolidated companies under the equity method, with no additional goodwill
\nor intangible assets recognized. Tenaris reviews investments in non-consolidated companies for impairment
\nwhenever events or changes in circumstances indicate that the asset\u2019s carrying amount may not be recoverable. For
\nmore information see note 14 to these Consolidated Financial Statements.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag881": {
"value": "\nSubsidiaries are all entities over which Tenaris has control. Tenaris controls an entity when it is exposed to, or has
\nrights to, variable returns from its involvement with the entity and has the ability to affect those returns through its
\npower over the entity. In some cases, the Company considers that it has the ability to affect returns through its
\npower over an entity even if it holds less than 50% of the shares or voting rights of the subsidiary because it is able
\nto prevail at all of the subsidiary\u2019s general meetings, which in turn allows Tenaris to nominate and appoint a majority
\nof the subsidiary\u2019s board of directors. Subsidiaries are fully consolidated from the date on which control is exercised
\nby the Company and are no longer consolidated from the date control ceases.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag860": {
"value": "\nThe acquisition method is used to account for the acquisition of subsidiaries by Tenaris. The cost of an acquisition
\nis measured as the fair value of the assets transferred, equity instruments issued and liabilities incurred or assumed
\nat the date of exchange. Acquisition-related costs are expensed as incurred. Identifiable assets acquired, liabilities
\nand contingent liabilities assumed in a business combination are generally measured initially at their fair values at
\nthe acquisition date. Any non-controlling interest in the acquiree is measured either at fair value or at the non-
\ncontrolling interest\u2019s proportionate share of the acquiree\u2019s net identifiable assets. The excess of the aggregate of
\nthe consideration transferred and the amount of any non-controlling interest in the acquiree over the fair value of
\nthe identifiable net assets acquired is recorded as goodwill. If this is less than the fair value of the net assets of the
\nsubsidiary acquired, the difference is recognized directly in the Consolidated Income Statement.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nIf the business combination is achieved in stages, the acquisition date carrying value of the acquirer\u2019s previously
\nheld equity interest in the acquiree is remeasured to fair value at the acquisition date. Any gains or losses arising
\nfrom such remeasurement are recognized in profit or loss.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag873": {
"value": "\nTransactions with non-controlling interests that do not result in a loss of control are accounted as transactions with
\nequity owners of the Company. For purchases from non-controlling interests, the difference between any
\nconsideration paid and the relevant share acquired of the carrying value of net assets of the subsidiary is recorded
\nin equity. Gains or losses on disposals to non-controlling interests are also recorded in equity.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag906": {
"value": "\n
\n\n
\n\n(2) Non-consolidated companies
\n
\n
\nNon-consolidated companies are all entities in which Tenaris has significant influence but not control, generally
\naccompanying a shareholding of between 20% and 50% of the voting rights. Investments in non-consolidated
\ncompanies (associates and joint ventures) are accounted for by the equity method and are initially recognized at
\ncost (as defined by IAS 28, \u201cInvestments in Associates and Joint Ventures\u201d). The Company\u2019s investment in non-
\nconsolidated companies includes goodwill identified in acquisition, net of any accumulated impairment loss.
\n
\nUnder the equity method, the investments are initially recognized at cost and adjusted thereafter to recognize
\nTenaris\u2019s share of the post-acquisition profits or losses of the investee in profit or loss, and Tenaris\u2019s share of
\nmovements in other comprehensive income of the investee in other comprehensive income. Dividends received or
\nreceivable from associates and joint ventures are recognized as a reduction in the carrying amount of the investment.
\n
\nIf material, unrealized results on transactions between Tenaris and its non-consolidated companies are eliminated
\nto the extent of Tenaris\u2019s interest in the non-consolidated companies. Unrealized losses are also eliminated unless
\nthe transaction provides evidence of an impairment indicator of the asset transferred. Financial statements of non-
\nconsolidated companies are adjusted where necessary to ensure consistency with IFRS.
\n
\nThe Company\u2019s pro-rata share of earnings in non-consolidated companies is recorded in the Consolidated Income
\nStatement under
\nEquity in earnings
\n
\nof non-consolidated companies
\n. The Company\u2019s pro-rata share of changes in
\nother comprehensive income is recognized in the Consolidated Statement of Comprehensive Income.
\n
\na)
\n
\nTernium
\n
\nAt December 31, 2023, Tenaris held 11.46% in the share capital of Ternium S.A. (\u201cTernium\u201d). The following factors
\nand circumstances evidence that Tenaris has significant influence over Ternium:
\n
\n\u25aa both the Company and Ternium are under the indirect common control of San Faustin S.A. (\u201cSan Faustin\u201d);
\n\u25aa four out of eight members of Ternium\u2019s board of directors (including Ternium\u2019s chairman) are also members
\nof the Company\u2019s board of directors;
\n\u25aa under the shareholders\u2019 agreement by and between the Company and Techint Holdings S.\u00e0r.l (\"Techint\"),
\na wholly owned subsidiary of San Faustin and Ternium\u2019s main shareholder, dated January 9, 2006 Techint,
\nis required to take actions within its power to cause (a) one of the members of Ternium\u2019s board of directors
\nto be nominated by the Company and (b) any director nominated by the Company to be removed from
\nTernium\u2019s board of directors only pursuant to previous written instructions of the Company.
\n
\nb)
\n
\nUsiminas
\n
\nAt December 31, 2023, Tenaris held, through its Brazilian subsidiary Confab Industrial S.A. (\u201cConfab\u201d), 47.5 million
\nordinary shares and 1.3 million preferred shares of Usinas Sider\u00fargicas de Minas Gerais S.A. - Usiminas (\u201cUsiminas\u201d),
\nrepresenting 6.76% of its shares with voting rights and 3.96% of its total share capital.
\n
\nConfab\u2019s participation in Usiminas share capital is the result of a series of acquisitions, the first of which was
\nperformed on January 16, 2012, pursuant to which Ternium (through certain of its subsidiaries) and Confab
\nacquired a large block of Usiminas ordinary shares and joined Usiminas\u2019 existing control group. Subsequently, in
\n2016, Ternium and Confab subscribed to additional ordinary shares and to preferred shares.
\n
\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n
\n\nMore recently, on March 30, 2023, Confab, together with Ternium (through its subsidiaries Ternium Investments
\nand Ternium Argentina), agreed to acquire an additional 68.7 million ordinary shares of Usiminas at a price of BRL10
\nper ordinary share. The transaction closed on July 3, 2023 and was financed with cash on hand. Tenaris paid
\napproximately BRL110 million (approximately $22.7 million) in cash for approximately 11 million ordinary shares,
\nincreasing its participation in the Usiminas control group to 9.8%.
\n
\nThe Usiminas control group comprises the T/T Group, formed by Ternium Investments, Ternium Argentina and
\nConfab; the NSC Group, comprising Nippon Steel Corporation, Mitsubishi and MetalOne; and Usiminas\u2019 employee
\npension fund, Previd\u00eancia Usiminas. At December 31, 2023, the Usiminas control group held, in the aggregate,
\n483.6 million ordinary shares, representing approximately 68.6% of Usiminas\u2019 voting capital and the T/T Group held
\nan aggregate participation of 61.3% in the control group (with 51.5% of the control group\u2019s participation
\ncorresponding to Ternium\u2019s subsidiaries, and remaining 9.8% corresponding to Confab); the NSC Group and
\nPrevid\u00eancia Usiminas held 31.7% and 7%, respectively, in the control group.
\n
\nUpon closing of the July 3, 2023 acquisition, the then existing Usiminas shareholders agreement governing the
\nrelationship between the T/T Group, the NSC Group and Previd\u00eancia Usiminas was replaced by a new shareholders
\nagreement setting forth a new governance structure for Usiminas. The T/T Group is now entitled to nominate a
\nmajority of the Usiminas board of directors, the chief executive officer and four other members of the Usiminas
\nboard of officers. Of the positions allocated to the T/T Group, Tenaris retains the right to nominate one member of
\nthe Usiminas board of directors and one member of the Usiminas board of officers. Ordinary decisions may be
\napproved with a 55% majority of Usiminas\u2019 control group shares.
\n
\nAt any time after the second anniversary of the closing of the transaction, the T/T Group will have the right to buy
\nthe NSC Group\u2019s remaining interest in the Usiminas control group (153.1 million ordinary shares) at the higher of
\nBRL10 per share and the 40-trading day average price per share immediately prior to the date of exercising the
\noption. In addition, the NSC Group will have the right, at any time after the closing of the transaction, to withdraw
\nits remaining shares from the control group and sell them in the open market after giving the T/T Group the
\nopportunity to buy them at the 40-trading day average price per share, as well as the right, at any time after the
\nsecond anniversary of the closing, to sell such shares to the T/T Group at BRL10 per share. Confab will have the
\nright but not the obligation to participate in each such transaction pro rata to its current participation in the T/T
\nGroup.
\n
\nConfab and the Ternium entities party to the Usiminas shareholders agreement have a separate shareholders
\nagreement governing their respective rights and obligations as members of the T/T Group. Under such separate
\nagreement, Confab enjoys certain rights with respect to the governance of Usiminas, including, among others, the
\nability to nominate certain Usiminas\u2019 officers and directors. Those circumstances evidence that Tenaris continues
\nhaving significant influence over Usiminas and, as a result, continues accounting for its investment under the equity
\nmethod.
\n
\nc)
\n
\nTechgen
\n
\nTechgen S.A. de C.V. (\u201cTechgen\u201d), which operates an electric power plant in Mexico, is a joint venture company
\nowned 48% by Ternium, 30% by Tecpetrol International S.A. (\u201cTecpetrol\u201d) and 22% by Tenaris. The Company,
\nTernium and Tecpetrol are parties to a shareholders\u2019 agreement relating to the governance of Techgen and are
\nunder the indirect common control of San Faustin. Based on the facts stated above, the Company has determined
\nthat it has significant influence over this entity.
\n
\nd)
\n
\nGlobal Pipe Company
\n
\nGlobal Pipe Company (\u201cGPC\u201d) is a joint venture, established in 2010 and located in Jubail, Saudi Arabia, which
\nmanufactures LSAW pipes. Until May 16, 2023, Tenaris, through its subsidiary Saudi Steel Pipe Company (\"SSPC\")
\nowned 35% of the share capital of GPC and, accordingly was a non-consolidated company.
\n
\nOn May 17, 2023, SSPC acquired an additional 22.3% interest in GPC reaching a participation of 57.3%. The
\nCompany consolidates GPC\u2019s balances and results of operations as from May 17, 2023.
\n
\nFor more information on GPC's acquisition and its accounting treatment see note 34 \u201cBusiness Combinations -
\nGlobal Pipe Company acquisition
\n\u201d.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n\nTenaris carries its investments in non-consolidated companies under the equity method, with no additional goodwill
\nor intangible assets recognized. Tenaris reviews investments in non-consolidated companies for impairment
\nwhenever events or changes in circumstances indicate that the asset\u2019s carrying amount may not be recoverable. For
\nmore information see note 14 to these Consolidated Financial Statements.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag907": {
"value": "\n
\n\n(2) Non-consolidated companies
\n
\n
\nNon-consolidated companies are all entities in which Tenaris has significant influence but not control, generally
\naccompanying a shareholding of between 20% and 50% of the voting rights. Investments in non-consolidated
\ncompanies (associates and joint ventures) are accounted for by the equity method and are initially recognized at
\ncost (as defined by IAS 28, \u201cInvestments in Associates and Joint Ventures\u201d). The Company\u2019s investment in non-
\nconsolidated companies includes goodwill identified in acquisition, net of any accumulated impairment loss.
\n
\nUnder the equity method, the investments are initially recognized at cost and adjusted thereafter to recognize
\nTenaris\u2019s share of the post-acquisition profits or losses of the investee in profit or loss, and Tenaris\u2019s share of
\nmovements in other comprehensive income of the investee in other comprehensive income. Dividends received or
\nreceivable from associates and joint ventures are recognized as a reduction in the carrying amount of the investment.
\n
\nIf material, unrealized results on transactions between Tenaris and its non-consolidated companies are eliminated
\nto the extent of Tenaris\u2019s interest in the non-consolidated companies. Unrealized losses are also eliminated unless
\nthe transaction provides evidence of an impairment indicator of the asset transferred. Financial statements of non-
\nconsolidated companies are adjusted where necessary to ensure consistency with IFRS.
\n
\nThe Company\u2019s pro-rata share of earnings in non-consolidated companies is recorded in the Consolidated Income
\nStatement under
\nEquity in earnings
\n
\nof non-consolidated companies
\n. The Company\u2019s pro-rata share of changes in
\nother comprehensive income is recognized in the Consolidated Statement of Comprehensive Income.
\n
\na)
\n
\nTernium
\n
\nAt December 31, 2023, Tenaris held 11.46% in the share capital of Ternium S.A. (\u201cTernium\u201d). The following factors
\nand circumstances evidence that Tenaris has significant influence over Ternium:
\n
\n\u25aa both the Company and Ternium are under the indirect common control of San Faustin S.A. (\u201cSan Faustin\u201d);
\n\u25aa four out of eight members of Ternium\u2019s board of directors (including Ternium\u2019s chairman) are also members
\nof the Company\u2019s board of directors;
\n\u25aa under the shareholders\u2019 agreement by and between the Company and Techint Holdings S.\u00e0r.l (\"Techint\"),
\na wholly owned subsidiary of San Faustin and Ternium\u2019s main shareholder, dated January 9, 2006 Techint,
\nis required to take actions within its power to cause (a) one of the members of Ternium\u2019s board of directors
\nto be nominated by the Company and (b) any director nominated by the Company to be removed from
\nTernium\u2019s board of directors only pursuant to previous written instructions of the Company.
\n
\nb)
\n
\nUsiminas
\n
\nAt December 31, 2023, Tenaris held, through its Brazilian subsidiary Confab Industrial S.A. (\u201cConfab\u201d), 47.5 million
\nordinary shares and 1.3 million preferred shares of Usinas Sider\u00fargicas de Minas Gerais S.A. - Usiminas (\u201cUsiminas\u201d),
\nrepresenting 6.76% of its shares with voting rights and 3.96% of its total share capital.
\n
\nConfab\u2019s participation in Usiminas share capital is the result of a series of acquisitions, the first of which was
\nperformed on January 16, 2012, pursuant to which Ternium (through certain of its subsidiaries) and Confab
\nacquired a large block of Usiminas ordinary shares and joined Usiminas\u2019 existing control group. Subsequently, in
\n2016, Ternium and Confab subscribed to additional ordinary shares and to preferred shares.
\n
\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\nMore recently, on March 30, 2023, Confab, together with Ternium (through its subsidiaries Ternium Investments
\nand Ternium Argentina), agreed to acquire an additional 68.7 million ordinary shares of Usiminas at a price of BRL10
\nper ordinary share. The transaction closed on July 3, 2023 and was financed with cash on hand. Tenaris paid
\napproximately BRL110 million (approximately $22.7 million) in cash for approximately 11 million ordinary shares,
\nincreasing its participation in the Usiminas control group to 9.8%.
\n
\nThe Usiminas control group comprises the T/T Group, formed by Ternium Investments, Ternium Argentina and
\nConfab; the NSC Group, comprising Nippon Steel Corporation, Mitsubishi and MetalOne; and Usiminas\u2019 employee
\npension fund, Previd\u00eancia Usiminas. At December 31, 2023, the Usiminas control group held, in the aggregate,
\n483.6 million ordinary shares, representing approximately 68.6% of Usiminas\u2019 voting capital and the T/T Group held
\nan aggregate participation of 61.3% in the control group (with 51.5% of the control group\u2019s participation
\ncorresponding to Ternium\u2019s subsidiaries, and remaining 9.8% corresponding to Confab); the NSC Group and
\nPrevid\u00eancia Usiminas held 31.7% and 7%, respectively, in the control group.
\n
\nUpon closing of the July 3, 2023 acquisition, the then existing Usiminas shareholders agreement governing the
\nrelationship between the T/T Group, the NSC Group and Previd\u00eancia Usiminas was replaced by a new shareholders
\nagreement setting forth a new governance structure for Usiminas. The T/T Group is now entitled to nominate a
\nmajority of the Usiminas board of directors, the chief executive officer and four other members of the Usiminas
\nboard of officers. Of the positions allocated to the T/T Group, Tenaris retains the right to nominate one member of
\nthe Usiminas board of directors and one member of the Usiminas board of officers. Ordinary decisions may be
\napproved with a 55% majority of Usiminas\u2019 control group shares.
\n
\nAt any time after the second anniversary of the closing of the transaction, the T/T Group will have the right to buy
\nthe NSC Group\u2019s remaining interest in the Usiminas control group (153.1 million ordinary shares) at the higher of
\nBRL10 per share and the 40-trading day average price per share immediately prior to the date of exercising the
\noption. In addition, the NSC Group will have the right, at any time after the closing of the transaction, to withdraw
\nits remaining shares from the control group and sell them in the open market after giving the T/T Group the
\nopportunity to buy them at the 40-trading day average price per share, as well as the right, at any time after the
\nsecond anniversary of the closing, to sell such shares to the T/T Group at BRL10 per share. Confab will have the
\nright but not the obligation to participate in each such transaction pro rata to its current participation in the T/T
\nGroup.
\n
\nConfab and the Ternium entities party to the Usiminas shareholders agreement have a separate shareholders
\nagreement governing their respective rights and obligations as members of the T/T Group. Under such separate
\nagreement, Confab enjoys certain rights with respect to the governance of Usiminas, including, among others, the
\nability to nominate certain Usiminas\u2019 officers and directors. Those circumstances evidence that Tenaris continues
\nhaving significant influence over Usiminas and, as a result, continues accounting for its investment under the equity
\nmethod.
\n
\nc)
\n
\nTechgen
\n
\nTechgen S.A. de C.V. (\u201cTechgen\u201d), which operates an electric power plant in Mexico, is a joint venture company
\nowned 48% by Ternium, 30% by Tecpetrol International S.A. (\u201cTecpetrol\u201d) and 22% by Tenaris. The Company,
\nTernium and Tecpetrol are parties to a shareholders\u2019 agreement relating to the governance of Techgen and are
\nunder the indirect common control of San Faustin. Based on the facts stated above, the Company has determined
\nthat it has significant influence over this entity.
\n
\nd)
\n
\nGlobal Pipe Company
\n
\nGlobal Pipe Company (\u201cGPC\u201d) is a joint venture, established in 2010 and located in Jubail, Saudi Arabia, which
\nmanufactures LSAW pipes. Until May 16, 2023, Tenaris, through its subsidiary Saudi Steel Pipe Company (\"SSPC\")
\nowned 35% of the share capital of GPC and, accordingly was a non-consolidated company.
\n
\nOn May 17, 2023, SSPC acquired an additional 22.3% interest in GPC reaching a participation of 57.3%. The
\nCompany consolidates GPC\u2019s balances and results of operations as from May 17, 2023.
\n
\nFor more information on GPC's acquisition and its accounting treatment see note 34 \u201cBusiness Combinations -
\nGlobal Pipe Company acquisition
\n\u201d.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\nTenaris carries its investments in non-consolidated companies under the equity method, with no additional goodwill
\nor intangible assets recognized. Tenaris reviews investments in non-consolidated companies for impairment
\nwhenever events or changes in circumstances indicate that the asset\u2019s carrying amount may not be recoverable. For
\nmore information see note 14 to these Consolidated Financial Statements.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociates",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag908": {
"value": "\n(2) Non-consolidated companies
\n
\n
\nNon-consolidated companies are all entities in which Tenaris has significant influence but not control, generally
\naccompanying a shareholding of between 20% and 50% of the voting rights. Investments in non-consolidated
\ncompanies (associates and joint ventures) are accounted for by the equity method and are initially recognized at
\ncost (as defined by IAS 28, \u201cInvestments in Associates and Joint Ventures\u201d). The Company\u2019s investment in non-
\nconsolidated companies includes goodwill identified in acquisition, net of any accumulated impairment loss.
\n
\nUnder the equity method, the investments are initially recognized at cost and adjusted thereafter to recognize
\nTenaris\u2019s share of the post-acquisition profits or losses of the investee in profit or loss, and Tenaris\u2019s share of
\nmovements in other comprehensive income of the investee in other comprehensive income. Dividends received or
\nreceivable from associates and joint ventures are recognized as a reduction in the carrying amount of the investment.
\n
\nIf material, unrealized results on transactions between Tenaris and its non-consolidated companies are eliminated
\nto the extent of Tenaris\u2019s interest in the non-consolidated companies. Unrealized losses are also eliminated unless
\nthe transaction provides evidence of an impairment indicator of the asset transferred. Financial statements of non-
\nconsolidated companies are adjusted where necessary to ensure consistency with IFRS.
\n
\nThe Company\u2019s pro-rata share of earnings in non-consolidated companies is recorded in the Consolidated Income
\nStatement under
\nEquity in earnings
\n
\nof non-consolidated companies
\n. The Company\u2019s pro-rata share of changes in
\nother comprehensive income is recognized in the Consolidated Statement of Comprehensive Income.
\n
\na)
\n
\nTernium
\n
\nAt December 31, 2023, Tenaris held 11.46% in the share capital of Ternium S.A. (\u201cTernium\u201d). The following factors
\nand circumstances evidence that Tenaris has significant influence over Ternium:
\n
\n\u25aa both the Company and Ternium are under the indirect common control of San Faustin S.A. (\u201cSan Faustin\u201d);
\n\u25aa four out of eight members of Ternium\u2019s board of directors (including Ternium\u2019s chairman) are also members
\nof the Company\u2019s board of directors;
\n\u25aa under the shareholders\u2019 agreement by and between the Company and Techint Holdings S.\u00e0r.l (\"Techint\"),
\na wholly owned subsidiary of San Faustin and Ternium\u2019s main shareholder, dated January 9, 2006 Techint,
\nis required to take actions within its power to cause (a) one of the members of Ternium\u2019s board of directors
\nto be nominated by the Company and (b) any director nominated by the Company to be removed from
\nTernium\u2019s board of directors only pursuant to previous written instructions of the Company.
\n
\nb)
\n
\nUsiminas
\n
\nAt December 31, 2023, Tenaris held, through its Brazilian subsidiary Confab Industrial S.A. (\u201cConfab\u201d), 47.5 million
\nordinary shares and 1.3 million preferred shares of Usinas Sider\u00fargicas de Minas Gerais S.A. - Usiminas (\u201cUsiminas\u201d),
\nrepresenting 6.76% of its shares with voting rights and 3.96% of its total share capital.
\n
\nConfab\u2019s participation in Usiminas share capital is the result of a series of acquisitions, the first of which was
\nperformed on January 16, 2012, pursuant to which Ternium (through certain of its subsidiaries) and Confab
\nacquired a large block of Usiminas ordinary shares and joined Usiminas\u2019 existing control group. Subsequently, in
\n2016, Ternium and Confab subscribed to additional ordinary shares and to preferred shares.
\n
\n\n\n\n\nMore recently, on March 30, 2023, Confab, together with Ternium (through its subsidiaries Ternium Investments
\nand Ternium Argentina), agreed to acquire an additional 68.7 million ordinary shares of Usiminas at a price of BRL10
\nper ordinary share. The transaction closed on July 3, 2023 and was financed with cash on hand. Tenaris paid
\napproximately BRL110 million (approximately $22.7 million) in cash for approximately 11 million ordinary shares,
\nincreasing its participation in the Usiminas control group to 9.8%.
\n
\nThe Usiminas control group comprises the T/T Group, formed by Ternium Investments, Ternium Argentina and
\nConfab; the NSC Group, comprising Nippon Steel Corporation, Mitsubishi and MetalOne; and Usiminas\u2019 employee
\npension fund, Previd\u00eancia Usiminas. At December 31, 2023, the Usiminas control group held, in the aggregate,
\n483.6 million ordinary shares, representing approximately 68.6% of Usiminas\u2019 voting capital and the T/T Group held
\nan aggregate participation of 61.3% in the control group (with 51.5% of the control group\u2019s participation
\ncorresponding to Ternium\u2019s subsidiaries, and remaining 9.8% corresponding to Confab); the NSC Group and
\nPrevid\u00eancia Usiminas held 31.7% and 7%, respectively, in the control group.
\n
\nUpon closing of the July 3, 2023 acquisition, the then existing Usiminas shareholders agreement governing the
\nrelationship between the T/T Group, the NSC Group and Previd\u00eancia Usiminas was replaced by a new shareholders
\nagreement setting forth a new governance structure for Usiminas. The T/T Group is now entitled to nominate a
\nmajority of the Usiminas board of directors, the chief executive officer and four other members of the Usiminas
\nboard of officers. Of the positions allocated to the T/T Group, Tenaris retains the right to nominate one member of
\nthe Usiminas board of directors and one member of the Usiminas board of officers. Ordinary decisions may be
\napproved with a 55% majority of Usiminas\u2019 control group shares.
\n
\nAt any time after the second anniversary of the closing of the transaction, the T/T Group will have the right to buy
\nthe NSC Group\u2019s remaining interest in the Usiminas control group (153.1 million ordinary shares) at the higher of
\nBRL10 per share and the 40-trading day average price per share immediately prior to the date of exercising the
\noption. In addition, the NSC Group will have the right, at any time after the closing of the transaction, to withdraw
\nits remaining shares from the control group and sell them in the open market after giving the T/T Group the
\nopportunity to buy them at the 40-trading day average price per share, as well as the right, at any time after the
\nsecond anniversary of the closing, to sell such shares to the T/T Group at BRL10 per share. Confab will have the
\nright but not the obligation to participate in each such transaction pro rata to its current participation in the T/T
\nGroup.
\n
\nConfab and the Ternium entities party to the Usiminas shareholders agreement have a separate shareholders
\nagreement governing their respective rights and obligations as members of the T/T Group. Under such separate
\nagreement, Confab enjoys certain rights with respect to the governance of Usiminas, including, among others, the
\nability to nominate certain Usiminas\u2019 officers and directors. Those circumstances evidence that Tenaris continues
\nhaving significant influence over Usiminas and, as a result, continues accounting for its investment under the equity
\nmethod.
\n
\nc)
\n
\nTechgen
\n
\nTechgen S.A. de C.V. (\u201cTechgen\u201d), which operates an electric power plant in Mexico, is a joint venture company
\nowned 48% by Ternium, 30% by Tecpetrol International S.A. (\u201cTecpetrol\u201d) and 22% by Tenaris. The Company,
\nTernium and Tecpetrol are parties to a shareholders\u2019 agreement relating to the governance of Techgen and are
\nunder the indirect common control of San Faustin. Based on the facts stated above, the Company has determined
\nthat it has significant influence over this entity.
\n
\nd)
\n
\nGlobal Pipe Company
\n
\nGlobal Pipe Company (\u201cGPC\u201d) is a joint venture, established in 2010 and located in Jubail, Saudi Arabia, which
\nmanufactures LSAW pipes. Until May 16, 2023, Tenaris, through its subsidiary Saudi Steel Pipe Company (\"SSPC\")
\nowned 35% of the share capital of GPC and, accordingly was a non-consolidated company.
\n
\nOn May 17, 2023, SSPC acquired an additional 22.3% interest in GPC reaching a participation of 57.3%. The
\nCompany consolidates GPC\u2019s balances and results of operations as from May 17, 2023.
\n
\nFor more information on GPC's acquisition and its accounting treatment see note 34 \u201cBusiness Combinations -
\nGlobal Pipe Company acquisition
\n\u201d.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nTenaris carries its investments in non-consolidated companies under the equity method, with no additional goodwill
\nor intangible assets recognized. Tenaris reviews investments in non-consolidated companies for impairment
\nwhenever events or changes in circumstances indicate that the asset\u2019s carrying amount may not be recoverable. For
\nmore information see note 14 to these Consolidated Financial Statements.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsInJointVentures",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag856": {
"value": "\nC Segment information
\n
\nThe Company is organized in one major business segment, Tubes, which is also the reportable operating segment.
\nAll other business activities and operating segments that are not required to be separately reported are disclosed in
\nthe Other segment.
\n
\nThe Tubes segment includes the production and sale of both seamless and welded steel tubular products and related
\nservices mainly for the oil and gas industry, particularly oil country tubular goods (\u201cOCTG\u201d) used in drilling
\noperations, and for other industrial applications with production processes that consist in the transformation of
\nsteel into tubular products. Business activities included in this segment are mainly dependent on the worldwide oil
\nand gas industry, as this industry is a major consumer of steel pipe products, particularly OCTG used in drilling
\nactivities. Demand for steel pipe products from the oil and gas industry has historically been volatile and depends
\nprimarily upon the number of oil and natural gas wells being drilled, completed and reworked, and the depth and
\ndrilling conditions of these wells. Sales are generally made to end users, with exports being done through a centrally
\nmanaged global distribution network and domestic sales are made through local subsidiaries.
\n
\nThe Other segment includes all business activities related to the production and selling of sucker rods, coiled tubing,
\ntubes used for plumbing and construction applications, oilfield / hydraulic fracturing services, the recently acquired
\ncoating business and others as energy and raw materials that exceed internal requirements.
\n
\nTenaris\u2019s Chief Operating Decision Maker (\u201cCODM\u201d) reviews operating and financial performance information with
\nsenior management on a monthly basis. This information differs from IFRS principally as follows:
\n
\n\u25aa the use of direct cost methodology to calculate the inventories, while under IFRS it is at full cost, including
\nabsorption of production overheads and depreciation;
\n\u25aa the use of costs based on previously internally defined cost estimates, while, under IFRS, costs are calculated
\nat historical cost, mainly on a FIFO basis;
\n\u25aa any currency translation adjustment reclassification, when applicable, for companies that under IFRS had a
\ndifferent functional currency than the U.S. dollar;
\nand
\n
\n\u25aa other timing differences, if any.
\n
\nTenaris presents its geographical information in four areas: North America, South America, Europe and Asia Pacific,
\nMiddle East and Africa. For purposes of reporting geographical information, net sales are allocated to geographical
\nareas based on the customer\u2019s location; allocation of assets, capital expenditures and associated depreciations and
\namortizations are based on the geographical location of the assets.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag863": {
"value": "\n(1)
\n
\nFunctional and presentation currency
\n
\nIAS 21 (revised), \u201cThe effects of changes in foreign exchange rates\u201d defines the functional currency as the currency
\nof the primary economic environment in which an entity operates.
\n
\nThe functional and presentation currency of the Company is the U.S. dollar. The U.S. dollar is the currency that best
\nreflects the economic substance of the underlying events and circumstances relevant to Tenaris\u2019s global operations.
\n
\nStarting January 1, 2023, the Company changed the functional currency of its Brazilian subsidiaries, from the
\nBrazilian Real to the U.S. dollar.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nThis decision was a result of a significant increase of its Brazilian Subsidiaries\u2019 participation in the OCTG and line
\npipe international markets, a trend which started in recent years and has been strengthened in 2022, an increased
\nlevel of integration of the local operations within Tenaris\u2019s international commercial and supply chain system, as
\nwell as the fact that the main purchase agreement contracts and the long term sales agreement contracts with
\nmajor international and local oil companies are either entered or indexed to the U.S. dollar. Local steel prices are
\nalso being affected by the U.S. dollar / Brazilian Real fluctuations.
\n
\nExcept for the Italian subsidiaries whose functional currency is the Euro and two recently acquired subsidiaries
\nwhose functional currencies are the Canadian Dollar and the Norwegian Krone, Tenaris determined that the
\nfunctional currency of its other subsidiaries is the U.S. dollar, based on the following principal considerations:
\n
\n\n
\n\n\n| \u25aa | \nsales are mainly negotiated, denominated and / or settled in U.S. dollars. If priced in a currency other than | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nthe U.S. dollar, the sales price may consider exposure to fluctuation in the exchange rate against the U.S. | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \ndollar; | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| \u25aa | \nprices of their critical raw materials and inputs are priced and / or settled in U.S. dollars; | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| \u25aa | \ntransaction and operational environment and the cash flow of these operations have the U.S. dollar as | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nreference currency; | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| \u25aa | \nthere is a significant level of integration of the local operations within Tenaris\u2019s international global | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \ndistribution network; | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| \u25aa | \nnet financial assets and liabilities are mainly received and maintained in U.S. dollars; and | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| \u25aa | \nthe exchange rate of certain legal currencies has long-been affected by recurring and severe economic | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \ncrises. | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag884": {
"value": "\n(2) Transactions in currencies other than the functional currency
\n
\nTransactions in currencies other than the functional currency are translated into the functional currency using the
\nexchange rates prevailing at the date of the transactions or valuation where items are re-measured.
\n
\nAt the end of each reporting period: (i) monetary items denominated in currencies other than the functional currency
\nare translated using the closing rates; (ii) non-monetary items that are measured in terms of historical cost in a
\ncurrency other than the functional currency are translated using the exchange rates prevailing at the date of the
\ntransactions; and (iii) non-monetary items that are measured at fair value in a currency other than the functional
\ncurrency are translated using the exchange rates prevailing at the date when the fair value was determined.
\n
\nForeign exchange gains and losses resulting from the settlement of such transactions and from the translation at
\nyear-end exchange rates of monetary assets and liabilities denominated in currencies other than the functional
\ncurrency are recorded as gains and losses from foreign exchange and included in
\nOther financial results
\n in the
\nConsolidated Income Statement, except when deferred in equity as qualifying cash flow hedges and qualifying net
\ninvestment hedges.
\n
\n(3) Translation of financial information in currencies other than the functional currency
\n
\nResults of operations for subsidiaries whose functional currencies are not the U.S. dollar are translated into U.S.
\ndollars at the average exchange rates for each quarter of the year. Financial statement positions are translated at
\nthe period-end exchange rates. Translation differences are recognized in a separate component of equity as currency
\ntranslation adjustments. In the case of a sale or other disposal of any of such subsidiaries, any accumulated
\ntranslation difference would be recognized in the Consolidated Income Statement as a gain or loss from the sale or
\ndisposal following IAS 21.
\n
\nGoodwill and fair value adjustments arising from the acquisition of a foreign operation are treated as assets and
\nliabilities of the foreign operation and translated at the closing exchange rate.
\n
\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag821": {
"value": "\nE Property, plant and equipment
\n
\nProperty, plant and equipment are recognized at historical acquisition or construction cost less accumulated
\ndepreciation and impairment losses. Historical cost includes expenditure that is directly attributable to the acquisition
\nof the items. Property, plant and equipment acquired through acquisitions accounted for as business combinations
\nhave been valued initially at the fair market value of the assets acquired.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\nMajor overhaul and rebuilding expenditures are capitalized as property, plant and equipment only when it is
\nprobable that future economic benefits associated with the item will flow to the Company and the investment
\nenhances the condition of assets beyond its original condition. The carrying amount of the replaced part is
\nderecognized. Maintenance expenses on manufacturing properties are recorded as cost of products sold in the year
\nin which they are incurred.
\n
\nCost may also include transfers from equity of any gains or losses on qualifying cash flow hedges of foreign currency
\npurchases of property, plant and equipment.
\n
\n\nBorrowing costs that are attributable to the acquisition or construction of certain capital assets are capitalized as
\npart of the cost of the asset, in accordance with IAS 23 (revised), \u201cBorrowing Costs\u201d. Assets for which borrowing
\ncosts are capitalized are those that require a substantial period of time to prepare for their intended use.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\nThe depreciation method is reviewed at each year end. Depreciation is calculated using the straight-line method to
\ndepreciate the cost of each asset to its residual value over its estimated useful life, as follows:
\n
\n
\n\n
\n\n\n| Land | \n | \nNo Depreciation | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Buildings and improvements | \n | \n30-50 years | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Plant and production equipment | \n | \n10-40 years | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Vehicles, furniture and fixtures, and other | \nequipment | \n 4-10 years | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nThe assets\u2019 residual values and useful lives of significant plant and production equipment are reviewed and adjusted,
\nif appropriate, at each year-end date. An asset\u2019s carrying amount is written down immediately to its recoverable
\namount if the asset\u2019s carrying amount is greater than its estimated recoverable amount.
\n
\nManagement\u2019s re-estimation of assets useful lives, performed in accordance with IAS 16, \u201cProperty, Plant and
\nEquipment\u201d, resulted in additional depreciation expenses of approximately $39 million for 2022, and did not
\nmaterially affect depreciation expenses for 2023 and 2021.
\n
\nTenaris depreciates each significant part of an item of property, plant and equipment for its different production
\nfacilities that (i) can be properly identified as an independent component with a cost that is significant in relation to
\nthe total cost of the item, and (ii) has a useful operating life that is different from another significant part of that
\nsame item of property, plant and equipment.
\n
\nGains and losses on disposals are determined by comparing the proceeds with the carrying amount of assets and
\nare recognized under
\nOther operating income
\nor
\nOther operating expenses
\n in the Consolidated Income Statement.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag871": {
"value": "Maintenance expenses on manufacturing properties are recorded as cost of products sold in the yearin which they are incurred.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRepairsAndMaintenanceExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag845": {
"value": "\nBorrowing costs that are attributable to the acquisition or construction of certain capital assets are capitalized as
\npart of the cost of the asset, in accordance with IAS 23 (revised), \u201cBorrowing Costs\u201d. Assets for which borrowing
\ncosts are capitalized are those that require a substantial period of time to prepare for their intended use.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingCostsExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag853": {
"value": "\nThe depreciation method is reviewed at each year end. Depreciation is calculated using the straight-line method to
\ndepreciate the cost of each asset to its residual value over its estimated useful life, as follows:
\n
\n
\n\n
\n\n\n| Land | \n | \nNo Depreciation | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Buildings and improvements | \n | \n30-50 years | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Plant and production equipment | \n | \n10-40 years | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Vehicles, furniture and fixtures, and other | \nequipment | \n 4-10 years | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nInformation systems projects recognized as assets are amortized using the straight-line method over their useful
\nlives, generally not exceeding a period of 3 years. Amortization charges are mainly classified as
\nSelling, general and
\nadministrative expenses
\n in the Consolidated Income Statement.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nManagement\u2019s re-estimation of assets useful lives, performed in accordance with IAS 38, did not materially affect
\namortization expenses for 2023, 2022 and 2021.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nLicenses, patents, proprietary technology and those trademarks that have a finite useful life are carried at cost less accumulated amortization. Amortization is calculated using the straight-line method to allocate the cost over their estimated useful lives, which are in the range between 3 and 20 years. Amortization charges are mainly classified as Cost of sales in the Consolidated Income Statement.\nManagement\u2019s re-estimation of assets useful lives, performed in accordance with IAS 38, did not materially affect
\namortization expenses for 2023, 2022 and 2021.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nCustomer relationships acquired in a business combination are recognized at fair value at the acquisition date, have a
\nfinite useful life and are carried at cost less accumulated amortization. Amortization is calculated using the straight line
\nmethod over the initial expected useful lives which were approximately 14 years for Maverick, 10 years for Hydril, 9
\nyears for SSPC, 3 years for IPSCO, and 4 months for Mattr\u2019s pipe coating business unit.
\n
\nIn 2022, the Company reviewed the useful life of SSPC\u2019s customer relationships and decided to reduce it from 5 years
\nto 3 years, consequently a higher amortization charge of approximately $4.1 million was recorded in the Consolidated
\nIncome Statement under
\nSelling, general and administrative expenses
\n for the year ended December 31, 2022.
\n
\nManagement\u2019s re-estimation of assets useful lives, performed in accordance with IAS 38, did not affect amortization
\nexpenses for 2023 and 2021.
\n
\nAs of December 31, 2023 the net book value of SSPC\u2019s customer relationship amounted to $26.4 million, with a
\nresidual useful life of 1 year and 9 months, Mattr\u2019s amounted to $21.5, with a residual useful life of 3 months, while
\nIPSCO\u2019s, Maverick\u2019s and Hydril\u2019s customer relationships were fully amortized.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag825": {
"value": "\n
\n
\nF Intangible assets
\n
\n\n
\n\n(1) Goodwill
\n
\nGoodwill represents the excess of the acquisition cost over the fair value of Tenaris\u2019s share of net identifiable assets
\nacquired as part of business combinations determined mainly by independent valuations. Goodwill is tested at least
\nannually for impairment and carried at cost less accumulated impairment losses. Impairment losses on goodwill are
\nnot reversed. Goodwill is included in the Consolidated Statement of Financial Position under
\nIntangible assets, net.
\n
\nFor the purpose of impairment testing, goodwill is allocated to a cash generating unit (\u201cCGU\u201d) or group of CGUs
\nthat are expected to benefit from the business combination which generated the goodwill being tested.
\n
\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n (2) Information systems projects
\n
\nCosts associated with maintaining computer software programs are generally recognized as an expense as incurred.
\nHowever, costs directly related to the development, acquisition and implementation of information systems are
\nrecognized as intangible assets if it is probable that they have economic benefits exceeding one year and comply
\nwith the recognition criteria of IAS 38, \u201cIntangible Assets\u201d.
\n
\n\nInformation systems projects recognized as assets are amortized using the straight-line method over their useful
\nlives, generally not exceeding a period of 3 years. Amortization charges are mainly classified as
\nSelling, general and
\nadministrative expenses
\n in the Consolidated Income Statement.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n\n
\n
\n
\n
\n
\n
\n\nManagement\u2019s re-estimation of assets useful lives, performed in accordance with IAS 38, did not materially affect
\namortization expenses for 2023, 2022 and 2021.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n(3) Licenses, patents, trademarks and proprietary technology
\n
\nLicenses, patents, trademarks, and proprietary technology are initially recognized at fair value at the acquisition
\ndate. Licenses, patents, proprietary technology and those trademarks that have a finite useful life are carried at cost
\nless accumulated amortization. Amortization is calculated using the straight-line method to allocate the cost over
\ntheir estimated useful lives, which are in the range between 3 and 20 years. Amortization charges are mainly
\nclassified as Cost of sales in the Consolidated Income Statement.
\n
\nThe balance of acquired trademarks that have indefinite useful lives according to external appraisal amounts to
\n$86.7 million at December 31, 2023, 2022 and 2021, and are included in Hydril CGU. Main factors considered in
\nthe determination of the indefinite useful lives include the years that they have been in service and their recognition
\namong customers in the industry.
\n
\n\nManagement\u2019s re-estimation of assets useful lives, performed in accordance with IAS 38, did not materially affect
\namortization expenses for 2023, 2022 and 2021.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n
\n\n(4) Research and development
\n
\nResearch expenditures as well as development costs that do not fulfill the criteria for capitalization are recorded as
\nCost of sales
\n in the Consolidated Income Statement as incurred. Research and development expenditures included
\nin
\nCost of sales
\n for the years 2023, 2022 and 2021 totaled $60.0 million, $50.7 million and $45.3 million,
\nrespectively.
\n
\nCapitalized costs were not material for the years 2023, 2022 and 2021.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n(5) Customer relationships
\n
\nIn accordance with IFRS 3, \"Business Combinations\" and IAS 38, Tenaris has recognized the value of customer
\nrelationships separately from goodwill attributable to the acquisition of Maverick Tube Corporation (\u201cMaverick\u201d) and
\nHydril Company (\u201cHydril\u201d) groups, SSPC, Ipsco Tubulars Inc. (\u201cIPSCO\u201d) and the more recent acquisition of Mattr\u2019s pipe
\ncoating business unit.
\n
\n\nCustomer relationships acquired in a business combination are recognized at fair value at the acquisition date, have a
\nfinite useful life and are carried at cost less accumulated amortization. Amortization is calculated using the straight line
\nmethod over the initial expected useful lives which were approximately 14 years for Maverick, 10 years for Hydril, 9
\nyears for SSPC, 3 years for IPSCO, and 4 months for Mattr\u2019s pipe coating business unit.
\n
\nIn 2022, the Company reviewed the useful life of SSPC\u2019s customer relationships and decided to reduce it from 5 years
\nto 3 years, consequently a higher amortization charge of approximately $4.1 million was recorded in the Consolidated
\nIncome Statement under
\nSelling, general and administrative expenses
\n for the year ended December 31, 2022.
\n
\nManagement\u2019s re-estimation of assets useful lives, performed in accordance with IAS 38, did not affect amortization
\nexpenses for 2023 and 2021.
\n
\nAs of December 31, 2023 the net book value of SSPC\u2019s customer relationship amounted to $26.4 million, with a
\nresidual useful life of 1 year and 9 months, Mattr\u2019s amounted to $21.5, with a residual useful life of 3 months, while
\nIPSCO\u2019s, Maverick\u2019s and Hydril\u2019s customer relationships were fully amortized.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag874": {
"value": "\n
\n\n(1) Goodwill
\n
\nGoodwill represents the excess of the acquisition cost over the fair value of Tenaris\u2019s share of net identifiable assets
\nacquired as part of business combinations determined mainly by independent valuations. Goodwill is tested at least
\nannually for impairment and carried at cost less accumulated impairment losses. Impairment losses on goodwill are
\nnot reversed. Goodwill is included in the Consolidated Statement of Financial Position under
\nIntangible assets, net.
\n
\nFor the purpose of impairment testing, goodwill is allocated to a cash generating unit (\u201cCGU\u201d) or group of CGUs
\nthat are expected to benefit from the business combination which generated the goodwill being tested.
\n
\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag914": {
"value": "\n(1) Goodwill
\n
\nGoodwill represents the excess of the acquisition cost over the fair value of Tenaris\u2019s share of net identifiable assets
\nacquired as part of business combinations determined mainly by independent valuations. Goodwill is tested at least
\nannually for impairment and carried at cost less accumulated impairment losses. Impairment losses on goodwill are
\nnot reversed. Goodwill is included in the Consolidated Statement of Financial Position under
\nIntangible assets, net.
\n
\nFor the purpose of impairment testing, goodwill is allocated to a cash generating unit (\u201cCGU\u201d) or group of CGUs
\nthat are expected to benefit from the business combination which generated the goodwill being tested.
\n
\n\n\n\nH Impairment of non-financial assets
\n
\nLong-lived assets including identifiable intangible assets are reviewed for impairment at the lowest level for which
\nthere are separately identifiable cash flows (\u201cCGU\u201d). Most of the Company\u2019s principal subsidiaries that constitute
\na CGU have a single main production facility and, accordingly, each of such subsidiaries represents the lowest level
\nof asset aggregation that generates largely independent cash inflows.
\n
\nAssets that are subject to amortization or depreciation are reviewed for impairment whenever events or changes in
\ncircumstances indicate that the carrying amount may not be recoverable. Intangible assets with indefinite useful
\nlives, including goodwill, are subject to at least an annual impairment test, or are tested more frequently if events
\nor circumstances indicate that the carrying amount value may be impaired. In some situations where there have not
\nbeen significant changes to CGU assets and liabilities as well as external and internal events and circumstances
\nwhich could materially alter the recoverable amount of the CGU, the most recent detailed calculation of recoverable
\namount made in a preceding period may be used in the impairment test for that CGU in the current period.
\n
\nIn assessing whether there is any indication that a CGU may be impaired, external and internal sources of
\ninformation are analyzed. Material facts and circumstances specifically considered in the analysis usually include the
\ndiscount rate used in Tenaris\u2019s cash flow projections and the business condition in terms of competitive, economic
\nand regulatory factors, such as the cost of raw materials, oil and gas prices, and the evolution of the rig count.
\n
\nAn impairment loss is recognized for the amount by which the asset\u2019s carrying amount exceeds its recoverable
\namount. The recoverable amount is the higher between the asset\u2019s value in use and fair value less costs of disposal.
\nAny impairment loss is allocated to reduce the carrying amount of the assets of the CGU in the following order:
\n
\n(a) first, to reduce the carrying amount of any goodwill allocated to the CGU; and
\n(b) then, to the other assets of the unit (group of units) pro-rata on the basis of the carrying amount of each asset
\nin the unit (group of units), considering not to reduce the carrying amount of the asset below the highest of its fair
\nvalue less cost of disposal, its value in use or zero.
\n
\nValue in use is calculated by discounting the estimated cash flows over a five year period (or higher if the period
\ncan be justified) based on forecasts approved by management. For the subsequent years beyond the five-year
\nperiod, a terminal value is calculated based on perpetuity considering a nominal growth rate of 2% taking into
\naccount among others, mainly the historical inflation rate.
\n
\nFor purposes of calculating the fair value less costs of disposal, Tenaris uses the estimated value of future cash flows
\nthat a market participant could generate from the corresponding CGU.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nManagement judgment is required to estimate discounted future cash flows. Actual cash flows and values could
\nvary significantly from the forecasted future cash flows and related values derived using discounting techniques.
\n
\nNon-financial assets other than goodwill that suffered an impairment are reviewed for possible reversal at each
\nreporting date. For more information on impairment charges see note 5 to these Consolidated Financial Statements.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nCertain non-derivative financial assets that the Company held not for trading have been categorized as financial
\nassets at fair value through other comprehensive income (\u201cFVOCI\u201d), as the business model objective is achieved by
\nboth holding financial assets in order to collect contractual cash flows and selling financial assets. They are carried
\nat fair value and interest income from these financial assets is included in finance income using the effective interest
\nrate method. Unrealized gains or losses are recorded as a fair value adjustment in the Consolidated Statement of
\nComprehensive Income and transferred to the Consolidated Income Statement when the financial asset is disposed.
\nExchange gains and losses and impairments related to the financial assets are immediately recognized in the
\nConsolidated Income Statement. FVOCI instruments with maturities greater than 12 months after the balance sheet
\ndate are included in non-current assets.
\n\n\n\n\nExchange gains and losses and impairments related to the financial assets are immediately recognized in the
\nConsolidated Income Statement.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag869": {
"value": "\n
\n (2) Information systems projects
\n
\nCosts associated with maintaining computer software programs are generally recognized as an expense as incurred.
\nHowever, costs directly related to the development, acquisition and implementation of information systems are
\nrecognized as intangible assets if it is probable that they have economic benefits exceeding one year and comply
\nwith the recognition criteria of IAS 38, \u201cIntangible Assets\u201d.
\n
\n\nInformation systems projects recognized as assets are amortized using the straight-line method over their useful
\nlives, generally not exceeding a period of 3 years. Amortization charges are mainly classified as
\nSelling, general and
\nadministrative expenses
\n in the Consolidated Income Statement.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n\nManagement\u2019s re-estimation of assets useful lives, performed in accordance with IAS 38, did not materially affect
\namortization expenses for 2023, 2022 and 2021.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n(3) Licenses, patents, trademarks and proprietary technology
\n
\nLicenses, patents, trademarks, and proprietary technology are initially recognized at fair value at the acquisition
\ndate. Licenses, patents, proprietary technology and those trademarks that have a finite useful life are carried at cost
\nless accumulated amortization. Amortization is calculated using the straight-line method to allocate the cost over
\ntheir estimated useful lives, which are in the range between 3 and 20 years. Amortization charges are mainly
\nclassified as Cost of sales in the Consolidated Income Statement.
\n
\nThe balance of acquired trademarks that have indefinite useful lives according to external appraisal amounts to
\n$86.7 million at December 31, 2023, 2022 and 2021, and are included in Hydril CGU. Main factors considered in
\nthe determination of the indefinite useful lives include the years that they have been in service and their recognition
\namong customers in the industry.
\n
\n\nManagement\u2019s re-estimation of assets useful lives, performed in accordance with IAS 38, did not materially affect
\namortization expenses for 2023, 2022 and 2021.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n
\n\n(4) Research and development
\n
\nResearch expenditures as well as development costs that do not fulfill the criteria for capitalization are recorded as
\nCost of sales
\n in the Consolidated Income Statement as incurred. Research and development expenditures included
\nin
\nCost of sales
\n for the years 2023, 2022 and 2021 totaled $60.0 million, $50.7 million and $45.3 million,
\nrespectively.
\n
\nCapitalized costs were not material for the years 2023, 2022 and 2021.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n(5) Customer relationships
\n
\nIn accordance with IFRS 3, \"Business Combinations\" and IAS 38, Tenaris has recognized the value of customer
\nrelationships separately from goodwill attributable to the acquisition of Maverick Tube Corporation (\u201cMaverick\u201d) and
\nHydril Company (\u201cHydril\u201d) groups, SSPC, Ipsco Tubulars Inc. (\u201cIPSCO\u201d) and the more recent acquisition of Mattr\u2019s pipe
\ncoating business unit.
\n
\n\nCustomer relationships acquired in a business combination are recognized at fair value at the acquisition date, have a
\nfinite useful life and are carried at cost less accumulated amortization. Amortization is calculated using the straight line
\nmethod over the initial expected useful lives which were approximately 14 years for Maverick, 10 years for Hydril, 9
\nyears for SSPC, 3 years for IPSCO, and 4 months for Mattr\u2019s pipe coating business unit.
\n
\nIn 2022, the Company reviewed the useful life of SSPC\u2019s customer relationships and decided to reduce it from 5 years
\nto 3 years, consequently a higher amortization charge of approximately $4.1 million was recorded in the Consolidated
\nIncome Statement under
\nSelling, general and administrative expenses
\n for the year ended December 31, 2022.
\n
\nManagement\u2019s re-estimation of assets useful lives, performed in accordance with IAS 38, did not affect amortization
\nexpenses for 2023 and 2021.
\n
\nAs of December 31, 2023 the net book value of SSPC\u2019s customer relationship amounted to $26.4 million, with a
\nresidual useful life of 1 year and 9 months, Mattr\u2019s amounted to $21.5, with a residual useful life of 3 months, while
\nIPSCO\u2019s, Maverick\u2019s and Hydril\u2019s customer relationships were fully amortized.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nNon-financial assets other than goodwill that suffered an impairment are reviewed for possible reversal at eachreporting date.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag826": {
"value": "\n
\n\n(4) Research and development
\n
\nResearch expenditures as well as development costs that do not fulfill the criteria for capitalization are recorded as
\nCost of sales
\n in the Consolidated Income Statement as incurred. Research and development expenditures included
\nin
\nCost of sales
\n for the years 2023, 2022 and 2021 totaled $60.0 million, $50.7 million and $45.3 million,
\nrespectively.
\n
\nCapitalized costs were not material for the years 2023, 2022 and 2021.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag831": {
"value": "\n(4) Research and development
\n
\nResearch expenditures as well as development costs that do not fulfill the criteria for capitalization are recorded as
\nCost of sales
\n in the Consolidated Income Statement as incurred. Research and development expenditures included
\nin
\nCost of sales
\n for the years 2023, 2022 and 2021 totaled $60.0 million, $50.7 million and $45.3 million,
\nrespectively.
\n
\nCapitalized costs were not material for the years 2023, 2022 and 2021.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag823": {
"value": "\nG Right-of-use assets and lease liabilities
\n
\nLeases are recognized as a right-of-use asset and a corresponding liability at the date at which the leased asset is
\navailable for use by the group. Each lease payment is allocated between the liability and finance cost. The finance
\ncost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the
\nremaining balance of the liability for each period. The right-of-use asset is depreciated over the lease term on a
\nstraight-line basis.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nLease liabilities include the net present value of i) fixed payments, less any lease incentives receivable, ii) variable
\nlease payments that are based on an index or a rate, iii) amounts expected to be payable by the lessee under residual
\nvalue guarantees, iv) the exercise price of a purchase option if the lessee is reasonably certain to exercise that option,
\nand v) payments of penalties for terminating the lease, if the lease term reflects the lessee exercising that option.
\n
\nThe lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be determined,
\nthe lessee\u2019s incremental borrowing rate is used, being the rate that the lessee would have to pay to borrow the
\nfunds necessary to obtain an asset of similar value in a similar economic environment with similar terms and
\nconditions.
\n
\nRight-of-use assets are measured at cost comprising the amount of the initial measurement of the lease liability,
\nany lease payments made at or before the commencement date less any lease incentives received and any initial
\ndirect costs incurred by the lessee.
\n
\nIn determining the lease term, management considers all facts and circumstances that create an economic incentive
\nto exercise an extension option or early termination, or not to exercise a termination option. Extension options (or
\nperiods after termination options) are only included in the lease term if the lease is reasonably certain to be extended
\n(or not terminated).
\n
\nPayments associated with short-term leases, variable leases and leases of low value assets are recognized on a
\nstraight-line basis as expenses in profit or loss. Short-term leases are leases with a lease term of 12 months or less.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag824": {
"value": "The financecost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on theremaining balance of the liability for each period.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag848": {
"value": "\n
\n\nH Impairment of non-financial assets
\n
\nLong-lived assets including identifiable intangible assets are reviewed for impairment at the lowest level for which
\nthere are separately identifiable cash flows (\u201cCGU\u201d). Most of the Company\u2019s principal subsidiaries that constitute
\na CGU have a single main production facility and, accordingly, each of such subsidiaries represents the lowest level
\nof asset aggregation that generates largely independent cash inflows.
\n
\nAssets that are subject to amortization or depreciation are reviewed for impairment whenever events or changes in
\ncircumstances indicate that the carrying amount may not be recoverable. Intangible assets with indefinite useful
\nlives, including goodwill, are subject to at least an annual impairment test, or are tested more frequently if events
\nor circumstances indicate that the carrying amount value may be impaired. In some situations where there have not
\nbeen significant changes to CGU assets and liabilities as well as external and internal events and circumstances
\nwhich could materially alter the recoverable amount of the CGU, the most recent detailed calculation of recoverable
\namount made in a preceding period may be used in the impairment test for that CGU in the current period.
\n
\nIn assessing whether there is any indication that a CGU may be impaired, external and internal sources of
\ninformation are analyzed. Material facts and circumstances specifically considered in the analysis usually include the
\ndiscount rate used in Tenaris\u2019s cash flow projections and the business condition in terms of competitive, economic
\nand regulatory factors, such as the cost of raw materials, oil and gas prices, and the evolution of the rig count.
\n
\nAn impairment loss is recognized for the amount by which the asset\u2019s carrying amount exceeds its recoverable
\namount. The recoverable amount is the higher between the asset\u2019s value in use and fair value less costs of disposal.
\nAny impairment loss is allocated to reduce the carrying amount of the assets of the CGU in the following order:
\n
\n(a) first, to reduce the carrying amount of any goodwill allocated to the CGU; and
\n(b) then, to the other assets of the unit (group of units) pro-rata on the basis of the carrying amount of each asset
\nin the unit (group of units), considering not to reduce the carrying amount of the asset below the highest of its fair
\nvalue less cost of disposal, its value in use or zero.
\n
\nValue in use is calculated by discounting the estimated cash flows over a five year period (or higher if the period
\ncan be justified) based on forecasts approved by management. For the subsequent years beyond the five-year
\nperiod, a terminal value is calculated based on perpetuity considering a nominal growth rate of 2% taking into
\naccount among others, mainly the historical inflation rate.
\n
\nFor purposes of calculating the fair value less costs of disposal, Tenaris uses the estimated value of future cash flows
\nthat a market participant could generate from the corresponding CGU.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\nManagement judgment is required to estimate discounted future cash flows. Actual cash flows and values could
\nvary significantly from the forecasted future cash flows and related values derived using discounting techniques.
\n
\nNon-financial assets other than goodwill that suffered an impairment are reviewed for possible reversal at each
\nreporting date. For more information on impairment charges see note 5 to these Consolidated Financial Statements.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag713": {
"value": "\n\n
\nI Other investments
\n
\nOther investments consist primarily of investments in financial instruments and time deposits with a maturity of
\nmore than three months at the date of purchase.
\n
\n\n\n\nCertain non-derivative financial assets that the Company held not for trading have been categorized as financial
\nassets at fair value through other comprehensive income (\u201cFVOCI\u201d), as the business model objective is achieved by
\nboth holding financial assets in order to collect contractual cash flows and selling financial assets. They are carried
\nat fair value and interest income from these financial assets is included in finance income using the effective interest
\nrate method. Unrealized gains or losses are recorded as a fair value adjustment in the Consolidated Statement of
\nComprehensive Income and transferred to the Consolidated Income Statement when the financial asset is disposed.
\nExchange gains and losses and impairments related to the financial assets are immediately recognized in the
\nConsolidated Income Statement. FVOCI instruments with maturities greater than 12 months after the balance sheet
\ndate are included in non-current assets.
\n\n\n\n\n
\n\nOther investments in financial instruments and time deposits are categorized as financial assets at fair value through
\nprofit or loss (\u201cFVPL\u201d) because such investments are held for trading and their performance is evaluated on a fair
\nvalue basis. The results of these investments are recognized in
\nFinancial Results
\n in the Consolidated Income
\nStatement.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nPurchases and sales of financial investments are recognized as of their settlement date.
\n
\nThe fair values of quoted investments are generally based on current bid prices. If the market for a financial investment
\nis not active or the securities are not listed, Tenaris estimates the fair value by using standard valuation techniques. See
\nsection III Financial Risk Management.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag917": {
"value": "\nCertain non-derivative financial assets that the Company held not for trading have been categorized as financial
\nassets at fair value through other comprehensive income (\u201cFVOCI\u201d), as the business model objective is achieved by
\nboth holding financial assets in order to collect contractual cash flows and selling financial assets. They are carried
\nat fair value and interest income from these financial assets is included in finance income using the effective interest
\nrate method. Unrealized gains or losses are recorded as a fair value adjustment in the Consolidated Statement of
\nComprehensive Income and transferred to the Consolidated Income Statement when the financial asset is disposed.
\nExchange gains and losses and impairments related to the financial assets are immediately recognized in the
\nConsolidated Income Statement. FVOCI instruments with maturities greater than 12 months after the balance sheet
\ndate are included in non-current assets.
\n\n\n
\n\nExchange gains and losses and impairments related to the financial assets are immediately recognized in the
\nConsolidated Income Statement.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag725": {
"value": "\nOther investments in financial instruments and time deposits are categorized as financial assets at fair value through
\nprofit or loss (\u201cFVPL\u201d) because such investments are held for trading and their performance is evaluated on a fair
\nvalue basis. The results of these investments are recognized in
\nFinancial Results
\n in the Consolidated Income
\nStatement.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nFair value through profit and loss
\n: Assets that do not meet the criteria for amortized cost or FVOCI. Changes in fair
\nvalue of financial instruments at FVPL are immediately recognized in the Consolidated Income Statement.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag707": {
"value": "\nJ Inventories
\n
\nInventories are stated at the lower between cost and net realizable value. The cost of finished goods and goods in
\nprocess is comprised of raw materials, direct labor, utilities, freights and other direct costs and related production
\noverhead costs, and it excludes borrowing costs. The allocation of fixed production costs, including depreciation
\nand amortization charges, is based on the normal level of production capacity. Inventories cost is mainly based on
\nthe FIFO method. Tenaris estimates the net realizable value of inventories by grouping, where applicable, similar or
\nrelated items. Net realizable value is the estimated selling price in the ordinary course of business, less any estimated
\ncosts of completion and selling expenses. Goods in transit as of year-end are valued based on the supplier\u2019s invoice
\ncost.
\n
\nTenaris establishes an allowance for obsolete or slow-moving inventories related to finished goods, goods in process,
\nsupplies and spare parts. For slow moving or obsolete finished products, an allowance is established based on
\nmanagement\u2019s analysis of product aging. An allowance for obsolete and slow-moving inventory of supplies and
\nspare parts is established based on management's analysis of such items to be used as intended and the
\nconsideration of potential obsolescence due to technological changes, aging and consumption patterns.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag734": {
"value": "\nK Trade and other receivables
\n
\nTrade and other receivables are recognized initially at fair value that corresponds to the amount of consideration that
\nis unconditional unless they contain significant financing components. The Company holds trade receivables with the
\nobjective to collect the contractual cash flows and therefore measures them subsequently at amortized cost using the
\neffective interest method. Due to their short-term nature, their carrying amount is considered to be the same as their
\nfair value.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nTenaris applies the IFRS 9 \u201cFinancial Instruments\u201d simplified approach to measure expected credit losses, which uses
\na lifetime expected loss allowance for all trade receivables. To measure the expected credit losses, trade receivables
\nhave been grouped based on shared credit risk characteristics and the days past due. The expected loss rates are based
\non the payment profiles of sales over a period of three years and the corresponding historical credit losses experienced
\nwithin this period. The expected loss allowance also reflects current and forward-looking information on
\nmacroeconomic factors affecting the ability of each customer to settle the receivables.
\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag920": {
"value": "\nL Cash and cash equivalents
\n
\nCash and cash equivalents are comprised of cash at banks, liquidity funds and short-term investments with a maturity
\nof less than three months at the date of purchase which are readily convertible to known amounts of cash. Assets
\nrecorded in cash and cash equivalents are carried at fair market value or at historical cost which approximates fair
\nmarket value.
\n
\nIn the Consolidated Statement of Financial Position, bank overdrafts are included in
\nBorrowings
\n in current liabilities.
\n
\nFor the purposes of the Consolidated Statement of Cash Flows,
\nCash and cash equivalents
\n includes overdrafts.
\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag921": {
"value": "\n
\n\n
\n
\n
\nM Equity
\n
\n(1) Equity components
\n
\nThe Consolidated Statement of Changes in Equity includes:
\n
\n\u25aa the value of share capital, legal reserve, share premium and other distributable reserves calculated in
\naccordance with Luxembourg law;
\n\u25aa the currency translation adjustment, treasury shares, other reserves, retained earnings and non-controlling
\ninterest calculated in accordance with IFRS.
\n
\n\n(2)
\n
\nShare capital
\n
\nThe Company has an authorized share capital of a single class of 2.5 billion shares having a nominal value of $1.00
\nper share. Total ordinary shares issued as of December 31, 2023, 2022 and 2021 were 1,180,536,830 with a par
\nvalue of $1.00 per share with one vote each. Total ordinary shares outstanding as of December 31, 2023, were
\n1,167,888,739 and as of December 31, 2022 and 2021 were 1,180,536,830 with a par value of $1.00 per share
\nwith one vote each. Outstanding shares do not include treasury shares. All issued shares are fully paid.
\n
\n\n\n\n
\n\n(3)
\n
\nTreasury Shares
\n
\nAcquisitions of treasury shares are recorded at acquisition cost, deducted from equity until disposal or cancellation.
\nAny potential gains or losses on disposal of treasury shares are recognized under
\nOther reserves
\n in the Consolidated
\nStatement of Changes in Equity. Treasury shares outstanding as of December 31, 2023, were 12,648,091.
\n
\n\n\n\n
\n\n(4)
\n
\nDividends distribution by the Company to shareholders
\n
\nDividends distributions are recorded in the Company\u2019s financial statements when Company\u2019s shareholders have the
\nright to receive the payment, or when interim dividends are approved by the Board of Directors in accordance with
\nthe by-laws of the Company.
\n
\nDividends may be paid by the Company to the extent that it has distributable retained earnings, calculated in
\naccordance with Luxembourg law. See note 27 (iii) to these Consolidated Financial Statements.
\n
\n\n\n\n
\n\n\n\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag923": {
"value": "\n
\n
\n
\nM Equity
\n
\n(1) Equity components
\n
\nThe Consolidated Statement of Changes in Equity includes:
\n
\n\u25aa the value of share capital, legal reserve, share premium and other distributable reserves calculated in
\naccordance with Luxembourg law;
\n\u25aa the currency translation adjustment, treasury shares, other reserves, retained earnings and non-controlling
\ninterest calculated in accordance with IFRS.
\n
\n\n(2)
\n
\nShare capital
\n
\nThe Company has an authorized share capital of a single class of 2.5 billion shares having a nominal value of $1.00
\nper share. Total ordinary shares issued as of December 31, 2023, 2022 and 2021 were 1,180,536,830 with a par
\nvalue of $1.00 per share with one vote each. Total ordinary shares outstanding as of December 31, 2023, were
\n1,167,888,739 and as of December 31, 2022 and 2021 were 1,180,536,830 with a par value of $1.00 per share
\nwith one vote each. Outstanding shares do not include treasury shares. All issued shares are fully paid.
\n
\n\n\n\n
\n\n(3)
\n
\nTreasury Shares
\n
\nAcquisitions of treasury shares are recorded at acquisition cost, deducted from equity until disposal or cancellation.
\nAny potential gains or losses on disposal of treasury shares are recognized under
\nOther reserves
\n in the Consolidated
\nStatement of Changes in Equity. Treasury shares outstanding as of December 31, 2023, were 12,648,091.
\n
\n\n\n\n
\n\n(4)
\n
\nDividends distribution by the Company to shareholders
\n
\nDividends distributions are recorded in the Company\u2019s financial statements when Company\u2019s shareholders have the
\nright to receive the payment, or when interim dividends are approved by the Board of Directors in accordance with
\nthe by-laws of the Company.
\n
\nDividends may be paid by the Company to the extent that it has distributable retained earnings, calculated in
\naccordance with Luxembourg law. See note 27 (iii) to these Consolidated Financial Statements.
\n
\n\n\n\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag922": {
"value": "\n(2)
\n
\nShare capital
\n
\nThe Company has an authorized share capital of a single class of 2.5 billion shares having a nominal value of $1.00
\nper share. Total ordinary shares issued as of December 31, 2023, 2022 and 2021 were 1,180,536,830 with a par
\nvalue of $1.00 per share with one vote each. Total ordinary shares outstanding as of December 31, 2023, were
\n1,167,888,739 and as of December 31, 2022 and 2021 were 1,180,536,830 with a par value of $1.00 per share
\nwith one vote each. Outstanding shares do not include treasury shares. All issued shares are fully paid.
\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag924": {
"value": "\n(3)
\n
\nTreasury Shares
\n
\nAcquisitions of treasury shares are recorded at acquisition cost, deducted from equity until disposal or cancellation.
\nAny potential gains or losses on disposal of treasury shares are recognized under
\nOther reserves
\n in the Consolidated
\nStatement of Changes in Equity. Treasury shares outstanding as of December 31, 2023, were 12,648,091.
\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag925": {
"value": "\n(4)
\n
\nDividends distribution by the Company to shareholders
\n
\nDividends distributions are recorded in the Company\u2019s financial statements when Company\u2019s shareholders have the
\nright to receive the payment, or when interim dividends are approved by the Board of Directors in accordance with
\nthe by-laws of the Company.
\n
\nDividends may be paid by the Company to the extent that it has distributable retained earnings, calculated in
\naccordance with Luxembourg law. See note 27 (iii) to these Consolidated Financial Statements.
\n
\n\n\n\nOther revenues earned by Tenaris are recognized on the following basis:
\n
\n\u25aa Interest income: on the effective yield basis.
\n\u25aa Dividend income from investments in other companies: when Tenaris\u2019s right to receive payment is
\nestablished.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag926": {
"value": "\nN Borrowings
\n
\nBorrowings are recognized initially at fair value net of transaction costs incurred and subsequently measured at
\namortized cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is
\nrecognized in profit or loss over the period of the borrowings using the effective interest method.
\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag737": {
"value": "\n
\n
\nO Current and deferred income tax
\n
\nThe income tax expense or credit for the period is the tax payable or recoverable on the current period\u2019s taxable
\nincome based on the applicable income tax rate for each jurisdiction adjusted by changes in deferred tax assets and
\nliabilities attributable to temporary differences and to unused tax losses. Current and deferred tax is recognized in
\nthe Consolidated Income Statement, except to the extent that it relates to items recognized in other comprehensive
\nincome or directly in equity. In these cases, the tax is also recognized in other comprehensive income or directly in
\nequity, respectively.
\n
\nThe current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the
\nreporting date in the countries where the Company\u2019s subsidiaries operate and generate taxable income.
\n
\n\nDeferred income tax is recognized applying the liability method on temporary differences arising between the tax
\nbases of assets and liabilities and their carrying amounts in the financial statements. The temporary differences arise
\nmainly from net operating loss carry-forwards, the effect of currency translation on depreciable fixed assets and
\ninventories, depreciation on property, plant and equipment, valuation of inventories, provisions for post-
\nemployment benefits and other long-term employee benefits and fair value adjustments of assets acquired in
\nbusiness combinations. However, deferred tax liabilities are not recognized if they arise from the initial recognition
\nof goodwill. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the time
\nperiod when the asset is realized or the liability is settled, based on tax laws that have been enacted or substantively
\nenacted at the reporting date.
\n
\nManagement periodically evaluates positions taken in tax returns with respect to situations in which applicable tax
\nregulation is subject to interpretation and considers whether it is probable that a taxation authority will accept an
\nuncertain tax treatment. The Company measures its tax balances either based on the most likely amount or the
\nexpected value, depending on which method provides a better prediction of the resolution of the uncertainty.
\n
\nDeferred tax assets are recognized to the extent that it is probable that future taxable profits will be available against
\nwhich the temporary differences and losses can be utilized. At the end of each reporting period, Tenaris reassesses
\nunrecognized deferred tax assets. Tenaris recognizes a previously unrecognized deferred tax asset to the extent that
\nit has become probable that future taxable income will allow the deferred tax asset to be recovered.
\n
\nDeferred tax liabilities and assets are not recognized for temporary differences between the carrying amount and
\ntax basis of investments in foreign operations where the company is able to control the timing of the reversal of the
\ntemporary differences and it is probable that the differences will not reverse in the foreseeable future.
\n
\nDeferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets and
\nliabilities and when the deferred tax balances relate to the same taxation authority. Current tax assets and tax
\nliabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net
\nbasis, or to realize the asset and settle the liability simultaneously.
\n
\nDeferred tax assets and liabilities are re-measured if tax rates change. These amounts are charged or credited to the
\nConsolidated Income Statement or to the item
\nOther comprehensive income
\nin the Consolidated Statement of
\nComprehensive Income, depending on the account to which the original amount was charged or credited.
\n
\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag723": {
"value": "\nDeferred income tax is recognized applying the liability method on temporary differences arising between the tax
\nbases of assets and liabilities and their carrying amounts in the financial statements. The temporary differences arise
\nmainly from net operating loss carry-forwards, the effect of currency translation on depreciable fixed assets and
\ninventories, depreciation on property, plant and equipment, valuation of inventories, provisions for post-
\nemployment benefits and other long-term employee benefits and fair value adjustments of assets acquired in
\nbusiness combinations. However, deferred tax liabilities are not recognized if they arise from the initial recognition
\nof goodwill. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the time
\nperiod when the asset is realized or the liability is settled, based on tax laws that have been enacted or substantively
\nenacted at the reporting date.
\n
\nManagement periodically evaluates positions taken in tax returns with respect to situations in which applicable tax
\nregulation is subject to interpretation and considers whether it is probable that a taxation authority will accept an
\nuncertain tax treatment. The Company measures its tax balances either based on the most likely amount or the
\nexpected value, depending on which method provides a better prediction of the resolution of the uncertainty.
\n
\nDeferred tax assets are recognized to the extent that it is probable that future taxable profits will be available against
\nwhich the temporary differences and losses can be utilized. At the end of each reporting period, Tenaris reassesses
\nunrecognized deferred tax assets. Tenaris recognizes a previously unrecognized deferred tax asset to the extent that
\nit has become probable that future taxable income will allow the deferred tax asset to be recovered.
\n
\nDeferred tax liabilities and assets are not recognized for temporary differences between the carrying amount and
\ntax basis of investments in foreign operations where the company is able to control the timing of the reversal of the
\ntemporary differences and it is probable that the differences will not reverse in the foreseeable future.
\n
\nDeferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets and
\nliabilities and when the deferred tax balances relate to the same taxation authority. Current tax assets and tax
\nliabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net
\nbasis, or to realize the asset and settle the liability simultaneously.
\n
\nDeferred tax assets and liabilities are re-measured if tax rates change. These amounts are charged or credited to the
\nConsolidated Income Statement or to the item
\nOther comprehensive income
\nin the Consolidated Statement of
\nComprehensive Income, depending on the account to which the original amount was charged or credited.
\n
\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag731": {
"value": "\nP Employee benefits
\n
\n(1)
\n
\nShort-term obligations
\n
\nLiabilities for wages and salaries are recognized in respect of employees\u2019 services up to the end of the reporting
\nperiod and are measured at the amounts expected to be paid when the liabilities are settled. The liabilities are
\npresented as current employee benefit obligations in the balance sheet.
\n
\n(2)
\n
\nPost-employment benefits
\n
\nThe Company has defined benefit and defined contribution plans. A defined benefit plan is a pension plan that
\ndefines an amount of pension benefit that an employee will receive on retirement, usually dependent on one or
\nmore factors such as age, years of service and compensation.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nThe liability recognized in the statement of financial position in respect of defined benefit pension plans is the
\npresent value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets,
\nif any. The defined benefit obligation is calculated annually (at year end) by independent actuaries using the
\nprojected unit credit method. The present value of the defined benefit obligation is determined by discounting the
\nestimated future cash flows using interest rates of high-quality corporate bonds that are denominated in the
\ncurrency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the
\nrelated pension obligation.
\n
\nRemeasurement gains and losses arising from experience adjustments and changes in actuarial assumptions are
\ncharged or credited to equity in
\nOther comprehensive income
\n in the period in which they arise. Past-service costs
\nare recognized immediately in the Income Statement.
\n
\nFor defined benefit funded plans, net interest income / expense is calculated based on the surplus or deficit derived
\nby the difference between the defined benefit obligations less fair value of plan assets.
\n
\nFor defined contribution plans, the Company pays contributions to publicly or privately administered pension
\ninsurance plans on a mandatory, contractual or voluntary basis. The Company has no further payment obligations
\nonce the contributions have been paid. The contributions are recognized as employee benefit expenses when they
\nare due. Prepaid contributions are recognized as an asset to the extent that a cash refund or a reduction in the
\nfuture payments is available.
\n
\nTenaris sponsors funded and unfunded defined benefit pension plans in certain subsidiaries. The most significant
\nare:
\n
\n\u25aa An unfunded defined benefit employee retirement plan for certain senior officers. The plan is designed to
\nprovide certain benefits to those officers (additional to those contemplated under applicable labor laws) in
\ncase of termination of the employment relationship due to certain specified events, including retirement.
\nThis unfunded plan provides defined benefits based on years of service and final average salary. As of
\nDecember 31, 2023 the outstanding liability for this plan amounts to $48.1 million.
\n
\n\u25aa Employees\u2019 service rescission indemnity. The cost of this obligation is charged to the Consolidated Income
\nStatement over the expected service lives of employees. This provision is primarily related to the liability
\naccrued for employees at Tenaris\u2019s Italian subsidiary. As from January 1, 2007 as a consequence of a change
\nin an Italian law, employees were entitled to make contributions to external funds, thus, Tenaris\u2019s Italian
\nsubsidiary pays every year the required contribution to the funds with no further obligation. As a result, the
\nplan changed from a defined benefit plan to a defined contribution plan effective from that date, but only
\nlimited to the contributions of 2007 onwards. As of December 31, 2023 the outstanding liability for this
\nplan amounts to $10.6 million.
\n
\n\u25aa Funded retirement benefit plan held in the U.S. for the benefit of some employees hired prior a certain
\ndate, frozen for the purposes of credited service as well as determination of final average pay for the
\nretirement benefit calculation. Plan assets consist primarily of investments in equities and money market
\nfunds. Additionally, an unfunded post-retirement health and life plan is in place that offers limited medical
\nand life insurance benefits to the retirees, frozen to new participants. As of December 31, 2023 the
\noutstanding liability for these plans amounts to $5.6 million.
\n
\n\u25aa Funded retirement benefit plans held in Canada for salary and hourly employees hired prior to a certain
\ndate based on years of service and, in the case of salaried employees, final average salary. Plan assets consist
\nprimarily of annuities purchased from an insurance company for the benefit of current and future retirees,
\ninvestments in debt and equity instruments. Both plans were replaced for defined contribution plans.
\nEffective June 2016 the salary plan was frozen for the purposes of credited service as well as determination
\nof final average pay. As of December 31, 2023 the plan was overfunded and the net assets related to this
\nplan amounted to $10.8 million.
\n
\n(3)
\n
\nOther long-term benefits
\n
\nDuring 2007, Tenaris launched an employee retention and long-term incentive program
\n
\n(\u201cthe Program\u201d) applicable
\nto certain senior officers and employees of the Company, who will be granted a number of units throughout the
\nduration of the Program. The value of each of these units is based on Tenaris\u2019s shareholders\u2019 equity (excluding non-
\ncontrolling interest). Until the end of 2017, the units were vested ratably over a period of four years and were
\nmandatorily redeemed by the Company ten years after grant date, with the option of an early redemption at seven
\nyears after the grant date. Since 2018, the units are vested ratably over the same period and are mandatorily
\nredeemed by the Company seven years after grant date.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nThe beneficiaries of the Program are entitled to receive cash amounts based on: (i) the amount of dividend payments
\nmade by Tenaris to its shareholders and (ii) the number of units held by each beneficiary to the Program. The
\npayment of the benefit is tied to the book value of the shares, and not to their market value. Tenaris valued this
\nlong-term incentive program as a long-term benefit plan as classified in IAS 19, \u201cEmployee Benefits\u201d.
\n
\nAs of December 31, 2023 and 2022, the outstanding liability corresponding to the Program amounts to $119.6
\nmillion and $94.4 million, respectively. The total value of the units granted (vested and unvested) to date under the
\nprogram, considering the number of units and the book value per share as of December 31, 2023 and 2022, is
\n$144.0 million and $123.9 million, respectively.
\n
\n\n(4)
\n
\nTermination benefits
\n
\nTermination benefits are payable when employment is terminated by Tenaris before the normal retirement date, or
\nwhen an employee accepts voluntary redundancy in exchange for these benefits. Tenaris recognizes termination
\nbenefits at the earlier of the following dates: (a) when it can no longer withdraw the offer of those benefits; and
\n(b) when the costs for a restructuring that is within the scope of IAS 37 involves the payment of terminations
\nbenefits. In the case of an offer made to encourage voluntary redundancy, the termination benefits are measured
\nbased on the number of employees expected to accept the offer.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n(5)
\n
\nOther compensation obligations
\n
\nEmployee entitlements to annual leave, long-service leave, sick leave and other bonuses and compensations
\nobligations are accrued as earned.
\n
\nCompensation to employees in the event of dismissal is charged to income in the year in which it becomes payable.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag706": {
"value": "\n(4)
\n
\nTermination benefits
\n
\nTermination benefits are payable when employment is terminated by Tenaris before the normal retirement date, or
\nwhen an employee accepts voluntary redundancy in exchange for these benefits. Tenaris recognizes termination
\nbenefits at the earlier of the following dates: (a) when it can no longer withdraw the offer of those benefits; and
\n(b) when the costs for a restructuring that is within the scope of IAS 37 involves the payment of terminations
\nbenefits. In the case of an offer made to encourage voluntary redundancy, the termination benefits are measured
\nbased on the number of employees expected to accept the offer.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTerminationBenefits",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag719": {
"value": "\nQ Provisions
\n
\nTenaris is subject to various claims, lawsuits and other legal proceedings, including customer claims, in which a third
\nparty is seeking payment for alleged damages, reimbursement for losses or indemnity. Tenaris\u2019s potential liability
\nwith respect to such claims, lawsuits and other legal proceedings cannot be estimated with certainty. Management
\nperiodically reviews the status of each significant matter and assesses potential financial exposure. If, as a result of
\npast events, a potential loss from a claim or proceeding is considered probable and the amount can be reliably
\nestimated, a provision is recorded. Accruals for loss contingencies reflect a reasonable estimate of the losses to be
\nincurred based on information available to management as of the date of preparation of the financial statements,
\nand take into consideration Tenaris\u2019s litigation and settlement strategies. These estimates are primarily constructed
\nwith the assistance of legal counsel. As the scope of liabilities become better defined, there may be changes in the
\nestimates of future costs which could have a material adverse effect on its results of operations, financial condition
\nand cash flows.
\n
\nIf Tenaris expects to be reimbursed for an accrued expense, as would be the case for an expense or loss covered
\nunder an insurance contract, and reimbursement is considered virtually certain, the expected reimbursement is
\nrecognized as a receivable.
\n
\nThis note should be read in conjunction with note 27 to these Consolidated Financial Statements.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag727": {
"value": "\nR Trade and other payables
\n
\nTrade and other payables are recognized initially at fair value, generally the nominal invoice amount and
\nsubsequently measured at amortized cost. They are presented as current liabilities unless payment is not due within
\ntwelve months after the reporting period. Due to their short-term nature their carrying amounts are considered to
\nbe the same as their fair value.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag718": {
"value": "\n
\nS Revenue recognition
\n
\nRevenue comprises the fair value of the consideration received or receivable for the sale of goods and rendering of
\nservices in the ordinary course of Tenaris\u2019s activities. The revenue recognized by the Company is measured at the
\ntransaction price of the consideration received or receivable to which the Company is entitled to, reduced by
\nestimated returns and other customer credits, such as discounts and volume rebates, based on the expected value
\nto be realized and after eliminating sales within the group.
\n
\nRevenue is recognized at a point in time or over time from sales when control has been transferred and there is no
\nunfulfilled performance obligation that could affect the acceptance of the product by the customer. The control is
\ntransferred upon delivery. Delivery occurs when the products have been shipped to the specific location, the risks
\nof obsolescence and loss have been transferred and either the customer has accepted the product in accordance
\nwith the sales contract, the acceptance provisions have lapsed or the Company has objective evidence that all criteria
\nfor acceptance have been satisfied, including all performance obligations. These conditions are determined and
\nanalyzed on a contract by contract basis to ensure that all performance obligations are fulfilled. In particular, Tenaris
\nverifies customer acceptance of the goods, the satisfaction of delivery terms and any other applicable condition.
\n
\nFor bill and hold transactions revenue is recognized only to the extent that (a) the reason for the bill and hold
\narrangement must be substantive (for example, the customer has requested the arrangement); (b) the products
\nhave been specifically identified and are ready for delivery; (c) the Company does not have the ability to use the
\nproduct or to direct it to another customer; (d) the usual payment terms apply.
\n
\n\nThe Company\u2019s contracts with customers do not provide any material variable consideration, other than discounts,
\nrebates and right of return. Discounts and rebates are recognized based on the most likely value and rights of return
\nare based on expected value considering past experience and contract conditions.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nWhere the contracts include multiple performance obligations, the transaction price is allocated to each
\nperformance obligation based on the stand-alone selling prices. Where these are not directly observable, they are
\nestimated based on the expected cost plus margin.
\n
\nThere are no judgements applied by management that significantly affect the determination of timing of satisfaction
\nof performance obligations, nor the transaction price and amounts allocated to different performance obligations.
\n
\nTenaris provides services primarily related to goods sold, which represent a non-material portion of sales revenue
\nand mainly include:
\n
\nPipe Management Services:
\nThis comprises mainly preparation of the pipes ready to be run, delivery to the customer,
\nstorage services and rig return.
\n
\n
\nField Services:
\nComprises field technical support and running assistance.
\n
\nThese services are rendered in connection to the sales of goods and are attached to contracts with customers for
\nthe sale of goods. A significant portion of service revenue is recognized in the same period as the goods sold. There
\nare no distinct uncertainties in the revenues and cash flows of the goods sold and services rendered as they are
\nincluded in the same contract, have the same counterparty and are subject to the same conditions.
\n
\nThe Company also provides hydraulic fracturing, coiled tubing and coating services. The revenue related to these
\nservices is included in the Other segment.
\n
\nRevenue from providing services is recognized over time in the accounting period in which the services are rendered.
\n
\nThe following inputs and outputs methods are applied to recognize revenue considering the nature of service:
\n
\nStorage services:
\n the Company provides storage services in owned or third-party warehouses, subject to a variable
\nfee to be invoiced. This fee is determined based on the time that the customer maintains the material in the
\nwarehouse and the amount of the material stored. In the majority of cases, to quantify the amount to be invoiced
\nin any given month, the monthly average fee of storage per ton is multiplied by the monthly average stock stored
\n(in tons).
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nFreights:
\nthe revenue is recognized on a pro rata basis considering the units delivered and time elapsed.
\n
\nField services:
\n the revenue is recognized considering output methods, in particular surveys of service completion
\nprovided by the customer.
\n
\nThe Company does not expect to have any contracts where the period between the transfer of the promised goods
\nor services to the customer and payment by the customer exceeds one year. As a consequence, considering that
\nthe contracts do not include any significant financing component, the Company does not adjust any of the
\ntransaction prices for the time value of money. For this reason, the Company is also applying the practical expedient
\nnot to disclose details on transaction prices allocated to the remaining performance obligations as of the end of the
\nreporting period.
\n
\nTenaris only provides standard quality warranties assuring that the goods sold will function as expected or are fit
\nfor their intended purpose, with no incremental service to the customer. Accordingly, warranties do not constitute
\na separate performance obligation.
\n
\n\nOther revenues earned by Tenaris are recognized on the following basis:
\n
\n\u25aa Interest income: on the effective yield basis.
\n\u25aa Dividend income from investments in other companies: when Tenaris\u2019s right to receive payment is
\nestablished.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\u25aa Net income from other sales: when control is transferred to the customer.
\n\u25aa Construction / coating contracts revenues: in accordance with the stage of the project completion.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag726": {
"value": "\nThe Company\u2019s contracts with customers do not provide any material variable consideration, other than discounts,
\nrebates and right of return. Discounts and rebates are recognized based on the most likely value and rights of return
\nare based on expected value considering past experience and contract conditions.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDiscountsAndRebatesExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag742": {
"value": "\nT Cost of sales and other selling expenses
\n
\nCost of sales and other selling expenses are recognized in the Consolidated Income Statement on the accrual basis
\nof accounting.
\n
\nCommissions, freights and other selling expenses, including shipping and handling costs, are recorded in
\nSelling,
\ngeneral and administrative expenses
\nin the Consolidated Income Statement.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag708": {
"value": "\n
\nU Earnings per share
\n
\nEarnings per share are calculated by dividing the income attributable to the shareholders\u2019 equity by the monthly
\nweighted average number of common shares outstanding during the period.
\n
\nThere are no dilutive potential ordinary shares.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag717": {
"value": "\n
\nV Financial instruments
\n
\nNon-derivative financial instruments comprise investments in financial debt instruments and equity, time deposits,
\ntrade and other receivables, cash and cash equivalents, borrowings and trade and other payables.
\n
\nThe Company classifies its financial instruments according to the following measurement categories:
\n
\n\u25aa those to be measured subsequently at fair value (either through OCI or through profit or loss), and
\n\u25aa those to be measured at amortised cost.
\n
\nThe classification depends on the Company\u2019s business model for managing the financial assets and contractual
\nterms of the cash flows.
\n
\n\nFinancial assets are recognized on their settlement date. Financial assets are derecognized when the rights to receive
\ncash flows from the financial assets have expired or have been transferred and the Company has transferred
\nsubstantially all the risks and rewards of ownership.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n
\nAt initial recognition, the Company measures a financial asset at its fair value plus, in the case of a financial asset
\nnot at fair value through profit or loss, transaction costs that are directly attributable to the acquisition of the
\nfinancial asset. Transaction costs of financial assets carried at fair value through profit or loss are expenses in profit
\nor loss.
\n
\nSubsequent measurement of debt instruments depends on the Company\u2019s business model for managing the asset
\nand the cash flow characteristics of the asset. There are three measurement categories into which the Company
\nclassifies its debt instruments:
\n
\nAmortized Cost
\n: Assets that are held for collection of contractual cash flows where those cash flows represent solely
\npayments of principal and interest. Interest income from these financial assets is included in finance income using
\nthe effective interest rate method.
\n
\n\n
\n\nExchange gains and losses and impairments related to the financial assets are immediately recognized in the
\nConsolidated Income Statement.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nFair value through other comprehensive income
\n: Assets that are held for collection of contractual cash flows and
\nfor selling the financial assets, where the assets\u2019 cash flows represent solely payments of principal and interest.
\nInterest income from these financial assets is included in finance income using the effective interest rate method.
\nUnrealized gains or losses are recorded as a fair value adjustment in the Consolidated Statement of Comprehensive
\nIncome and transferred to the Consolidated Income Statement when the financial asset is sold.
\n
\n\nFair value through profit and loss
\n: Assets that do not meet the criteria for amortized cost or FVOCI. Changes in fair
\nvalue of financial instruments at FVPL are immediately recognized in the Consolidated Income Statement.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nEquity instruments are subsequently measured at fair value.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nAccounting for derivative financial instruments and hedging activities is included within the section III, Financial Risk
\nManagement.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag743": {
"value": "\nFinancial assets are recognized on their settlement date. Financial assets are derecognized when the rights to receive
\ncash flows from the financial assets have expired or have been transferred and the Company has transferred
\nsubstantially all the risks and rewards of ownership.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag728": {
"value": "\n
\n
\nAt initial recognition, the Company measures a financial asset at its fair value plus, in the case of a financial asset
\nnot at fair value through profit or loss, transaction costs that are directly attributable to the acquisition of the
\nfinancial asset. Transaction costs of financial assets carried at fair value through profit or loss are expenses in profit
\nor loss.
\n
\nSubsequent measurement of debt instruments depends on the Company\u2019s business model for managing the asset
\nand the cash flow characteristics of the asset. There are three measurement categories into which the Company
\nclassifies its debt instruments:
\n
\nAmortized Cost
\n: Assets that are held for collection of contractual cash flows where those cash flows represent solely
\npayments of principal and interest. Interest income from these financial assets is included in finance income using
\nthe effective interest rate method.
\n
\n\n
\n\nExchange gains and losses and impairments related to the financial assets are immediately recognized in the
\nConsolidated Income Statement.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nFair value through other comprehensive income
\n: Assets that are held for collection of contractual cash flows and
\nfor selling the financial assets, where the assets\u2019 cash flows represent solely payments of principal and interest.
\nInterest income from these financial assets is included in finance income using the effective interest rate method.
\nUnrealized gains or losses are recorded as a fair value adjustment in the Consolidated Statement of Comprehensive
\nIncome and transferred to the Consolidated Income Statement when the financial asset is sold.
\n
\n\nFair value through profit and loss
\n: Assets that do not meet the criteria for amortized cost or FVOCI. Changes in fair
\nvalue of financial instruments at FVPL are immediately recognized in the Consolidated Income Statement.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nEquity instruments are subsequently measured at fair value.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag735": {
"value": "\n
\n
\nIII. FINANCIAL RISK MANAGEMENT
\n
\n
\nThe multinational nature of Tenaris\u2019s operations and customer base exposes the Company to a variety of risks,
\nmainly related to market risks (including the effects of changes in foreign currency exchange rates and interest
\nrates), credit risk and capital market risk. In order to manage the volatility related to these exposures, management
\nevaluates exposures on a consolidated basis, taking advantage of exposure netting. The Company or its subsidiaries
\nmay then enter into various derivative transactions in order to prevent potential adverse impacts on Tenaris\u2019s
\nfinancial performance. Such derivative transactions are executed in accordance with internal policies and hedging
\npractices.
\n
\n
\nA. Financial risk factors
\n
\n\n(i) Capital risk management
\n
\nTenaris seeks to maintain a low debt to total equity ratio considering the industry and the markets where it operates.
\nThe year-end ratio of debt to total equity (where \u201cdebt\u201d comprises financial borrowings and \u201ctotal equity\u201d is the
\nsum of financial borrowings and equity) is 0.03 as of December 31, 2023 and 0.05 as of December 31, 2022. The
\nCompany does not have to comply with regulatory capital adequacy requirements.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n (ii) Foreign exchange risk
\n
\nTenaris manufactures and sells its products in a number of countries throughout the world and consequently is
\nexposed to foreign exchange rate risk. Since the Company\u2019s functional currency is the U.S. dollar the purpose of
\nTenaris\u2019s foreign currency hedging program is mainly to reduce the risk caused by changes in the exchange rates of
\nother currencies against the U.S. dollar.
\n
\nTenaris\u2019s exposure to currency fluctuations is reviewed on a periodic and consolidated basis. A number of derivative
\ntransactions are performed in order to achieve an efficient coverage in the absence of operative or natural hedges.
\nAlmost all of these transactions are forward exchange rates contracts. See note 26 to these Consolidated Financial
\nStatements.
\n
\nTenaris does not enter into derivative financial instruments for trading or other speculative purposes, other than
\nnon-material investments in structured products.
\n
\nIn the case of subsidiaries with functional currencies other than the U.S. dollar, the results of hedging activities,
\nreported in accordance with IFRS, may not reflect entirely the management\u2019s assessment of its foreign exchange
\nrisk hedging program. Intercompany balances between Tenaris\u2019s subsidiaries may generate financial gains (losses)
\nto the extent that functional currencies differ.
\n
\nThe value of Tenaris\u2019s financial assets and liabilities is subject to changes arising from the variation of foreign
\ncurrency exchange rates. The following table provides a breakdown of Tenaris\u2019s main financial assets and liabilities
\n(including foreign exchange derivative contracts) which impact the Company\u2019s profit and loss as of December 31,
\n2023 and 2022.
\n
\n
\n\n
\n\n\n| All amounts Long / (Short) in thousands of U.S. dollars | \nAs of December 31, | \n\n\n\n\n\n\n\n\n\n
\n\n| Currency Exposure / Functional currency | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n
\n\n| Argentine Peso / U.S. dollar | \n(134,716) | \n(126,739) | \n\n\n\n\n\n\n\n\n\n
\n\n| Euro / U.S. dollar | \n(203,608) | \n(42,458) | \n\n\n\n\n\n\n\n\n\n
\n\n| Saudi Arabian Riyal / U.S. dollar | \n(181,931) | \n(74,183) | \n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n
\nThe main relevant exposures correspond to:
\n
\n\u25aa Argentine Peso / U.S. dollar
\n
\nAs of December 31, 2023 and 2022 consisting primarily of Argentine Peso-denominated financial, trade, social and
\nfiscal payables at certain Argentine subsidiaries whose functional currency is the U.S. dollar. A change of 1% in the
\nARS/USD exchange rate would have generated a pre-tax gain / loss of $1.3 million and $1.3 million as of December
\n31, 2023 and 2022 respectively.
\n
\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n\n\u25aa Euro / U.S. dollar
\n
\nAs of December 31, 2023 and 2022 consisting primarily of Euro-denominated intercompany liabilities at certain
\nsubsidiaries whose functional currency is the U.S. dollar. A change of 1% in the EUR/USD exchange rate would
\nhave generated a pre-tax gain / loss of $2.0 million and $0.4 million as of December 31, 2023 and 2022,
\nrespectively, which would have been to a large extent offset by changes in currency translation adjustment
\nincluded in Tenaris\u2019s net equity position.
\n
\n\u25aa Saudi Arabian Riyal / U. S. dollar
\n
\nAs of December 31, 2023 and 2022 consisting primarily of Saudi Arabian Riyal-denominated financial and trade
\npayables. The Saudi Arabian Riyal is tied to the U.S. dollar.
\n
\nConsidering the balances held as of December 31, 2023 on financial assets and liabilities exposed to foreign
\nexchange rate fluctuations, Tenaris estimates that the impact of a simultaneous 1% favorable / unfavorable
\nmovement in the levels of foreign currencies exchange rates relative to the U.S. dollar, would be a pre-tax gain /
\nloss of $6.7 million (including a loss / gain of $2.3 million due to foreign exchange derivative contracts), which
\nwould be partially offset by changes to Tenaris\u2019s net equity position of $1.1 million. For balances held as of
\nDecember 31, 2022, a simultaneous 1% favorable / unfavorable movement in the foreign currencies exchange
\nrates relative to the U.S. dollar, would have generated a pre-tax gain / loss of $4.0 million (including a loss / gain
\nof $0.2 million due to foreign exchange derivative contracts), which would have been partially offset by changes
\nto Tenaris\u2019s net equity position of $0.9 million.
\n
\nTenaris based its foreign exchange sensitivity analysis on a 1% variance for information purposes only, enabling the
\nanalysis to any particular variance.
\n
\n\n\n\n\n\n\n\n\n
\n(iii) Interest rate risk
\n
\nTenaris is subject to interest rate risk on its investment portfolio and its debt. The Company uses a mix of variable
\nand fixed rate debt in combination with its investment portfolio strategy. The Company may choose to enter into
\nforeign exchange derivative contracts and / or interest rate swaps to mitigate the exposure to changes in the
\ninterest rates.
\n
\nThe following table summarizes the proportions of variable-rate and fixed-rate debt as of each year end.
\n
\n
\n\n
\n\n\n | \n | \nAs of December 31, | \n | \n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n | \n2022 | \n | \n\n\n\n\n\n\n\n\n\n
\n\n | \nIn thousands of U.S. dollars | \n% | \nIn thousands of U.S. dollars | \n% | \n\n\n\n\n\n\n\n\n\n
\n\n| Fixed rate (*) | \n294,946 | \n51% | \n497,889 | \n68% | \n\n\n\n\n\n\n\n\n\n
\n\n| Variable rate | \n288,491 | \n49% | \n230,873 | \n32% | \n\n\n\n\n\n\n\n\n\n
\n\n| Total | \n583,437 | \n | \n728,762 | \n | \n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n(*)
\n Out of the $294.9 million fixed rate borrowings, $271.1 million are short-term.
\n
\nThe Company estimates that, if market interest rates applicable to Tenaris\u2019s borrowings had been 100 basis points
\nhigher, then the additional pre-tax loss would have been $6.4 million in 2023 and $5.3 million in 2022.
\n
\nTenaris based its interest rate sensitivity analysis on a 100 basis points variance for information purposes only,
\nenabling the analysis to any particular variance.
\n
\n\n(iv) Credit risk
\n
\nCredit risk arises from cash and cash equivalents, deposits with banks and financial institutions, as well as credit
\nexposures to customers, including outstanding receivables and committed transactions. The Company also actively
\nmonitors the creditworthiness of its treasury, derivative and insurance counterparties in order to minimize its credit
\nrisk.
\n
\nNo single customer comprised more than 10% of Tenaris\u2019s net sales in 2023, 2022 and 2021.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\nTenaris maintains a strong, longstanding relationship with Petr\u00f3leos Mexicanos (\u201cPemex\u201d), one of the world\u2019s
\nlargest crude oil and condensates producers and one of its largest customers. Over the past several months, Pemex
\nhas delayed payments beyond the agreed-upon due dates, resulting in Tenaris having a significant credit exposure
\nto Pemex, which represented approximately 20% of the Company\u2019s overall credit exposure as of December 31,
\n2023. The Company has not historically had any material write-offs due to uncollectible accounts receivable relating
\nto this customer. Although the parties are in continuous conversations and Pemex is making partial payments on a
\nperiodic basis, at this stage the Company cannot predict whether or not its exposure to Pemex will be reduced, or
\nthe timing for any such reduction.
\n
\nTenaris\u2019s credit policies related to sales of products and services are designed to identify customers with acceptable
\ncredit history and to allow Tenaris to require the use of credit insurance, letters of credit and other instruments
\ndesigned to minimize credit risks whenever deemed necessary. Tenaris maintains allowances for impairment for
\npotential credit losses. See section II.K.
\n
\nAs of December 31, 2023, trade receivables amounted to $2,480.9 million. Trade receivables had guarantees under
\ncredit insurance of $212.7 million, letter of credit and other bank guarantees of $48.4 million. Overdue trade
\nreceivables amounted to $679.6 million, overdue guaranteed trade receivables amounted to $24.4 million; and the
\nallowance for doubtful accounts amounted to $49.0 million.
\n
\nAs of December 31, 2022, trade receivables amounted to $2,493.9 million. Trade receivables had guarantees under
\ncredit insurance of $231.2 million, letter of credit and other bank guarantees of $34.7 million. Overdue trade
\nreceivables amounted to $544.9 million, overdue guaranteed trade receivables amounted to $28.1 million; and the
\nallowance for doubtful accounts amounted to $45.5 million.
\n
\nManagement believes that both the allowance for doubtful accounts and the existing guarantees are sufficient to
\ncover doubtful trade receivables.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n(v) Counterparty risk
\n
\nTenaris has investment guidelines with specific parameters to limit issuer risk on marketable securities.
\nCounterparties for derivatives and cash transactions are limited to high credit quality financial institutions, normally
\ninvestment grade.
\n
\nApproximately 91% of Tenaris\u2019s liquid financial assets corresponded to Investment Grade-rated instruments as of
\nDecember 31, 2023, in comparison with approximately 80% as of December 31, 2022.
\n
\n\n(vi) Liquidity risk
\n
\nTenaris\u2019s financing strategy aims to maintain adequate financial resources and access to additional liquidity. During
\n2023, Tenaris has counted on cash flows from operations as well as additional bank financing to fund its
\ntransactions.
\n
\nManagement maintains sufficient cash and marketable securities to finance normal operations and believes that
\nTenaris also has appropriate access to market for short-term working capital needs.
\n
\nLiquid financial assets as a whole (comprising cash and cash equivalents and other investments) were 19% and 9%
\nof total assets at the end of 2023 and 2022, respectively.
\n
\nTenaris has a conservative approach to the management of its liquidity, which consists of i) cash and cash
\nequivalents (cash in banks, liquidity funds and investments with a maturity of less than three months at the date of
\npurchase), and ii) other investments (fixed income securities, time deposits, and fund investments).
\n
\nTenaris holds primarily investments in money market funds and variable or fixed-rate securities from investment
\ngrade issuers.
\n
\nTenaris holds its investments primarily in U.S. dollars. As of December 31, 2023 and 2022, U.S. dollar denominated
\nliquid assets plus investments denominated in other currencies hedged to the U.S. dollar represented approximately
\n94% and 87% of total liquid financial assets, respectively.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n(vii) Commodity price risk
\n
\nIn the ordinary course of its operations, Tenaris purchases commodities and raw materials that are subject to price
\nvolatility caused by supply conditions, political and economic variables and other factors. As a consequence, Tenaris
\nis exposed to risk resulting from fluctuations in the prices of these commodities and raw materials. Tenaris fixes the
\nprices of such raw materials and commodities for short-term periods, typically not in excess of one year, and in
\ngeneral hedging for these risks is performed on a limited basis.
\n
\n
\n\n
\n\n
\n\n
\n\n
\n\n\n\nB. Category of financial instruments and classification within the fair value hierarchy
\n
\nAs mentioned in note II.V, the Company classifies its financial instruments in the following measurement categories:
\namortized cost, fair value through other comprehensive income and fair value through profit and loss. For financial
\ninstruments that are measured in the statement of financial position at fair value, IFRS 13, \u201cFair value measurement\u201d
\nrequires a disclosure of fair value measurements by level according to the following fair value measurement
\nhierarchy:
\n
\nLevel 1:
\n Quoted prices (unadjusted) in active markets for identical assets or liabilities.
\n
\nLevel 2:
\n Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either
\ndirectly (that is, as prices) or indirectly (that is, derived from prices).
\n
\nLevel 3:
\n Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs).
\n\n\n
\nThe following tables present the financial instruments by category and levels as of December 31, 2023 and 2022.
\n
\n
\n
\n\n
\n\n\n | \nCarrying | \nMeasurement Categories | \n | \nAt Fair Value | \n | \n\n\n\n\n\n\n\n
\n\n| December 31, 2023 | \namount | \nAmortized | \nFVOCI | \nFVPL | \nLevel 1 | \nLevel 2 | \nLevel 3 | \n\n\n\n\n\n\n\n
\n\n | \n | \nCost | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n
\n\n| Assets | \n | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n
\n\n| Cash and cash equivalents | \n1,637,821 | \n1,414,397 | \n - | \n223,424 | \n223,424 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other investments | \n1,969,631 | \n896,166 | \n834,281 | \n239,184 | \n1,073,465 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Fixed income (time-deposit, zero | \n | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n
\n\n| coupon bonds, commercial papers) | \n896,166 | \n896,166 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| U.S. Sovereign Bills | \n282,225 | \n282,225 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Certificates of deposits | \n334,637 | \n334,637 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Commercial papers | \n196,708 | \n196,708 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other notes | \n82,596 | \n82,596 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Bonds and other fixed income | \n834,281 | \n - | \n834,281 | \n - | \n834,281 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| U.S. government securities | \n126,399 | \n - | \n126,399 | \n - | \n126,399 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Non-U.S. government securities | \n10,943 | \n - | \n10,943 | \n - | \n10,943 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Corporates securities | \n696,939 | \n - | \n696,939 | \n | \n696,939 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Mutual Fund | \n239,184 | \n - | \n - | \n239,184 | \n239,184 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Derivative financial instruments | \n9,801 | \n - | \n - | \n9,801 | \n - | \n9,801 | \n - | \n\n\n\n\n\n\n\n
\n\n| Other Investments Non-current | \n405,631 | \n - | \n398,220 | \n7,411 | \n398,220 | \n - | \n7,411 | \n\n\n\n\n\n\n\n
\n\n| Bonds and other fixed income | \n398,220 | \n - | \n398,220 | \n - | \n398,220 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other investments | \n7,411 | \n - | \n - | \n7,411 | \n - | \n - | \n7,411 | \n\n\n\n\n\n\n\n
\n\n| Trade receivables | \n2,480,889 | \n2,480,889 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Receivables C and NC | \n414,778 | \n93,144 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other receivables | \n93,144 | \n93,144 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other receivables (non-financial) | \n321,634 | \n - | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Total | \n | \n4,884,596 | \n1,232,501 | \n479,820 | \n1,695,109 | \n9,801 | \n7,411 | \n\n\n\n\n\n\n\n
\n\n| Liabilities | \n | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n
\n\n| Borrowings C and NC | \n583,437 | \n583,437 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other liabilities C and NC (*) | \n693,913 | \n- | \n- | \n86,240 | \n- | \n- | \n86,240 | \n\n\n\n\n\n\n\n
\n\n| Other liabilities | \n86,240 | \n- | \n- | \n86,240 | \n- | \n- | \n86,240 | \n\n\n\n\n\n\n\n
\n\n| Other liabilities (non-financial) | \n607,673 | \n- | \n- | \n- | \n- | \n- | \n- | \n\n\n\n\n\n\n\n
\n\n| Trade payables | \n1,107,567 | \n1,107,567 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Lease Liabilities C and NC | \n134,433 | \n134,433 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Derivative financial instruments | \n11,150 | \n - | \n - | \n11,150 | \n - | \n11,150 | \n - | \n\n\n\n\n\n\n\n
\n\n| Total | \n | \n1,825,437 | \n - | \n97,390 | \n - | \n11,150 | \n86,240 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(*)
\n Includes liability related to share buyback program. See note 37 to these Consolidated Financial Statements.
\n
\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n\n
\n\n
\n
\n
\n
\n
\n
\n\n
\n\n\n | \nCarrying | \nMeasurement Categories | \n | \n | \nAt Fair Value | \n | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| December 31, 2022 | \namount | \nAmortized | \nFVOCI | \nFVPL | \nLevel 1 | \nLevel 2 | \nLevel 3 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \nCost | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Assets | \n | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cash and cash equivalents | \n1,091,527 | \n668,668 | \n - | \n422,859 | \n422,859 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other investments | \n438,448 | \n196,152 | \n182,988 | \n59,308 | \n242,296 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Fixed income (time-deposit, zero | \n | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| coupon bonds, commercial papers) | \n196,152 | \n196,152 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Certificates of deposits | \n36,167 | \n36,167 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Commercial papers | \n19,785 | \n19,785 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other notes | \n140,200 | \n140,200 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Bonds and other fixed income | \n211,953 | \n - | \n182,988 | \n28,965 | \n211,953 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Non-U.S. government securities | \n108,310 | \n - | \n79,345 | \n28,965 | \n108,310 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Corporates securities | \n103,643 | \n - | \n103,643 | \n - | \n103,643 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Mutual Fund | \n30,343 | \n - | \n - | \n30,343 | \n30,343 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Derivative financial instruments | \n30,805 | \n - | \n - | \n30,805 | \n - | \n30,805 | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other Investments Non-current | \n119,902 | \n - | \n113,574 | \n6,328 | \n113,574 | \n - | \n6,328 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Bonds and other fixed income | \n113,574 | \n - | \n113,574 | \n - | \n113,574 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other investments | \n6,328 | \n - | \n - | \n6,328 | \n - | \n - | \n6,328 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Trade receivables | \n2,493,940 | \n2,493,940 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Receivables C and NC (*) | \n395,531 | \n105,397 | \n48,659 | \n - | \n - | \n - | \n48,659 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other receivables | \n154,056 | \n105,397 | \n48,659 | \n - | \n - | \n - | \n48,659 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other receivables (non-financial) | \n241,475 | \n - | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total | \n | \n3,464,157 | \n345,221 | \n519,300 | \n778,729 | \n30,805 | \n54,987 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Liabilities | \n | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Borrowings C and NC | \n728,762 | \n728,762 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Trade payables | \n1,179,457 | \n1,179,457 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Lease Liabilities C and NC | \n112,177 | \n112,177 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Derivative financial instruments | \n7,127 | \n - | \n - | \n7,127 | \n - | \n7,127 | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total | \n | \n2,020,396 | \n - | \n7,127 | \n - | \n7,127 | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(*)
\n Includes balances related to interest in Venezuelan companies. See note 35 to these Consolidated Financial Statements.
\n
\nThere were no transfers between levels during the year.
\n
\n
\n\nThe fair value of financial instruments traded in active markets is based on quoted market prices at the reporting
\ndate. A market is regarded as active if quoted prices are readily and regularly available from an exchange, dealer,
\nbroker, industry group, pricing service, or regulatory agency, and those prices represent actual and regularly
\noccurring market transactions on an arm\u2019s length basis. The quoted market price used for financial assets held by
\nTenaris is the current bid price. These instruments are included in Level 1 and comprise primarily corporate and
\nsovereign debt securities.
\n
\nThe fair value of financial instruments that are not traded in an active market (such as certain debt securities,
\ncertificates of deposits with original maturity of more than three months, forward and interest rate derivative
\ninstruments) is determined by using valuation techniques which maximize the use of observable market data when
\navailable and rely as little as possible on entity specific estimates. If all significant inputs required to value an
\ninstrument are observable, the instrument is included in Level 2. Tenaris values its assets and liabilities included in
\nthis level using bid prices, interest rate curves, broker quotations, current exchange rates, forward rates and implied
\nvolatilities obtained from market contributors as of the valuation date.
\n
\nIf one or more of the significant inputs are not based on observable market data, the instruments are included in
\nLevel 3. Tenaris values its assets and liabilities in this level using observable market inputs and management
\nassumptions which reflect the Company\u2019s best estimate on how market participants would price the asset or liability
\nat measurement date. Main balances in this level include a liability related to the shares to be settled under the
\nshare buyback program recognized during the period. For more information see note 37.
\n
\n\n\n\n\n
\nThe following table presents the changes in Level 3 assets:
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the beginning of the year | \n54,987 | \n56,294 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Decrease (*) | \n(47,467) | \n(1,126) | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Currency translation adjustment and others | \n(109) | \n(181) | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the end of the year | \n7,411 | \n54,987 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n(*)
\n For 2023, related to the sale of Venezuela awards. For more information see notes 6 and 35.
\n
\n\n\n\n\n\n
\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n
\n
\nC. Fair value estimation
\n
\n\nFinancial assets or liabilities classified at fair value through profit or loss are measured under the framework
\nestablished by the IASB accounting guidance for fair value measurements and disclosures.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nThe fair values of quoted investments are generally based on current bid prices. If the market for a financial asset is
\nnot active or no market is available, fair values are established using standard valuation techniques.
\n
\nThe fair value of all outstanding derivatives is determined using specific pricing models that include inputs that are
\nobservable in the market or can be derived from or corroborated by observable data. The fair value of forward
\nforeign exchange contracts is calculated as the net present value of the estimated future cash flows in each currency,
\nbased on observable yield curves, converted into U.S. dollars at the spot rate of the valuation date.
\n
\n\nBorrowings are classified under other financial liabilities and measured at their amortized cost. Tenaris estimates
\nthat the fair value of its main financial liabilities is approximately 99.8% and 99.2% of its carrying amount (including
\ninterests accrued) in 2023 and 2022 respectively. Fair values were calculated using standard valuation techniques
\nfor floating rate instruments and comparable market rates for discounting cash flows.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nThe carrying amount of investments valuated at amortized cost approximates its fair value.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n
\n\n
\n\nD. Accounting for derivative financial instruments and hedging activities
\n
\nDerivative financial instruments are initially recognized in the statement of financial position at fair value through
\nprofit and loss on each date a derivative contract is entered into and are subsequently remeasured at fair value.
\nSpecific tools are used for calculation of each instrument\u2019s fair value and these tools are tested for consistency on
\na monthly basis. Market rates are used for all pricing operations. These include exchange rates, deposit rates and
\nother discount rates matching the nature of each underlying risk.
\n
\nAs a general rule, Tenaris recognizes the full amount related to the change in fair value of derivative financial
\ninstruments in
\nFinancial Results
\n in the Consolidated Income Statement.
\n
\nTenaris designates certain derivatives as hedges of particular risks associated with recognized assets or liabilities or
\nhighly probable forecast transactions. These transactions are classified as cash flow hedges. The effective portion of
\nthe fair value of derivatives that are designated and qualify as cash flow hedges is recognized in equity. Amounts
\naccumulated in equity are then recognized in the income statement in the same period as the offsetting losses and
\ngains on the hedged item. The gain or loss relating to the ineffective portion is recognized immediately in the
\nincome statement. The fair value of Tenaris\u2019s derivative financial instruments (assets or liabilities) continues to be
\nreflected in the statement of financial position.
\n
\nFor transactions designated and qualifying for hedge accounting, Tenaris documents at the inception of the
\ntransaction the relationship between hedging instruments and hedged items, as well as its risk management
\nobjectives and strategy for undertaking various hedge transactions. Tenaris also documents its assessment on an
\nongoing basis, of whether the hedging instruments are highly effective in offsetting changes in the fair value or
\ncash flow of hedged items. At December 31, 2023 and 2022, the effective portion of designated cash flow hedges
\nwhich is included in
\nOther Reserves
\n in equity amounted to $8.1 million credit and $13.1 million credit respectively.
\n
\nThe fair values of various derivative instruments used for hedging purposes and the movements of the hedging
\nreserve included within
\nOther Reserves
\n in equity are disclosed in note 26 to these Consolidated Financial Statements.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag745": {
"value": "\n(i) Capital risk management
\n
\nTenaris seeks to maintain a low debt to total equity ratio considering the industry and the markets where it operates.
\nThe year-end ratio of debt to total equity (where \u201cdebt\u201d comprises financial borrowings and \u201ctotal equity\u201d is the
\nsum of financial borrowings and equity) is 0.03 as of December 31, 2023 and 0.05 as of December 31, 2022. The
\nCompany does not have to comply with regulatory capital adequacy requirements.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag746": {
"value": "\n (ii) Foreign exchange risk
\n
\nTenaris manufactures and sells its products in a number of countries throughout the world and consequently is
\nexposed to foreign exchange rate risk. Since the Company\u2019s functional currency is the U.S. dollar the purpose of
\nTenaris\u2019s foreign currency hedging program is mainly to reduce the risk caused by changes in the exchange rates of
\nother currencies against the U.S. dollar.
\n
\nTenaris\u2019s exposure to currency fluctuations is reviewed on a periodic and consolidated basis. A number of derivative
\ntransactions are performed in order to achieve an efficient coverage in the absence of operative or natural hedges.
\nAlmost all of these transactions are forward exchange rates contracts. See note 26 to these Consolidated Financial
\nStatements.
\n
\nTenaris does not enter into derivative financial instruments for trading or other speculative purposes, other than
\nnon-material investments in structured products.
\n
\nIn the case of subsidiaries with functional currencies other than the U.S. dollar, the results of hedging activities,
\nreported in accordance with IFRS, may not reflect entirely the management\u2019s assessment of its foreign exchange
\nrisk hedging program. Intercompany balances between Tenaris\u2019s subsidiaries may generate financial gains (losses)
\nto the extent that functional currencies differ.
\n
\nThe value of Tenaris\u2019s financial assets and liabilities is subject to changes arising from the variation of foreign
\ncurrency exchange rates. The following table provides a breakdown of Tenaris\u2019s main financial assets and liabilities
\n(including foreign exchange derivative contracts) which impact the Company\u2019s profit and loss as of December 31,
\n2023 and 2022.
\n
\n
\n\n
\n\n\n| All amounts Long / (Short) in thousands of U.S. dollars | \nAs of December 31, | \n\n\n\n\n\n\n\n\n\n
\n\n| Currency Exposure / Functional currency | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n
\n\n| Argentine Peso / U.S. dollar | \n(134,716) | \n(126,739) | \n\n\n\n\n\n\n\n\n\n
\n\n| Euro / U.S. dollar | \n(203,608) | \n(42,458) | \n\n\n\n\n\n\n\n\n\n
\n\n| Saudi Arabian Riyal / U.S. dollar | \n(181,931) | \n(74,183) | \n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n
\nThe main relevant exposures correspond to:
\n
\n\u25aa Argentine Peso / U.S. dollar
\n
\nAs of December 31, 2023 and 2022 consisting primarily of Argentine Peso-denominated financial, trade, social and
\nfiscal payables at certain Argentine subsidiaries whose functional currency is the U.S. dollar. A change of 1% in the
\nARS/USD exchange rate would have generated a pre-tax gain / loss of $1.3 million and $1.3 million as of December
\n31, 2023 and 2022 respectively.
\n
\n\n\n\n\n\n\n\n\n\u25aa Euro / U.S. dollar
\n
\nAs of December 31, 2023 and 2022 consisting primarily of Euro-denominated intercompany liabilities at certain
\nsubsidiaries whose functional currency is the U.S. dollar. A change of 1% in the EUR/USD exchange rate would
\nhave generated a pre-tax gain / loss of $2.0 million and $0.4 million as of December 31, 2023 and 2022,
\nrespectively, which would have been to a large extent offset by changes in currency translation adjustment
\nincluded in Tenaris\u2019s net equity position.
\n
\n\u25aa Saudi Arabian Riyal / U. S. dollar
\n
\nAs of December 31, 2023 and 2022 consisting primarily of Saudi Arabian Riyal-denominated financial and trade
\npayables. The Saudi Arabian Riyal is tied to the U.S. dollar.
\n
\nConsidering the balances held as of December 31, 2023 on financial assets and liabilities exposed to foreign
\nexchange rate fluctuations, Tenaris estimates that the impact of a simultaneous 1% favorable / unfavorable
\nmovement in the levels of foreign currencies exchange rates relative to the U.S. dollar, would be a pre-tax gain /
\nloss of $6.7 million (including a loss / gain of $2.3 million due to foreign exchange derivative contracts), which
\nwould be partially offset by changes to Tenaris\u2019s net equity position of $1.1 million. For balances held as of
\nDecember 31, 2022, a simultaneous 1% favorable / unfavorable movement in the foreign currencies exchange
\nrates relative to the U.S. dollar, would have generated a pre-tax gain / loss of $4.0 million (including a loss / gain
\nof $0.2 million due to foreign exchange derivative contracts), which would have been partially offset by changes
\nto Tenaris\u2019s net equity position of $0.9 million.
\n
\nTenaris based its foreign exchange sensitivity analysis on a 1% variance for information purposes only, enabling the
\nanalysis to any particular variance.
\n
\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag711": {
"value": "\n(iv) Credit risk
\n
\nCredit risk arises from cash and cash equivalents, deposits with banks and financial institutions, as well as credit
\nexposures to customers, including outstanding receivables and committed transactions. The Company also actively
\nmonitors the creditworthiness of its treasury, derivative and insurance counterparties in order to minimize its credit
\nrisk.
\n
\nNo single customer comprised more than 10% of Tenaris\u2019s net sales in 2023, 2022 and 2021.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nTenaris maintains a strong, longstanding relationship with Petr\u00f3leos Mexicanos (\u201cPemex\u201d), one of the world\u2019s
\nlargest crude oil and condensates producers and one of its largest customers. Over the past several months, Pemex
\nhas delayed payments beyond the agreed-upon due dates, resulting in Tenaris having a significant credit exposure
\nto Pemex, which represented approximately 20% of the Company\u2019s overall credit exposure as of December 31,
\n2023. The Company has not historically had any material write-offs due to uncollectible accounts receivable relating
\nto this customer. Although the parties are in continuous conversations and Pemex is making partial payments on a
\nperiodic basis, at this stage the Company cannot predict whether or not its exposure to Pemex will be reduced, or
\nthe timing for any such reduction.
\n
\nTenaris\u2019s credit policies related to sales of products and services are designed to identify customers with acceptable
\ncredit history and to allow Tenaris to require the use of credit insurance, letters of credit and other instruments
\ndesigned to minimize credit risks whenever deemed necessary. Tenaris maintains allowances for impairment for
\npotential credit losses. See section II.K.
\n
\nAs of December 31, 2023, trade receivables amounted to $2,480.9 million. Trade receivables had guarantees under
\ncredit insurance of $212.7 million, letter of credit and other bank guarantees of $48.4 million. Overdue trade
\nreceivables amounted to $679.6 million, overdue guaranteed trade receivables amounted to $24.4 million; and the
\nallowance for doubtful accounts amounted to $49.0 million.
\n
\nAs of December 31, 2022, trade receivables amounted to $2,493.9 million. Trade receivables had guarantees under
\ncredit insurance of $231.2 million, letter of credit and other bank guarantees of $34.7 million. Overdue trade
\nreceivables amounted to $544.9 million, overdue guaranteed trade receivables amounted to $28.1 million; and the
\nallowance for doubtful accounts amounted to $45.5 million.
\n
\nManagement believes that both the allowance for doubtful accounts and the existing guarantees are sufficient to
\ncover doubtful trade receivables.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag776": {
"value": "\n(vi) Liquidity risk
\n
\nTenaris\u2019s financing strategy aims to maintain adequate financial resources and access to additional liquidity. During
\n2023, Tenaris has counted on cash flows from operations as well as additional bank financing to fund its
\ntransactions.
\n
\nManagement maintains sufficient cash and marketable securities to finance normal operations and believes that
\nTenaris also has appropriate access to market for short-term working capital needs.
\n
\nLiquid financial assets as a whole (comprising cash and cash equivalents and other investments) were 19% and 9%
\nof total assets at the end of 2023 and 2022, respectively.
\n
\nTenaris has a conservative approach to the management of its liquidity, which consists of i) cash and cash
\nequivalents (cash in banks, liquidity funds and investments with a maturity of less than three months at the date of
\npurchase), and ii) other investments (fixed income securities, time deposits, and fund investments).
\n
\nTenaris holds primarily investments in money market funds and variable or fixed-rate securities from investment
\ngrade issuers.
\n
\nTenaris holds its investments primarily in U.S. dollars. As of December 31, 2023 and 2022, U.S. dollar denominated
\nliquid assets plus investments denominated in other currencies hedged to the U.S. dollar represented approximately
\n94% and 87% of total liquid financial assets, respectively.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag755": {
"value": "\n
\n\n
\n\n
\n\n
\n\n\n\nB. Category of financial instruments and classification within the fair value hierarchy
\n
\nAs mentioned in note II.V, the Company classifies its financial instruments in the following measurement categories:
\namortized cost, fair value through other comprehensive income and fair value through profit and loss. For financial
\ninstruments that are measured in the statement of financial position at fair value, IFRS 13, \u201cFair value measurement\u201d
\nrequires a disclosure of fair value measurements by level according to the following fair value measurement
\nhierarchy:
\n
\nLevel 1:
\n Quoted prices (unadjusted) in active markets for identical assets or liabilities.
\n
\nLevel 2:
\n Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either
\ndirectly (that is, as prices) or indirectly (that is, derived from prices).
\n
\nLevel 3:
\n Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs).
\n\n\n
\nThe following tables present the financial instruments by category and levels as of December 31, 2023 and 2022.
\n
\n
\n
\n\n
\n\n\n | \nCarrying | \nMeasurement Categories | \n | \nAt Fair Value | \n | \n\n\n\n\n\n\n\n
\n\n| December 31, 2023 | \namount | \nAmortized | \nFVOCI | \nFVPL | \nLevel 1 | \nLevel 2 | \nLevel 3 | \n\n\n\n\n\n\n\n
\n\n | \n | \nCost | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n
\n\n| Assets | \n | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n
\n\n| Cash and cash equivalents | \n1,637,821 | \n1,414,397 | \n - | \n223,424 | \n223,424 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other investments | \n1,969,631 | \n896,166 | \n834,281 | \n239,184 | \n1,073,465 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Fixed income (time-deposit, zero | \n | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n
\n\n| coupon bonds, commercial papers) | \n896,166 | \n896,166 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| U.S. Sovereign Bills | \n282,225 | \n282,225 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Certificates of deposits | \n334,637 | \n334,637 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Commercial papers | \n196,708 | \n196,708 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other notes | \n82,596 | \n82,596 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Bonds and other fixed income | \n834,281 | \n - | \n834,281 | \n - | \n834,281 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| U.S. government securities | \n126,399 | \n - | \n126,399 | \n - | \n126,399 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Non-U.S. government securities | \n10,943 | \n - | \n10,943 | \n - | \n10,943 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Corporates securities | \n696,939 | \n - | \n696,939 | \n | \n696,939 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Mutual Fund | \n239,184 | \n - | \n - | \n239,184 | \n239,184 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Derivative financial instruments | \n9,801 | \n - | \n - | \n9,801 | \n - | \n9,801 | \n - | \n\n\n\n\n\n\n\n
\n\n| Other Investments Non-current | \n405,631 | \n - | \n398,220 | \n7,411 | \n398,220 | \n - | \n7,411 | \n\n\n\n\n\n\n\n
\n\n| Bonds and other fixed income | \n398,220 | \n - | \n398,220 | \n - | \n398,220 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other investments | \n7,411 | \n - | \n - | \n7,411 | \n - | \n - | \n7,411 | \n\n\n\n\n\n\n\n
\n\n| Trade receivables | \n2,480,889 | \n2,480,889 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Receivables C and NC | \n414,778 | \n93,144 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other receivables | \n93,144 | \n93,144 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other receivables (non-financial) | \n321,634 | \n - | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Total | \n | \n4,884,596 | \n1,232,501 | \n479,820 | \n1,695,109 | \n9,801 | \n7,411 | \n\n\n\n\n\n\n\n
\n\n| Liabilities | \n | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n
\n\n| Borrowings C and NC | \n583,437 | \n583,437 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other liabilities C and NC (*) | \n693,913 | \n- | \n- | \n86,240 | \n- | \n- | \n86,240 | \n\n\n\n\n\n\n\n
\n\n| Other liabilities | \n86,240 | \n- | \n- | \n86,240 | \n- | \n- | \n86,240 | \n\n\n\n\n\n\n\n
\n\n| Other liabilities (non-financial) | \n607,673 | \n- | \n- | \n- | \n- | \n- | \n- | \n\n\n\n\n\n\n\n
\n\n| Trade payables | \n1,107,567 | \n1,107,567 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Lease Liabilities C and NC | \n134,433 | \n134,433 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Derivative financial instruments | \n11,150 | \n - | \n - | \n11,150 | \n - | \n11,150 | \n - | \n\n\n\n\n\n\n\n
\n\n| Total | \n | \n1,825,437 | \n - | \n97,390 | \n - | \n11,150 | \n86,240 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(*)
\n Includes liability related to share buyback program. See note 37 to these Consolidated Financial Statements.
\n
\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n\n
\n\n
\n
\n
\n
\n
\n
\n\n
\n\n\n | \nCarrying | \nMeasurement Categories | \n | \n | \nAt Fair Value | \n | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| December 31, 2022 | \namount | \nAmortized | \nFVOCI | \nFVPL | \nLevel 1 | \nLevel 2 | \nLevel 3 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \nCost | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Assets | \n | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cash and cash equivalents | \n1,091,527 | \n668,668 | \n - | \n422,859 | \n422,859 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other investments | \n438,448 | \n196,152 | \n182,988 | \n59,308 | \n242,296 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Fixed income (time-deposit, zero | \n | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| coupon bonds, commercial papers) | \n196,152 | \n196,152 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Certificates of deposits | \n36,167 | \n36,167 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Commercial papers | \n19,785 | \n19,785 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other notes | \n140,200 | \n140,200 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Bonds and other fixed income | \n211,953 | \n - | \n182,988 | \n28,965 | \n211,953 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Non-U.S. government securities | \n108,310 | \n - | \n79,345 | \n28,965 | \n108,310 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Corporates securities | \n103,643 | \n - | \n103,643 | \n - | \n103,643 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Mutual Fund | \n30,343 | \n - | \n - | \n30,343 | \n30,343 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Derivative financial instruments | \n30,805 | \n - | \n - | \n30,805 | \n - | \n30,805 | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other Investments Non-current | \n119,902 | \n - | \n113,574 | \n6,328 | \n113,574 | \n - | \n6,328 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Bonds and other fixed income | \n113,574 | \n - | \n113,574 | \n - | \n113,574 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other investments | \n6,328 | \n - | \n - | \n6,328 | \n - | \n - | \n6,328 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Trade receivables | \n2,493,940 | \n2,493,940 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Receivables C and NC (*) | \n395,531 | \n105,397 | \n48,659 | \n - | \n - | \n - | \n48,659 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other receivables | \n154,056 | \n105,397 | \n48,659 | \n - | \n - | \n - | \n48,659 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other receivables (non-financial) | \n241,475 | \n - | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total | \n | \n3,464,157 | \n345,221 | \n519,300 | \n778,729 | \n30,805 | \n54,987 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Liabilities | \n | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Borrowings C and NC | \n728,762 | \n728,762 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Trade payables | \n1,179,457 | \n1,179,457 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Lease Liabilities C and NC | \n112,177 | \n112,177 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Derivative financial instruments | \n7,127 | \n - | \n - | \n7,127 | \n - | \n7,127 | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total | \n | \n2,020,396 | \n - | \n7,127 | \n - | \n7,127 | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(*)
\n Includes balances related to interest in Venezuelan companies. See note 35 to these Consolidated Financial Statements.
\n
\nThere were no transfers between levels during the year.
\n
\n
\n\nThe fair value of financial instruments traded in active markets is based on quoted market prices at the reporting
\ndate. A market is regarded as active if quoted prices are readily and regularly available from an exchange, dealer,
\nbroker, industry group, pricing service, or regulatory agency, and those prices represent actual and regularly
\noccurring market transactions on an arm\u2019s length basis. The quoted market price used for financial assets held by
\nTenaris is the current bid price. These instruments are included in Level 1 and comprise primarily corporate and
\nsovereign debt securities.
\n
\nThe fair value of financial instruments that are not traded in an active market (such as certain debt securities,
\ncertificates of deposits with original maturity of more than three months, forward and interest rate derivative
\ninstruments) is determined by using valuation techniques which maximize the use of observable market data when
\navailable and rely as little as possible on entity specific estimates. If all significant inputs required to value an
\ninstrument are observable, the instrument is included in Level 2. Tenaris values its assets and liabilities included in
\nthis level using bid prices, interest rate curves, broker quotations, current exchange rates, forward rates and implied
\nvolatilities obtained from market contributors as of the valuation date.
\n
\nIf one or more of the significant inputs are not based on observable market data, the instruments are included in
\nLevel 3. Tenaris values its assets and liabilities in this level using observable market inputs and management
\nassumptions which reflect the Company\u2019s best estimate on how market participants would price the asset or liability
\nat measurement date. Main balances in this level include a liability related to the shares to be settled under the
\nshare buyback program recognized during the period. For more information see note 37.
\n
\n\n\n\n\n
\nThe following table presents the changes in Level 3 assets:
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the beginning of the year | \n54,987 | \n56,294 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Decrease (*) | \n(47,467) | \n(1,126) | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Currency translation adjustment and others | \n(109) | \n(181) | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the end of the year | \n7,411 | \n54,987 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n(*)
\n For 2023, related to the sale of Venezuela awards. For more information see notes 6 and 35.
\n
\n\n\n\n\n\n
\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag778": {
"value": "\n
\n\n
\n\n
\n\n\n\nB. Category of financial instruments and classification within the fair value hierarchy
\n
\nAs mentioned in note II.V, the Company classifies its financial instruments in the following measurement categories:
\namortized cost, fair value through other comprehensive income and fair value through profit and loss. For financial
\ninstruments that are measured in the statement of financial position at fair value, IFRS 13, \u201cFair value measurement\u201d
\nrequires a disclosure of fair value measurements by level according to the following fair value measurement
\nhierarchy:
\n
\nLevel 1:
\n Quoted prices (unadjusted) in active markets for identical assets or liabilities.
\n
\nLevel 2:
\n Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either
\ndirectly (that is, as prices) or indirectly (that is, derived from prices).
\n
\nLevel 3:
\n Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs).
\n\n\n
\nThe following tables present the financial instruments by category and levels as of December 31, 2023 and 2022.
\n
\n
\n
\n\n
\n\n\n | \nCarrying | \nMeasurement Categories | \n | \nAt Fair Value | \n | \n\n\n\n\n\n\n\n
\n\n| December 31, 2023 | \namount | \nAmortized | \nFVOCI | \nFVPL | \nLevel 1 | \nLevel 2 | \nLevel 3 | \n\n\n\n\n\n\n\n
\n\n | \n | \nCost | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n
\n\n| Assets | \n | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n
\n\n| Cash and cash equivalents | \n1,637,821 | \n1,414,397 | \n - | \n223,424 | \n223,424 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other investments | \n1,969,631 | \n896,166 | \n834,281 | \n239,184 | \n1,073,465 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Fixed income (time-deposit, zero | \n | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n
\n\n| coupon bonds, commercial papers) | \n896,166 | \n896,166 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| U.S. Sovereign Bills | \n282,225 | \n282,225 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Certificates of deposits | \n334,637 | \n334,637 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Commercial papers | \n196,708 | \n196,708 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other notes | \n82,596 | \n82,596 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Bonds and other fixed income | \n834,281 | \n - | \n834,281 | \n - | \n834,281 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| U.S. government securities | \n126,399 | \n - | \n126,399 | \n - | \n126,399 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Non-U.S. government securities | \n10,943 | \n - | \n10,943 | \n - | \n10,943 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Corporates securities | \n696,939 | \n - | \n696,939 | \n | \n696,939 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Mutual Fund | \n239,184 | \n - | \n - | \n239,184 | \n239,184 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Derivative financial instruments | \n9,801 | \n - | \n - | \n9,801 | \n - | \n9,801 | \n - | \n\n\n\n\n\n\n\n
\n\n| Other Investments Non-current | \n405,631 | \n - | \n398,220 | \n7,411 | \n398,220 | \n - | \n7,411 | \n\n\n\n\n\n\n\n
\n\n| Bonds and other fixed income | \n398,220 | \n - | \n398,220 | \n - | \n398,220 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other investments | \n7,411 | \n - | \n - | \n7,411 | \n - | \n - | \n7,411 | \n\n\n\n\n\n\n\n
\n\n| Trade receivables | \n2,480,889 | \n2,480,889 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Receivables C and NC | \n414,778 | \n93,144 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other receivables | \n93,144 | \n93,144 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other receivables (non-financial) | \n321,634 | \n - | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Total | \n | \n4,884,596 | \n1,232,501 | \n479,820 | \n1,695,109 | \n9,801 | \n7,411 | \n\n\n\n\n\n\n\n
\n\n| Liabilities | \n | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n
\n\n| Borrowings C and NC | \n583,437 | \n583,437 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other liabilities C and NC (*) | \n693,913 | \n- | \n- | \n86,240 | \n- | \n- | \n86,240 | \n\n\n\n\n\n\n\n
\n\n| Other liabilities | \n86,240 | \n- | \n- | \n86,240 | \n- | \n- | \n86,240 | \n\n\n\n\n\n\n\n
\n\n| Other liabilities (non-financial) | \n607,673 | \n- | \n- | \n- | \n- | \n- | \n- | \n\n\n\n\n\n\n\n
\n\n| Trade payables | \n1,107,567 | \n1,107,567 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Lease Liabilities C and NC | \n134,433 | \n134,433 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Derivative financial instruments | \n11,150 | \n - | \n - | \n11,150 | \n - | \n11,150 | \n - | \n\n\n\n\n\n\n\n
\n\n| Total | \n | \n1,825,437 | \n - | \n97,390 | \n - | \n11,150 | \n86,240 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(*)
\n Includes liability related to share buyback program. See note 37 to these Consolidated Financial Statements.
\n
\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n\n
\n
\n
\n
\n
\n
\n\n
\n\n\n | \nCarrying | \nMeasurement Categories | \n | \n | \nAt Fair Value | \n | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| December 31, 2022 | \namount | \nAmortized | \nFVOCI | \nFVPL | \nLevel 1 | \nLevel 2 | \nLevel 3 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \nCost | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Assets | \n | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cash and cash equivalents | \n1,091,527 | \n668,668 | \n - | \n422,859 | \n422,859 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other investments | \n438,448 | \n196,152 | \n182,988 | \n59,308 | \n242,296 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Fixed income (time-deposit, zero | \n | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| coupon bonds, commercial papers) | \n196,152 | \n196,152 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Certificates of deposits | \n36,167 | \n36,167 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Commercial papers | \n19,785 | \n19,785 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other notes | \n140,200 | \n140,200 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Bonds and other fixed income | \n211,953 | \n - | \n182,988 | \n28,965 | \n211,953 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Non-U.S. government securities | \n108,310 | \n - | \n79,345 | \n28,965 | \n108,310 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Corporates securities | \n103,643 | \n - | \n103,643 | \n - | \n103,643 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Mutual Fund | \n30,343 | \n - | \n - | \n30,343 | \n30,343 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Derivative financial instruments | \n30,805 | \n - | \n - | \n30,805 | \n - | \n30,805 | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other Investments Non-current | \n119,902 | \n - | \n113,574 | \n6,328 | \n113,574 | \n - | \n6,328 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Bonds and other fixed income | \n113,574 | \n - | \n113,574 | \n - | \n113,574 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other investments | \n6,328 | \n - | \n - | \n6,328 | \n - | \n - | \n6,328 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Trade receivables | \n2,493,940 | \n2,493,940 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Receivables C and NC (*) | \n395,531 | \n105,397 | \n48,659 | \n - | \n - | \n - | \n48,659 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other receivables | \n154,056 | \n105,397 | \n48,659 | \n - | \n - | \n - | \n48,659 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other receivables (non-financial) | \n241,475 | \n - | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total | \n | \n3,464,157 | \n345,221 | \n519,300 | \n778,729 | \n30,805 | \n54,987 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Liabilities | \n | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Borrowings C and NC | \n728,762 | \n728,762 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Trade payables | \n1,179,457 | \n1,179,457 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Lease Liabilities C and NC | \n112,177 | \n112,177 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Derivative financial instruments | \n7,127 | \n - | \n - | \n7,127 | \n - | \n7,127 | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total | \n | \n2,020,396 | \n - | \n7,127 | \n - | \n7,127 | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(*)
\n Includes balances related to interest in Venezuelan companies. See note 35 to these Consolidated Financial Statements.
\n
\nThere were no transfers between levels during the year.
\n
\n
\n\nThe fair value of financial instruments traded in active markets is based on quoted market prices at the reporting
\ndate. A market is regarded as active if quoted prices are readily and regularly available from an exchange, dealer,
\nbroker, industry group, pricing service, or regulatory agency, and those prices represent actual and regularly
\noccurring market transactions on an arm\u2019s length basis. The quoted market price used for financial assets held by
\nTenaris is the current bid price. These instruments are included in Level 1 and comprise primarily corporate and
\nsovereign debt securities.
\n
\nThe fair value of financial instruments that are not traded in an active market (such as certain debt securities,
\ncertificates of deposits with original maturity of more than three months, forward and interest rate derivative
\ninstruments) is determined by using valuation techniques which maximize the use of observable market data when
\navailable and rely as little as possible on entity specific estimates. If all significant inputs required to value an
\ninstrument are observable, the instrument is included in Level 2. Tenaris values its assets and liabilities included in
\nthis level using bid prices, interest rate curves, broker quotations, current exchange rates, forward rates and implied
\nvolatilities obtained from market contributors as of the valuation date.
\n
\nIf one or more of the significant inputs are not based on observable market data, the instruments are included in
\nLevel 3. Tenaris values its assets and liabilities in this level using observable market inputs and management
\nassumptions which reflect the Company\u2019s best estimate on how market participants would price the asset or liability
\nat measurement date. Main balances in this level include a liability related to the shares to be settled under the
\nshare buyback program recognized during the period. For more information see note 37.
\n
\n\n\n\n\n
\nThe following table presents the changes in Level 3 assets:
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the beginning of the year | \n54,987 | \n56,294 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Decrease (*) | \n(47,467) | \n(1,126) | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Currency translation adjustment and others | \n(109) | \n(181) | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the end of the year | \n7,411 | \n54,987 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n(*)
\n For 2023, related to the sale of Venezuela awards. For more information see notes 6 and 35.
\n
\n\n\n\n\n\n
\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDebtSecuritiesExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag777": {
"value": "\n
\n\n
\n\n\n\nB. Category of financial instruments and classification within the fair value hierarchy
\n
\nAs mentioned in note II.V, the Company classifies its financial instruments in the following measurement categories:
\namortized cost, fair value through other comprehensive income and fair value through profit and loss. For financial
\ninstruments that are measured in the statement of financial position at fair value, IFRS 13, \u201cFair value measurement\u201d
\nrequires a disclosure of fair value measurements by level according to the following fair value measurement
\nhierarchy:
\n
\nLevel 1:
\n Quoted prices (unadjusted) in active markets for identical assets or liabilities.
\n
\nLevel 2:
\n Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either
\ndirectly (that is, as prices) or indirectly (that is, derived from prices).
\n
\nLevel 3:
\n Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs).
\n\n\n
\nThe following tables present the financial instruments by category and levels as of December 31, 2023 and 2022.
\n
\n
\n
\n\n
\n\n\n | \nCarrying | \nMeasurement Categories | \n | \nAt Fair Value | \n | \n\n\n\n\n\n\n\n
\n\n| December 31, 2023 | \namount | \nAmortized | \nFVOCI | \nFVPL | \nLevel 1 | \nLevel 2 | \nLevel 3 | \n\n\n\n\n\n\n\n
\n\n | \n | \nCost | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n
\n\n| Assets | \n | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n
\n\n| Cash and cash equivalents | \n1,637,821 | \n1,414,397 | \n - | \n223,424 | \n223,424 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other investments | \n1,969,631 | \n896,166 | \n834,281 | \n239,184 | \n1,073,465 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Fixed income (time-deposit, zero | \n | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n
\n\n| coupon bonds, commercial papers) | \n896,166 | \n896,166 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| U.S. Sovereign Bills | \n282,225 | \n282,225 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Certificates of deposits | \n334,637 | \n334,637 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Commercial papers | \n196,708 | \n196,708 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other notes | \n82,596 | \n82,596 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Bonds and other fixed income | \n834,281 | \n - | \n834,281 | \n - | \n834,281 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| U.S. government securities | \n126,399 | \n - | \n126,399 | \n - | \n126,399 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Non-U.S. government securities | \n10,943 | \n - | \n10,943 | \n - | \n10,943 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Corporates securities | \n696,939 | \n - | \n696,939 | \n | \n696,939 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Mutual Fund | \n239,184 | \n - | \n - | \n239,184 | \n239,184 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Derivative financial instruments | \n9,801 | \n - | \n - | \n9,801 | \n - | \n9,801 | \n - | \n\n\n\n\n\n\n\n
\n\n| Other Investments Non-current | \n405,631 | \n - | \n398,220 | \n7,411 | \n398,220 | \n - | \n7,411 | \n\n\n\n\n\n\n\n
\n\n| Bonds and other fixed income | \n398,220 | \n - | \n398,220 | \n - | \n398,220 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other investments | \n7,411 | \n - | \n - | \n7,411 | \n - | \n - | \n7,411 | \n\n\n\n\n\n\n\n
\n\n| Trade receivables | \n2,480,889 | \n2,480,889 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Receivables C and NC | \n414,778 | \n93,144 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other receivables | \n93,144 | \n93,144 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other receivables (non-financial) | \n321,634 | \n - | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Total | \n | \n4,884,596 | \n1,232,501 | \n479,820 | \n1,695,109 | \n9,801 | \n7,411 | \n\n\n\n\n\n\n\n
\n\n| Liabilities | \n | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n
\n\n| Borrowings C and NC | \n583,437 | \n583,437 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other liabilities C and NC (*) | \n693,913 | \n- | \n- | \n86,240 | \n- | \n- | \n86,240 | \n\n\n\n\n\n\n\n
\n\n| Other liabilities | \n86,240 | \n- | \n- | \n86,240 | \n- | \n- | \n86,240 | \n\n\n\n\n\n\n\n
\n\n| Other liabilities (non-financial) | \n607,673 | \n- | \n- | \n- | \n- | \n- | \n- | \n\n\n\n\n\n\n\n
\n\n| Trade payables | \n1,107,567 | \n1,107,567 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Lease Liabilities C and NC | \n134,433 | \n134,433 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Derivative financial instruments | \n11,150 | \n - | \n - | \n11,150 | \n - | \n11,150 | \n - | \n\n\n\n\n\n\n\n
\n\n| Total | \n | \n1,825,437 | \n - | \n97,390 | \n - | \n11,150 | \n86,240 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(*)
\n Includes liability related to share buyback program. See note 37 to these Consolidated Financial Statements.
\n
\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n\n
\n\n\n | \nCarrying | \nMeasurement Categories | \n | \n | \nAt Fair Value | \n | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| December 31, 2022 | \namount | \nAmortized | \nFVOCI | \nFVPL | \nLevel 1 | \nLevel 2 | \nLevel 3 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \nCost | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Assets | \n | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cash and cash equivalents | \n1,091,527 | \n668,668 | \n - | \n422,859 | \n422,859 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other investments | \n438,448 | \n196,152 | \n182,988 | \n59,308 | \n242,296 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Fixed income (time-deposit, zero | \n | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| coupon bonds, commercial papers) | \n196,152 | \n196,152 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Certificates of deposits | \n36,167 | \n36,167 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Commercial papers | \n19,785 | \n19,785 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other notes | \n140,200 | \n140,200 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Bonds and other fixed income | \n211,953 | \n - | \n182,988 | \n28,965 | \n211,953 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Non-U.S. government securities | \n108,310 | \n - | \n79,345 | \n28,965 | \n108,310 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Corporates securities | \n103,643 | \n - | \n103,643 | \n - | \n103,643 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Mutual Fund | \n30,343 | \n - | \n - | \n30,343 | \n30,343 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Derivative financial instruments | \n30,805 | \n - | \n - | \n30,805 | \n - | \n30,805 | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other Investments Non-current | \n119,902 | \n - | \n113,574 | \n6,328 | \n113,574 | \n - | \n6,328 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Bonds and other fixed income | \n113,574 | \n - | \n113,574 | \n - | \n113,574 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other investments | \n6,328 | \n - | \n - | \n6,328 | \n - | \n - | \n6,328 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Trade receivables | \n2,493,940 | \n2,493,940 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Receivables C and NC (*) | \n395,531 | \n105,397 | \n48,659 | \n - | \n - | \n - | \n48,659 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other receivables | \n154,056 | \n105,397 | \n48,659 | \n - | \n - | \n - | \n48,659 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other receivables (non-financial) | \n241,475 | \n - | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total | \n | \n3,464,157 | \n345,221 | \n519,300 | \n778,729 | \n30,805 | \n54,987 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Liabilities | \n | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Borrowings C and NC | \n728,762 | \n728,762 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Trade payables | \n1,179,457 | \n1,179,457 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Lease Liabilities C and NC | \n112,177 | \n112,177 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Derivative financial instruments | \n7,127 | \n - | \n - | \n7,127 | \n - | \n7,127 | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total | \n | \n2,020,396 | \n - | \n7,127 | \n - | \n7,127 | \n - | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(*)
\n Includes balances related to interest in Venezuelan companies. See note 35 to these Consolidated Financial Statements.
\n
\nThere were no transfers between levels during the year.
\n
\n
\n\nThe fair value of financial instruments traded in active markets is based on quoted market prices at the reporting
\ndate. A market is regarded as active if quoted prices are readily and regularly available from an exchange, dealer,
\nbroker, industry group, pricing service, or regulatory agency, and those prices represent actual and regularly
\noccurring market transactions on an arm\u2019s length basis. The quoted market price used for financial assets held by
\nTenaris is the current bid price. These instruments are included in Level 1 and comprise primarily corporate and
\nsovereign debt securities.
\n
\nThe fair value of financial instruments that are not traded in an active market (such as certain debt securities,
\ncertificates of deposits with original maturity of more than three months, forward and interest rate derivative
\ninstruments) is determined by using valuation techniques which maximize the use of observable market data when
\navailable and rely as little as possible on entity specific estimates. If all significant inputs required to value an
\ninstrument are observable, the instrument is included in Level 2. Tenaris values its assets and liabilities included in
\nthis level using bid prices, interest rate curves, broker quotations, current exchange rates, forward rates and implied
\nvolatilities obtained from market contributors as of the valuation date.
\n
\nIf one or more of the significant inputs are not based on observable market data, the instruments are included in
\nLevel 3. Tenaris values its assets and liabilities in this level using observable market inputs and management
\nassumptions which reflect the Company\u2019s best estimate on how market participants would price the asset or liability
\nat measurement date. Main balances in this level include a liability related to the shares to be settled under the
\nshare buyback program recognized during the period. For more information see note 37.
\n
\n\n\n\n\n
\nThe following table presents the changes in Level 3 assets:
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the beginning of the year | \n54,987 | \n56,294 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Decrease (*) | \n(47,467) | \n(1,126) | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Currency translation adjustment and others | \n(109) | \n(181) | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the end of the year | \n7,411 | \n54,987 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n(*)
\n For 2023, related to the sale of Venezuela awards. For more information see notes 6 and 35.
\n
\n\n\n\n\n\n
\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsDesignatedAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag780": {
"value": "\n
\n\n\n\nB. Category of financial instruments and classification within the fair value hierarchy
\n
\nAs mentioned in note II.V, the Company classifies its financial instruments in the following measurement categories:
\namortized cost, fair value through other comprehensive income and fair value through profit and loss. For financial
\ninstruments that are measured in the statement of financial position at fair value, IFRS 13, \u201cFair value measurement\u201d
\nrequires a disclosure of fair value measurements by level according to the following fair value measurement
\nhierarchy:
\n
\nLevel 1:
\n Quoted prices (unadjusted) in active markets for identical assets or liabilities.
\n
\nLevel 2:
\n Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either
\ndirectly (that is, as prices) or indirectly (that is, derived from prices).
\n
\nLevel 3:
\n Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs).
\n\n\n
\nThe following tables present the financial instruments by category and levels as of December 31, 2023 and 2022.
\n
\n
\n
\n\n
\n\n\n | \nCarrying | \nMeasurement Categories | \n | \nAt Fair Value | \n | \n\n\n\n\n\n\n\n
\n\n| December 31, 2023 | \namount | \nAmortized | \nFVOCI | \nFVPL | \nLevel 1 | \nLevel 2 | \nLevel 3 | \n\n\n\n\n\n\n\n
\n\n | \n | \nCost | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n
\n\n| Assets | \n | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n
\n\n| Cash and cash equivalents | \n1,637,821 | \n1,414,397 | \n - | \n223,424 | \n223,424 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other investments | \n1,969,631 | \n896,166 | \n834,281 | \n239,184 | \n1,073,465 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Fixed income (time-deposit, zero | \n | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n
\n\n| coupon bonds, commercial papers) | \n896,166 | \n896,166 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| U.S. Sovereign Bills | \n282,225 | \n282,225 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Certificates of deposits | \n334,637 | \n334,637 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Commercial papers | \n196,708 | \n196,708 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other notes | \n82,596 | \n82,596 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Bonds and other fixed income | \n834,281 | \n - | \n834,281 | \n - | \n834,281 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| U.S. government securities | \n126,399 | \n - | \n126,399 | \n - | \n126,399 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Non-U.S. government securities | \n10,943 | \n - | \n10,943 | \n - | \n10,943 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Corporates securities | \n696,939 | \n - | \n696,939 | \n | \n696,939 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Mutual Fund | \n239,184 | \n - | \n - | \n239,184 | \n239,184 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Derivative financial instruments | \n9,801 | \n - | \n - | \n9,801 | \n - | \n9,801 | \n - | \n\n\n\n\n\n\n\n
\n\n| Other Investments Non-current | \n405,631 | \n - | \n398,220 | \n7,411 | \n398,220 | \n - | \n7,411 | \n\n\n\n\n\n\n\n
\n\n| Bonds and other fixed income | \n398,220 | \n - | \n398,220 | \n - | \n398,220 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other investments | \n7,411 | \n - | \n - | \n7,411 | \n - | \n - | \n7,411 | \n\n\n\n\n\n\n\n
\n\n| Trade receivables | \n2,480,889 | \n2,480,889 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Receivables C and NC | \n414,778 | \n93,144 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other receivables | \n93,144 | \n93,144 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other receivables (non-financial) | \n321,634 | \n - | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Total | \n | \n4,884,596 | \n1,232,501 | \n479,820 | \n1,695,109 | \n9,801 | \n7,411 | \n\n\n\n\n\n\n\n
\n\n| Liabilities | \n | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n
\n\n| Borrowings C and NC | \n583,437 | \n583,437 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other liabilities C and NC (*) | \n693,913 | \n- | \n- | \n86,240 | \n- | \n- | \n86,240 | \n\n\n\n\n\n\n\n
\n\n| Other liabilities | \n86,240 | \n- | \n- | \n86,240 | \n- | \n- | \n86,240 | \n\n\n\n\n\n\n\n
\n\n| Other liabilities (non-financial) | \n607,673 | \n- | \n- | \n- | \n- | \n- | \n- | \n\n\n\n\n\n\n\n
\n\n| Trade payables | \n1,107,567 | \n1,107,567 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Lease Liabilities C and NC | \n134,433 | \n134,433 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Derivative financial instruments | \n11,150 | \n - | \n - | \n11,150 | \n - | \n11,150 | \n - | \n\n\n\n\n\n\n\n
\n\n| Total | \n | \n1,825,437 | \n - | \n97,390 | \n - | \n11,150 | \n86,240 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(*)
\n Includes liability related to share buyback program. See note 37 to these Consolidated Financial Statements.
\n
\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(*)
\n Includes balances related to interest in Venezuelan companies. See note 35 to these Consolidated Financial Statements.
\n
\nThere were no transfers between levels during the year.
\n
\n
\n\nThe fair value of financial instruments traded in active markets is based on quoted market prices at the reporting
\ndate. A market is regarded as active if quoted prices are readily and regularly available from an exchange, dealer,
\nbroker, industry group, pricing service, or regulatory agency, and those prices represent actual and regularly
\noccurring market transactions on an arm\u2019s length basis. The quoted market price used for financial assets held by
\nTenaris is the current bid price. These instruments are included in Level 1 and comprise primarily corporate and
\nsovereign debt securities.
\n
\nThe fair value of financial instruments that are not traded in an active market (such as certain debt securities,
\ncertificates of deposits with original maturity of more than three months, forward and interest rate derivative
\ninstruments) is determined by using valuation techniques which maximize the use of observable market data when
\navailable and rely as little as possible on entity specific estimates. If all significant inputs required to value an
\ninstrument are observable, the instrument is included in Level 2. Tenaris values its assets and liabilities included in
\nthis level using bid prices, interest rate curves, broker quotations, current exchange rates, forward rates and implied
\nvolatilities obtained from market contributors as of the valuation date.
\n
\nIf one or more of the significant inputs are not based on observable market data, the instruments are included in
\nLevel 3. Tenaris values its assets and liabilities in this level using observable market inputs and management
\nassumptions which reflect the Company\u2019s best estimate on how market participants would price the asset or liability
\nat measurement date. Main balances in this level include a liability related to the shares to be settled under the
\nshare buyback program recognized during the period. For more information see note 37.
\n
\n\n\n\n\n
\nThe following table presents the changes in Level 3 assets:
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the beginning of the year | \n54,987 | \n56,294 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Decrease (*) | \n(47,467) | \n(1,126) | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Currency translation adjustment and others | \n(109) | \n(181) | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the end of the year | \n7,411 | \n54,987 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n(*)
\n For 2023, related to the sale of Venezuela awards. For more information see notes 6 and 35.
\n
\n\n\n\n\n\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag779": {
"value": "\n\n\nB. Category of financial instruments and classification within the fair value hierarchy
\n
\nAs mentioned in note II.V, the Company classifies its financial instruments in the following measurement categories:
\namortized cost, fair value through other comprehensive income and fair value through profit and loss. For financial
\ninstruments that are measured in the statement of financial position at fair value, IFRS 13, \u201cFair value measurement\u201d
\nrequires a disclosure of fair value measurements by level according to the following fair value measurement
\nhierarchy:
\n
\nLevel 1:
\n Quoted prices (unadjusted) in active markets for identical assets or liabilities.
\n
\nLevel 2:
\n Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either
\ndirectly (that is, as prices) or indirectly (that is, derived from prices).
\n
\nLevel 3:
\n Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs).
\n\n\n
\nThe following tables present the financial instruments by category and levels as of December 31, 2023 and 2022.
\n
\n
\n
\n\n
\n\n\n | \nCarrying | \nMeasurement Categories | \n | \nAt Fair Value | \n | \n\n\n\n\n\n\n\n
\n\n| December 31, 2023 | \namount | \nAmortized | \nFVOCI | \nFVPL | \nLevel 1 | \nLevel 2 | \nLevel 3 | \n\n\n\n\n\n\n\n
\n\n | \n | \nCost | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n
\n\n| Assets | \n | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n
\n\n| Cash and cash equivalents | \n1,637,821 | \n1,414,397 | \n - | \n223,424 | \n223,424 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other investments | \n1,969,631 | \n896,166 | \n834,281 | \n239,184 | \n1,073,465 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Fixed income (time-deposit, zero | \n | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n
\n\n| coupon bonds, commercial papers) | \n896,166 | \n896,166 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| U.S. Sovereign Bills | \n282,225 | \n282,225 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Certificates of deposits | \n334,637 | \n334,637 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Commercial papers | \n196,708 | \n196,708 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other notes | \n82,596 | \n82,596 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Bonds and other fixed income | \n834,281 | \n - | \n834,281 | \n - | \n834,281 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| U.S. government securities | \n126,399 | \n - | \n126,399 | \n - | \n126,399 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Non-U.S. government securities | \n10,943 | \n - | \n10,943 | \n - | \n10,943 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Corporates securities | \n696,939 | \n - | \n696,939 | \n | \n696,939 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Mutual Fund | \n239,184 | \n - | \n - | \n239,184 | \n239,184 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Derivative financial instruments | \n9,801 | \n - | \n - | \n9,801 | \n - | \n9,801 | \n - | \n\n\n\n\n\n\n\n
\n\n| Other Investments Non-current | \n405,631 | \n - | \n398,220 | \n7,411 | \n398,220 | \n - | \n7,411 | \n\n\n\n\n\n\n\n
\n\n| Bonds and other fixed income | \n398,220 | \n - | \n398,220 | \n - | \n398,220 | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other investments | \n7,411 | \n - | \n - | \n7,411 | \n - | \n - | \n7,411 | \n\n\n\n\n\n\n\n
\n\n| Trade receivables | \n2,480,889 | \n2,480,889 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Receivables C and NC | \n414,778 | \n93,144 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other receivables | \n93,144 | \n93,144 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other receivables (non-financial) | \n321,634 | \n - | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Total | \n | \n4,884,596 | \n1,232,501 | \n479,820 | \n1,695,109 | \n9,801 | \n7,411 | \n\n\n\n\n\n\n\n
\n\n| Liabilities | \n | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n
\n\n| Borrowings C and NC | \n583,437 | \n583,437 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Other liabilities C and NC (*) | \n693,913 | \n- | \n- | \n86,240 | \n- | \n- | \n86,240 | \n\n\n\n\n\n\n\n
\n\n| Other liabilities | \n86,240 | \n- | \n- | \n86,240 | \n- | \n- | \n86,240 | \n\n\n\n\n\n\n\n
\n\n| Other liabilities (non-financial) | \n607,673 | \n- | \n- | \n- | \n- | \n- | \n- | \n\n\n\n\n\n\n\n
\n\n| Trade payables | \n1,107,567 | \n1,107,567 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Lease Liabilities C and NC | \n134,433 | \n134,433 | \n - | \n - | \n - | \n - | \n - | \n\n\n\n\n\n\n\n
\n\n| Derivative financial instruments | \n11,150 | \n - | \n - | \n11,150 | \n - | \n11,150 | \n - | \n\n\n\n\n\n\n\n
\n\n| Total | \n | \n1,825,437 | \n - | \n97,390 | \n - | \n11,150 | \n86,240 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(*)
\n Includes liability related to share buyback program. See note 37 to these Consolidated Financial Statements.
\n
\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(*)
\n Includes balances related to interest in Venezuelan companies. See note 35 to these Consolidated Financial Statements.
\n
\nThere were no transfers between levels during the year.
\n
\n
\n\nThe fair value of financial instruments traded in active markets is based on quoted market prices at the reporting
\ndate. A market is regarded as active if quoted prices are readily and regularly available from an exchange, dealer,
\nbroker, industry group, pricing service, or regulatory agency, and those prices represent actual and regularly
\noccurring market transactions on an arm\u2019s length basis. The quoted market price used for financial assets held by
\nTenaris is the current bid price. These instruments are included in Level 1 and comprise primarily corporate and
\nsovereign debt securities.
\n
\nThe fair value of financial instruments that are not traded in an active market (such as certain debt securities,
\ncertificates of deposits with original maturity of more than three months, forward and interest rate derivative
\ninstruments) is determined by using valuation techniques which maximize the use of observable market data when
\navailable and rely as little as possible on entity specific estimates. If all significant inputs required to value an
\ninstrument are observable, the instrument is included in Level 2. Tenaris values its assets and liabilities included in
\nthis level using bid prices, interest rate curves, broker quotations, current exchange rates, forward rates and implied
\nvolatilities obtained from market contributors as of the valuation date.
\n
\nIf one or more of the significant inputs are not based on observable market data, the instruments are included in
\nLevel 3. Tenaris values its assets and liabilities in this level using observable market inputs and management
\nassumptions which reflect the Company\u2019s best estimate on how market participants would price the asset or liability
\nat measurement date. Main balances in this level include a liability related to the shares to be settled under the
\nshare buyback program recognized during the period. For more information see note 37.
\n
\n\n\n\n\n
\nThe following table presents the changes in Level 3 assets:
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the beginning of the year | \n54,987 | \n56,294 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Decrease (*) | \n(47,467) | \n(1,126) | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Currency translation adjustment and others | \n(109) | \n(181) | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the end of the year | \n7,411 | \n54,987 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n(*)
\n For 2023, related to the sale of Venezuela awards. For more information see notes 6 and 35.
\n
\n\n\n\n\n\nFinancial assets or liabilities classified at fair value through profit or loss are measured under the framework
\nestablished by the IASB accounting guidance for fair value measurements and disclosures.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag941": {
"value": "\nB. Category of financial instruments and classification within the fair value hierarchy
\n
\nAs mentioned in note II.V, the Company classifies its financial instruments in the following measurement categories:
\namortized cost, fair value through other comprehensive income and fair value through profit and loss. For financial
\ninstruments that are measured in the statement of financial position at fair value, IFRS 13, \u201cFair value measurement\u201d
\nrequires a disclosure of fair value measurements by level according to the following fair value measurement
\nhierarchy:
\n
\nLevel 1:
\n Quoted prices (unadjusted) in active markets for identical assets or liabilities.
\n
\nLevel 2:
\n Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either
\ndirectly (that is, as prices) or indirectly (that is, derived from prices).
\n
\nLevel 3:
\n Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs).
\n\n\nThe fair value of financial instruments traded in active markets is based on quoted market prices at the reporting
\ndate. A market is regarded as active if quoted prices are readily and regularly available from an exchange, dealer,
\nbroker, industry group, pricing service, or regulatory agency, and those prices represent actual and regularly
\noccurring market transactions on an arm\u2019s length basis. The quoted market price used for financial assets held by
\nTenaris is the current bid price. These instruments are included in Level 1 and comprise primarily corporate and
\nsovereign debt securities.
\n
\nThe fair value of financial instruments that are not traded in an active market (such as certain debt securities,
\ncertificates of deposits with original maturity of more than three months, forward and interest rate derivative
\ninstruments) is determined by using valuation techniques which maximize the use of observable market data when
\navailable and rely as little as possible on entity specific estimates. If all significant inputs required to value an
\ninstrument are observable, the instrument is included in Level 2. Tenaris values its assets and liabilities included in
\nthis level using bid prices, interest rate curves, broker quotations, current exchange rates, forward rates and implied
\nvolatilities obtained from market contributors as of the valuation date.
\n
\nIf one or more of the significant inputs are not based on observable market data, the instruments are included in
\nLevel 3. Tenaris values its assets and liabilities in this level using observable market inputs and management
\nassumptions which reflect the Company\u2019s best estimate on how market participants would price the asset or liability
\nat measurement date. Main balances in this level include a liability related to the shares to be settled under the
\nshare buyback program recognized during the period. For more information see note 37.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag754": {
"value": "\n
\n
\nC. Fair value estimation
\n
\n\nFinancial assets or liabilities classified at fair value through profit or loss are measured under the framework
\nestablished by the IASB accounting guidance for fair value measurements and disclosures.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nThe fair values of quoted investments are generally based on current bid prices. If the market for a financial asset is
\nnot active or no market is available, fair values are established using standard valuation techniques.
\n
\nThe fair value of all outstanding derivatives is determined using specific pricing models that include inputs that are
\nobservable in the market or can be derived from or corroborated by observable data. The fair value of forward
\nforeign exchange contracts is calculated as the net present value of the estimated future cash flows in each currency,
\nbased on observable yield curves, converted into U.S. dollars at the spot rate of the valuation date.
\n
\n\nBorrowings are classified under other financial liabilities and measured at their amortized cost. Tenaris estimates
\nthat the fair value of its main financial liabilities is approximately 99.8% and 99.2% of its carrying amount (including
\ninterests accrued) in 2023 and 2022 respectively. Fair values were calculated using standard valuation techniques
\nfor floating rate instruments and comparable market rates for discounting cash flows.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nThe carrying amount of investments valuated at amortized cost approximates its fair value.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag769": {
"value": "\nBorrowings are classified under other financial liabilities and measured at their amortized cost. Tenaris estimates
\nthat the fair value of its main financial liabilities is approximately 99.8% and 99.2% of its carrying amount (including
\ninterests accrued) in 2023 and 2022 respectively. Fair values were calculated using standard valuation techniques
\nfor floating rate instruments and comparable market rates for discounting cash flows.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag762": {
"value": "\n
\n\n
\n\nD. Accounting for derivative financial instruments and hedging activities
\n
\nDerivative financial instruments are initially recognized in the statement of financial position at fair value through
\nprofit and loss on each date a derivative contract is entered into and are subsequently remeasured at fair value.
\nSpecific tools are used for calculation of each instrument\u2019s fair value and these tools are tested for consistency on
\na monthly basis. Market rates are used for all pricing operations. These include exchange rates, deposit rates and
\nother discount rates matching the nature of each underlying risk.
\n
\nAs a general rule, Tenaris recognizes the full amount related to the change in fair value of derivative financial
\ninstruments in
\nFinancial Results
\n in the Consolidated Income Statement.
\n
\nTenaris designates certain derivatives as hedges of particular risks associated with recognized assets or liabilities or
\nhighly probable forecast transactions. These transactions are classified as cash flow hedges. The effective portion of
\nthe fair value of derivatives that are designated and qualify as cash flow hedges is recognized in equity. Amounts
\naccumulated in equity are then recognized in the income statement in the same period as the offsetting losses and
\ngains on the hedged item. The gain or loss relating to the ineffective portion is recognized immediately in the
\nincome statement. The fair value of Tenaris\u2019s derivative financial instruments (assets or liabilities) continues to be
\nreflected in the statement of financial position.
\n
\nFor transactions designated and qualifying for hedge accounting, Tenaris documents at the inception of the
\ntransaction the relationship between hedging instruments and hedged items, as well as its risk management
\nobjectives and strategy for undertaking various hedge transactions. Tenaris also documents its assessment on an
\nongoing basis, of whether the hedging instruments are highly effective in offsetting changes in the fair value or
\ncash flow of hedged items. At December 31, 2023 and 2022, the effective portion of designated cash flow hedges
\nwhich is included in
\nOther Reserves
\n in equity amounted to $8.1 million credit and $13.1 million credit respectively.
\n
\nThe fair values of various derivative instruments used for hedging purposes and the movements of the hedging
\nreserve included within
\nOther Reserves
\n in equity are disclosed in note 26 to these Consolidated Financial Statements.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag772": {
"value": "\n
\n\nD. Accounting for derivative financial instruments and hedging activities
\n
\nDerivative financial instruments are initially recognized in the statement of financial position at fair value through
\nprofit and loss on each date a derivative contract is entered into and are subsequently remeasured at fair value.
\nSpecific tools are used for calculation of each instrument\u2019s fair value and these tools are tested for consistency on
\na monthly basis. Market rates are used for all pricing operations. These include exchange rates, deposit rates and
\nother discount rates matching the nature of each underlying risk.
\n
\nAs a general rule, Tenaris recognizes the full amount related to the change in fair value of derivative financial
\ninstruments in
\nFinancial Results
\n in the Consolidated Income Statement.
\n
\nTenaris designates certain derivatives as hedges of particular risks associated with recognized assets or liabilities or
\nhighly probable forecast transactions. These transactions are classified as cash flow hedges. The effective portion of
\nthe fair value of derivatives that are designated and qualify as cash flow hedges is recognized in equity. Amounts
\naccumulated in equity are then recognized in the income statement in the same period as the offsetting losses and
\ngains on the hedged item. The gain or loss relating to the ineffective portion is recognized immediately in the
\nincome statement. The fair value of Tenaris\u2019s derivative financial instruments (assets or liabilities) continues to be
\nreflected in the statement of financial position.
\n
\nFor transactions designated and qualifying for hedge accounting, Tenaris documents at the inception of the
\ntransaction the relationship between hedging instruments and hedged items, as well as its risk management
\nobjectives and strategy for undertaking various hedge transactions. Tenaris also documents its assessment on an
\nongoing basis, of whether the hedging instruments are highly effective in offsetting changes in the fair value or
\ncash flow of hedged items. At December 31, 2023 and 2022, the effective portion of designated cash flow hedges
\nwhich is included in
\nOther Reserves
\n in equity amounted to $8.1 million credit and $13.1 million credit respectively.
\n
\nThe fair values of various derivative instruments used for hedging purposes and the movements of the hedging
\nreserve included within
\nOther Reserves
\n in equity are disclosed in note 26 to these Consolidated Financial Statements.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag750": {
"value": "\nD. Accounting for derivative financial instruments and hedging activities
\n
\nDerivative financial instruments are initially recognized in the statement of financial position at fair value through
\nprofit and loss on each date a derivative contract is entered into and are subsequently remeasured at fair value.
\nSpecific tools are used for calculation of each instrument\u2019s fair value and these tools are tested for consistency on
\na monthly basis. Market rates are used for all pricing operations. These include exchange rates, deposit rates and
\nother discount rates matching the nature of each underlying risk.
\n
\nAs a general rule, Tenaris recognizes the full amount related to the change in fair value of derivative financial
\ninstruments in
\nFinancial Results
\n in the Consolidated Income Statement.
\n
\nTenaris designates certain derivatives as hedges of particular risks associated with recognized assets or liabilities or
\nhighly probable forecast transactions. These transactions are classified as cash flow hedges. The effective portion of
\nthe fair value of derivatives that are designated and qualify as cash flow hedges is recognized in equity. Amounts
\naccumulated in equity are then recognized in the income statement in the same period as the offsetting losses and
\ngains on the hedged item. The gain or loss relating to the ineffective portion is recognized immediately in the
\nincome statement. The fair value of Tenaris\u2019s derivative financial instruments (assets or liabilities) continues to be
\nreflected in the statement of financial position.
\n
\nFor transactions designated and qualifying for hedge accounting, Tenaris documents at the inception of the
\ntransaction the relationship between hedging instruments and hedged items, as well as its risk management
\nobjectives and strategy for undertaking various hedge transactions. Tenaris also documents its assessment on an
\nongoing basis, of whether the hedging instruments are highly effective in offsetting changes in the fair value or
\ncash flow of hedged items. At December 31, 2023 and 2022, the effective portion of designated cash flow hedges
\nwhich is included in
\nOther Reserves
\n in equity amounted to $8.1 million credit and $13.1 million credit respectively.
\n
\nThe fair values of various derivative instruments used for hedging purposes and the movements of the hedging
\nreserve included within
\nOther Reserves
\n in equity are disclosed in note 26 to these Consolidated Financial Statements.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag788": {
"value": "\n1 Segment information
\n
\nAs mentioned in section II.C, the Segment Information is disclosed as follows:
\n
\nReportable operating segments
\n
\n(All amounts in millions of U.S. dollars)
\n
\n\n
\n\n\n| Year ended December 31, 2023 | \nTubes | \nOther | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Management view - operating income | \n4,337 | \n129 | \n4,466 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Difference in cost of sales | \n | \n | \n (134) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Differences in selling, general and administrative expenses | \n | \n | \n (7) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Differences in other operating income (expenses), net | \n | \n | \n (9) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| IFRS - operating income | \n | \n | \n4,316 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Financial income (expense), net | \n | \n | \n221 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Income before equity in earnings of non-consolidated companies and income tax | \n | \n | \n4,537 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Equity in earnings of non-consolidated companies | \n | \n | \n95 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Income before income tax | \n | \n | \n4,633 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net Sales | \n14,185 | \n684 | \n14,869 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation and amortization | \n518 | \n31 | \n549 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n\n
\n\n\n| Year ended December 31, 2022 | \nTubes | \nOther | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Management view - operating income | \n2,772 | \n75 | \n2,847 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Difference in cost of sales | \n | \n | \n44 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Differences in depreciation and amortization | \n | \n | \n2 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Differences in selling, general and administrative expenses | \n | \n | \n (4) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Differences in other operating income (expenses), net | \n | \n | \n74 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| IFRS - operating income | \n | \n | \n2,963 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Financial income (expense), net | \n | \n | \n (6) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Income before equity in earnings of non-consolidated companies and income tax | \n | \n | \n2,957 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Equity in earnings of non-consolidated companies | \n | \n | \n209 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Income before income tax | \n | \n | \n3,166 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net Sales | \n11,133 | \n630 | \n11,763 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation and amortization | \n588 | \n20 | \n608 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n\n
\n\n\n| Year ended December 31, 2021 | \nTubes | \nOther | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Management view - operating income | \n178 | \n65 | \n243 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Difference in cost of sales | \n | \n | \n473 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Differences in depreciation and amortization | \n | \n | \n (1) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Differences in other operating income (expenses), net | \n | \n | \n (8) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| IFRS - operating income | \n | \n | \n707 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Financial income (expense), net | \n | \n | \n23 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Income before equity in earnings of non-consolidated companies and income tax | \n | \n | \n730 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Equity in earnings of non-consolidated companies | \n | \n | \n513 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Income before income tax | \n | \n | \n1,243 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net Sales | \n5,994 | \n528 | \n6,521 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation and amortization | \n575 | \n20 | \n595 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nTransactions between segments, which were eliminated in consolidation, are mainly related to sales of scrap,
\nenergy, surplus raw materials and others from the Other segment to the Tubes segment for $98.5 million, $77.9
\nmillion and $45.6 million in 2023, 2022 and 2021, respectively.
\n
\nThere are no material differences between IFRS and management view in total revenues and by reportable
\nsegments.
\n
\nThe differences between operating income under IFRS view and the management view are mainly related to the
\ncost of goods sold, reflecting the effect of raw materials prices increases on the valuation of the replacement cost
\nconsidered for management view compared to IFRS cost calculated at historical cost on a FIFO basis, and other
\nminor timing differences.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\nThe main difference in
\nOther operating income (expenses), net
\n, for the year ended December 31, 2022, is
\nattributable to the effect of the reclassification of the currency translation adjustment reserve related to NKK Tubes\u2019
\ndefinitive cease of operations, not impacting the management view.
\n
\nIn addition to the amounts reconciled above, the main differences in net income arise from the impact of functional
\ncurrencies on financial result, deferred income taxes as well as the result of investment in non-consolidated
\ncompanies.
\n
\nGeographical information
\n
\n
\n\n
\n\n\n | \n
| \n
| \n | \nAsia Pacific, | \nUnallocated | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nNorth | \nSouth | \nEurope | \nMiddle East | \n(**) | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nAmerica | \nAmerica | \n | \nand Africa (*) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Year ended December 31, 2023 | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net sales | \n7,765,130 | \n3,382,495 | \n1,175,581 | \n2,545,654 | \n - | \n14,868,860 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total assets | \n11,210,620 | \n3,751,121 | \n2,839,378 | \n1,671,972 | \n1,608,804 | \n21,081,895 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Trade receivables, net | \n1,222,635 | \n447,379 | \n278,077 | \n532,798 | \n - | \n2,480,889 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Property, plant and equipment, net | \n3,676,352 | \n1,143,752 | \n794,242 | \n463,833 | \n - | \n6,078,179 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Capital expenditures | \n214,932 | \n246,061 | \n119,820 | \n38,632 | \n - | \n619,445 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation and amortization | \n307,139 | \n115,156 | \n74,862 | \n51,353 | \n - | \n548,510 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Year ended December 31, 2022 | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net sales | \n6,902,787 | \n2,550,402 | \n1,000,833 | \n1,308,504 | \n - | \n11,762,526 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total assets | \n9,018,386 | \n3,896,403 | \n2,071,624 | \n1,023,187 | \n1,540,646 | \n17,550,246 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Trade receivables, net | \n1,371,717 | \n583,223 | \n202,753 | \n336,247 | \n - | \n2,493,940 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Property, plant and equipment, net | \n3,548,844 | \n1,031,423 | \n706,539 | \n269,457 | \n - | \n5,556,263 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Capital expenditures | \n118,644 | \n176,448 | \n62,143 | \n21,211 | \n - | \n378,446 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation and amortization | \n348,550 | \n125,324 | \n76,631 | \n57,218 | \n - | \n607,723 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Year ended December 31, 2021 | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net sales | \n3,360,345 | \n1,311,279 | \n742,463 | \n1,107,120 | \n - | \n6,521,207 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total assets | \n7,992,946 | \n2,399,448 | \n1,727,573 | \n945,690 | \n1,383,774 | \n14,449,431 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Trade receivables, net | \n652,483 | \n234,800 | \n180,515 | \n231,274 | \n - | \n1,299,072 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Property, plant and equipment, net | \n3,805,912 | \n984,413 | \n742,461 | \n292,015 | \n - | \n5,824,801 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Capital expenditures | \n106,118 | \n63,723 | \n43,344 | \n26,333 | \n - | \n239,518 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation and amortization | \n307,116 | \n125,781 | \n89,667 | \n72,157 | \n - | \n594,721 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(*)
\nStarting on January 1, 2023, Asia Pacific and Middle East and Africa segments were merged in a single geographical segment.
\n
\n
\n(**)
\nFor 2023, 2022 and 2021 includes
\nInvestments in non-consolidated companies
\n. See note 14 to these Consolidated Financial Statements.
\n
\n\nThere are no revenues from external customers attributable to the Company\u2019s country of incorporation
\n(Luxembourg).
\n
\nThe principal countries from which the Company derives its revenues are USA (39%), Argentina (15%), Mexico,
\nCanada, Saudi Arabia and Brazil.
\n
\nRevenue is mainly recognized at a point in time to direct customers, when control has been transferred and there
\nis no unfulfilled performance obligation that could affect the acceptance of the product by the customer. Revenues
\nrelated to governmental institutions represent approximately 26%, 22% and 23% in 2023, 2022 and 2021
\nrespectively.
\n
\nTubes segment revenues by market:
\n
\n(All amounts in millions of U.S. dollars)
\n
\n\n
\n\n\n| Revenues Tubes | \n2023 | \n2022 | \n2021 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Oil & gas | \n12,488 | \n9,543 | \n4,895 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Oil & gas processing plants | \n818 | \n738 | \n459 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Industrial, power and others | \n879 | \n852 | \n640 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total | \n14,185 | \n11,133 | \n5,994 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nAt December 31, 2023, 2022 and 2021, the Company recognized contract liabilities related to customer advances
\nin the amount of $263.7 million, $242.9 million and $92.4 million, respectively. Each of these amounts are
\nreclassified to revenues during the subsequent years. In these periods, no significant adjustments in revenues were
\nperformed related to previously satisfied performance obligations.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag786": {
"value": "\nThere are no revenues from external customers attributable to the Company\u2019s country of incorporation
\n(Luxembourg).
\n
\nThe principal countries from which the Company derives its revenues are USA (39%), Argentina (15%), Mexico,
\nCanada, Saudi Arabia and Brazil.
\n
\nRevenue is mainly recognized at a point in time to direct customers, when control has been transferred and there
\nis no unfulfilled performance obligation that could affect the acceptance of the product by the customer. Revenues
\nrelated to governmental institutions represent approximately 26%, 22% and 23% in 2023, 2022 and 2021
\nrespectively.
\n
\nTubes segment revenues by market:
\n
\n(All amounts in millions of U.S. dollars)
\n
\n\n
\n\n\n| Revenues Tubes | \n2023 | \n2022 | \n2021 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Oil & gas | \n12,488 | \n9,543 | \n4,895 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Oil & gas processing plants | \n818 | \n738 | \n459 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Industrial, power and others | \n879 | \n852 | \n640 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total | \n14,185 | \n11,133 | \n5,994 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nAt December 31, 2023, 2022 and 2021, the Company recognized contract liabilities related to customer advances
\nin the amount of $263.7 million, $242.9 million and $92.4 million, respectively. Each of these amounts are
\nreclassified to revenues during the subsequent years. In these periods, no significant adjustments in revenues were
\nperformed related to previously satisfied performance obligations.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag797": {
"value": "USA (39%), Argentina (15%), Mexico,Canada, Saudi Arabia and Brazil.",
"dimensions": {
"concept": "ifrs-full:PrincipalPlaceOfBusiness",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag748": {
"value": "\n
\n2 Cost of sales
\n
\n
\n\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n2021 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Inventories at the beginning of the year | \n3,986,929 | \n2,672,593 | \n1,636,673 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Increase in inventory due to business combinations (*) | \n107,588 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Decrease in inventory due to sale of subsidiaries | \n - | \n - | \n(10,662) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Plus: Charges of the year | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Raw materials, energy, consumables and other | \n5,277,507 | \n5,772,031 | \n3,841,551 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Services and fees | \n437,804 | \n293,490 | \n208,472 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Labor cost | \n1,403,546 | \n1,160,085 | \n824,071 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation of property, plant and equipment | \n424,373 | \n465,849 | \n448,843 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Amortization of intangible assets | \n11,582 | \n11,754 | \n7,645 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation of right-of-use assets | \n30,352 | \n33,244 | \n35,910 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Maintenance expenses | \n408,410 | \n267,294 | \n129,350 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Allowance for obsolescence | \n13,581 | \n24,901 | \n23,296 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Taxes | \n272,120 | \n194,736 | \n40,887 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other | \n216,220 | \n178,691 | \n98,159 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n8,603,083 | \n8,402,075 | \n5,647,522 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Less: Inventories at the end of the year | \n(3,921,097) | \n(3,986,929) | \n(2,672,593) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n8,668,915 | \n7,087,739 | \n4,611,602 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n(*)
\nRelated to the GPC, Isoplus anticorrosion coating division and Mattr\u2019s pipe coating business unit acquisitions. For more information see note
\n34.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCostOfSalesExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag765": {
"value": "\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n2021 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Inventories at the beginning of the year | \n3,986,929 | \n2,672,593 | \n1,636,673 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Increase in inventory due to business combinations (*) | \n107,588 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Decrease in inventory due to sale of subsidiaries | \n - | \n - | \n(10,662) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Plus: Charges of the year | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Raw materials, energy, consumables and other | \n5,277,507 | \n5,772,031 | \n3,841,551 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Services and fees | \n437,804 | \n293,490 | \n208,472 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Labor cost | \n1,403,546 | \n1,160,085 | \n824,071 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation of property, plant and equipment | \n424,373 | \n465,849 | \n448,843 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Amortization of intangible assets | \n11,582 | \n11,754 | \n7,645 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation of right-of-use assets | \n30,352 | \n33,244 | \n35,910 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Maintenance expenses | \n408,410 | \n267,294 | \n129,350 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Allowance for obsolescence | \n13,581 | \n24,901 | \n23,296 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Taxes | \n272,120 | \n194,736 | \n40,887 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other | \n216,220 | \n178,691 | \n98,159 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n8,603,083 | \n8,402,075 | \n5,647,522 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Less: Inventories at the end of the year | \n(3,921,097) | \n(3,986,929) | \n(2,672,593) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n8,668,915 | \n7,087,739 | \n4,611,602 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n(*)
\nRelated to the GPC, Isoplus anticorrosion coating division and Mattr\u2019s pipe coating business unit acquisitions. For more information see note
\n34.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n2021 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Services and fees | \n163,723 | \n148,331 | \n115,303 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Labor cost | \n652,820 | \n518,500 | \n426,414 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation of property, plant and equipment | \n21,517 | \n21,883 | \n22,924 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Amortization of intangible assets | \n40,761 | \n59,018 | \n63,874 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation of right-of-use assets | \n19,925 | \n15,975 | \n15,525 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Freights and other selling expenses | \n696,705 | \n641,812 | \n415,895 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Provisions for contingencies | \n38,899 | \n20,606 | \n24,998 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Allowances for doubtful accounts | \n3,590 | \n(223) | \n(4,297) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Taxes | \n170,484 | \n121,410 | \n78,800 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other | \n110,883 | \n87,263 | \n47,133 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n1,919,307 | \n1,634,575 | \n1,206,569 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag757": {
"value": "\n
\n3 Selling, general and administrative expenses
\n
\n
\n\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n2021 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Services and fees | \n163,723 | \n148,331 | \n115,303 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Labor cost | \n652,820 | \n518,500 | \n426,414 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation of property, plant and equipment | \n21,517 | \n21,883 | \n22,924 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Amortization of intangible assets | \n40,761 | \n59,018 | \n63,874 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation of right-of-use assets | \n19,925 | \n15,975 | \n15,525 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Freights and other selling expenses | \n696,705 | \n641,812 | \n415,895 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Provisions for contingencies | \n38,899 | \n20,606 | \n24,998 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Allowances for doubtful accounts | \n3,590 | \n(223) | \n(4,297) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Taxes | \n170,484 | \n121,410 | \n78,800 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other | \n110,883 | \n87,263 | \n47,133 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n1,919,307 | \n1,634,575 | \n1,206,569 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag790": {
"value": "\n4 Labor costs (included in Cost of sales and in Selling, general and administrative expenses)
\n
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n2021 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Wages, salaries and social security costs | \n1,943,825 | \n1,594,200 | \n1,170,562 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Severance indemnities | \n26,470 | \n29,070 | \n28,625 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Post-employment benefits - defined contribution plans | \n15,055 | \n13,256 | \n12,608 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Post-employment benefits - defined benefit plans | \n19,452 | \n16,320 | \n13,353 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Employee retention and long-term incentive program | \n51,564 | \n25,739 | \n25,337 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2,056,366 | \n1,678,585 | \n1,250,485 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\nThe following table shows the geographical distribution of the employees:
\n
\n
\n\n
\n\n\n | \n2023 | \n2022 | \n2021 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Mexico | \n7,500 | \n5,919 | \n5,474 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Argentina | \n6,267 | \n6,444 | \n5,169 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| USA | \n3,882 | \n3,509 | \n2,684 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Italy | \n2,187 | \n2,136 | \n2,011 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Romania | \n1,884 | \n1,847 | \n1,725 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Indonesia | \n1,573 | \n495 | \n506 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Brazil | \n1,492 | \n1,460 | \n1,817 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Canada | \n1,195 | \n944 | \n758 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Colombia | \n1,112 | \n1,183 | \n1,009 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Saudi Arabia | \n849 | \n427 | \n408 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other | \n1,193 | \n928 | \n1,215 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n29,134 | \n25,292 | \n22,776 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag791": {
"value": "\nThe following table shows the geographical distribution of the employees:
\n
\n
\n\n
\n\n\n | \n2023 | \n2022 | \n2021 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Mexico | \n7,500 | \n5,919 | \n5,474 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Argentina | \n6,267 | \n6,444 | \n5,169 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| USA | \n3,882 | \n3,509 | \n2,684 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Italy | \n2,187 | \n2,136 | \n2,011 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Romania | \n1,884 | \n1,847 | \n1,725 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Indonesia | \n1,573 | \n495 | \n506 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Brazil | \n1,492 | \n1,460 | \n1,817 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Canada | \n1,195 | \n944 | \n758 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Colombia | \n1,112 | \n1,183 | \n1,009 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Saudi Arabia | \n849 | \n427 | \n408 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other | \n1,193 | \n928 | \n1,215 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n29,134 | \n25,292 | \n22,776 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag760": {
"value": "\n5 Impairment charge
\n
\nTenaris\u2019s main source of revenue is the sale of products and services to the oil and gas industry, and the level of
\nsuch sales is sensitive to international oil and gas prices and their impact on drilling activities.
\n
\nThe Company conducts regular assessments of the carrying values of its assets. The recoverable value is based on
\nthe value in use. The main key assumptions used in estimating the value in use are discount rate, growth rate and
\ncompetitive, economic and regulatory factors applied to determine cash flow projections, such as oil and gas prices,
\naverage number of active oil and gas drilling rigs (rig count) and raw material costs.
\n
\nFor purposes of assessing key assumptions, to estimate discounted future cash flows, the Company uses external
\nsources of information and management judgment based on past experience and expectations. Management has
\ndetermined the value of each of the key assumptions as follows:
\n
\n- Discount rate: based on the applicable weighted average cost of capital (\u201cWACC\u201d), which is considered to be a
\ngood indicator of capital cost, taking into account the industry, country and size of the business. For each CGU
\nwhere assets are allocated, a specific WACC was determined.
\n
\n- Growth rate: considers mainly the inflation impact on prices and costs, the long-term evolution of the oil and gas
\nindustry, the higher demand to offset depletion of existing fields and the Company\u2019s expected market penetration.
\nIn 2023, a nominal growth rate of 2% was considered.
\n
\n- Oil and gas prices: based on industry analysts\u2019 reports and management\u2019s expectations of market development.
\n
\n- Rig count: based on information published by Baker Hughes and management\u2019s expectations.
\n
\n- Raw material costs: based on industry analysts\u2019 reports and management\u2019s expectations.
\n
\nConsidering that the recoverable amount of the cash-generating units obtained in prior years' tests and that the
\nassets and liabilities making up those units have not changed significantly, nor the key assumptions mentioned
\nabove, the Company concluded that impairment tests for previous years are still valid as of the end of the reporting
\nperiod. In addition, the Company has considered the impact of updating the main discount rates, applying rates in
\na range between 12.5% and 21.4% for the CGUs under analysis. Based on the facts mentioned above, the
\nCompany concluded that no impairment charge shall be recognized for the year 2023.
\n
\nIn December 2022, in the presence of impairment indicators, the Company conducted impairment tests and
\nreviewed the values of certain idle assets in its subsidiaries. The aforementioned analysis resulted in impairment
\ncharges of $76.7 million, allocated in $63.1 million to the Tubes segment and $13.6 million to the Other segment.
\nThe main discount rates used were in a range between 13.4% and 20.2%. In 2022, a nominal growth rate of 2%
\nwas considered.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nIn December 2021, as a result of the expected termination of the NKKTubes joint venture, which at the time
\nrepresented an impairment indicator for its assets, an impairment test was conducted, resulting in a charge of $57
\nmillion that totally reduced the carrying amounts of property, plant and equipment and intangible assets. The total
\namount was allocated to the Tubes segment. The main discount rates used were in a range between 10.9% and
\n18.8%. In 2021, a nominal growth rate of 2% was considered.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag774": {
"value": "\n
\n
\n
\n
\n\n
\n6 Other operating income and expenses
\n
\n
\n
\n\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n2021 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other operating income | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net income from other sales | \n10,960 | \n28,161 | \n10,694 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net rents | \n4,702 | \n5,084 | \n5,314 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Reclassification of currency translation adjustment reserve | \n878 | \n71,252 | \n- | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Tax recovery in Brazilian subsidiaries | \n- | \n- | \n35,568 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Bargain purchase gain | \n3,162 | \n- | \n- | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Result on sale of Venezuela awards | \n33,341 | \n- | \n- | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Recovery on allowance for doubtful receivables | \n- | \n- | \n379 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other income | \n- | \n- | \n16,290 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n53,043 | \n104,497 | \n68,245 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other operating expenses | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Contributions to welfare projects and non-profit organizations | \n15,538 | \n13,668 | \n6,697 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Allowance for doubtful receivables | \n107 | \n346 | \n- | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Securities Exchange Commission investigation settlement | \n- | \n78,100 | \n- | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other expense | \n1,628 | \n12,595 | \n- | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n17,273 | \n104,709 | \n6,697 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other income, net | \n35,770 | \n(212) | \n61,548 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\nReclassification of currency translation adjustment reserve:
\n During 2022, as result of NKKTubes\u2019 definitive cease of
\noperations, the currency translation adjustment reserve belonging to the shareholders was reclassified to the income
\nstatement. For more information see note 36.
\n
\nTax recovery in Brazilian subsidiaries:
\n
\nOn May 13, 2021, the Brazilian Supreme Court issued a final judgment
\nconfirming that in calculating PIS and COFINS (Federal Social Contributions on Gross Revenues), tax payers should
\nexclude from its base the total output of ICMS, calculated on a gross basis. This decision led to a recognition of
\napproximately $53 million tax credit in Brazilian subsidiaries, out of which $36 million were recognized in other
\noperating income and $17 million in financial results (impacting in Finance Income and Finance Cost). In addition
\nthe tax charge related to this gain amounted to $12 million.
\n
\nBargain purchase gain:
\n This gain relates to the Isoplus anticorrosion coating division acquisition. For more
\ninformation see note 34 \u201cBusiness Combinations -
\nAcquisition of Anticorrosion Coating Assets in Italy
\n\u201d.
\n
\nResult on sale of Venezuela awards:
\n For more information see note 35.
\n
\nOther income:
\n On November 1, 2021, Tenaris sold 100% of the shares of Geneva Structural Tubes LLC (\u201cGeneva\u201d)
\nto MKK USA Inc., a subsidiary of Maruichi Steel Tube Ltd of Japan for an aggregate price of $24.3 million. The gain
\nof this transaction amounted to approximately $6.8 million.
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\nSecurities Exchange Commission investigation settlement
\n:
\n
\nFor more information see note 27 \u201cContingencies,
\ncommitments and restrictions to the distribution of profits -
\nContingencies - Petrobras-related proceedings and
\nclaims
\n\u201d.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag775": {
"value": "\n
\n6 Other operating income and expenses
\n
\n
\n
\n\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n2021 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other operating income | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net income from other sales | \n10,960 | \n28,161 | \n10,694 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net rents | \n4,702 | \n5,084 | \n5,314 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Reclassification of currency translation adjustment reserve | \n878 | \n71,252 | \n- | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Tax recovery in Brazilian subsidiaries | \n- | \n- | \n35,568 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Bargain purchase gain | \n3,162 | \n- | \n- | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Result on sale of Venezuela awards | \n33,341 | \n- | \n- | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Recovery on allowance for doubtful receivables | \n- | \n- | \n379 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other income | \n- | \n- | \n16,290 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n53,043 | \n104,497 | \n68,245 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other operating expenses | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Contributions to welfare projects and non-profit organizations | \n15,538 | \n13,668 | \n6,697 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Allowance for doubtful receivables | \n107 | \n346 | \n- | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Securities Exchange Commission investigation settlement | \n- | \n78,100 | \n- | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other expense | \n1,628 | \n12,595 | \n- | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n17,273 | \n104,709 | \n6,697 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other income, net | \n35,770 | \n(212) | \n61,548 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\nReclassification of currency translation adjustment reserve:
\n During 2022, as result of NKKTubes\u2019 definitive cease of
\noperations, the currency translation adjustment reserve belonging to the shareholders was reclassified to the income
\nstatement. For more information see note 36.
\n
\nTax recovery in Brazilian subsidiaries:
\n
\nOn May 13, 2021, the Brazilian Supreme Court issued a final judgment
\nconfirming that in calculating PIS and COFINS (Federal Social Contributions on Gross Revenues), tax payers should
\nexclude from its base the total output of ICMS, calculated on a gross basis. This decision led to a recognition of
\napproximately $53 million tax credit in Brazilian subsidiaries, out of which $36 million were recognized in other
\noperating income and $17 million in financial results (impacting in Finance Income and Finance Cost). In addition
\nthe tax charge related to this gain amounted to $12 million.
\n
\nBargain purchase gain:
\n This gain relates to the Isoplus anticorrosion coating division acquisition. For more
\ninformation see note 34 \u201cBusiness Combinations -
\nAcquisition of Anticorrosion Coating Assets in Italy
\n\u201d.
\n
\nResult on sale of Venezuela awards:
\n For more information see note 35.
\n
\nOther income:
\n On November 1, 2021, Tenaris sold 100% of the shares of Geneva Structural Tubes LLC (\u201cGeneva\u201d)
\nto MKK USA Inc., a subsidiary of Maruichi Steel Tube Ltd of Japan for an aggregate price of $24.3 million. The gain
\nof this transaction amounted to approximately $6.8 million.
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag764": {
"value": "\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n2021 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other operating income | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net income from other sales | \n10,960 | \n28,161 | \n10,694 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net rents | \n4,702 | \n5,084 | \n5,314 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Reclassification of currency translation adjustment reserve | \n878 | \n71,252 | \n- | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Tax recovery in Brazilian subsidiaries | \n- | \n- | \n35,568 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Bargain purchase gain | \n3,162 | \n- | \n- | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Result on sale of Venezuela awards | \n33,341 | \n- | \n- | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Recovery on allowance for doubtful receivables | \n- | \n- | \n379 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other income | \n- | \n- | \n16,290 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n53,043 | \n104,497 | \n68,245 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other operating expenses | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Contributions to welfare projects and non-profit organizations | \n15,538 | \n13,668 | \n6,697 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Allowance for doubtful receivables | \n107 | \n346 | \n- | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Securities Exchange Commission investigation settlement | \n- | \n78,100 | \n- | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other expense | \n1,628 | \n12,595 | \n- | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n17,273 | \n104,709 | \n6,697 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other income, net | \n35,770 | \n(212) | \n61,548 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSecurities Exchange Commission investigation settlement
\n:
\n
\nFor more information see note 27 \u201cContingencies,
\ncommitments and restrictions to the distribution of profits -
\nContingencies - Petrobras-related proceedings and
\nclaims
\n\u201d.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag793": {
"value": "\n
\n
\n
\n
\n
\n
\n7 Financial results
\n
\n
\n
\n\n
\n
\n
\n\n
\n\n
\n\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n2021 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest income | \n201,852 | \n86,112 | \n38,048 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net result on changes in FV of financial assets at FVPL | \n11,622 | \n(6,092) | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance income | \n213,474 | \n80,020 | \n38,048 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance cost | \n(106,862) | \n(45,940) | \n(23,677) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net foreign exchange transactions results | \n218,383 | \n15,654 | \n17,287 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net foreign exchange derivatives contracts results | \n(8,974) | \n(25,666) | \n(7,966) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other | \n(95,044) | \n(30,108) | \n(1,026) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other financial results, net | \n114,365 | \n(40,120) | \n8,295 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net financial results | \n220,977 | \n(6,040) | \n22,666 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n
\n\nFinance Income:
\nIn 2023, 2022 and 2021 includes $61.2 million, $33.0 million and $3.3 million of interest related
\nto instruments carried at FVPL, respectively.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nIn 2022 also includes a realized loss of $10.5 million related to the change in FV of certain financial instruments
\nobtained in an operation of settlement of trade receivables.
\n\n
\n\nIn 2021 also includes $18.0 million of non-financial interest related to PIS and COFINS taxes recovery in Brazilian
\nsubsidiaries. For more information, see note 6 to these Consolidated Financial Statements.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\nNet foreign exchange transactions results:
\nIn 2023 mainly includes result from the Argentine peso depreciation
\nagainst the U.S. dollar on Argentine peso denominated net financial position at subsidiaries with functional currency
\nU.S. dollar, the Brazilian real appreciation against the U.S. dollar on Brazilian denominated net financial position at
\nsubsidiaries with functional currency U.S. dollar, together with the result from Euro appreciation against the U.S.
\ndollar on Euro denominated intercompany liabilities in subsidiaries with functional currency U.S. dollar, offset by an
\nincrease in currency translation adjustment reserve from an Italian subsidiary.
\n
\nIn 2022 mainly includes result from the Argentine peso and Japanese yen depreciation against the U.S. dollar on
\nArgentine peso and Japanese yen denominated net financial position at subsidiaries with functional currency U.S.
\ndollar, together with the result from Euro depreciation against the U.S. dollar on Euro denominated intercompany
\nliabilities in subsidiaries with functional currency U.S. dollar, largely offset by an increase in currency translation
\nadjustment reserve from an Italian subsidiary.
\nIn 2021 mainly includes the result from Euro depreciation against the U.S. dollar on Euro denominated intercompany
\nliabilities in subsidiaries with functional currency U.S. dollar, largely offset by an increase in currency translation
\nadjustment reserve from an Italian subsidiary, together with the result from the Argentine peso and Japanese yen
\ndepreciation against the U.S. dollar on Argentine peso and Japanese yen denominated net financial position at
\nsubsidiaries with functional currency U.S. dollar.
\n
\nNet foreign exchange derivatives contracts results:
\nIn 2023 includes mainly losses on derivatives covering net
\nreceivables in Brazilian real.
\nIn 2022 includes mainly losses on derivatives covering net receivables in Brazilian real and net liabilities in Euro and
\nJapanese yen.
\nIn 2021 includes mainly losses on derivatives covering net liabilities in Euro and Japanese yen, partially offset by
\ngains on derivatives covering net receivables in Brazilian real.
\n
\nOther:
\nIn 2023 includes a net loss of $94.7 million related to the transfer of Argentine sovereign bonds paid as
\ndividend in kind from an Argentinian subsidiary to its shareholders. For more information see note 29.
\n
\nIn 2022 includes a loss of $29.8 million related to the transfer of Argentine sovereign bonds paid as dividend in
\nkind from an Argentinian subsidiary to its shareholders.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag761": {
"value": "\n
\n
\n
\n\n
\n\n
\n\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n2021 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest income | \n201,852 | \n86,112 | \n38,048 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net result on changes in FV of financial assets at FVPL | \n11,622 | \n(6,092) | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance income | \n213,474 | \n80,020 | \n38,048 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance cost | \n(106,862) | \n(45,940) | \n(23,677) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net foreign exchange transactions results | \n218,383 | \n15,654 | \n17,287 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net foreign exchange derivatives contracts results | \n(8,974) | \n(25,666) | \n(7,966) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other | \n(95,044) | \n(30,108) | \n(1,026) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other financial results, net | \n114,365 | \n(40,120) | \n8,295 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net financial results | \n220,977 | \n(6,040) | \n22,666 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n
\n\nFinance Income:
\nIn 2023, 2022 and 2021 includes $61.2 million, $33.0 million and $3.3 million of interest related
\nto instruments carried at FVPL, respectively.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nIn 2022 also includes a realized loss of $10.5 million related to the change in FV of certain financial instruments
\nobtained in an operation of settlement of trade receivables.
\n\n
\n\nIn 2021 also includes $18.0 million of non-financial interest related to PIS and COFINS taxes recovery in Brazilian
\nsubsidiaries. For more information, see note 6 to these Consolidated Financial Statements.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag763": {
"value": "\n
\n\n
\n\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n2021 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest income | \n201,852 | \n86,112 | \n38,048 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net result on changes in FV of financial assets at FVPL | \n11,622 | \n(6,092) | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance income | \n213,474 | \n80,020 | \n38,048 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance cost | \n(106,862) | \n(45,940) | \n(23,677) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net foreign exchange transactions results | \n218,383 | \n15,654 | \n17,287 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net foreign exchange derivatives contracts results | \n(8,974) | \n(25,666) | \n(7,966) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other | \n(95,044) | \n(30,108) | \n(1,026) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other financial results, net | \n114,365 | \n(40,120) | \n8,295 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net financial results | \n220,977 | \n(6,040) | \n22,666 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\nFinance Income:
\nIn 2023, 2022 and 2021 includes $61.2 million, $33.0 million and $3.3 million of interest related
\nto instruments carried at FVPL, respectively.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\nIn 2021 also includes $18.0 million of non-financial interest related to PIS and COFINS taxes recovery in Brazilian
\nsubsidiaries. For more information, see note 6 to these Consolidated Financial Statements.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag770": {
"value": "\n
\n\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n2021 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest income | \n201,852 | \n86,112 | \n38,048 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net result on changes in FV of financial assets at FVPL | \n11,622 | \n(6,092) | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance income | \n213,474 | \n80,020 | \n38,048 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance cost | \n(106,862) | \n(45,940) | \n(23,677) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net foreign exchange transactions results | \n218,383 | \n15,654 | \n17,287 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net foreign exchange derivatives contracts results | \n(8,974) | \n(25,666) | \n(7,966) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other | \n(95,044) | \n(30,108) | \n(1,026) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other financial results, net | \n114,365 | \n(40,120) | \n8,295 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net financial results | \n220,977 | \n(6,040) | \n22,666 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nFinance Income:
\nIn 2023, 2022 and 2021 includes $61.2 million, $33.0 million and $3.3 million of interest related
\nto instruments carried at FVPL, respectively.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nIn 2021 also includes $18.0 million of non-financial interest related to PIS and COFINS taxes recovery in Brazilian
\nsubsidiaries. For more information, see note 6 to these Consolidated Financial Statements.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag759": {
"value": "\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n2021 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest income | \n201,852 | \n86,112 | \n38,048 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net result on changes in FV of financial assets at FVPL | \n11,622 | \n(6,092) | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance income | \n213,474 | \n80,020 | \n38,048 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance cost | \n(106,862) | \n(45,940) | \n(23,677) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net foreign exchange transactions results | \n218,383 | \n15,654 | \n17,287 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net foreign exchange derivatives contracts results | \n(8,974) | \n(25,666) | \n(7,966) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other | \n(95,044) | \n(30,108) | \n(1,026) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other financial results, net | \n114,365 | \n(40,120) | \n8,295 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net financial results | \n220,977 | \n(6,040) | \n22,666 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nNet foreign exchange transactions results:
\nIn 2023 mainly includes result from the Argentine peso depreciation
\nagainst the U.S. dollar on Argentine peso denominated net financial position at subsidiaries with functional currency
\nU.S. dollar, the Brazilian real appreciation against the U.S. dollar on Brazilian denominated net financial position at
\nsubsidiaries with functional currency U.S. dollar, together with the result from Euro appreciation against the U.S.
\ndollar on Euro denominated intercompany liabilities in subsidiaries with functional currency U.S. dollar, offset by an
\nincrease in currency translation adjustment reserve from an Italian subsidiary.
\n
\nIn 2022 mainly includes result from the Argentine peso and Japanese yen depreciation against the U.S. dollar on
\nArgentine peso and Japanese yen denominated net financial position at subsidiaries with functional currency U.S.
\ndollar, together with the result from Euro depreciation against the U.S. dollar on Euro denominated intercompany
\nliabilities in subsidiaries with functional currency U.S. dollar, largely offset by an increase in currency translation
\nadjustment reserve from an Italian subsidiary.
\nIn 2021 mainly includes the result from Euro depreciation against the U.S. dollar on Euro denominated intercompany
\nliabilities in subsidiaries with functional currency U.S. dollar, largely offset by an increase in currency translation
\nadjustment reserve from an Italian subsidiary, together with the result from the Argentine peso and Japanese yen
\ndepreciation against the U.S. dollar on Argentine peso and Japanese yen denominated net financial position at
\nsubsidiaries with functional currency U.S. dollar.
\n
\nNet foreign exchange derivatives contracts results:
\nIn 2023 includes mainly losses on derivatives covering net
\nreceivables in Brazilian real.
\nIn 2022 includes mainly losses on derivatives covering net receivables in Brazilian real and net liabilities in Euro and
\nJapanese yen.
\nIn 2021 includes mainly losses on derivatives covering net liabilities in Euro and Japanese yen, partially offset by
\ngains on derivatives covering net receivables in Brazilian real.
\n
\nOther:
\nIn 2023 includes a net loss of $94.7 million related to the transfer of Argentine sovereign bonds paid as
\ndividend in kind from an Argentinian subsidiary to its shareholders. For more information see note 29.
\n
\nIn 2022 includes a loss of $29.8 million related to the transfer of Argentine sovereign bonds paid as dividend in
\nkind from an Argentinian subsidiary to its shareholders.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag662": {
"value": "\n8 Equity in earnings of non-consolidated companies
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n2021 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| From non-consolidated companies | \n104,897 | \n242,743 | \n512,591 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Remeasurement of previously held interest | \n4,506 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Bargain purchase gain | \n11,487 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Impairment loss on non-consolidated companies | \n - | \n(34,041) | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net loss related to participation increase in Usiminas | \n (25,486) | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n95,404 | \n208,702 | \n512,591 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\nRemeasurement of previously held interest and Bargain purchase gain:
\nFor year ended December 31, 2023, include
\n$4.5 million and $11.5 million related to GPC acquisition. For more information see note 34 \u201cBusiness Combinations
\n-
\nAcquisition of Global Pipe Company
\n\u201d.
\n
\nImpairment loss on non-consolidated companies:
\n For year ended December 31, 2022, $19.1 related to the
\ninvestment in Usiminas and $14.9 related to the joint venture with PAO Severstal (\u201cSeverstal\u201d).
\n
\n
\nNet loss related to participation increase in Usiminas:
\nFor more information see note 14 \u201cInvestments in non-
\nconsolidated companies -
\nUsiminas
\n\u201d.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n14 Investments in non-consolidated companies
\n
\n
\n\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the beginning of the year | \n1,540,646 | \n1,383,774 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation differences | \n110,801 | \n7,336 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Equity in earnings of non-consolidated companies | \n79,411 | \n242,743 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Impairment loss in non-consolidated companies | \n - | \n(34,041) | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Dividends and distributions declared | \n(69,216) | \n(64,189) | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Acquisition of non-consolidated companies | \n22,661 | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Decrease due to step-acquisition | \n(23,453) | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (Decrease) / increase in equity reserves and others | \n(52,046) | \n5,023 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the end of the year | \n1,608,804 | \n1,540,646 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\nEquity in earnings of non-consolidated companies
\n: Includes a loss of $25.5 related to the participation increase in
\nUsiminas and does not include $4.5 million and $11.5 million related to GPC acquisition since May 17, 2023, which
\nis the date of its consolidation. For more information see note 34 \u201cBusiness Combinations -
\nAcquisition of Global
\nPipe Company
\n\u201d.
\n
\nImpairment loss in non-consolidated companies
\n: Includes an impairment of $19.1 million related to the investment
\nin Usiminas and $14.9 million related to the joint venture with PAO Severstal (\u201cSeverstal\u201d).
\n
\nDividends and distributions declared
\n: Related to Ternium and Usiminas. During 2023 and 2022 $68.8 million and
\n$66.2 million respectively were collected.
\n
\nAcquisition of non-consolidated companies
\n: Related to the investment in Usiminas.
\n
\nDecrease due to step-acquisition
\n:
\n
\nRelated to GPC acquisition. For more information see note 34.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\nThe principal non-consolidated companies are:
\n
\n
\n
\n\n
\n\n\n | \n | \n% ownership at December 31, | \nBook value at December 31, | \n\n\n\n
\n\n| Company | \nCountry of incorporation | \n2023 | \n2022 | \n2023 | \n2022 | \n\n\n\n
\n\n| a) Ternium (*) | \nLuxembourg | \n11.46% | \n11.46% | \n1,430,616 | \n1,363,607 | \n\n\n\n
\n\n| b) Usiminas (**) | \nBrazil | \n3.96% | \n3.07% | \n123,654 | \n109,534 | \n\n\n\n
\n\n| c) Techgen | \nMexico | \n22.00% | \n22.00% | \n53,556 | \n41,506 | \n\n\n\n
\n\n| d) Global Pipe Company (***) | \nSaudi Arabia | \n57.30% | \n35.00% | \n - | \n23,022 | \n\n\n\n
\n\n| Others | \n | \n | \n | \n978 | \n2,977 | \n\n\n\n
\n\n | \n | \n | \n | \n1,608,804 | \n1,540,646 | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(*)
\n Including treasury shares.
\n
\n(**)
\n At December 31, 2023 the voting rights were 6.76% and at December 31, 2022 were 5.19%.
\n
\n(***)
\n Consolidated as from May 17, 2023.
\n
\na) Ternium
\n
\nTernium is a steel producer with production facilities in Mexico, Brazil, Argentina, Colombia, the Southern United
\nStates and Central America and is one of Tenaris\u2019s main suppliers of round steel bars and flat steel products for its
\npipes business.
\n
\nAt December 31, 2023, the closing price of Ternium\u2019s ADSs as quoted on the New York Stock Exchange was $42.47
\nper ADS, giving Tenaris\u2019s ownership stake a market value of approximately $975.6 million. At December 31, 2023,
\nthe carrying value of Tenaris\u2019s ownership stake in Ternium, based on Ternium\u2019s IFRS Financial Statements, was
\napproximately $1,430.6 million. The Company reviews its participation in Ternium whenever events or
\ncircumstances indicate that the asset\u2019s carrying amount may not be recoverable. As of December 31, 2023, the
\nCompany concluded that the carrying amount does not exceed the recoverable value of the investment.
\n
\nSummarized selected financial information of Ternium, including the aggregated amounts of assets, liabilities,
\nrevenues and profit or loss is as follows:
\n
\n
\n\n
\n\n\n | \nTernium | \n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n
\n\n| Non-current assets | \n12,148,560 | \n8,647,510 | \n\n\n\n
\n\n| Current assets | \n12,030,544 | \n8,844,038 | \n\n\n\n
\n\n| Total assets | \n24,179,104 | \n17,491,548 | \n\n\n\n
\n\n| Non-current liabilities | \n3,566,643 | \n1,506,325 | \n\n\n\n
\n\n| Current liabilities | \n3,800,602 | \n2,216,832 | \n\n\n\n
\n\n| Total liabilities | \n7,367,245 | \n3,723,157 | \n\n\n\n
\n\n| Total equity | \n16,811,859 | \n13,768,391 | \n\n\n\n
\n\n| Non-controlling interests | \n4,393,264 | \n1,922,434 | \n\n\n\n
\n\n| Revenues | \n17,610,092 | \n16,414,466 | \n\n\n\n
\n\n| Gross profit | \n3,559,355 | \n3,927,184 | \n\n\n\n
\n\n| Net income for the year attributable to shareholders' equity | \n676,043 | \n1,767,516 | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
\n
\n
\n
\n
\nb) Usiminas
\n
\nUsiminas is a Brazilian producer of high quality flat steel products used in the energy, automotive and other
\nindustries.
\n
\nAt December 31, 2023, the closing price of the Usiminas\u2019 ordinary and preferred shares, as quoted on the B3 -
\nBrasil Bolsa Balc\u00e3o S.A, was BRL9.20 ($1.90) and BRL9.29 ($1.92), respectively, giving Tenaris\u2019s ownership stake a
\nmarket value of approximately $92.7 million. As of that date, the carrying value of Tenaris\u2019s ownership stake in
\nUsiminas was approximately $123.7 million.
\n
\nFollowing the acquisition of shares referred to in note II.B.2).b) and considering the carrying value of the previously
\nheld interest, the price paid for the acquisition of the additional Usiminas shares and the fair value measurement of
\nthe Usiminas shares (conducted at the T/T Group level) the Company recorded a net loss of $25.5 million included
\nin Equity in (losses) earnings of non-consolidated companies in the Consolidated Income Statement.
\n
\n\n\n\n\n\n
\n\n\n\n\n\n
\n\nThe Company reviews its participation in Usiminas whenever events or circumstances indicate that the asset\u2019s
\ncarrying amount may not be recoverable. As of December 31, 2023, the Company concluded that the carrying
\namount did not exceed the recoverable value of the investment.
\n
\nSummarized selected financial information of Usiminas, including the aggregated amounts of assets, liabilities,
\nrevenues and profit or loss is as follows:
\n
\n
\n\n
\n\n\n | \nUsiminas | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Non-current assets | \n4,591,763 | \n3,764,453 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Current assets | \n3,589,129 | \n3,901,844 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total assets | \n8,180,892 | \n7,666,297 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Non-current liabilities | \n1,672,676 | \n1,671,249 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Current liabilities | \n1,139,031 | \n1,033,524 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total liabilities | \n2,811,706 | \n2,704,773 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total equity | \n5,369,186 | \n4,961,524 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Non-controlling interests | \n556,418 | \n523,741 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Revenues | \n5,531,985 | \n6,296,964 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Gross profit | \n357,845 | \n1,110,439 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net income for the year attributable to shareholders' equity | \n278,402 | \n319,979 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nc) Techgen
\n
\nTechgen is a Mexican company that operates a natural gas-fired combined cycle electric power plant in the Pesquer\u00eda
\narea of the State of Nuevo Le\u00f3n, Mexico, with a power capacity of 900 megawatts. As of December 31, 2023,
\nTenaris held 22% of Techgen\u2019s share capital, and its affiliates, Ternium and Tecpetrol (both controlled by San
\nFaustin), beneficially owned 48% and 30% respectively. As of December 31, 2023, the carrying value of Tenaris\u2019s
\nownership stake in Techgen was approximately $53.6 million.
\n
\nTechgen entered into certain transportation capacity agreements and an agreement for the purchase of clean
\nenergy certificates. As of December 31, 2023, Tenaris\u2019s exposure under these agreements amounted to $39.4
\nmillion and $16.9 million respectively.
\n
\nTechgen\u2019s sponsors granted certain subordinated loans to Techgen. As of December 31, 2023, the aggregate
\noutstanding principal amount under these subordinated loans was $281.3 million, of which $61.9 million
\ncorrespond to Tenaris\u2019s contribution.
\n
\nOn February 13, 2019, Techgen entered into a $640 million syndicated loan agreement with several banks to
\nrefinance an existing loan, resulting in the release of certain corporate guarantees previously issued by Techgen\u2019s
\nshareholders to secure the replaced facility.
\n
\nThe existing syndicated loan agreement is \u201cnon-recourse\u201d on the sponsors. Techgen\u2019s obligations thereunder are
\nguaranteed by a Mexican security trust (covering shares, assets, accounts and contract rights), account pledges and
\ncertain direct agreements \u2013customary for these type of transactions\u2013. The commercial terms and conditions
\ngoverning the purchase by the Company\u2019s Mexican subsidiary, Tamsa, of 22% of the energy generated by Techgen
\nremain substantially unchanged.
\n
\nUnder the loan agreement, Techgen is committed to maintain a debt service reserve account covering debt service
\nbecoming due during two consecutive quarters; such account is funded by stand-by letters of credit issued for the
\naccount of Techgen\u2019s sponsors in proportion to their respective participations in Techgen. Accordingly, the
\nCompany applied for stand-by letters of credit covering 22% of the debt service coverage ratio, which as of
\nDecember 31, 2023, amounted to $10.9 million.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nd) GPC
\n
\nGPC is a joint venture established in 2010 and located in Jubail, Saudi Arabia, which manufactures LSAW pipes.
\nUntil May 16, 2023, Tenaris, through its subsidiary SSPC, owned 35% of the share capital of GPC and, accordingly,
\nGPC was a non-consolidated company. On May 17, 2023, SSPC acquired an additional 22.3% interest in GPC
\nreaching a participation of 57.3%. The Company consolidates GPC\u2019s balances and results of operations as from
\nMay 17, 2023. For more information on GPC acquisition and its accounting treatment see note 34 \u201cBusiness
\nCombinations -
\nGlobal Pipe Company acquisition
\n\u201d.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag663": {
"value": "\n9 Income tax
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n2021 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Current tax | \n(868,695) | \n(589,706) | \n(215,467) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Deferred tax | \n193,739 | \n(27,530) | \n26,019 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Tax charge | \n(674,956) | \n(617,236) | \n(189,448) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\nNo current tax impacts have arisen in the current Consolidated Financial Statements as of December 31, 2023, due
\nto the application of Pillar Two rules, as they will be applicable as from 2024 in jurisdictions relevant for the
\nCompany.
\n
\nIn addition, the Company has applied the exception prescribed by the amendments to IAS 12, and therefore it has
\nnot recognized any deferred tax impact from the Pillar Two application.
\n
\nThe Company is in the process of assessing its exposure to the Pillar Two legislation and testing its situation under
\nthe OECD transitional safe harbour rules and expects no major impacts in relation to top-up tax due to the
\napplication of one or more of the transitional safe harbour rules.
\n
\nDue to the complexities in applying the legislation and calculating GloBE income, the quantitative impact of the
\nenacted legislation is not yet reasonably estimable.
\n
\nThe tax on Tenaris\u2019s income before tax differs from the theoretical amount that would arise using the tax rate in
\neach country as follows:
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n2021 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Income before income tax | \n4,632,789 | \n3,165,937 | \n1,242,766 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Less impairment charges (non-deductible) | \n - | \n - | \n57,075 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Income before income tax without impairment charges | \n4,632,789 | \n3,165,937 | \n1,299,841 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Tax calculated at the tax rate in each country | \n(1,127,428) | \n(705,727) | \n(209,765) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Effect of currency translation on tax base | \n(346,573) | \n(187,186) | \n(76,043) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Changes in the tax rates | \n1,535 | \n(3,422) | \n(29,881) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Utilization of previously unrecognized tax losses | \n787 | \n29,560 | \n966 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Tax revaluation, withholding tax and others | \n796,723 | \n249,539 | \n125,275 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Tax charges | \n(674,956) | \n(617,236) | \n(189,448) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nEffect of currency translation on tax base:
\n Tenaris applies the liability method to recognize deferred income tax on
\ntemporary differences between the tax bases of assets / liabilities and their carrying amounts in the financial
\nstatements. By application of this method, Tenaris recognizes gains and losses on deferred income tax due to the
\neffect of the change in the value on the tax bases in subsidiaries (mainly Argentina and Mexico), which have a
\nfunctional currency different than their local currency. These gains and losses are required by IFRS even though the
\nrevalued / devalued tax bases of the relevant assets will not result in any deduction / obligation for tax purposes in
\nfuture periods.
\n
\nChanges in the tax rates:
\n For the year 2021, includes mainly the effect of the increase in the corporate income tax
\nrate in Argentina from 25% to 35%.
\n
\nTax revaluation, withholding tax and others:
\n Includes a net tax income of $349.0 million, $250.4 million and $113.2
\nmillion for 2023, 2022 and 2021 respectively related to the tax revaluation regimes in Argentina and Mexico. It also
\nincludes a charge of $164.3 million, $21.0 million and $22.6 million for 2023, 2022 and 2021 respectively related
\nto withholding taxes for intra-group international operations. Additionally, it includes $550.3 million tax income for
\n2023 related to the recognition deferred tax assets due to previous years\u2019 tax losses carried forward in Luxembourg.
\nFor more information see note 22.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag665": {
"value": "\n10 Dividends distribution
\n
\nOn November 1, 2023, the Company\u2019s Board of Directors approved an interim dividend of $0.20 per outstanding
\nshare ($0.40 per ADS), or approximately $235 million, paid on November 22, 2023, with an ex-dividend date of
\nNovember 20, 2023.
\n
\nOn May 3, 2023, the Company\u2019s shareholders approved an annual dividend in the amount of $0.51 per share
\n($1.02 per ADS). The amount approved by the shareholders included the interim dividend previously paid on
\nNovember 23, 2022 in the amount of $0.17 per share ($0.34 per ADS). The balance, amounting to $0.34 per share
\n($0.68 per ADS), was paid on May 24, 2023, for an amount of approximately $401 million. In the aggregate, the
\ninterim dividend paid in November 2022 and the balance paid in May 2023 amounted to approximately $602
\nmillion.
\n
\nOn May 3, 2022, the Company\u2019s shareholders approved an annual dividend in the amount of $0.41 per share
\n($0.82 per ADS). The amount approved included the interim dividend previously paid on November 24, 2021 in the
\namount of $0.13 per share ($0.26 per ADS). The balance, amounting to $0.28 per share ($0.56 per ADS), was paid
\non May 25, 2022, for an amount of approximately $331 million. In the aggregate, the interim dividend paid in
\nNovember 2021 and the balance paid in May 2022 amounted to approximately $484 million.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDividendsExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag939": {
"value": "0.2",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-11-22T00:00:00/2023-11-23T00:00:00",
"unit": "iso4217:USD/xbrli:shares"
}
},
"Tag666": {
"value": "\n
\n11 Property, plant and equipment, net
\n
\n\n
\n\n\n
| \n
| \n
| \n
| \n
| \n
| \n
| \n\n\n\n\n\n\n\n\n
\n\n | \n | \nIndustrial | \nVehicles, | \n | \n | \n | \n\n\n\n\n\n\n\n\n
\n\n | \nLand and | \nbuildings, | \nfurniture | \nWork in | \nSpare | \n | \n\n\n\n\n\n\n\n\n
\n\n | \ncivil | \nplant and | \nand | \nprogress | \nparts and | \nTotal | \n\n\n\n\n\n\n\n\n
\n\n | \nbuildings | \nproduction | \nfixtures | \n | \nequipment | \n | \n\n\n\n\n\n\n\n\n
\n\n| Year ended December 31, 2023 | \n | \nequipment | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n
\n\n| Cost | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n
\n\n| Values at the beginning of the year | \n815,763 | \n12,857,494 | \n402,485 | \n252,379 | \n55,526 | \n14,383,647 | \n\n\n\n\n\n\n\n\n
\n\n| Currency translation adjustment | \n1,863 | \n53,282 | \n1,675 | \n1,462 | \n199 | \n58,481 | \n\n\n\n\n\n\n\n\n
\n\n| Increase due to business combinations (*) | \n64,413 | \n256,899 | \n831 | \n71,838 | \n - | \n393,981 | \n\n\n\n\n\n\n\n\n
\n\n| Additions | \n330 | \n3,661 | \n820 | \n546,515 | \n19,671 | \n570,997 | \n\n\n\n\n\n\n\n\n
\n\n| Transfers / Reclassifications | \n12,031 | \n435,550 | \n22,530 | \n(471,381) | \n - | \n(1,270) | \n\n\n\n\n\n\n\n\n
\n\n| Disposals / Consumptions | \n(4,443) | \n(68,613) | \n(11,428) | \n(4,710) | \n(3,562) | \n(92,756) | \n\n\n\n\n\n\n\n\n
\n\n| Values at the end of the year | \n889,957 | \n13,538,273 | \n416,913 | \n396,103 | \n71,834 | \n15,313,080 | \n\n\n\n\n\n\n\n\n
\n\n| Depreciation and impairment | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n
\n\n| Accumulated at the beginning of the year | \n152,272 | \n8,313,971 | \n340,526 | \n - | \n20,615 | \n8,827,384 | \n\n\n\n\n\n\n\n\n
\n\n| Currency translation adjustment | \n390 | \n38,074 | \n1,584 | \n - | \n105 | \n40,153 | \n\n\n\n\n\n\n\n\n
\n\n| Depreciation charge | \n12,256 | \n411,861 | \n19,839 | \n - | \n1,934 | \n445,890 | \n\n\n\n\n\n\n\n\n
\n\n| Transfers / Reclassifications | \n(16) | \n(391) | \n27 | \n - | \n - | \n(380) | \n\n\n\n\n\n\n\n\n
\n\n| Disposals / Consumptions | \n(8) | \n(67,471) | \n(10,667) | \n - | \n - | \n(78,146) | \n\n\n\n\n\n\n\n\n
\n\n| Accumulated at the end of the year | \n164,894 | \n8,696,044 | \n351,309 | \n - | \n22,654 | \n9,234,901 | \n\n\n\n\n\n\n\n\n
\n\n| At December 31, 2023 | \n725,063 | \n4,842,229 | \n65,604 | \n396,103 | \n49,180 | \n6,078,179 | \n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(*)
\nRelated to the GPC, Isoplus anticorrosion coating division, Republic Tube LLC\u2019s OCTG pipe processing facility and Mattr\u2019s pipe coating business
\nunit acquisitions. For more information see note 34.
\n
\n\n
\n\n\n | \n | \nIndustrial | \nVehicles, | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nLand and | \nbuildings, | \nfurniture | \nWork in | \nSpare | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \ncivil | \nplant and | \nand | \nprogress | \nparts and | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nbuildings | \nproduction | \nfixtures | \n | \nequipment | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Year ended December 31, 2022 | \n | \nequipment | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cost | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Values at the beginning of the year | \n830,104 | \n13,064,541 | \n420,930 | \n147,429 | \n59,522 | \n14,522,526 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Currency translation adjustment | \n(1,601) | \n(71,347) | \n(1,838) | \n376 | \n(174) | \n(74,584) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Increase due to business combinations (*) | \n - | \n - | \n - | \n187 | \n - | \n187 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Additions | \n - | \n2,271 | \n734 | \n334,912 | \n8,150 | \n346,067 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Transfers / Reclassifications | \n9,829 | \n184,915 | \n16,221 | \n(227,153) | \n - | \n(16,188) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Disposals / Consumptions | \n(22,569) | \n(322,886) | \n(33,562) | \n(3,372) | \n(11,972) | \n(394,361) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Values at the end of the year | \n815,763 | \n12,857,494 | \n402,485 | \n252,379 | \n55,526 | \n14,383,647 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation and impairment | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated at the beginning of the year | \n139,941 | \n8,199,724 | \n353,639 | \n - | \n4,421 | \n8,697,725 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Currency translation adjustment | \n(289) | \n(51,283) | \n(1,756) | \n - | \n130 | \n(53,198) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation charge | \n13,577 | \n432,648 | \n21,022 | \n - | \n20,485 | \n487,732 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Transfers / Reclassifications | \n(2) | \n(21,506) | \n(215) | \n - | \n - | \n(21,723) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Impairment charge (See note 5) | \n - | \n75,722 | \n321 | \n - | \n - | \n76,043 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Disposals / Consumptions | \n(955) | \n(321,334) | \n(32,485) | \n - | \n(4,421) | \n(359,195) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated at the end of the year | \n152,272 | \n8,313,971 | \n340,526 | \n - | \n20,615 | \n8,827,384 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At December 31, 2022 | \n663,491 | \n4,543,523 | \n61,959 | \n252,379 | \n34,911 | \n5,556,263 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(*)
\nRelated to Parques E\u00f3licos de la Buena Ventura S.A. acquisition.
\n
\nSee note 28 for a description of certain restricted assets with a carrying value of $56.2 million held in Saudi Arabia
\nby the Company\u2019s subsidiary SSPC, in which Tenaris holds a 47.79% interest.
\n
\nProperty, plant and equipment include capitalized interests for net amounts at December 31, 2023 and 2022 of
\n$28.8 million and $30.4 million, respectively. There were no new interests capitalized during 2023 and 2022.
\n
\nGovernment grants recognized as a reduction of property, plant and equipment were not material for the years
\n2023 and 2022.
\n
\nFor the year 2023, the carrying amount of assets pledged as security for current and non-current borrowings
\namounted to $89.6 million held in Saudi Arabia by the Company\u00b4s subsidiary GPC, in which SSPC holds a 57.3%
\ninterest.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nFor the year 2022, the carrying amount of assets pledged as security for current and non-current borrowings were
\nnot material.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag668": {
"value": "\n
\n
\n
\n\n
\n\n12 Intangible assets, net
\n
\n\n
\n\n\n | \nInformation | \nLicenses, | \n | \nCustomer | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nsystem | \npatents and | \nGoodwill | \nrelationships | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Year ended December 31, 2023 | \nprojects | \ntrademarks(*) | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cost | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Values at the beginning of the year | \n614,474 | \n550,991 | \n2,469,726 | \n1,762,042 | \n5,397,233 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Currency translation adjustment | \n2,233 | \n2 | \n39 | \n - | \n2,274 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Increase due to business combinations (**) | \n105 | \n116 | \n18,616 | \n28,638 | \n47,475 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Additions | \n39,375 | \n9,073 | \n - | \n - | \n48,448 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Transfers / Reclassifications | \n437 | \n367 | \n - | \n - | \n804 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Disposals | \n(7,737) | \n - | \n - | \n - | \n(7,737) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Values at the end of the year | \n648,887 | \n560,549 | \n2,488,381 | \n1,790,680 | \n5,488,497 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Amortization and impairment | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated at the beginning of the | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| year | \n561,119 | \n398,417 | \n1,384,674 | \n1,720,515 | \n4,064,725 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Currency translation adjustment | \n2,140 | \n1 | \n - | \n - | \n2,141 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Amortization charge | \n21,285 | \n8,799 | \n - | \n22,259 | \n52,343 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Transfers / Reclassifications | \n(86) | \n - | \n - | \n - | \n(86) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Disposals | \n(7,736) | \n - | \n - | \n - | \n(7,736) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated at the end of the year | \n576,722 | \n407,217 | \n1,384,674 | \n1,742,774 | \n4,111,387 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At December 31, 2023 | \n72,165 | \n153,332 | \n1,103,707 | \n47,906 | \n1,377,110 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(*)
\nIncludes Proprietary Technology.
\n
\n(**)
\nRelated to the GPC, Isoplus anticorrosion coating division, Republic Tube LLC\u2019s OCTG pipe processing facility and Mattr\u2019s pipe coating business
\nunit acquisitions. For more information see note 34.
\n
\n
\n\n
\n\n\n | \nInformation | \nLicenses, | \n | \nCustomer | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nsystem | \npatents and | \nGoodwill | \nrelationships | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Year ended December 31, 2022 | \nprojects | \ntrademarks (*) | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cost | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Values at the beginning of the year | \n650,155 | \n547,527 | \n2,468,638 | \n2,211,151 | \n5,877,471 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Currency translation adjustment | \n(2,626) | \n - | \n1,088 | \n - | \n(1,538) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Increase due to business combinations (**) | \n - | \n4,019 | \n - | \n - | \n4,019 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Additions | \n31,427 | \n952 | \n - | \n - | \n32,379 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Transfers / Reclassifications | \n(5,535) | \n - | \n - | \n - | \n(5,535) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Disposals (***) | \n(58,947) | \n(1,507) | \n - | \n(449,109) | \n(509,563) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Values at the end of the year | \n614,474 | \n550,991 | \n2,469,726 | \n1,762,042 | \n5,397,233 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Amortization and impairment | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated at the beginning of the | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| year | \n599,307 | \n391,223 | \n1,383,994 | \n2,130,771 | \n4,505,295 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Currency translation adjustment | \n(2,496) | \n - | \n - | \n - | \n(2,496) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Amortization charge | \n23,218 | \n8,701 | \n - | \n38,853 | \n70,772 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Impairment charge (See note 5) | \n2 | \n - | \n680 | \n - | \n682 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Disposals (***) | \n(58,912) | \n(1,507) | \n - | \n(449,109) | \n(509,528) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated at the end of the year | \n561,119 | \n398,417 | \n1,384,674 | \n1,720,515 | \n4,064,725 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At December 31, 2022 | \n53,355 | \n152,574 | \n1,085,052 | \n41,527 | \n1,332,508 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(*)
\nIncludes Proprietary Technology.
\n
\n(**)
\nRelated to Parques E\u00f3licos de la Buena Ventura S.A. acquisition.
\n
\n(***)
\nMainly related to fully depreciated assets following the deconsolidation of a Canadian subsidiary of the Company.
\n
\n
\nThe geographical allocation of goodwill for the year ended December 31, 2023 was $944.2 million for North
\nAmerica, $111.0 million for South America, $33.0 million for Asia Pacific, Middle East & Africa and $15.5 million
\nfor Europe.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n\nThe carrying amount of goodwill allocated by CGU, as of December 31, 2023, was as follows:
\n
\n(all amounts in millions of U.S. dollars)
\n
\n
\n
\n
\n
\n\n
\n\n\n | \nTubes Segment | \nOther Segment | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| CGU | \nHydril Acquisition | \nOther | \nOther | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Tamsa | \n346 | \n19 | \n - | \n365 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Siderca | \n265 | \n93 | \n - | \n358 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Hydril | \n309 | \n - | \n - | \n309 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other | \n - | \n58 | \n14 | \n71 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total | \n920 | \n170 | \n14 | \n1,104 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag683": {
"value": "\n
\n\n12 Intangible assets, net
\n
\n\n
\n\n\n | \nInformation | \nLicenses, | \n | \nCustomer | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nsystem | \npatents and | \nGoodwill | \nrelationships | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Year ended December 31, 2023 | \nprojects | \ntrademarks(*) | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cost | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Values at the beginning of the year | \n614,474 | \n550,991 | \n2,469,726 | \n1,762,042 | \n5,397,233 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Currency translation adjustment | \n2,233 | \n2 | \n39 | \n - | \n2,274 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Increase due to business combinations (**) | \n105 | \n116 | \n18,616 | \n28,638 | \n47,475 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Additions | \n39,375 | \n9,073 | \n - | \n - | \n48,448 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Transfers / Reclassifications | \n437 | \n367 | \n - | \n - | \n804 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Disposals | \n(7,737) | \n - | \n - | \n - | \n(7,737) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Values at the end of the year | \n648,887 | \n560,549 | \n2,488,381 | \n1,790,680 | \n5,488,497 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Amortization and impairment | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated at the beginning of the | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| year | \n561,119 | \n398,417 | \n1,384,674 | \n1,720,515 | \n4,064,725 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Currency translation adjustment | \n2,140 | \n1 | \n - | \n - | \n2,141 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Amortization charge | \n21,285 | \n8,799 | \n - | \n22,259 | \n52,343 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Transfers / Reclassifications | \n(86) | \n - | \n - | \n - | \n(86) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Disposals | \n(7,736) | \n - | \n - | \n - | \n(7,736) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated at the end of the year | \n576,722 | \n407,217 | \n1,384,674 | \n1,742,774 | \n4,111,387 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At December 31, 2023 | \n72,165 | \n153,332 | \n1,103,707 | \n47,906 | \n1,377,110 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(*)
\nIncludes Proprietary Technology.
\n
\n(**)
\nRelated to the GPC, Isoplus anticorrosion coating division, Republic Tube LLC\u2019s OCTG pipe processing facility and Mattr\u2019s pipe coating business
\nunit acquisitions. For more information see note 34.
\n
\n
\n\n
\n\n\n | \nInformation | \nLicenses, | \n | \nCustomer | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nsystem | \npatents and | \nGoodwill | \nrelationships | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Year ended December 31, 2022 | \nprojects | \ntrademarks (*) | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cost | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Values at the beginning of the year | \n650,155 | \n547,527 | \n2,468,638 | \n2,211,151 | \n5,877,471 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Currency translation adjustment | \n(2,626) | \n - | \n1,088 | \n - | \n(1,538) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Increase due to business combinations (**) | \n - | \n4,019 | \n - | \n - | \n4,019 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Additions | \n31,427 | \n952 | \n - | \n - | \n32,379 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Transfers / Reclassifications | \n(5,535) | \n - | \n - | \n - | \n(5,535) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Disposals (***) | \n(58,947) | \n(1,507) | \n - | \n(449,109) | \n(509,563) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Values at the end of the year | \n614,474 | \n550,991 | \n2,469,726 | \n1,762,042 | \n5,397,233 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Amortization and impairment | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated at the beginning of the | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| year | \n599,307 | \n391,223 | \n1,383,994 | \n2,130,771 | \n4,505,295 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Currency translation adjustment | \n(2,496) | \n - | \n - | \n - | \n(2,496) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Amortization charge | \n23,218 | \n8,701 | \n - | \n38,853 | \n70,772 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Impairment charge (See note 5) | \n2 | \n - | \n680 | \n - | \n682 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Disposals (***) | \n(58,912) | \n(1,507) | \n - | \n(449,109) | \n(509,528) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated at the end of the year | \n561,119 | \n398,417 | \n1,384,674 | \n1,720,515 | \n4,064,725 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At December 31, 2022 | \n53,355 | \n152,574 | \n1,085,052 | \n41,527 | \n1,332,508 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(*)
\nIncludes Proprietary Technology.
\n
\n(**)
\nRelated to Parques E\u00f3licos de la Buena Ventura S.A. acquisition.
\n
\n(***)
\nMainly related to fully depreciated assets following the deconsolidation of a Canadian subsidiary of the Company.
\n
\n
\nThe geographical allocation of goodwill for the year ended December 31, 2023 was $944.2 million for North
\nAmerica, $111.0 million for South America, $33.0 million for Asia Pacific, Middle East & Africa and $15.5 million
\nfor Europe.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\nThe carrying amount of goodwill allocated by CGU, as of December 31, 2023, was as follows:
\n
\n(all amounts in millions of U.S. dollars)
\n
\n
\n
\n
\n
\n\n
\n\n\n | \nTubes Segment | \nOther Segment | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| CGU | \nHydril Acquisition | \nOther | \nOther | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Tamsa | \n346 | \n19 | \n - | \n365 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Siderca | \n265 | \n93 | \n - | \n358 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Hydril | \n309 | \n - | \n - | \n309 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other | \n - | \n58 | \n14 | \n71 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total | \n920 | \n170 | \n14 | \n1,104 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag682": {
"value": "\n12 Intangible assets, net
\n
\n\n
\n\n\n | \nInformation | \nLicenses, | \n | \nCustomer | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nsystem | \npatents and | \nGoodwill | \nrelationships | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Year ended December 31, 2023 | \nprojects | \ntrademarks(*) | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cost | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Values at the beginning of the year | \n614,474 | \n550,991 | \n2,469,726 | \n1,762,042 | \n5,397,233 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Currency translation adjustment | \n2,233 | \n2 | \n39 | \n - | \n2,274 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Increase due to business combinations (**) | \n105 | \n116 | \n18,616 | \n28,638 | \n47,475 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Additions | \n39,375 | \n9,073 | \n - | \n - | \n48,448 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Transfers / Reclassifications | \n437 | \n367 | \n - | \n - | \n804 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Disposals | \n(7,737) | \n - | \n - | \n - | \n(7,737) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Values at the end of the year | \n648,887 | \n560,549 | \n2,488,381 | \n1,790,680 | \n5,488,497 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Amortization and impairment | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated at the beginning of the | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| year | \n561,119 | \n398,417 | \n1,384,674 | \n1,720,515 | \n4,064,725 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Currency translation adjustment | \n2,140 | \n1 | \n - | \n - | \n2,141 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Amortization charge | \n21,285 | \n8,799 | \n - | \n22,259 | \n52,343 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Transfers / Reclassifications | \n(86) | \n - | \n - | \n - | \n(86) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Disposals | \n(7,736) | \n - | \n - | \n - | \n(7,736) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated at the end of the year | \n576,722 | \n407,217 | \n1,384,674 | \n1,742,774 | \n4,111,387 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At December 31, 2023 | \n72,165 | \n153,332 | \n1,103,707 | \n47,906 | \n1,377,110 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(*)
\nIncludes Proprietary Technology.
\n
\n(**)
\nRelated to the GPC, Isoplus anticorrosion coating division, Republic Tube LLC\u2019s OCTG pipe processing facility and Mattr\u2019s pipe coating business
\nunit acquisitions. For more information see note 34.
\n
\n
\n\n
\n\n\n | \nInformation | \nLicenses, | \n | \nCustomer | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nsystem | \npatents and | \nGoodwill | \nrelationships | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Year ended December 31, 2022 | \nprojects | \ntrademarks (*) | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cost | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Values at the beginning of the year | \n650,155 | \n547,527 | \n2,468,638 | \n2,211,151 | \n5,877,471 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Currency translation adjustment | \n(2,626) | \n - | \n1,088 | \n - | \n(1,538) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Increase due to business combinations (**) | \n - | \n4,019 | \n - | \n - | \n4,019 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Additions | \n31,427 | \n952 | \n - | \n - | \n32,379 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Transfers / Reclassifications | \n(5,535) | \n - | \n - | \n - | \n(5,535) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Disposals (***) | \n(58,947) | \n(1,507) | \n - | \n(449,109) | \n(509,563) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Values at the end of the year | \n614,474 | \n550,991 | \n2,469,726 | \n1,762,042 | \n5,397,233 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Amortization and impairment | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated at the beginning of the | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| year | \n599,307 | \n391,223 | \n1,383,994 | \n2,130,771 | \n4,505,295 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Currency translation adjustment | \n(2,496) | \n - | \n - | \n - | \n(2,496) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Amortization charge | \n23,218 | \n8,701 | \n - | \n38,853 | \n70,772 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Impairment charge (See note 5) | \n2 | \n - | \n680 | \n - | \n682 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Disposals (***) | \n(58,912) | \n(1,507) | \n - | \n(449,109) | \n(509,528) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated at the end of the year | \n561,119 | \n398,417 | \n1,384,674 | \n1,720,515 | \n4,064,725 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At December 31, 2022 | \n53,355 | \n152,574 | \n1,085,052 | \n41,527 | \n1,332,508 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(*)
\nIncludes Proprietary Technology.
\n
\n(**)
\nRelated to Parques E\u00f3licos de la Buena Ventura S.A. acquisition.
\n
\n(***)
\nMainly related to fully depreciated assets following the deconsolidation of a Canadian subsidiary of the Company.
\n
\n
\nThe geographical allocation of goodwill for the year ended December 31, 2023 was $944.2 million for North
\nAmerica, $111.0 million for South America, $33.0 million for Asia Pacific, Middle East & Africa and $15.5 million
\nfor Europe.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nThe carrying amount of goodwill allocated by CGU, as of December 31, 2023, was as follows:
\n
\n(all amounts in millions of U.S. dollars)
\n
\n
\n
\n
\n
\n\n
\n\n\n | \nTubes Segment | \nOther Segment | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| CGU | \nHydril Acquisition | \nOther | \nOther | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Tamsa | \n346 | \n19 | \n - | \n365 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Siderca | \n265 | \n93 | \n - | \n358 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Hydril | \n309 | \n - | \n - | \n309 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other | \n - | \n58 | \n14 | \n71 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total | \n920 | \n170 | \n14 | \n1,104 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGoodwillExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag669": {
"value": "\n13 Right-of-use assets, net and lease liabilities
\n
\nRight of use assets evolution
\n
\n\n
\n\n\n | \n | \nIndustrial | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nLand and | \nBuildings, | \nVehicles, | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nCivil | \nPlant and | \nfurniture and | \nOthers | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nBuildings | \nProduction | \nfixtures | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Year ended December 31, 2023 | \n | \nEquipment | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cost | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Opening net book amount | \n43,570 | \n125,677 | \n30,291 | \n1,182 | \n200,720 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Currency translation adjustment | \n99 | \n243 | \n263 | \n - | \n605 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Increase due to business combinations (*) | \n11,803 | \n37 | \n46 | \n - | \n11,886 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Additions | \n13,040 | \n30,066 | \n15,732 | \n2,486 | \n61,324 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Transfers / Reclassifications | \n691 | \n - | \n(691) | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Disposals | \n(2,739) | \n(7,643) | \n(2,424) | \n - | \n(12,806) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At December 31, 2023 | \n66,464 | \n148,380 | \n43,217 | \n3,668 | \n261,729 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated at the beginning of the year | \n18,933 | \n52,794 | \n17,042 | \n210 | \n88,979 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Currency translation adjustment | \n34 | \n134 | \n200 | \n - | \n368 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation charge | \n9,663 | \n29,685 | \n10,316 | \n613 | \n50,277 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Transfers / Reclassifications | \n691 | \n - | \n(691) | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Disposals | \n(1,349) | \n(7,046) | \n(1,638) | \n - | \n(10,033) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated at the end of the year | \n27,972 | \n75,567 | \n25,229 | \n823 | \n129,591 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At December 31, 2023 | \n38,492 | \n72,813 | \n17,988 | \n2,845 | \n132,138 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(*)
\nRelated to the GPC and Mattr\u2019s pipe coating business unit acquisitions. For more information see note 34.
\n
\n
\n\n
\n\n\n | \n | \nIndustrial | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nLand and | \nBuildings, | \nVehicles, | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nCivil | \nPlant and | \nfurniture and | \nOthers | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nBuildings | \nProduction | \nfixtures | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Year ended December 31, 2022 | \n | \nEquipment | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cost | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Opening net book amount | \n46,082 | \n131,816 | \n20,256 | \n - | \n198,154 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Currency translation adjustment | \n52 | \n(414) | \n(417) | \n - | \n(779) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Additions | \n15,872 | \n31,778 | \n7,674 | \n1,182 | \n56,506 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Transfers / Reclassifications | \n(5,166) | \n(1,317) | \n6,483 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Disposals | \n(13,270) | \n(36,186) | \n(3,705) | \n - | \n(53,161) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At December 31, 2022 | \n43,570 | \n125,677 | \n30,291 | \n1,182 | \n200,720 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated at the beginning of the year | \n24,005 | \n54,727 | \n10,684 | \n - | \n89,416 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Currency translation adjustment | \n(9) | \n(139) | \n(251) | \n - | \n(399) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation charge | \n8,965 | \n32,767 | \n7,277 | \n210 | \n49,219 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Transfers / Reclassifications | \n(3,974) | \n1,431 | \n2,543 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Disposals | \n(10,054) | \n(35,992) | \n(3,211) | \n - | \n(49,257) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated at the end of the year | \n18,933 | \n52,794 | \n17,042 | \n210 | \n88,979 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At December 31, 2022 | \n24,637 | \n72,883 | \n13,249 | \n972 | \n111,741 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nDepreciation of right-of-use assets is mainly included in Tubes segment.
\n
\nLease liability evolution
\n
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Opening net book amount | \n112,177 | \n117,285 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Increase due to business combinations (*) | \n12,148 | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation differences | \n2,237 | \n(3,922) | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Additions | \n61,310 | \n56,459 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cancellations | \n(2,972) | \n(5,207) | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Repayments (**) | \n(54,940) | \n(55,874) | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest accrued | \n4,473 | \n3,436 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At December 31, | \n134,433 | \n112,177 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n(*)
\nRelated to the GPC and Mattr\u2019s pipe coating business unit acquisitions. For more information see note 34.
\n
\n(**)
\nFor 2023 includes repayments of $51.5 million in capital and $3.4 million of interest.
\nFor 2022 includes repayments of $52.4 million in capital and $3.5 million of interest.
\n
\nAs of December 31, 2023, the amount of remaining payments with maturities of less than 1 year, between 2 and
\n5 years and more than 5 years was approximately 28%, 45% and 27%, respectively.
\n
\nAs of December 31, 2022, the amount of remaining payments with maturities of less than 1 year, between 2 and
\n5 years and more than 5 years was approximately 25%, 48% and 27%, respectively.
\n
\nExpenses related to short-term leases, leases of low value assets and variable leases (included in
\nCost of sales and
\nSelling, general and administrative expenses
\n) were not material for the years 2023 and 2022.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLeasesExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag671": {
"value": "\n
\n\n
\n14 Investments in non-consolidated companies
\n
\n
\n\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the beginning of the year | \n1,540,646 | \n1,383,774 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation differences | \n110,801 | \n7,336 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Equity in earnings of non-consolidated companies | \n79,411 | \n242,743 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Impairment loss in non-consolidated companies | \n - | \n(34,041) | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Dividends and distributions declared | \n(69,216) | \n(64,189) | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Acquisition of non-consolidated companies | \n22,661 | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Decrease due to step-acquisition | \n(23,453) | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (Decrease) / increase in equity reserves and others | \n(52,046) | \n5,023 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the end of the year | \n1,608,804 | \n1,540,646 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\nEquity in earnings of non-consolidated companies
\n: Includes a loss of $25.5 related to the participation increase in
\nUsiminas and does not include $4.5 million and $11.5 million related to GPC acquisition since May 17, 2023, which
\nis the date of its consolidation. For more information see note 34 \u201cBusiness Combinations -
\nAcquisition of Global
\nPipe Company
\n\u201d.
\n
\nImpairment loss in non-consolidated companies
\n: Includes an impairment of $19.1 million related to the investment
\nin Usiminas and $14.9 million related to the joint venture with PAO Severstal (\u201cSeverstal\u201d).
\n
\nDividends and distributions declared
\n: Related to Ternium and Usiminas. During 2023 and 2022 $68.8 million and
\n$66.2 million respectively were collected.
\n
\nAcquisition of non-consolidated companies
\n: Related to the investment in Usiminas.
\n
\nDecrease due to step-acquisition
\n:
\n
\nRelated to GPC acquisition. For more information see note 34.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n
\n\nThe principal non-consolidated companies are:
\n
\n
\n
\n\n
\n\n\n | \n | \n% ownership at December 31, | \nBook value at December 31, | \n\n\n\n
\n\n| Company | \nCountry of incorporation | \n2023 | \n2022 | \n2023 | \n2022 | \n\n\n\n
\n\n| a) Ternium (*) | \nLuxembourg | \n11.46% | \n11.46% | \n1,430,616 | \n1,363,607 | \n\n\n\n
\n\n| b) Usiminas (**) | \nBrazil | \n3.96% | \n3.07% | \n123,654 | \n109,534 | \n\n\n\n
\n\n| c) Techgen | \nMexico | \n22.00% | \n22.00% | \n53,556 | \n41,506 | \n\n\n\n
\n\n| d) Global Pipe Company (***) | \nSaudi Arabia | \n57.30% | \n35.00% | \n - | \n23,022 | \n\n\n\n
\n\n| Others | \n | \n | \n | \n978 | \n2,977 | \n\n\n\n
\n\n | \n | \n | \n | \n1,608,804 | \n1,540,646 | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(*)
\n Including treasury shares.
\n
\n(**)
\n At December 31, 2023 the voting rights were 6.76% and at December 31, 2022 were 5.19%.
\n
\n(***)
\n Consolidated as from May 17, 2023.
\n
\na) Ternium
\n
\nTernium is a steel producer with production facilities in Mexico, Brazil, Argentina, Colombia, the Southern United
\nStates and Central America and is one of Tenaris\u2019s main suppliers of round steel bars and flat steel products for its
\npipes business.
\n
\nAt December 31, 2023, the closing price of Ternium\u2019s ADSs as quoted on the New York Stock Exchange was $42.47
\nper ADS, giving Tenaris\u2019s ownership stake a market value of approximately $975.6 million. At December 31, 2023,
\nthe carrying value of Tenaris\u2019s ownership stake in Ternium, based on Ternium\u2019s IFRS Financial Statements, was
\napproximately $1,430.6 million. The Company reviews its participation in Ternium whenever events or
\ncircumstances indicate that the asset\u2019s carrying amount may not be recoverable. As of December 31, 2023, the
\nCompany concluded that the carrying amount does not exceed the recoverable value of the investment.
\n
\nSummarized selected financial information of Ternium, including the aggregated amounts of assets, liabilities,
\nrevenues and profit or loss is as follows:
\n
\n
\n\n
\n\n\n | \nTernium | \n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n
\n\n| Non-current assets | \n12,148,560 | \n8,647,510 | \n\n\n\n
\n\n| Current assets | \n12,030,544 | \n8,844,038 | \n\n\n\n
\n\n| Total assets | \n24,179,104 | \n17,491,548 | \n\n\n\n
\n\n| Non-current liabilities | \n3,566,643 | \n1,506,325 | \n\n\n\n
\n\n| Current liabilities | \n3,800,602 | \n2,216,832 | \n\n\n\n
\n\n| Total liabilities | \n7,367,245 | \n3,723,157 | \n\n\n\n
\n\n| Total equity | \n16,811,859 | \n13,768,391 | \n\n\n\n
\n\n| Non-controlling interests | \n4,393,264 | \n1,922,434 | \n\n\n\n
\n\n| Revenues | \n17,610,092 | \n16,414,466 | \n\n\n\n
\n\n| Gross profit | \n3,559,355 | \n3,927,184 | \n\n\n\n
\n\n| Net income for the year attributable to shareholders' equity | \n676,043 | \n1,767,516 | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
\n
\n
\n
\n
\nb) Usiminas
\n
\nUsiminas is a Brazilian producer of high quality flat steel products used in the energy, automotive and other
\nindustries.
\n
\nAt December 31, 2023, the closing price of the Usiminas\u2019 ordinary and preferred shares, as quoted on the B3 -
\nBrasil Bolsa Balc\u00e3o S.A, was BRL9.20 ($1.90) and BRL9.29 ($1.92), respectively, giving Tenaris\u2019s ownership stake a
\nmarket value of approximately $92.7 million. As of that date, the carrying value of Tenaris\u2019s ownership stake in
\nUsiminas was approximately $123.7 million.
\n
\nFollowing the acquisition of shares referred to in note II.B.2).b) and considering the carrying value of the previously
\nheld interest, the price paid for the acquisition of the additional Usiminas shares and the fair value measurement of
\nthe Usiminas shares (conducted at the T/T Group level) the Company recorded a net loss of $25.5 million included
\nin Equity in (losses) earnings of non-consolidated companies in the Consolidated Income Statement.
\n
\n\n\n\n\n\n
\n\n\n\n\n\n
\n\n\n\n\n\n
\n\n
\n\nThe Company reviews its participation in Usiminas whenever events or circumstances indicate that the asset\u2019s
\ncarrying amount may not be recoverable. As of December 31, 2023, the Company concluded that the carrying
\namount did not exceed the recoverable value of the investment.
\n
\nSummarized selected financial information of Usiminas, including the aggregated amounts of assets, liabilities,
\nrevenues and profit or loss is as follows:
\n
\n
\n\n
\n\n\n | \nUsiminas | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Non-current assets | \n4,591,763 | \n3,764,453 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Current assets | \n3,589,129 | \n3,901,844 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total assets | \n8,180,892 | \n7,666,297 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Non-current liabilities | \n1,672,676 | \n1,671,249 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Current liabilities | \n1,139,031 | \n1,033,524 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total liabilities | \n2,811,706 | \n2,704,773 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total equity | \n5,369,186 | \n4,961,524 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Non-controlling interests | \n556,418 | \n523,741 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Revenues | \n5,531,985 | \n6,296,964 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Gross profit | \n357,845 | \n1,110,439 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net income for the year attributable to shareholders' equity | \n278,402 | \n319,979 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nc) Techgen
\n
\nTechgen is a Mexican company that operates a natural gas-fired combined cycle electric power plant in the Pesquer\u00eda
\narea of the State of Nuevo Le\u00f3n, Mexico, with a power capacity of 900 megawatts. As of December 31, 2023,
\nTenaris held 22% of Techgen\u2019s share capital, and its affiliates, Ternium and Tecpetrol (both controlled by San
\nFaustin), beneficially owned 48% and 30% respectively. As of December 31, 2023, the carrying value of Tenaris\u2019s
\nownership stake in Techgen was approximately $53.6 million.
\n
\nTechgen entered into certain transportation capacity agreements and an agreement for the purchase of clean
\nenergy certificates. As of December 31, 2023, Tenaris\u2019s exposure under these agreements amounted to $39.4
\nmillion and $16.9 million respectively.
\n
\nTechgen\u2019s sponsors granted certain subordinated loans to Techgen. As of December 31, 2023, the aggregate
\noutstanding principal amount under these subordinated loans was $281.3 million, of which $61.9 million
\ncorrespond to Tenaris\u2019s contribution.
\n
\nOn February 13, 2019, Techgen entered into a $640 million syndicated loan agreement with several banks to
\nrefinance an existing loan, resulting in the release of certain corporate guarantees previously issued by Techgen\u2019s
\nshareholders to secure the replaced facility.
\n
\nThe existing syndicated loan agreement is \u201cnon-recourse\u201d on the sponsors. Techgen\u2019s obligations thereunder are
\nguaranteed by a Mexican security trust (covering shares, assets, accounts and contract rights), account pledges and
\ncertain direct agreements \u2013customary for these type of transactions\u2013. The commercial terms and conditions
\ngoverning the purchase by the Company\u2019s Mexican subsidiary, Tamsa, of 22% of the energy generated by Techgen
\nremain substantially unchanged.
\n
\nUnder the loan agreement, Techgen is committed to maintain a debt service reserve account covering debt service
\nbecoming due during two consecutive quarters; such account is funded by stand-by letters of credit issued for the
\naccount of Techgen\u2019s sponsors in proportion to their respective participations in Techgen. Accordingly, the
\nCompany applied for stand-by letters of credit covering 22% of the debt service coverage ratio, which as of
\nDecember 31, 2023, amounted to $10.9 million.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\nd) GPC
\n
\nGPC is a joint venture established in 2010 and located in Jubail, Saudi Arabia, which manufactures LSAW pipes.
\nUntil May 16, 2023, Tenaris, through its subsidiary SSPC, owned 35% of the share capital of GPC and, accordingly,
\nGPC was a non-consolidated company. On May 17, 2023, SSPC acquired an additional 22.3% interest in GPC
\nreaching a participation of 57.3%. The Company consolidates GPC\u2019s balances and results of operations as from
\nMay 17, 2023. For more information on GPC acquisition and its accounting treatment see note 34 \u201cBusiness
\nCombinations -
\nGlobal Pipe Company acquisition
\n\u201d.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n33 Principal subsidiaries
\n
\nThe following is a list of Tenaris\u2019s principal subsidiaries and its direct and indirect percentage of ownership of each
\ncontrolled company at December 31, 2023.
\n
\n\n
\n\n\n | \nCountry of | \n | \nPercentage of ownership | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Company | \n | \nMain activity | \nat December 31, (*) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nIncorporation | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n | \n2023 | \n2022 | \n2021 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| ALGOMA TUBES INC. | \nCanada | \nManufacturing of welded and seamless | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| steel pipes | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| BREDERO SHAW INTERNATIONAL B.V. and | \nNetherlands | \nHolding company and supplier of pipe | \n100% | \nNA | \nNA | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| subsidiaries | \ncoating services | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| CONFAB INDUSTRIAL S.A. and subsidiaries | \nBrazil | \nManufacturing of welded steel pipes | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| DALMINE S.p.A. and subsidiaries | \nItaly | \nManufacturing of seamless steel pipes | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| EXIROS B.V. and subsidiaries (a) | \nNetherlands | \nProcurement and trading services | \n50% | \n50% | \n50% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| HYDRIL COMPANY and subsidiaries | \nUSA | \nManufacture and marketing of premium | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| connections | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| MAVERICK TUBE CORPORATION and subsidiaries | \nUSA | \nManufacturing of welded and seamless | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| steel pipes | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| P.T. SEAMLESS PIPE INDONESIA JAYA | \nIndonesia | \nManufacturing of seamless steel | \n89% | \n89% | \n89% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| products | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| S.C. SILCOTUB S.A. | \nRomania | \nManufacturing of seamless steel pipes | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| SAUDI STEEL PIPE CO. and subsidiaries (b) | \nSaudi Arabia | \nManufacturing of welded steel pipes | \n48% | \n48% | \n48% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| SIAT SOCIEDAD ANONIMA | \nArgentina | \nManufacturing of welded steel pipes | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| SIDERCA SOCIEDAD ANONIMA INDUSTRIAL Y | \nArgentina | \nManufacturing of seamless steel pipes | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| COMERCIAL and subsidiaries (c) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| TALTA - TRADING E MARKETING SOCIEDADE | \nPortugal | \nHolding company | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| UNIPESSOAL LDA. | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| TENARIS BAY CITY, INC. | \nUSA | \nManufacturing of welded and seamless | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| steel pipes | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| TENARIS CONNECTIONS BV | \nNetherlands | \nDevelopment, management and | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| licensing of intellectual property | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| TENARIS FINANCIAL SERVICES S.A. | \nUruguay | \nFinancial company | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| TENARIS GLOBAL SERVICES (CANADA) INC. | \nCanada | \nMarketing of steel products | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| TENARIS GLOBAL SERVICES (U.S.A.) | \nUSA | \nMarketing of steel products | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| CORPORATION | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| TENARIS GLOBAL SERVICES (UK) LTD | \nUnited | \nHolding company and marketing of | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Kingdom | \nsteel products | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| TENARIS GLOBAL SERVICES S.A. and subsidiaries | \nUruguay | \nHolding company, marketing and | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| distribution of steel products | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| TENARIS INVESTMENTS (NL) B.V. and subsidiaries | \nNetherlands | \nHolding company | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| TENARIS GLOBAL SERVICES and INVESTMENTS | \nLuxembourg | \nHolding company | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| S.\u00e0r.l. and subsidiaries | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| TENARIS QINGDAO STEEL PIPES LTD. | \nChina | \nProcessing of premium joints, couplings | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| and automotive components | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| TENARIS TUBOCARIBE LTDA. | \nColombia | \nManufacturing of welded and seamless | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| steel pipes | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| TUBOS DE ACERO DE MEXICO, S.A. and | \nMexico | \nManufacturing of seamless steel pipes | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| subsidiaries | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n(*)
\n All percentages rounded.
\nTenaris holds 40% of Tubular Technical Services Ltd. and Pipe Coaters Nigeria Ltd., 49% of Tubulars Finishing Nigeria Limited, 49% of Amaja
\nTubular Services Limited, 60% of Tenaris Baogang Baotou Steel Pipes Ltd. Until 2022 held 98.4% of Tenaris Supply Chain S.A. and, until 2021
\nheld 49% of Tubular Services Angola Lda. after which years it started holding 100% of each of both companies.
\n(a) Tenaris holds 50% of the voting rights. The Company recognizes the assets, liabilities, revenue and expenses in relation to its interest in the
\njoint operation.
\n(b) Saudi Steel Pipe Co. is a public company listed in the Saudi Arabian Stock Exchange (Tad\u0101wul), Tenaris holds 47.79% and has the right to
\nnominate the majority of the votes of the board of directors, therefore Tenaris has control over SSPC. Since May, 2023, Saudi Steel Pipe Co.
\nholds 57.3% of Global Pipe Company, therefore Tenaris has control over GPC.
\n(c) Until its liquidation in April 2023, Siderca held 51% of NKKTubes.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag934": {
"value": "\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the beginning of the year | \n1,540,646 | \n1,383,774 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation differences | \n110,801 | \n7,336 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Equity in earnings of non-consolidated companies | \n79,411 | \n242,743 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Impairment loss in non-consolidated companies | \n - | \n(34,041) | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Dividends and distributions declared | \n(69,216) | \n(64,189) | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Acquisition of non-consolidated companies | \n22,661 | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Decrease due to step-acquisition | \n(23,453) | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (Decrease) / increase in equity reserves and others | \n(52,046) | \n5,023 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the end of the year | \n1,608,804 | \n1,540,646 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nThe principal non-consolidated companies are:
\n
\n
\n
\n\n
\n\n\n | \n | \n% ownership at December 31, | \nBook value at December 31, | \n\n\n\n
\n\n| Company | \nCountry of incorporation | \n2023 | \n2022 | \n2023 | \n2022 | \n\n\n\n
\n\n| a) Ternium (*) | \nLuxembourg | \n11.46% | \n11.46% | \n1,430,616 | \n1,363,607 | \n\n\n\n
\n\n| b) Usiminas (**) | \nBrazil | \n3.96% | \n3.07% | \n123,654 | \n109,534 | \n\n\n\n
\n\n| c) Techgen | \nMexico | \n22.00% | \n22.00% | \n53,556 | \n41,506 | \n\n\n\n
\n\n| d) Global Pipe Company (***) | \nSaudi Arabia | \n57.30% | \n35.00% | \n - | \n23,022 | \n\n\n\n
\n\n| Others | \n | \n | \n | \n978 | \n2,977 | \n\n\n\n
\n\n | \n | \n | \n | \n1,608,804 | \n1,540,646 | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(*)
\n Including treasury shares.
\n
\n(**)
\n At December 31, 2023 the voting rights were 6.76% and at December 31, 2022 were 5.19%.
\n
\n(***)
\n Consolidated as from May 17, 2023.
\n
\na) Ternium
\n
\nTernium is a steel producer with production facilities in Mexico, Brazil, Argentina, Colombia, the Southern United
\nStates and Central America and is one of Tenaris\u2019s main suppliers of round steel bars and flat steel products for its
\npipes business.
\n
\nAt December 31, 2023, the closing price of Ternium\u2019s ADSs as quoted on the New York Stock Exchange was $42.47
\nper ADS, giving Tenaris\u2019s ownership stake a market value of approximately $975.6 million. At December 31, 2023,
\nthe carrying value of Tenaris\u2019s ownership stake in Ternium, based on Ternium\u2019s IFRS Financial Statements, was
\napproximately $1,430.6 million. The Company reviews its participation in Ternium whenever events or
\ncircumstances indicate that the asset\u2019s carrying amount may not be recoverable. As of December 31, 2023, the
\nCompany concluded that the carrying amount does not exceed the recoverable value of the investment.
\n
\nSummarized selected financial information of Ternium, including the aggregated amounts of assets, liabilities,
\nrevenues and profit or loss is as follows:
\n
\n
\n\n
\n\n\n | \nTernium | \n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n
\n\n| Non-current assets | \n12,148,560 | \n8,647,510 | \n\n\n\n
\n\n| Current assets | \n12,030,544 | \n8,844,038 | \n\n\n\n
\n\n| Total assets | \n24,179,104 | \n17,491,548 | \n\n\n\n
\n\n| Non-current liabilities | \n3,566,643 | \n1,506,325 | \n\n\n\n
\n\n| Current liabilities | \n3,800,602 | \n2,216,832 | \n\n\n\n
\n\n| Total liabilities | \n7,367,245 | \n3,723,157 | \n\n\n\n
\n\n| Total equity | \n16,811,859 | \n13,768,391 | \n\n\n\n
\n\n| Non-controlling interests | \n4,393,264 | \n1,922,434 | \n\n\n\n
\n\n| Revenues | \n17,610,092 | \n16,414,466 | \n\n\n\n
\n\n| Gross profit | \n3,559,355 | \n3,927,184 | \n\n\n\n
\n\n| Net income for the year attributable to shareholders' equity | \n676,043 | \n1,767,516 | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
\n
\n
\n
\n
\nb) Usiminas
\n
\nUsiminas is a Brazilian producer of high quality flat steel products used in the energy, automotive and other
\nindustries.
\n
\nAt December 31, 2023, the closing price of the Usiminas\u2019 ordinary and preferred shares, as quoted on the B3 -
\nBrasil Bolsa Balc\u00e3o S.A, was BRL9.20 ($1.90) and BRL9.29 ($1.92), respectively, giving Tenaris\u2019s ownership stake a
\nmarket value of approximately $92.7 million. As of that date, the carrying value of Tenaris\u2019s ownership stake in
\nUsiminas was approximately $123.7 million.
\n
\nFollowing the acquisition of shares referred to in note II.B.2).b) and considering the carrying value of the previously
\nheld interest, the price paid for the acquisition of the additional Usiminas shares and the fair value measurement of
\nthe Usiminas shares (conducted at the T/T Group level) the Company recorded a net loss of $25.5 million included
\nin Equity in (losses) earnings of non-consolidated companies in the Consolidated Income Statement.
\n
\n\n\n\n\n\nThe Company reviews its participation in Usiminas whenever events or circumstances indicate that the asset\u2019s
\ncarrying amount may not be recoverable. As of December 31, 2023, the Company concluded that the carrying
\namount did not exceed the recoverable value of the investment.
\n
\nSummarized selected financial information of Usiminas, including the aggregated amounts of assets, liabilities,
\nrevenues and profit or loss is as follows:
\n
\n
\n\n
\n\n\n | \nUsiminas | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Non-current assets | \n4,591,763 | \n3,764,453 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Current assets | \n3,589,129 | \n3,901,844 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total assets | \n8,180,892 | \n7,666,297 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Non-current liabilities | \n1,672,676 | \n1,671,249 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Current liabilities | \n1,139,031 | \n1,033,524 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total liabilities | \n2,811,706 | \n2,704,773 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total equity | \n5,369,186 | \n4,961,524 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Non-controlling interests | \n556,418 | \n523,741 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Revenues | \n5,531,985 | \n6,296,964 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Gross profit | \n357,845 | \n1,110,439 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net income for the year attributable to shareholders' equity | \n278,402 | \n319,979 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSignificantInvestmentsInAssociatesExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag677": {
"value": "\n15 Receivables non-current
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Employee advances and loans | \n7,395 | \n11,908 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Tax credits (*) | \n53,483 | \n27,333 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Receivables from related parties | \n69,820 | \n67,921 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Legal deposits | \n9,355 | \n9,394 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Advances to suppliers and other advances | \n27,043 | \n28,779 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Receivable Venezuelan subsidiaries | \n - | \n48,659 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Others | \n18,863 | \n17,726 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n185,959 | \n211,720 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n(*)
\n As of December 31, 2023, included approximately $40.6 million related to ICMS (Tax on Sales and Services) from Brazilian subsidiaries.
\nAs of December 31, 2022, included approximately $8 million related to PIS and COFINS (Federal Social Contributions on Gross Revenues) tax
\nrecovery from Brazilian subsidiaries.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n17 Receivables and prepayments, net
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Prepaid expenses and other receivables | \n104,015 | \n47,419 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Government entities | \n1,330 | \n18,121 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Employee advances and loans | \n14,316 | \n10,701 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Advances to suppliers and other advances | \n48,455 | \n41,549 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Government tax refunds on exports | \n8,210 | \n8,898 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Receivables from related parties | \n5,759 | \n19,184 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Others | \n50,173 | \n41,418 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n232,258 | \n187,290 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Allowance for other doubtful accounts, see note 25 (i) | \n(3,439) | \n(3,479) | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n228,819 | \n183,811 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n19 Trade receivables, net
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Current accounts | \n2,471,565 | \n2,479,035 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Receivables from related parties | \n58,370 | \n60,400 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2,529,935 | \n2,539,435 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Allowance for doubtful accounts, see note 25 (i) | \n(49,046) | \n(45,495) | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2,480,889 | \n2,493,940 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\nThe following table sets forth details of the aging of trade receivables:
\n
\n
\n\n\n
\n\n\n| At December 31, 2023 | \nTrade | \nNot Due | \nPast due | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nReceivables | \n | \n1 - 180 days | \n> 180 days | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Guaranteed | \n261,113 | \n236,714 | \n23,991 | \n408 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Not guaranteed | \n2,268,822 | \n1,613,626 | \n590,236 | \n64,960 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Guaranteed and not guaranteed | \n2,529,935 | \n1,850,340 | \n614,227 | \n65,368 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Expected loss rate | \n0.06% | \n0.02% | \n0.18% | \n0.46% | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Allowance for doubtful accounts | \n(1,636) | \n(312) | \n(1,249) | \n(75) | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Nominative allowance for doubtful accounts | \n(47,410) | \n - | \n(748) | \n(46,662) | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net Value | \n2,480,889 | \n1,850,028 | \n612,230 | \n18,631 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\nAt December 31, 2022
\n\n
\n\n\n | \nTrade | \nNot Due | \nPast due | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nReceivables | \n | \n1 - 180 days | \n> 180 days | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Guaranteed | \n265,898 | \n237,784 | \n27,431 | \n683 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Not guaranteed | \n2,273,537 | \n1,756,707 | \n465,423 | \n51,407 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Guaranteed and not guaranteed | \n2,539,435 | \n1,994,491 | \n492,854 | \n52,090 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Expected loss rate | \n0.06% | \n0.03% | \n0.18% | \n0.77% | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Allowance for doubtful accounts | \n(1,657) | \n(654) | \n(920) | \n(83) | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Nominative allowance for doubtful accounts | \n(43,838) | \n - | \n(1,541) | \n(42,297) | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net Value | \n2,493,940 | \n1,993,837 | \n490,393 | \n9,710 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nTrade receivables are mainly denominated in U.S. dollars.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag678": {
"value": "\n16 Inventories, net
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finished goods | \n1,401,754 | \n1,592,706 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Goods in process | \n1,068,956 | \n936,555 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Raw materials | \n569,837 | \n606,977 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Supplies | \n648,443 | \n542,636 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Goods in transit | \n441,217 | \n530,721 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n4,130,207 | \n4,209,595 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Allowance for obsolescence, see note 25 (i) | \n(209,110) | \n(222,666) | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n3,921,097 | \n3,986,929 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInventoriesExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag687": {
"value": "\n
\n\n17 Receivables and prepayments, net
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Prepaid expenses and other receivables | \n104,015 | \n47,419 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Government entities | \n1,330 | \n18,121 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Employee advances and loans | \n14,316 | \n10,701 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Advances to suppliers and other advances | \n48,455 | \n41,549 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Government tax refunds on exports | \n8,210 | \n8,898 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Receivables from related parties | \n5,759 | \n19,184 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Others | \n50,173 | \n41,418 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n232,258 | \n187,290 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Allowance for other doubtful accounts, see note 25 (i) | \n(3,439) | \n(3,479) | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n228,819 | \n183,811 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag679": {
"value": "\n18 Current tax assets and liabilities
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Current tax assets | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Income tax assets | \n122,257 | \n24,812 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| V.A.T. credits | \n132,972 | \n218,009 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other prepaid taxes | \n1,172 | \n315 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n256,401 | \n243,136 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Current tax liabilities | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Income tax liabilities | \n344,565 | \n280,469 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| V.A.T. liabilities | \n60,047 | \n17,228 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other taxes | \n83,665 | \n78,543 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n488,277 | \n376,240 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag681": {
"value": "\n\n
\n\n\n| At December 31, 2023 | \nTrade | \nNot Due | \nPast due | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nReceivables | \n | \n1 - 180 days | \n> 180 days | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Guaranteed | \n261,113 | \n236,714 | \n23,991 | \n408 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Not guaranteed | \n2,268,822 | \n1,613,626 | \n590,236 | \n64,960 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Guaranteed and not guaranteed | \n2,529,935 | \n1,850,340 | \n614,227 | \n65,368 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Expected loss rate | \n0.06% | \n0.02% | \n0.18% | \n0.46% | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Allowance for doubtful accounts | \n(1,636) | \n(312) | \n(1,249) | \n(75) | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Nominative allowance for doubtful accounts | \n(47,410) | \n - | \n(748) | \n(46,662) | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net Value | \n2,480,889 | \n1,850,028 | \n612,230 | \n18,631 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\nAt December 31, 2022
\n\n
\n\n\n | \nTrade | \nNot Due | \nPast due | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nReceivables | \n | \n1 - 180 days | \n> 180 days | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Guaranteed | \n265,898 | \n237,784 | \n27,431 | \n683 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Not guaranteed | \n2,273,537 | \n1,756,707 | \n465,423 | \n51,407 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Guaranteed and not guaranteed | \n2,539,435 | \n1,994,491 | \n492,854 | \n52,090 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Expected loss rate | \n0.06% | \n0.03% | \n0.18% | \n0.77% | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Allowance for doubtful accounts | \n(1,657) | \n(654) | \n(920) | \n(83) | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Nominative allowance for doubtful accounts | \n(43,838) | \n - | \n(1,541) | \n(42,297) | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net Value | \n2,493,940 | \n1,993,837 | \n490,393 | \n9,710 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n(i) Deducted from assets
\n
\n
\n\n
\n\n\n | \nAllowance for | \nAllowance for other | \nAllowance for | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Year ended December 31, 2023 | \ndoubtful accounts - | \ndoubtful accounts - | \ninventory | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nTrade receivables | \nOther receivables | \nobsolescence | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Values at the beginning of the year | \n(45,495) | \n(3,479) | \n(222,666) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation differences | \n(128) | \n(88) | \n(452) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Increase due to business combinations (*) | \n(899) | \n - | \n(9,179) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (Additional) allowances | \n(3,590) | \n(107) | \n(13,581) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Used | \n1,066 | \n235 | \n36,768 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At December 31, 2023 | \n(49,046) | \n(3,439) | \n(209,110) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n(*)
\nRelated to the GPC, Isoplus anticorrosion coating division and Mattr\u2019s pipe coating business unit acquisitions. For more information see note
\n34.
\n
\nYear ended December 31, 2022
\n\n
\n\n\n | \nAllowance for | \nAllowance for other | \nAllowance for | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \ndoubtful accounts - | \ndoubtful accounts - | \ninventory | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nTrade receivables | \nOther receivables | \nobsolescence | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Values at the beginning of the year | \n(47,120) | \n(3,206) | \n(245,774) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation differences | \n(12) | \n68 | \n(405) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (Additional) / reversal allowances | \n223 | \n(346) | \n(24,901) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Used | \n1,414 | \n5 | \n48,414 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At December 31, 2022 | \n(45,495) | \n(3,479) | \n(222,666) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag932": {
"value": "\n
\n\n20 Cash and cash equivalents and other investments
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cash and cash equivalents | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cash at banks | \n370,487 | \n149,424 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Liquidity funds | \n223,424 | \n422,859 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Short-term investments | \n1,043,910 | \n519,244 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n1,637,821 | \n1,091,527 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n\n
\n\n\n| Other investments - current | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Fixed income (time-deposit, zero coupon bonds, commercial papers) | \n896,166 | \n196,152 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Bonds and other fixed income | \n834,281 | \n211,953 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Fund investments | \n239,184 | \n30,343 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n1,969,631 | \n438,448 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other investments - non-current | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Bonds and other fixed income | \n398,220 | \n113,574 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Others | \n7,411 | \n6,328 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n405,631 | \n119,902 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag933": {
"value": "\n20 Cash and cash equivalents and other investments
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cash and cash equivalents | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cash at banks | \n370,487 | \n149,424 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Liquidity funds | \n223,424 | \n422,859 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Short-term investments | \n1,043,910 | \n519,244 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n1,637,821 | \n1,091,527 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n\n
\n\n\n| Other investments - current | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Fixed income (time-deposit, zero coupon bonds, commercial papers) | \n896,166 | \n196,152 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Bonds and other fixed income | \n834,281 | \n211,953 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Fund investments | \n239,184 | \n30,343 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n1,969,631 | \n438,448 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other investments - non-current | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Bonds and other fixed income | \n398,220 | \n113,574 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Others | \n7,411 | \n6,328 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n405,631 | \n119,902 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag886": {
"value": "\n21 Borrowings
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Non-current | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Bank borrowings | \n48,304 | \n46,433 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n48,304 | \n46,433 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Current | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Bank borrowings | \n513,909 | \n682,255 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Bank overdrafts | \n21,224 | \n94 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Costs of issue of debt | \n - | \n(20) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n535,133 | \n682,329 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Borrowings | \n583,437 | \n728,762 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\nThe maturity of borrowings is as follows:
\n
\n\n
\n\n\n| At December 31, 2023 | \n1 year or less | \n1 - 2 years | \n2 \u2013 3 years | \nOver 3 years | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Borrowings | \n535,133 | \n46,804 | \n1,500 | \n - | \n583,437 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total borrowings | \n535,133 | \n46,804 | \n1,500 | \n - | \n583,437 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest to be accrued | \n10,510 | \n3,533 | \n283 | \n - | \n14,326 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total | \n545,643 | \n50,337 | \n1,783 | \n - | \n597,763 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n\n
\n\n\n| At December 31, 2022 | \n1 year or less | \n1 - 2 years | \n2 \u2013 3 years | \nOver 3 years | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Borrowings | \n682,329 | \n41,933 | \n3,000 | \n1,500 | \n728,762 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total borrowings | \n682,329 | \n41,933 | \n3,000 | \n1,500 | \n728,762 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest to be accrued (*) | \n26,153 | \n821 | \n64 | \n8 | \n27,046 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total | \n708,482 | \n42,754 | \n3,064 | \n1,508 | \n755,808 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(*)
\n Includes the effect of hedge accounting.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSignificant borrowings include:
\n
\n\n
\n\n\n| In millions of U.S. dollars | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Disbursement date | \nBorrower | \nType | \nFinal maturity | \nOutstanding | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2023 | \nTubos de Acero de Mexico S.A. | \nBilateral | \n2024 | \n200 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2023 | \nTenaris Tubocaribe Ltda. | \nBilateral | \n2024 | \n60 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2023 | \nConfab Industrial S.A. | \nBilateral | \n2024 | \n40 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2017 | \nGlobal Pipe Company | \nBilateral | \n2024 / 2025 | \n39 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\nAs of December 31, 2023, Tenaris was in compliance with all of its covenants, or obtained the necessary waivers
\nfrom the applicable financial institution if the covenants were not met.
\n
\nThe weighted average interest rates before tax shown below were calculated using the rates set for each instrument
\nin its corresponding currency as of December 31, 2023 and 2022, considering hedge accounting where applicable.
\n
\n
\n\n
\n\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total borrowings | \n10.56% | \n | \n9.45% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\nBreakdown of long-term borrowings by currency and rate is as follows:
\n
\nNon-current borrowings
\n
\n
\n
\n\n
\n\n\n | \n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Currency | \nInterest rates | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| USD | \nVariable | \n20,000 | \n20,000 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| SAR | \nFixed | \n23,803 | \n18,933 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| SAR | \nVariable | \n4,501 | \n7,500 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total non-current borrowings | \n | \n48,304 | \n46,433 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\nCurrent borrowings
\n
\n
\n
\n\n
\n\n\n | \n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Currency | \nInterest rates | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| USD | \nVariable | \n221,008 | \n200,350 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| USD | \nFixed | \n111,654 | \n206,336 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| BRL | \nVariable | \n39,947 | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| EUR | \nFixed | \n25,104 | \n26,829 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| MXN | \nFixed | \n - | \n141,802 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| ARS | \nFixed | \n23,462 | \n74,025 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| SAR | \nVariable | \n3,035 | \n3,023 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| SAR | \nFixed | \n110,923 | \n29,964 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total current borrowings | \n | \n535,133 | \n682,329 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\nBorrowings evolution
\n
\n
\n\n
\n\n\n | \nYear ended December 31, 2023 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nNon-current | \nCurrent | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the beginning of the year | \n46,433 | \n682,329 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation differences | \n45 | \n (74,851) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Proceeds and repayments, net | \n20,000 | \n (231,797) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interests accrued less payments | \n11 | \n (2,702) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Reclassifications | \n (18,185) | \n18,185 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Increase due to business combinations (*) | \n - | \n122,839 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Overdrafts variation | \n - | \n21,130 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the end of the year | \n48,304 | \n535,133 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n(*)
\nRelated to the GPC acquisition, for more information see note 34 to these Consolidated Financial Statements.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBorrowingsExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag888": {
"value": "\n22 Deferred tax assets and liabilities
\n
\nDeferred income taxes are calculated in full on temporary differences under the liability method using the tax rate
\nof each country.
\n
\nThe evolution of deferred tax assets and liabilities during the year is as follows:
\n
\nDeferred tax liabilities
\n
\n
\n
\n\n
\n\n\n | \nFixed assets | \nInventories | \nIntangible assets | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nand other | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the beginning of the year | \n575,667 | \n43,532 | \n114,542 | \n733,741 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation differences | \n41 | \n113 | \n397 | \n551 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Increase due to business combinations (*) | \n4,175 | \n7,563 | \n5,498 | \n17,236 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Charged to other comprehensive income | \n - | \n - | \n138 | \n138 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Income statement charge | \n38,991 | \n63,127 | \n39,627 | \n141,745 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At December 31, 2023 | \n618,874 | \n114,335 | \n160,202 | \n893,411 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n\n
\n\n\n | \nFixed assets | \nInventories | \nIntangible assets | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nand other | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the beginning of the year | \n669,830 | \n27,508 | \n104,346 | \n801,684 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation differences | \n(64) | \n15 | \n600 | \n551 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Charged to other comprehensive income | \n - | \n - | \n1,719 | \n1,719 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Income statement (credit) / charge | \n(94,099) | \n16,009 | \n7,877 | \n(70,213) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At December 31, 2022 | \n575,667 | \n43,532 | \n114,542 | \n733,741 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nDeferred tax assets
\n
\n
\n\n
\n\n\n | \nProvisions | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nand | \nInventories | \nTax losses | \nOther | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nallowances | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the beginning of the year | \n(25,817) | \n(180,152) | \n(310,589) | \n(156,984) | \n(673,542) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation differences | \n(6) | \n(24) | \n1 | \n(611) | \n(640) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Increase due to business combinations (*) | \n(1,374) | \n(223) | \n(1,875) | \n(35,941) | \n(39,413) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Charged to other comprehensive income | \n - | \n - | \n - | \n(2,342) | \n(2,342) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Income statement (credit) / charge | \n(4,314) | \n(18,620) | \n(322,431) | \n9,881 | \n(335,484) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At December 31, 2023 | \n(31,511) | \n(199,019) | \n(634,894) | \n(185,997) | \n(1,051,421) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n\n
\n\n\n | \nProvisions | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nand | \nInventories | \nTax losses | \nOther | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nallowances | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the beginning of the year | \n(25,083) | \n(85,037) | \n(485,763) | \n(176,627) | \n(772,510) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation differences | \n(345) | \n114 | \n747 | \n(245) | \n271 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Charged to other comprehensive income | \n - | \n - | \n - | \n954 | \n954 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Income statement charge / (credit) | \n(389) | \n(95,229) | \n174,427 | \n18,934 | \n97,743 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At December 31, 2022 | \n(25,817) | \n(180,152) | \n(310,589) | \n(156,984) | \n(673,542) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n(*)
\nRelated to the GPC, Isoplus anticorrosion coating division and Mattr\u2019s pipe coating business unit acquisitions. For more information see note
\n34.
\n
\nDeferred tax assets related to tax losses of Tenaris subsidiaries are recognized to the extent it is probable that future
\ntaxable profits will be available, against which such losses can be utilized. The utilization of such tax losses may also
\nbe restricted by the nature of the profit, expiration dates and / or potential limitations on their yearly consumption.
\nIn determining the amount of deferred taxes to be recognized, Tenaris considered existing evidence, both positive
\nand negative, including the historical taxable profits and the projections of future taxable profits prepared by
\nmanagement to assess the probability that the deferred tax assets will be realized. Management applies significant
\njudgment in assessing the likelihood that future taxable profits will be available.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nDeferred tax assets related to tax losses as of the end of 2023 include $550.3 million recognized in its Luxembourg
\nsubsidiary mainly due to impairment charges over certain undertakings in the past years. Under the Luxembourg
\ntax law, tax losses generated before 2017 can be carried forward indefinitely and are not subject to any yearly
\nconsumption limitation. Losses incurred as from 2017 may be carried forward for a maximum of 17 years.
\n
\nTenaris has concluded as of end 2023 that it is probable that sufficient future taxable profits will be generated by
\nbusiness activities to be carried out by its Luxembourg subsidiary, against which the above-mentioned tax losses
\ncould be utilized prior to their expiration.
\n
\nDeferred tax assets related to tax losses also include $77.9 million related to U.S. subsidiaries mainly due to the
\nrecognition of accelerated fiscal depreciations, as well as the amounts related to the acquisition of IPSCO in 2020.
\nTenaris has concluded that these deferred tax assets will be recoverable based on the business plans and budgets.
\n
\nApproximately 99% of the recognized tax losses have an expiration date in more than 5 years or do not expire.
\n
\nAs of December 31, 2023, the net unrecognized deferred tax assets amounted to $3,130.0 million. Approximately
\n99% of the unrecognized tax losses have an expiration date in more than 5 years or do not expire.
\n
\nThe estimated recovery analysis of deferred tax assets and settlement of deferred tax liabilities, which takes into
\nconsideration management assumptions and estimates, is as follows:
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Deferred tax assets to be recovered after 12 months | \n(655,415) | \n(171,717) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Deferred tax liabilities to be settled after 12 months | \n689,976 | \n688,124 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\nDeferred income tax assets and liabilities are offset when (1) there is a legally enforceable right to set-off current
\ntax assets against current tax liabilities and (2) when the deferred income taxes relate to the same fiscal authority
\non either the same taxable entity or different taxable entities where there is an intention to settle the balances on
\na net basis. The following amounts, determined after appropriate set-off, are shown in the Consolidated Statement
\nof Financial Position:
\n
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Deferred tax assets | \n(789,615) | \n(208,870) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Deferred tax liabilities | \n631,605 | \n269,069 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n(158,010) | \n60,199 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\nThe movement in the net deferred income tax (asset) / liability account is as follows:
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the beginning of the year | \n60,199 | \n29,174 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation differences | \n (89) | \n822 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Increase due to business combinations (*) | \n (22,177) | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Charged to other comprehensive income | \n (2,204) | \n2,673 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Income statement (credit) / charge | \n (193,739) | \n27,530 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the end of the year | \n (158,010) | \n60,199 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n(*)
\nRelated to the GPC, Isoplus anticorrosion coating division and Mattr\u2019s pipe coating business unit acquisitions. For more information see note
\n34.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag890": {
"value": "\n
\n23 Other liabilities
\n
\n\n(i)
\n
\nOther liabilities \u2013 Non-current
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Post-employment benefits | \n117,506 | \n108,936 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other long-term benefits | \n91,435 | \n71,446 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Miscellaneous | \n62,327 | \n49,760 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n271,268 | \n230,142 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\nAt December 31, 2023 the weighted average duration of liabilities related to post-employment benefits was 6 years.
\n
\n
\nPost-employment benefits
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Unfunded | \n112,532 | \n103,822 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Funded | \n4,974 | \n5,114 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n117,506 | \n108,936 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n\u25aa Unfunded
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Values at the beginning of the year | \n103,822 | \n103,841 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Current service cost | \n6,537 | \n6,810 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest cost | \n11,707 | \n7,610 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Curtailments and settlements | \n (675) | \n (64) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Remeasurements (*) | \n8,899 | \n (4,228) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation differences | \n (12,687) | \n (5,657) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Increase due to business combinations (**) | \n4,531 | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Benefits paid from the plan | \n (8,762) | \n (5,111) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Reclassified to current liabilities | \n - | \n (461) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other | \n (840) | \n1,082 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the end of the year | \n112,532 | \n103,822 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n(*)
\n For 2023 a loss of $0.6 million is attributable to demographic assumptions and a loss of $8.3 million to financial assumptions.
\nFor 2022 a gain of $0.1 million is attributable to demographic assumptions and a gain of $4.1 million to financial assumptions.
\n
\n(**)
\nRelated to the GPC, Isoplus anticorrosion coating division and Mattr\u2019s pipe coating business unit acquisitions. For more information see note
\n34.
\n
\nThe actuarial assumptions for the most relevant plans were as follows:
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Discount rate | \n3% - 7% | \n4% - 7% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Rate of compensation increase | \n2% - 5% | \n2% - 3% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\nAs of December 31, 2023, an increase / (decrease) of 1% in the discount rate assumption of the main plans would
\nhave generated a (decrease) / increase on the defined benefit obligation of $5.6 million and $5.0 million respectively,
\nand an increase / (decrease) of 1% in the rate of compensation assumption of the main plans would have generated
\nan increase / (decrease) impact on the defined benefit obligation of $2.7 million and $2.9 million respectively. The
\nabove sensitivity analyses are based on a change in discount rate and rate of compensation while holding all other
\nassumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions may be
\ncorrelated.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\u25aa Funded
\n
\nThe amounts recognized in the statement of financial position for the current annual period and the previous
\nannual period are as follows:
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Present value of funded obligations | \n123,234 | \n116,617 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Fair value of plan assets | \n(134,052) | \n(126,842) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Asset (*) | \n(10,818) | \n(10,225) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n(*)
\n In 2023 and 2022, $15.8 million and $15.3 million corresponding to plans with surplus balances that were reclassified within other non-
\ncurrent assets, respectively, consequently the net post-employment benefits funded exposed as liabilities amounted to $5.0 million and $5.1
\nmillion respectively.
\n
\nThe movement in the present value of funded obligations is as follows:
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the beginning of the year | \n116,617 | \n159,528 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation differences | \n1,940 | \n (6,635) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Current service cost | \n - | \n154 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest cost | \n5,715 | \n4,293 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Remeasurements (*) | \n2,142 | \n (30,349) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Increase due to business combinations (**) | \n4,708 | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Benefits paid | \n(8,459) | \n (10,374) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other | \n571 | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the end of the year | \n123,234 | \n116,617 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n(*)
\n For 2023 a loss of $0.9 million is attributable to demographic assumptions and a loss of $1.3 million to financial assumptions.
\nFor 2022 a gain of $4.8 million is attributable to demographic assumptions and a gain of $25.6 million to financial assumptions.
\n
\n(**)
\nRelated to Mattr\u2019s pipe coating business unit acquisition. For more information see note 34.
\n
\nThe movement in the fair value of plan assets is as follows:
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the beginning of the year | \n (126,842) | \n (160,504) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation differences | \n(1,897) | \n6,639 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Return on plan assets | \n(6,121) | \n (4,319) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Remeasurements | \n(4,225) | \n20,987 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Increase due to business combinations (*) | \n(3,903) | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Contributions paid to the plan | \n - | \n (435) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Benefits paid from the plan | \n8,459 | \n10,374 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other | \n477 | \n416 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the end of the year | \n (134,052) | \n (126,842) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n(*)
\nRelated to Mattr\u2019s pipe coating business unit acquisitions. For more information see note 34.
\n
\nThe major categories of plan assets as a percentage of total plan assets are as follows:
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Equity instruments | \n18% | \n29% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Debt instruments | \n33% | \n67% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Others | \n49% | \n4% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\nThe actuarial assumptions for the most relevant plans were as follows:
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Discount rate | \n5% - 5% | \n3% - 5% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Rate of compensation increase | \n0% - 3% | \n0% - 3% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\nThe expected return on plan assets is determined by considering the expected returns available on the assets
\nunderlying the current investment policy. Expected return on plan assets is determined based on long-term,
\nprospective rates of return as of the end of the reporting period.
\n
\nAs of December 31, 2023, an increase / (decrease) of 1% in the discount rate assumption of the main plans would
\nhave generated a (decrease) / increase on the defined benefit obligation of $11.7 million and $9.9 million
\nrespectively, and an increase / (decrease) of 1% in the compensation rate assumption of the main plans would have
\ngenerated an increase / (decrease) on the defined benefit obligation of $0.7 million and $0.8 million respectively.
\nThe above sensitivity analyses are based on a change in discount rate and rate of compensation while holding all
\nother assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions may be
\ncorrelated.
\n
\nThe expected employer contributions for the year 2024 are not material.
\n
\nThe methods and types of assumptions used in preparing the sensitivity analyses did not change compared to the
\nprevious period.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n(ii)
\n
\nOther liabilities \u2013 Current
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Payroll and social security payable | \n301,213 | \n224,630 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Shares to be settled under buyback program | \n86,240 | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Miscellaneous | \n35,192 | \n35,984 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n422,645 | \n260,614 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag891": {
"value": "\n(i)
\n
\nOther liabilities \u2013 Non-current
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Post-employment benefits | \n117,506 | \n108,936 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other long-term benefits | \n91,435 | \n71,446 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Miscellaneous | \n62,327 | \n49,760 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n271,268 | \n230,142 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\nAt December 31, 2023 the weighted average duration of liabilities related to post-employment benefits was 6 years.
\n
\n
\nPost-employment benefits
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Unfunded | \n112,532 | \n103,822 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Funded | \n4,974 | \n5,114 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n117,506 | \n108,936 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n\u25aa Unfunded
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Values at the beginning of the year | \n103,822 | \n103,841 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Current service cost | \n6,537 | \n6,810 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest cost | \n11,707 | \n7,610 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Curtailments and settlements | \n (675) | \n (64) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Remeasurements (*) | \n8,899 | \n (4,228) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation differences | \n (12,687) | \n (5,657) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Increase due to business combinations (**) | \n4,531 | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Benefits paid from the plan | \n (8,762) | \n (5,111) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Reclassified to current liabilities | \n - | \n (461) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other | \n (840) | \n1,082 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the end of the year | \n112,532 | \n103,822 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n(*)
\n For 2023 a loss of $0.6 million is attributable to demographic assumptions and a loss of $8.3 million to financial assumptions.
\nFor 2022 a gain of $0.1 million is attributable to demographic assumptions and a gain of $4.1 million to financial assumptions.
\n
\n(**)
\nRelated to the GPC, Isoplus anticorrosion coating division and Mattr\u2019s pipe coating business unit acquisitions. For more information see note
\n34.
\n
\nThe actuarial assumptions for the most relevant plans were as follows:
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Discount rate | \n3% - 7% | \n4% - 7% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Rate of compensation increase | \n2% - 5% | \n2% - 3% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\nAs of December 31, 2023, an increase / (decrease) of 1% in the discount rate assumption of the main plans would
\nhave generated a (decrease) / increase on the defined benefit obligation of $5.6 million and $5.0 million respectively,
\nand an increase / (decrease) of 1% in the rate of compensation assumption of the main plans would have generated
\nan increase / (decrease) impact on the defined benefit obligation of $2.7 million and $2.9 million respectively. The
\nabove sensitivity analyses are based on a change in discount rate and rate of compensation while holding all other
\nassumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions may be
\ncorrelated.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\u25aa Funded
\n
\nThe amounts recognized in the statement of financial position for the current annual period and the previous
\nannual period are as follows:
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Present value of funded obligations | \n123,234 | \n116,617 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Fair value of plan assets | \n(134,052) | \n(126,842) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Asset (*) | \n(10,818) | \n(10,225) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n(*)
\n In 2023 and 2022, $15.8 million and $15.3 million corresponding to plans with surplus balances that were reclassified within other non-
\ncurrent assets, respectively, consequently the net post-employment benefits funded exposed as liabilities amounted to $5.0 million and $5.1
\nmillion respectively.
\n
\nThe movement in the present value of funded obligations is as follows:
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the beginning of the year | \n116,617 | \n159,528 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation differences | \n1,940 | \n (6,635) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Current service cost | \n - | \n154 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest cost | \n5,715 | \n4,293 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Remeasurements (*) | \n2,142 | \n (30,349) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Increase due to business combinations (**) | \n4,708 | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Benefits paid | \n(8,459) | \n (10,374) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other | \n571 | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the end of the year | \n123,234 | \n116,617 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n(*)
\n For 2023 a loss of $0.9 million is attributable to demographic assumptions and a loss of $1.3 million to financial assumptions.
\nFor 2022 a gain of $4.8 million is attributable to demographic assumptions and a gain of $25.6 million to financial assumptions.
\n
\n(**)
\nRelated to Mattr\u2019s pipe coating business unit acquisition. For more information see note 34.
\n
\nThe movement in the fair value of plan assets is as follows:
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the beginning of the year | \n (126,842) | \n (160,504) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation differences | \n(1,897) | \n6,639 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Return on plan assets | \n(6,121) | \n (4,319) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Remeasurements | \n(4,225) | \n20,987 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Increase due to business combinations (*) | \n(3,903) | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Contributions paid to the plan | \n - | \n (435) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Benefits paid from the plan | \n8,459 | \n10,374 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other | \n477 | \n416 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At the end of the year | \n (134,052) | \n (126,842) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n(*)
\nRelated to Mattr\u2019s pipe coating business unit acquisitions. For more information see note 34.
\n
\nThe major categories of plan assets as a percentage of total plan assets are as follows:
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Equity instruments | \n18% | \n29% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Debt instruments | \n33% | \n67% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Others | \n49% | \n4% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nThe actuarial assumptions for the most relevant plans were as follows:
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Discount rate | \n5% - 5% | \n3% - 5% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Rate of compensation increase | \n0% - 3% | \n0% - 3% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\nThe expected return on plan assets is determined by considering the expected returns available on the assets
\nunderlying the current investment policy. Expected return on plan assets is determined based on long-term,
\nprospective rates of return as of the end of the reporting period.
\n
\nAs of December 31, 2023, an increase / (decrease) of 1% in the discount rate assumption of the main plans would
\nhave generated a (decrease) / increase on the defined benefit obligation of $11.7 million and $9.9 million
\nrespectively, and an increase / (decrease) of 1% in the compensation rate assumption of the main plans would have
\ngenerated an increase / (decrease) on the defined benefit obligation of $0.7 million and $0.8 million respectively.
\nThe above sensitivity analyses are based on a change in discount rate and rate of compensation while holding all
\nother assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions may be
\ncorrelated.
\n
\nThe expected employer contributions for the year 2024 are not material.
\n
\nThe methods and types of assumptions used in preparing the sensitivity analyses did not change compared to the
\nprevious period.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag896": {
"value": "\n(ii)
\n
\nOther liabilities \u2013 Current
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Payroll and social security payable | \n301,213 | \n224,630 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Shares to be settled under buyback program | \n86,240 | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Miscellaneous | \n35,192 | \n35,984 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n422,645 | \n260,614 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag900": {
"value": "\n24 Non-current allowances and provisions
\n
\nLiabilities
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Values at the beginning of the year | \n98,126 | \n83,556 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation differences | \n4,260 | \n357 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Increase due to business combinations (*) | \n1,500 | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Additional allowance | \n1,901 | \n11,102 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Reclassifications | \n(164) | \n2,229 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Used and other movements | \n(4,170) | \n882 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Values at the end of the year | \n101,453 | \n98,126 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n(*)
\nRelated to Mattr\u2019s pipe coating business unit acquisition. For more information see note 34.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n25 Current allowances and provisions
\n
\n\n(i) Deducted from assets
\n
\n
\n\n
\n\n\n | \nAllowance for | \nAllowance for other | \nAllowance for | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Year ended December 31, 2023 | \ndoubtful accounts - | \ndoubtful accounts - | \ninventory | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nTrade receivables | \nOther receivables | \nobsolescence | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Values at the beginning of the year | \n(45,495) | \n(3,479) | \n(222,666) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation differences | \n(128) | \n(88) | \n(452) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Increase due to business combinations (*) | \n(899) | \n - | \n(9,179) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (Additional) allowances | \n(3,590) | \n(107) | \n(13,581) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Used | \n1,066 | \n235 | \n36,768 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At December 31, 2023 | \n(49,046) | \n(3,439) | \n(209,110) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n(*)
\nRelated to the GPC, Isoplus anticorrosion coating division and Mattr\u2019s pipe coating business unit acquisitions. For more information see note
\n34.
\n
\nYear ended December 31, 2022
\n\n
\n\n\n | \nAllowance for | \nAllowance for other | \nAllowance for | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \ndoubtful accounts - | \ndoubtful accounts - | \ninventory | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nTrade receivables | \nOther receivables | \nobsolescence | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Values at the beginning of the year | \n(47,120) | \n(3,206) | \n(245,774) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation differences | \n(12) | \n68 | \n(405) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (Additional) / reversal allowances | \n223 | \n(346) | \n(24,901) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Used | \n1,414 | \n5 | \n48,414 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At December 31, 2022 | \n(45,495) | \n(3,479) | \n(222,666) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n(ii) Liabilities
\n
\n
\n\n
\n\n\n | \n | \nOther claims and | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Year ended December 31, 2023 | \nSales risks | \ncontingencies (*) | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Values at the beginning of the year | \n3,186 | \n7,999 | \n11,185 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation differences | \n285 | \n(208) | \n77 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Increase due to business combinations (**) | \n - | \n5,317 | \n5,317 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Additional provisions | \n30,057 | \n6,941 | \n36,998 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Reclassifications | \n - | \n164 | \n164 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Used | \n(13,588) | \n(4,194) | \n(17,782) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At December 31, 2023 | \n19,940 | \n16,019 | \n35,959 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n\n
\n\n\n | \n | \nOther claims and | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Year ended December 31, 2022 | \nSales risks | \ncontingencies (*) | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Values at the beginning of the year | \n1,468 | \n7,854 | \n9,322 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation differences | \n(160) | \n(97) | \n(257) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Additional provisions | \n5,315 | \n4,189 | \n9,504 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Reclassifications | \n- | \n(2,229) | \n(2,229) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Used | \n(3,437) | \n(1,718) | \n(5,155) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| At December 31, 2022 | \n3,186 | \n7,999 | \n11,185 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n(*)
\n Other claims and contingencies mainly include lawsuits and other legal proceedings, including employee, tax and environmental-related claims.
\n
\n(**)
\nRelated to Mattr\u2019s pipe coating business unit acquisition. For more information see note 34.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag899": {
"value": "\n26 Derivative financial instruments
\n
\nNet fair values of derivative financial instruments
\n
\nThe net fair values of derivative financial instruments, in accordance with IFRS 13, are:
\n
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Derivatives hedging borrowings and investments | \n - | \n6,480 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other derivatives | \n9,801 | \n24,325 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Contracts with positive fair values | \n9,801 | \n30,805 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other derivatives | \n (11,150) | \n (7,127) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Contracts with negative fair values | \n (11,150) | \n (7,127) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total | \n (1,349) | \n23,678 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\nForeign exchange and commodities derivative contracts and hedge accounting
\n
\nTenaris applies hedge accounting to certain cash flow hedges of highly probable forecast transactions. The net fair
\nvalues of exchange rate derivatives and those derivatives that were designated for hedge accounting as of December
\n31, 2023 and 2022 were as follows:
\n
\n\n
\n\n\n| Purchase currency | \nSell currency | \nTerm | \nFair Value | \nHedge Accounting Reserve | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2023 | \n2022 | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| MXN | \nUSD | \n2024 | \n - | \n6,571 | \n - | \n (67) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| USD | \nMXN | \n2024 | \n (2,125) | \n - | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| EUR | \nUSD | \n2024 | \n5,557 | \n1,866 | \n624 | \n (2,786) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| USD | \nEUR | \n2024 / 2025 | \n (2,966) | \n20,783 | \n7,142 | \n23,935 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| USD | \nBRL | \n2024 | \n (1,009) | \n (2,490) | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| USD | \nKWD | \n2024 | \n (50) | \n (129) | \n (388) | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| USD | \nCAD | \n2024 | \n (836) | \n404 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| USD | \nGBP | \n2024 | \n (51) | \n (11) | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| USD | \nCNY | \n2024 | \n (335) | \n (242) | \n501 | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| RON | \nUSD | \n2024 | \n261 | \n50 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| BRL | \nUSD | \n2024 | \n49 | \n223 | \n49 | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Others | \n | \n2024 | \n (49) | \n13 | \n - | \n3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total | \n | \n | \n (1,554) | \n27,038 | \n7,928 | \n21,085 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n\n
\n\n\n| Commodity Derivatives | \nTerm | \nFair Value | \nHedge Accounting Reserve | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n2023 | \n2022 | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Houston Ship Channel Gas | \n2024 | \n (231) | \n (814) | \n (231) | \n (814) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| LME Scrap | \n2024 | \n1,376 | \n29 | \n1,376 | \n (3,148) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Iron Ore | \n2024 | \n - | \n12 | \n - | \n (1,274) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Electric Energy | \n2024 | \n (340) | \n (519) | \n (340) | \n (519) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| TTF Gas | \n2024 | \n - | \n (2,068) | \n - | \n (2,207) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| PSV Gas | \n2024 | \n (2,566) | \n - | \n (2,566) | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Nickel | \n2024 | \n1,966 | \n - | \n1,966 | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total | \n | \n205 | \n (3,360) | \n205 | \n (7,963) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\nFollowing is a summary of the hedge reserve evolution:
\n
\n
\n\n
\n\n\n | \nEquity Reserve | \nMovements | \nEquity Reserve | \nMovements | \nEquity Reserve | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nDec-2021 | \n2022 | \nDec-2022 | \n2023 | \nDec-2023 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Foreign Exchange & Commodities | \n1,259 | \n11,863 | \n13,122 | \n (4,989) | \n8,133 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Cash flow Hedge | \n1,259 | \n11,863 | \n13,122 | \n (4,989) | \n8,133 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nTenaris estimates that the majority of the cash flow hedge reserve corresponding to derivatives instruments at
\nDecember 31, 2023 will be recycled to the Consolidated Income Statement during 2024. For information on hedge
\naccounting reserve, see section III.D to these Consolidated Financial Statements.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag897": {
"value": "\n
\n27 Contingencies, commitments and restrictions on the distribution of profits
\n
\n\n(i) Contingencies
\n
\nTenaris is from time to time subject to various claims, lawsuits and other legal proceedings, including customer,
\nemployee, tax and environmental-related claims, in which third parties are seeking payment for alleged damages,
\nreimbursement for losses, or indemnity. Management, with the assistance of legal counsel, periodically reviews the
\nstatus of each significant matter and assesses potential financial exposure.
\n
\nSome of these claims, lawsuits and other legal proceedings involve highly complex issues, and often these issues
\nare subject to substantial uncertainties and, therefore, the probability of loss and an estimation of damages are
\ndifficult to ascertain. Accordingly, with respect to a large portion of such claims, lawsuits and other legal
\nproceedings, the Company is unable to make a reliable estimate of the expected financial effect that will result from
\nultimate resolution of the proceeding. In those cases, the Company has not accrued a provision for the potential
\noutcome of these cases.
\n
\nIf a potential loss from a claim, lawsuit or other proceeding is considered probable and the amount can be
\nreasonably estimated, a provision is recorded. Accruals for loss contingencies reflect a reasonable estimate of the
\nlosses to be incurred based on information available to management as of the date of preparation of the financial
\nstatements and take into consideration litigation and settlement strategies. In a limited number of ongoing cases,
\nthe Company was able to make a reliable estimate of the expected loss or range of probable loss and, depending
\non the likelihood of occurrence, in some of such cases has accrued a provision for such loss but believes that
\npublication of this information on a case-by-case basis would seriously prejudice the Tenaris\u2019s position in the
\nongoing legal proceedings or in any related settlement discussions. Accordingly, in these cases, the Company has
\ndisclosed information with respect to the nature of the contingency but has not disclosed its estimate of the range
\nof potential loss.
\n
\nThe Company believes that the aggregate provisions recorded for potential losses in these Consolidated Financial
\nStatements are adequate based upon currently available information. However, if management\u2019s estimates prove
\nincorrect, current reserves could be inadequate and the Company could incur a charge to earnings which could
\nhave a material adverse effect on its results of operations, financial condition, net worth and cash flows.
\n
\nBelow is a summary description of Tenaris\u2019s material legal proceedings which are outstanding as of the date of
\nthese Consolidated Financial Statements. In addition, the Company is subject to other legal proceedings, none of
\nwhich is believed to be material.
\n
\n\u25aa
\nCSN claims relating to the January 2012 acquisition of Usiminas
\n
\n
\nIn 2013, the Company was notified of a lawsuit filed in Brazil by Companhia Sider\u00fargica Nacional (\u201cCSN\u201d), and
\nvarious entities affiliated with CSN against the Company\u2019s Brazilian subsidiary Confab and three subsidiaries of
\nTernium, all of which compose the T/T Group under the Usiminas shareholders agreement. The entities named in
\nthe CSN lawsuit had acquired a participation in Usiminas in January 2012. The CSN lawsuit alleges that, under
\napplicable Brazilian laws and rules, the acquirers were required to launch a tag-along tender offer to all non-
\ncontrolling holders of Usiminas ordinary shares for a price per share equal to 80% of the price per share paid in
\nsuch acquisition, or BRL 28.8, and seeks an order to compel the acquirers to launch an offer at that price plus
\ninterest. If so ordered, the offer would need to be made to 182,609,851 ordinary shares of Usiminas not belonging
\nto Usiminas\u2019 control group. Confab\u2019s share in the offer would be 17.9%.
\n
\nOn September 23, 2013, the first instance court dismissed the CSN lawsuit, and on February 8, 2017, the court of
\nappeals maintained the understanding of the first instance court. On August 18, 2017, CSN filed an appeal to the
\nSuperior Court of Justice (\u201cSCJ\u201d) seeking the review and reversal of the decision issued by the Court of Appeals.
\nOn September 10, 2019, the SCJ declared CSN\u2019s appeal admissible. On March 7, 2023, the SCJ, by majority vote,
\nrejected CSN\u2019s appeal. CSN made several submissions in connection with the SCJ decision, including a motion for
\nclarification that challenged the merits of the SCJ decision. Decisions at the SCJ are adopted by majority vote and,
\nat the date of these financial statements, voting at the SCJ with respect to the motion for clarification is ongoing.
\nAt an October 17, 2023 session, two justices voted in favor of remanding the case to the first instance for it to be
\nretried following production and assessment of the new evidence, and two justices voted, without requiring any
\nfurther evidence, in favor of granting CSN\u2019s motion for clarification and reversing the March 7, 2023 decision that
\nrejected CSN\u2019s appeal; because the fifth member of SCJ excused himself from voting, a justice from another panel
\nat the SCJ will be summoned to produce the tie-breaking vote. There are no specified deadlines for voting to be
\nresumed or the SCJ decision to be issued. In any event, either party may appeal against a SCJ decision.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\nAccording to the views of the two justices that voted in favor of CSN\u2019s motion, Confab and the other members of
\nthe T/T Group should be ordered to pay to CSN an indemnification amount equal to the difference between the
\nprice paid by the T/T Group in its acquisition and the market value of the Usiminas shares at signing, plus monetary
\nadjustment and interest (at a rate of 1% per month) through the date of payment, plus legal costs equal to 10%
\nof the compensation payable to CSN, with CSN retaining ownership of the Usiminas ordinary shares it currently
\nowns. If that unprecedented view were to prevail, and depending on how the indemnification is calculated by other
\ncourts, as of the date of these financial statements the potential aggregate indemnification payable by Confab
\ncould reach up to BRL900.4 million (approximately $186.0 million at the BRL/$ rate as of such date).
\n
\nThe Company continues to believe that all of CSN\u2019s claims and allegations are groundless and without merit, as
\nconfirmed by several opinions of Brazilian legal counsel, two decisions issued by the Brazilian securities regulator in
\nFebruary 2012 and December 2016, the first and second instance court decisions and the March 7, 2023 SCJ
\ndecision referred to above. Notwithstanding the foregoing, in light of the votes already issued by two members of
\nthe SCJ on CSN\u2019s motion for clarification, the Company cannot predict the ultimate resolution on the matter.
\n
\n\u25aa
\nVeracel celulose accident litigation
\n
\nOn September 21, 2007, an accident occurred in the premises of Veracel Celulose S.A. (\u201cVeracel\u201d) in connection
\nwith a rupture in one of the tanks used in an evaporation system manufactured by Confab. The Veracel accident
\nallegedly resulted in material damages to Veracel. Ita\u00fa Seguros S.A. (\u201cIta\u00fa\u201d), Veracel\u2019s insurer at the time of the
\nVeracel accident and then replaced by Chubb Seguros Brasil S/A (\u201cChubb\u201d), initiated a lawsuit against Confab
\nseeking reimbursement of damages paid to Veracel in connection with the Veracel accident. Veracel initiated a
\nsecond lawsuit against Confab seeking reimbursement of the amount paid as insurance deductible with respect to
\nthe Veracel accident and other amounts not covered by insurance. Ita\u00fa and Veracel claimed that the Veracel accident
\nwas caused by failures and defects attributable to the evaporation system manufactured by Confab. Confab believes
\nthat the Veracel accident was caused by the improper handling by Veracel\u2019s personnel of the equipment supplied
\nby Confab in violation of Confab\u2019s instructions. The two lawsuits were consolidated and are considered by the 6th
\nCivil Court of S\u00e3o Caetano do Sul. However, each lawsuit will be adjudicated separately.
\n
\nOn September 28, 2018, Confab and Chubb entered into a settlement agreement pursuant to which on October
\n9, 2018, Confab paid an amount of approximately $3.5 million to Chubb, without assuming any liability for the
\naccident or the claim.
\n
\nOn October 10, 2018, Confab was notified that the court had issued rulings for both lawsuits. Both decisions were
\nunfavorable to Confab:
\n
\n- With respect to Chubb\u2019s claim, the court subsequently homologated the above-mentioned settlement and,
\naccordingly, the claim was finalized.
\n
\n- With respect to Veracel\u2019s claim, Confab was ordered to pay the insurance deductible and other concepts
\nnot covered by insurance, currently estimated to amount to BRL100.6 million (approximately $20.8 million)
\nincluding interest, fees and expenses. Both parties filed motions for clarification against the court\u2019s decision,
\nwhich were partially granted. Although the contract between Confab and Veracel expressly provided that
\nConfab would not be liable for damages arising from lost profits, the court award would appear to include
\nBRL86.4 million (approximately $17.8 million) of damages arising therefrom. Confab has additional defense
\narguments in respect of a claim for lost profits. On December 18, 2018, Confab filed an appeal against the
\nfirst instance court decision, and on April 30, 2019, Veracel filed its response to the appeal. In June 2022,
\nthe court resolved that it lacked jurisdiction to decide on the appeal, which was re-allocated to another
\ncourt. The parties are currently waiting for the trial of the appeal to be scheduled. At this stage the
\nCompany cannot predict the outcome of the claim or the amount or range of loss in case of an unfavorable
\noutcome.
\n
\n\n\n\n\n\n
\n\n\n\n\n\n
\n\n\u25aa
\nPetrobras-related proceedings and claims
\n7
\n
\n
\nUpon learning that Brazilian, Italian and Swiss authorities were investigating whether certain payments were made
\nprior to 2014 from accounts of entities presumably associated with affiliates of the Company to accounts allegedly
\nlinked to individuals related to Petr\u00f3leo Brasileiro S.A. (\u201cPetrobras\u201d) and whether any such payments were intended
\nto benefit the Company\u2019s Brazilian subsidiary Confab, the Audit Committee of the Company's Board of Directors
\nengaged external counsel in connection with the Company\u2019s review of these matters. In addition, the Company
\nvoluntarily notified the U.S. Securities and Exchange Commission (\u201cSEC\u201d) and the U.S. Department of Justice
\n(\u201cDOJ\u201d) in October 2016. The Company conducted, with the assistance of external counsel, an internal investigation
\nand found no evidence corroborating any involvement by the Company or its directors, officers or employees in
\nrespect of improper payments. An internal investigation commissioned by Petrobras also found no evidence that
\nConfab obtained any unfair commercial benefit or advantage from Petrobras in return for payments, including
\nimproperly obtained contracts. On June 2, 2022, the Company resolved the investigation by the SEC, and the DOJ
\ninformed that it had closed its parallel inquiry without taking action. Under the settlement with the SEC, the
\nCompany neither admits nor denies the SEC\u2019s findings and on June 24, 2022, paid $53.1 million in disgorgement
\nand prejudgment interest and $25 million for a civil penalty to conclude the matter.
\n
\nIn July 2019, the Company learned that the public prosecutors\u2019 office of Milan, Italy, had completed a preliminary
\ninvestigation into the same alleged payments and had included in the investigation, among other persons, the
\nCompany\u2019s Chairman and Chief Executive Officer, two other board members, Gianfelice Rocca and Roberto Bonatti,
\nand the Company\u2019s controlling shareholder, San Faustin. The Company is not a party to the proceedings. On March
\n22, 2022, upon completion of the evidentiary phase of the trial, the acting prosecutor requested the first-instance
\ncourt in Milan in charge of the case to impose sanctions on our Chairman and Chief Executive Officer, on the other
\ntwo board members, and on San Faustin. The Company\u2019s outside counsel in Italy advised the Company that neither
\nthe case file nor the prosecutor\u2019s request contain or identify any evidence of involvement in, or knowledge of, the
\nalleged wrongdoing by any of the three directors. On May 26, 2022, the first-instance court dismissed the case
\nbrought by the public prosecutor against the defendants for lack of jurisdiction and stated that the criminal
\nproceeding should not have been initiated. On October 7, 2022, the public prosecutor filed an appeal against the
\nfirst-instance court\u2019s decision. On February 22, 2024, the court of appeals referred the case to the court of cassation,
\nwhich will be in charge of determining whether or not the Italian courts have jurisdiction over the matter.
\n
\nIn June 2020, the Brazilian public prosecutors\u2019 office requested the indictment of several individuals, including three
\nexecutives or former executives of Confab and a former agent of Confab, charging them with the alleged crimes
\nof corruption in relation to contracts executed between 2007 and 2010, and money laundering in relation to
\npayments between 2009 and 2013. These criminal proceedings are underway. Neither the Company nor Confab is
\na party to these criminal proceedings.
\n
\nIn addition, Petrobras and the Brazilian public prosecutors filed civil claims for damages against, among others,
\nConfab and the Confab executives named in the criminal proceedings referred to above. Confab became aware of
\nthese civil claims in September 2022. As of December 31, 2023, the aggregate amount of these claims was
\nestimated at BRL322.2 million (or approximately $66.6 million). The plaintiffs also seek that Confab be prohibited
\nfrom contracting with, or receiving benefits or exemptions from, the Brazilian state for an unspecified term. Confab
\nbelieves these claims do not address either the defense arguments or the evidence available to the plaintiffs in Brazil
\nand presented in other jurisdictions and is vigorously contesting them. At this stage, the Company cannot predict
\nthe outcome of these civil proceedings.
\n
\n\u25aa
\nPutative class actions
\n
\nFollowing the Company\u2019s November 27, 2018, announcement that its Chairman and CEO Paolo Rocca had been
\nincluded in an Argentine court investigation known as the Notebooks Case (a decision subsequently reversed by a
\nhigher court), two putative class action complaints were filed in the U.S. District Court for the Eastern District of
\nNew York. On April 29, 2019, the court consolidated the complaints into a single case, captioned \u201cIn re Tenaris
\nS.A. Securities Litigation\u201d, and appointed lead plaintiffs and lead counsel.
\n
\n
\n7
\n This note was updated subsequently to the approval of these Consolidated Financial Statements by the Company\u2019s Board of Directors on
\nFebruary 21, 2024.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\nOn July 19, 2019, the lead plaintiffs filed an amended complaint purportedly on behalf of purchasers of Tenaris
\nsecurities during the putative class period of May 1, 2014, through December 5, 2018. The individual defendants
\nnamed in the complaint are Tenaris\u2019s Chairman and CEO and Tenaris\u2019s former CFO. The complaint alleges that
\nduring the class period, the Company and the individual defendants inflated the Tenaris share price by failing to
\ndisclose that the nationalization proceeds received by Ternium (in which the Company held an 11.46% stake) when
\nSidor was expropriated by Venezuela were received or expedited as a result of allegedly improper payments made
\nto Argentine officials. The complaint does not specify the damages that plaintiff is seeking.
\n
\nOn October 9, 2020, the court granted in part and denied in part the defendants\u2019 motions to dismiss. The court
\npartially granted and partially denied the motion to dismiss the claims against the Company and its Chairman and
\nCEO. In addition, the court granted the motions to dismiss as to all claims against San Faustin, Techint, and Tenaris\u2019s
\nformer CFO.
\n
\nOn November 11, 2022, the parties filed a joint notice of settlement announcing a settlement in principle of all
\nclaims in the action, subject to finalizing the settlement agreements and court approval. The parties\u2019 agreement in
\nprinciple provides that, in exchange for dismissal of the action and customary releases from class members and with
\nno admission of liability by Tenaris or Mr. Rocca, Tenaris will pay to the class $9.5 million (inclusive of legal fees to
\nlead plaintiff\u2019s counsel).
\n
\nOn April 10, 2023, the court granted preliminary approval to the class settlement. The final settlement approval
\nhearing was set for October 19, 2023, and on that date the court ordered that, prior to granting final settlement
\napproval, the lead plaintiffs submit on or before March 29, 2024, an update letter advising the court of the status
\nof the claims processing.
\n
\n\u25aa
\nAdministrative proceeding concerning Brazilian tax credits
\n
\nConfab is a party to an administrative proceeding concerning the recognition and transfer of tax credits for an
\namount allegedly exceeding the amount that Confab would have been entitled to recognize and / or transfer. The
\nproceeding resulted in the imposition of a fine against Confab representing approximately 75% of the allegedly
\nundue credits, which was appealed by Confab. On January 21, 2019, Confab was notified of an administrative
\ndecision denying Confab\u2019s appeal, thereby upholding the tax determination and the fine against Confab. On
\nJanuary 28, 2019, Confab challenged such administrative decision. Special appeals were filed by Confab in July
\n2023 and by the Brazilian General Tax Attorney (\u201cPGFN\u201d) in September 2023. The parties are currently awaiting a
\nresolution. In case of an unfavorable resolution, Confab may appeal before the courts. The estimated amount of
\nthis claim is BRL60.7 million (approximately $12.5 million). At this stage, the Company cannot predict the outcome
\nof this claim.
\n
\n\u25aa
\nU.S. patent infringement litigation
\n
\nTenaris Coiled Tubes, LLC (\u201cTCT\u201d), a U.S. subsidiary of the Company, was sued in 2017 by its competitor Global
\nTubing, alleging defamatory conduct by TCT and seeking a declaration that certain Global Tubing products do not
\ninfringe patents held by TCT. TCT counterclaimed that certain Global Tubing products did infringe patents held by
\nTCT, and Global Tubing has since sought to invalidate such patents. On December 13, 2019, Global Tubing filed
\nan amended complaint (including the Company as defendant), alleging, among other things, that TCT and the
\nCompany had misled the patent office. On March 20, 2023, the judge granted summary judgment in favor of
\nGlobal Tubing, concluding that the patents at issue are unenforceable due to inequitable conduct during the patent
\nprosecution process. TCT appealed this judgment, and Global Tubing appealed a previous ruling of the judge. Global
\nTubing also filed a brief seeking to recover attorneys\u2019 fees, without specifying the amount of those fees. Although
\nit is not possible to predict the final outcome of this matter, the Company believes that any potential losses arising
\nfrom this case will not be material.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n\n\u25aa
\nU.S. Antidumping Duty Investigations
\n
\nOn October 27, 2021, the U.S. Department of Commerce (\u201cDOC\u201d) initiated antidumping duty investigations of oil
\ncountry tubular goods (\u201cOCTG\u201d) from Argentina, Mexico, and Russia. After the DOC issued affirmative preliminary
\nand final antidumping determinations with respect to imports from Argentina, Mexico and Russia on October 27,
\n2022, the International Trade Commission (\u201cITC\u201d) determined that the imports under investigation caused injury to
\nthe U.S. OCTG industry. Tenaris and other parties have appealed the agency determinations from the investigation
\nto the Court of International Trade. In addition, in response to a request from the Government of Argentina, the
\nWorld Trade Organization (\u201cWTO\u201d) established a panel of experts to consider whether the DOC\u2019s antidumping
\norder applicable to Argentina is consistent with the international obligations of the United States. As a result of the
\ninvestigation, and unless overturned on appeal, Tenaris is required to pay antidumping duty deposits (at a rate of
\n78.30% for imports from Argentina and 44.93% for imports from Mexico) until such time the imports are reviewed
\nby the DOC to determine whether final duties are necessary for the specific period under review. Tenaris has been
\npaying such deposits since May 11, 2022, reflecting the amount of such deposits in its costs. The deposit rates may
\nbe reset periodically based on the results of the review process. It is possible that, through the periodic review
\nprocess, the deposits may be either returned to Tenaris in whole or in part, or may be increased.
\n
\n\u25aa
\nPotential dispute with agent in the Middle East
\n8
\n
\n
\nConsistent with local practice in certain Middle East countries, Tenaris Global Services S.A. (\u201cTGSU\u201d), a Uruguayan
\nsubsidiary of the Company, sells materials to a local agent, and the agent then resells the materials to customers in
\nthe region. Tenaris is not a party to the contracts between the agent and each customer. In one such contract
\nentered into in mid-2021, with pending obligations of approximately $520 million and deliveries until 2025, the
\nagent agreed to supply Tenaris-produced casing and tubing of different sizes to the customer. Subsequent events
\nled to onerous increases in prices and delays to supply the materials and led to lengthy discussions between the
\nparties. The customer paid a significant portion of such increased costs and, as a result, the dispute was
\nsettled.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n(ii) Commitments and guarantees
\n
\nSet forth is a description of the Tenaris\u2019s main outstanding commitments:
\n
\n\u25aa Certain subsidiaries of the Company entered into a contract with Praxair S.A. for the service of oxygen and
\nnitrogen supply. As of December 31, 2023, the aggregate amount to take or pay the committed volumes for an
\noriginal 14-year term totaled approximately $32.7 million.
\n
\n\u25aa A subsidiary of the Company entered into a 25-year contract (effective as of December 1, 2016, through
\nDecember 1, 2041) with Techgen for the supply of 197 MW (which represents 22% of Techgen\u2019s capacity).
\nMonthly payments are determined on the basis of capacity charges, operation costs, back-up power charges,
\nand transmission charges. As of the seventh contract year (as long as Techgen\u2019s existing or replacing bank facility
\nhas been repaid in full), the Company\u2019s subsidiary has the right to suspend or early terminate the contract if the
\nrate payable under the agreement is higher than the rate charged by the
\nComisi\u00f3n Federal de Electricidad
\n
\n(\u201cCFE\u201d) or its successors. The Company\u2019s subsidiary may instruct Techgen to sell to any affiliate, to CFE, or to
\nany other third party all or any part of unused contracted energy under the agreement and the Company\u2019s
\nsubsidiary will benefit from the proceeds of such sale.
\n
\n\u25aa A U.S. subsidiary of the Company is a party to a contract with Nucor Steel Memphis Inc. under which it is
\ncommitted to purchase on a monthly basis a specified minimum volume of steel bars, at prices subject to
\nquarterly adjustments. The contract became effective upon delivery of the first purchase order, which occurred
\nin April 2021, with an original duration of 3 years. In September 2023, the parties agreed to extend its term
\nuntil December 31, 2024. As of December 31, 2023, the estimated aggregate contract amount calculated at
\ncurrent prices, was approximately $73.7 million. The contract gives the subsidiary of the Company the right to
\ntemporarily reduce the quantities to be purchased thereunder to 75% of the agreed-upon minimum volume in
\ncases of material adverse changes in prevailing economic or market conditions.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n8
\n This note was updated subsequently to the approval of these Consolidated Financial Statements by the Company\u2019s Board of Directors on
\nFebruary 21, 2024.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\u25aa In connection with the closing of the acquisition of IPSCO, a U.S. subsidiary of the Company entered into a 6-
\nyear master distribution agreement (the \u201cMDA\u201d) with PAO TMK (\u201cTMK\u201d) whereby, since January 2, 2020,
\nTenaris became the exclusive distributor of TMK\u2019s OCTG and line pipe products in United States and Canada. At
\nthe end of the MDA\u2019s 6-year term, TMK would have the option to extend the duration of its term for an
\nadditional 12-month period. Under the MDA, the Company is required to purchase specified minimum volumes
\nof TMK-manufactured OCTG and line pipe products, based on the aggregate market demand for the relevant
\nproduct category in the United States in the relevant year. In February 2022, however, the Company and TMK
\nagreed that there would be no minimum yearly purchase requirement for the OCTG product category for the
\nyear ended December 31, 2022, and there would be no minimum yearly purchase requirement for TMK line
\npipe products under the MDA neither for the contract year ended December 31, 2022, nor for any subsequent
\ncontract year until expiration of the MDA\u2019s term. In addition, no purchases of TMK products were made during
\n2023. The parties are currently discussing the termination of the MDA.
\n
\n\u25aa A Brazilian subsidiary of the Company entered into a contract with Usiminas and Gerdau from which it
\ncommitted to purchase steel coils for a remaining amount of approximately $109.6 million to use for
\nmanufacturing welded pipes for the Raia fields project in Brazil.
\n
\n\u25aa A subsidiary of the Company entered into a contract with the supplier JFE Steel Corporation for the purchase of
\ntubular material, including 13 Chrome alloy products following the closure of NKKTubes. Such contract foresees
\na penalty for a maximum amount of $30.9 million in case of early termination.
\n
\nIn addition, Tenaris (i) applied for stand-by letters of credit as well as corporate guarantees covering certain
\nobligations of Techgen as described in note 14 (c) and (ii) issued performance guarantees mainly related to long-
\nterm commercial contracts with several customers and parent companies for approximately $3.6 billion as of
\nDecember 31, 2023.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n (iii) Restrictions on the distribution of profits and payment of dividends
\n
\nIn accordance with Luxembourg Law, the Company is required to transfer a minimum of 5% of its net profit for
\neach financial year to a legal reserve until such reserve equals 10% of the issued share capital.
\n
\nAs of December 31, 2023, this reserve is fully allocated and additional allocations to the reserve are not required
\nunder Luxembourg law. Dividends may not be paid out of the legal reserve.
\n
\nThe Company may pay dividends to the extent, among other conditions, that it has distributable retained earnings
\ncalculated in accordance with Luxembourg law and regulations.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag898": {
"value": "\n(i) Contingencies
\n
\nTenaris is from time to time subject to various claims, lawsuits and other legal proceedings, including customer,
\nemployee, tax and environmental-related claims, in which third parties are seeking payment for alleged damages,
\nreimbursement for losses, or indemnity. Management, with the assistance of legal counsel, periodically reviews the
\nstatus of each significant matter and assesses potential financial exposure.
\n
\nSome of these claims, lawsuits and other legal proceedings involve highly complex issues, and often these issues
\nare subject to substantial uncertainties and, therefore, the probability of loss and an estimation of damages are
\ndifficult to ascertain. Accordingly, with respect to a large portion of such claims, lawsuits and other legal
\nproceedings, the Company is unable to make a reliable estimate of the expected financial effect that will result from
\nultimate resolution of the proceeding. In those cases, the Company has not accrued a provision for the potential
\noutcome of these cases.
\n
\nIf a potential loss from a claim, lawsuit or other proceeding is considered probable and the amount can be
\nreasonably estimated, a provision is recorded. Accruals for loss contingencies reflect a reasonable estimate of the
\nlosses to be incurred based on information available to management as of the date of preparation of the financial
\nstatements and take into consideration litigation and settlement strategies. In a limited number of ongoing cases,
\nthe Company was able to make a reliable estimate of the expected loss or range of probable loss and, depending
\non the likelihood of occurrence, in some of such cases has accrued a provision for such loss but believes that
\npublication of this information on a case-by-case basis would seriously prejudice the Tenaris\u2019s position in the
\nongoing legal proceedings or in any related settlement discussions. Accordingly, in these cases, the Company has
\ndisclosed information with respect to the nature of the contingency but has not disclosed its estimate of the range
\nof potential loss.
\n
\nThe Company believes that the aggregate provisions recorded for potential losses in these Consolidated Financial
\nStatements are adequate based upon currently available information. However, if management\u2019s estimates prove
\nincorrect, current reserves could be inadequate and the Company could incur a charge to earnings which could
\nhave a material adverse effect on its results of operations, financial condition, net worth and cash flows.
\n
\nBelow is a summary description of Tenaris\u2019s material legal proceedings which are outstanding as of the date of
\nthese Consolidated Financial Statements. In addition, the Company is subject to other legal proceedings, none of
\nwhich is believed to be material.
\n
\n\u25aa
\nCSN claims relating to the January 2012 acquisition of Usiminas
\n
\n
\nIn 2013, the Company was notified of a lawsuit filed in Brazil by Companhia Sider\u00fargica Nacional (\u201cCSN\u201d), and
\nvarious entities affiliated with CSN against the Company\u2019s Brazilian subsidiary Confab and three subsidiaries of
\nTernium, all of which compose the T/T Group under the Usiminas shareholders agreement. The entities named in
\nthe CSN lawsuit had acquired a participation in Usiminas in January 2012. The CSN lawsuit alleges that, under
\napplicable Brazilian laws and rules, the acquirers were required to launch a tag-along tender offer to all non-
\ncontrolling holders of Usiminas ordinary shares for a price per share equal to 80% of the price per share paid in
\nsuch acquisition, or BRL 28.8, and seeks an order to compel the acquirers to launch an offer at that price plus
\ninterest. If so ordered, the offer would need to be made to 182,609,851 ordinary shares of Usiminas not belonging
\nto Usiminas\u2019 control group. Confab\u2019s share in the offer would be 17.9%.
\n
\nOn September 23, 2013, the first instance court dismissed the CSN lawsuit, and on February 8, 2017, the court of
\nappeals maintained the understanding of the first instance court. On August 18, 2017, CSN filed an appeal to the
\nSuperior Court of Justice (\u201cSCJ\u201d) seeking the review and reversal of the decision issued by the Court of Appeals.
\nOn September 10, 2019, the SCJ declared CSN\u2019s appeal admissible. On March 7, 2023, the SCJ, by majority vote,
\nrejected CSN\u2019s appeal. CSN made several submissions in connection with the SCJ decision, including a motion for
\nclarification that challenged the merits of the SCJ decision. Decisions at the SCJ are adopted by majority vote and,
\nat the date of these financial statements, voting at the SCJ with respect to the motion for clarification is ongoing.
\nAt an October 17, 2023 session, two justices voted in favor of remanding the case to the first instance for it to be
\nretried following production and assessment of the new evidence, and two justices voted, without requiring any
\nfurther evidence, in favor of granting CSN\u2019s motion for clarification and reversing the March 7, 2023 decision that
\nrejected CSN\u2019s appeal; because the fifth member of SCJ excused himself from voting, a justice from another panel
\nat the SCJ will be summoned to produce the tie-breaking vote. There are no specified deadlines for voting to be
\nresumed or the SCJ decision to be issued. In any event, either party may appeal against a SCJ decision.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nAccording to the views of the two justices that voted in favor of CSN\u2019s motion, Confab and the other members of
\nthe T/T Group should be ordered to pay to CSN an indemnification amount equal to the difference between the
\nprice paid by the T/T Group in its acquisition and the market value of the Usiminas shares at signing, plus monetary
\nadjustment and interest (at a rate of 1% per month) through the date of payment, plus legal costs equal to 10%
\nof the compensation payable to CSN, with CSN retaining ownership of the Usiminas ordinary shares it currently
\nowns. If that unprecedented view were to prevail, and depending on how the indemnification is calculated by other
\ncourts, as of the date of these financial statements the potential aggregate indemnification payable by Confab
\ncould reach up to BRL900.4 million (approximately $186.0 million at the BRL/$ rate as of such date).
\n
\nThe Company continues to believe that all of CSN\u2019s claims and allegations are groundless and without merit, as
\nconfirmed by several opinions of Brazilian legal counsel, two decisions issued by the Brazilian securities regulator in
\nFebruary 2012 and December 2016, the first and second instance court decisions and the March 7, 2023 SCJ
\ndecision referred to above. Notwithstanding the foregoing, in light of the votes already issued by two members of
\nthe SCJ on CSN\u2019s motion for clarification, the Company cannot predict the ultimate resolution on the matter.
\n
\n\u25aa
\nVeracel celulose accident litigation
\n
\nOn September 21, 2007, an accident occurred in the premises of Veracel Celulose S.A. (\u201cVeracel\u201d) in connection
\nwith a rupture in one of the tanks used in an evaporation system manufactured by Confab. The Veracel accident
\nallegedly resulted in material damages to Veracel. Ita\u00fa Seguros S.A. (\u201cIta\u00fa\u201d), Veracel\u2019s insurer at the time of the
\nVeracel accident and then replaced by Chubb Seguros Brasil S/A (\u201cChubb\u201d), initiated a lawsuit against Confab
\nseeking reimbursement of damages paid to Veracel in connection with the Veracel accident. Veracel initiated a
\nsecond lawsuit against Confab seeking reimbursement of the amount paid as insurance deductible with respect to
\nthe Veracel accident and other amounts not covered by insurance. Ita\u00fa and Veracel claimed that the Veracel accident
\nwas caused by failures and defects attributable to the evaporation system manufactured by Confab. Confab believes
\nthat the Veracel accident was caused by the improper handling by Veracel\u2019s personnel of the equipment supplied
\nby Confab in violation of Confab\u2019s instructions. The two lawsuits were consolidated and are considered by the 6th
\nCivil Court of S\u00e3o Caetano do Sul. However, each lawsuit will be adjudicated separately.
\n
\nOn September 28, 2018, Confab and Chubb entered into a settlement agreement pursuant to which on October
\n9, 2018, Confab paid an amount of approximately $3.5 million to Chubb, without assuming any liability for the
\naccident or the claim.
\n
\nOn October 10, 2018, Confab was notified that the court had issued rulings for both lawsuits. Both decisions were
\nunfavorable to Confab:
\n
\n- With respect to Chubb\u2019s claim, the court subsequently homologated the above-mentioned settlement and,
\naccordingly, the claim was finalized.
\n
\n- With respect to Veracel\u2019s claim, Confab was ordered to pay the insurance deductible and other concepts
\nnot covered by insurance, currently estimated to amount to BRL100.6 million (approximately $20.8 million)
\nincluding interest, fees and expenses. Both parties filed motions for clarification against the court\u2019s decision,
\nwhich were partially granted. Although the contract between Confab and Veracel expressly provided that
\nConfab would not be liable for damages arising from lost profits, the court award would appear to include
\nBRL86.4 million (approximately $17.8 million) of damages arising therefrom. Confab has additional defense
\narguments in respect of a claim for lost profits. On December 18, 2018, Confab filed an appeal against the
\nfirst instance court decision, and on April 30, 2019, Veracel filed its response to the appeal. In June 2022,
\nthe court resolved that it lacked jurisdiction to decide on the appeal, which was re-allocated to another
\ncourt. The parties are currently waiting for the trial of the appeal to be scheduled. At this stage the
\nCompany cannot predict the outcome of the claim or the amount or range of loss in case of an unfavorable
\noutcome.
\n
\n\n\n\n\n\n\u25aa
\nPetrobras-related proceedings and claims
\n7
\n
\n
\nUpon learning that Brazilian, Italian and Swiss authorities were investigating whether certain payments were made
\nprior to 2014 from accounts of entities presumably associated with affiliates of the Company to accounts allegedly
\nlinked to individuals related to Petr\u00f3leo Brasileiro S.A. (\u201cPetrobras\u201d) and whether any such payments were intended
\nto benefit the Company\u2019s Brazilian subsidiary Confab, the Audit Committee of the Company's Board of Directors
\nengaged external counsel in connection with the Company\u2019s review of these matters. In addition, the Company
\nvoluntarily notified the U.S. Securities and Exchange Commission (\u201cSEC\u201d) and the U.S. Department of Justice
\n(\u201cDOJ\u201d) in October 2016. The Company conducted, with the assistance of external counsel, an internal investigation
\nand found no evidence corroborating any involvement by the Company or its directors, officers or employees in
\nrespect of improper payments. An internal investigation commissioned by Petrobras also found no evidence that
\nConfab obtained any unfair commercial benefit or advantage from Petrobras in return for payments, including
\nimproperly obtained contracts. On June 2, 2022, the Company resolved the investigation by the SEC, and the DOJ
\ninformed that it had closed its parallel inquiry without taking action. Under the settlement with the SEC, the
\nCompany neither admits nor denies the SEC\u2019s findings and on June 24, 2022, paid $53.1 million in disgorgement
\nand prejudgment interest and $25 million for a civil penalty to conclude the matter.
\n
\nIn July 2019, the Company learned that the public prosecutors\u2019 office of Milan, Italy, had completed a preliminary
\ninvestigation into the same alleged payments and had included in the investigation, among other persons, the
\nCompany\u2019s Chairman and Chief Executive Officer, two other board members, Gianfelice Rocca and Roberto Bonatti,
\nand the Company\u2019s controlling shareholder, San Faustin. The Company is not a party to the proceedings. On March
\n22, 2022, upon completion of the evidentiary phase of the trial, the acting prosecutor requested the first-instance
\ncourt in Milan in charge of the case to impose sanctions on our Chairman and Chief Executive Officer, on the other
\ntwo board members, and on San Faustin. The Company\u2019s outside counsel in Italy advised the Company that neither
\nthe case file nor the prosecutor\u2019s request contain or identify any evidence of involvement in, or knowledge of, the
\nalleged wrongdoing by any of the three directors. On May 26, 2022, the first-instance court dismissed the case
\nbrought by the public prosecutor against the defendants for lack of jurisdiction and stated that the criminal
\nproceeding should not have been initiated. On October 7, 2022, the public prosecutor filed an appeal against the
\nfirst-instance court\u2019s decision. On February 22, 2024, the court of appeals referred the case to the court of cassation,
\nwhich will be in charge of determining whether or not the Italian courts have jurisdiction over the matter.
\n
\nIn June 2020, the Brazilian public prosecutors\u2019 office requested the indictment of several individuals, including three
\nexecutives or former executives of Confab and a former agent of Confab, charging them with the alleged crimes
\nof corruption in relation to contracts executed between 2007 and 2010, and money laundering in relation to
\npayments between 2009 and 2013. These criminal proceedings are underway. Neither the Company nor Confab is
\na party to these criminal proceedings.
\n
\nIn addition, Petrobras and the Brazilian public prosecutors filed civil claims for damages against, among others,
\nConfab and the Confab executives named in the criminal proceedings referred to above. Confab became aware of
\nthese civil claims in September 2022. As of December 31, 2023, the aggregate amount of these claims was
\nestimated at BRL322.2 million (or approximately $66.6 million). The plaintiffs also seek that Confab be prohibited
\nfrom contracting with, or receiving benefits or exemptions from, the Brazilian state for an unspecified term. Confab
\nbelieves these claims do not address either the defense arguments or the evidence available to the plaintiffs in Brazil
\nand presented in other jurisdictions and is vigorously contesting them. At this stage, the Company cannot predict
\nthe outcome of these civil proceedings.
\n
\n\u25aa
\nPutative class actions
\n
\nFollowing the Company\u2019s November 27, 2018, announcement that its Chairman and CEO Paolo Rocca had been
\nincluded in an Argentine court investigation known as the Notebooks Case (a decision subsequently reversed by a
\nhigher court), two putative class action complaints were filed in the U.S. District Court for the Eastern District of
\nNew York. On April 29, 2019, the court consolidated the complaints into a single case, captioned \u201cIn re Tenaris
\nS.A. Securities Litigation\u201d, and appointed lead plaintiffs and lead counsel.
\n
\n
\n7
\n This note was updated subsequently to the approval of these Consolidated Financial Statements by the Company\u2019s Board of Directors on
\nFebruary 21, 2024.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nOn July 19, 2019, the lead plaintiffs filed an amended complaint purportedly on behalf of purchasers of Tenaris
\nsecurities during the putative class period of May 1, 2014, through December 5, 2018. The individual defendants
\nnamed in the complaint are Tenaris\u2019s Chairman and CEO and Tenaris\u2019s former CFO. The complaint alleges that
\nduring the class period, the Company and the individual defendants inflated the Tenaris share price by failing to
\ndisclose that the nationalization proceeds received by Ternium (in which the Company held an 11.46% stake) when
\nSidor was expropriated by Venezuela were received or expedited as a result of allegedly improper payments made
\nto Argentine officials. The complaint does not specify the damages that plaintiff is seeking.
\n
\nOn October 9, 2020, the court granted in part and denied in part the defendants\u2019 motions to dismiss. The court
\npartially granted and partially denied the motion to dismiss the claims against the Company and its Chairman and
\nCEO. In addition, the court granted the motions to dismiss as to all claims against San Faustin, Techint, and Tenaris\u2019s
\nformer CFO.
\n
\nOn November 11, 2022, the parties filed a joint notice of settlement announcing a settlement in principle of all
\nclaims in the action, subject to finalizing the settlement agreements and court approval. The parties\u2019 agreement in
\nprinciple provides that, in exchange for dismissal of the action and customary releases from class members and with
\nno admission of liability by Tenaris or Mr. Rocca, Tenaris will pay to the class $9.5 million (inclusive of legal fees to
\nlead plaintiff\u2019s counsel).
\n
\nOn April 10, 2023, the court granted preliminary approval to the class settlement. The final settlement approval
\nhearing was set for October 19, 2023, and on that date the court ordered that, prior to granting final settlement
\napproval, the lead plaintiffs submit on or before March 29, 2024, an update letter advising the court of the status
\nof the claims processing.
\n
\n\u25aa
\nAdministrative proceeding concerning Brazilian tax credits
\n
\nConfab is a party to an administrative proceeding concerning the recognition and transfer of tax credits for an
\namount allegedly exceeding the amount that Confab would have been entitled to recognize and / or transfer. The
\nproceeding resulted in the imposition of a fine against Confab representing approximately 75% of the allegedly
\nundue credits, which was appealed by Confab. On January 21, 2019, Confab was notified of an administrative
\ndecision denying Confab\u2019s appeal, thereby upholding the tax determination and the fine against Confab. On
\nJanuary 28, 2019, Confab challenged such administrative decision. Special appeals were filed by Confab in July
\n2023 and by the Brazilian General Tax Attorney (\u201cPGFN\u201d) in September 2023. The parties are currently awaiting a
\nresolution. In case of an unfavorable resolution, Confab may appeal before the courts. The estimated amount of
\nthis claim is BRL60.7 million (approximately $12.5 million). At this stage, the Company cannot predict the outcome
\nof this claim.
\n
\n\u25aa
\nU.S. patent infringement litigation
\n
\nTenaris Coiled Tubes, LLC (\u201cTCT\u201d), a U.S. subsidiary of the Company, was sued in 2017 by its competitor Global
\nTubing, alleging defamatory conduct by TCT and seeking a declaration that certain Global Tubing products do not
\ninfringe patents held by TCT. TCT counterclaimed that certain Global Tubing products did infringe patents held by
\nTCT, and Global Tubing has since sought to invalidate such patents. On December 13, 2019, Global Tubing filed
\nan amended complaint (including the Company as defendant), alleging, among other things, that TCT and the
\nCompany had misled the patent office. On March 20, 2023, the judge granted summary judgment in favor of
\nGlobal Tubing, concluding that the patents at issue are unenforceable due to inequitable conduct during the patent
\nprosecution process. TCT appealed this judgment, and Global Tubing appealed a previous ruling of the judge. Global
\nTubing also filed a brief seeking to recover attorneys\u2019 fees, without specifying the amount of those fees. Although
\nit is not possible to predict the final outcome of this matter, the Company believes that any potential losses arising
\nfrom this case will not be material.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\u25aa
\nU.S. Antidumping Duty Investigations
\n
\nOn October 27, 2021, the U.S. Department of Commerce (\u201cDOC\u201d) initiated antidumping duty investigations of oil
\ncountry tubular goods (\u201cOCTG\u201d) from Argentina, Mexico, and Russia. After the DOC issued affirmative preliminary
\nand final antidumping determinations with respect to imports from Argentina, Mexico and Russia on October 27,
\n2022, the International Trade Commission (\u201cITC\u201d) determined that the imports under investigation caused injury to
\nthe U.S. OCTG industry. Tenaris and other parties have appealed the agency determinations from the investigation
\nto the Court of International Trade. In addition, in response to a request from the Government of Argentina, the
\nWorld Trade Organization (\u201cWTO\u201d) established a panel of experts to consider whether the DOC\u2019s antidumping
\norder applicable to Argentina is consistent with the international obligations of the United States. As a result of the
\ninvestigation, and unless overturned on appeal, Tenaris is required to pay antidumping duty deposits (at a rate of
\n78.30% for imports from Argentina and 44.93% for imports from Mexico) until such time the imports are reviewed
\nby the DOC to determine whether final duties are necessary for the specific period under review. Tenaris has been
\npaying such deposits since May 11, 2022, reflecting the amount of such deposits in its costs. The deposit rates may
\nbe reset periodically based on the results of the review process. It is possible that, through the periodic review
\nprocess, the deposits may be either returned to Tenaris in whole or in part, or may be increased.
\n
\n\u25aa
\nPotential dispute with agent in the Middle East
\n8
\n
\n
\nConsistent with local practice in certain Middle East countries, Tenaris Global Services S.A. (\u201cTGSU\u201d), a Uruguayan
\nsubsidiary of the Company, sells materials to a local agent, and the agent then resells the materials to customers in
\nthe region. Tenaris is not a party to the contracts between the agent and each customer. In one such contract
\nentered into in mid-2021, with pending obligations of approximately $520 million and deliveries until 2025, the
\nagent agreed to supply Tenaris-produced casing and tubing of different sizes to the customer. Subsequent events
\nled to onerous increases in prices and delays to supply the materials and led to lengthy discussions between the
\nparties. The customer paid a significant portion of such increased costs and, as a result, the dispute was
\nsettled.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n8
\n This note was updated subsequently to the approval of these Consolidated Financial Statements by the Company\u2019s Board of Directors on
\nFebruary 21, 2024.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag804": {
"value": "\n(ii) Commitments and guarantees
\n
\nSet forth is a description of the Tenaris\u2019s main outstanding commitments:
\n
\n\u25aa Certain subsidiaries of the Company entered into a contract with Praxair S.A. for the service of oxygen and
\nnitrogen supply. As of December 31, 2023, the aggregate amount to take or pay the committed volumes for an
\noriginal 14-year term totaled approximately $32.7 million.
\n
\n\u25aa A subsidiary of the Company entered into a 25-year contract (effective as of December 1, 2016, through
\nDecember 1, 2041) with Techgen for the supply of 197 MW (which represents 22% of Techgen\u2019s capacity).
\nMonthly payments are determined on the basis of capacity charges, operation costs, back-up power charges,
\nand transmission charges. As of the seventh contract year (as long as Techgen\u2019s existing or replacing bank facility
\nhas been repaid in full), the Company\u2019s subsidiary has the right to suspend or early terminate the contract if the
\nrate payable under the agreement is higher than the rate charged by the
\nComisi\u00f3n Federal de Electricidad
\n
\n(\u201cCFE\u201d) or its successors. The Company\u2019s subsidiary may instruct Techgen to sell to any affiliate, to CFE, or to
\nany other third party all or any part of unused contracted energy under the agreement and the Company\u2019s
\nsubsidiary will benefit from the proceeds of such sale.
\n
\n\u25aa A U.S. subsidiary of the Company is a party to a contract with Nucor Steel Memphis Inc. under which it is
\ncommitted to purchase on a monthly basis a specified minimum volume of steel bars, at prices subject to
\nquarterly adjustments. The contract became effective upon delivery of the first purchase order, which occurred
\nin April 2021, with an original duration of 3 years. In September 2023, the parties agreed to extend its term
\nuntil December 31, 2024. As of December 31, 2023, the estimated aggregate contract amount calculated at
\ncurrent prices, was approximately $73.7 million. The contract gives the subsidiary of the Company the right to
\ntemporarily reduce the quantities to be purchased thereunder to 75% of the agreed-upon minimum volume in
\ncases of material adverse changes in prevailing economic or market conditions.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\u25aa In connection with the closing of the acquisition of IPSCO, a U.S. subsidiary of the Company entered into a 6-
\nyear master distribution agreement (the \u201cMDA\u201d) with PAO TMK (\u201cTMK\u201d) whereby, since January 2, 2020,
\nTenaris became the exclusive distributor of TMK\u2019s OCTG and line pipe products in United States and Canada. At
\nthe end of the MDA\u2019s 6-year term, TMK would have the option to extend the duration of its term for an
\nadditional 12-month period. Under the MDA, the Company is required to purchase specified minimum volumes
\nof TMK-manufactured OCTG and line pipe products, based on the aggregate market demand for the relevant
\nproduct category in the United States in the relevant year. In February 2022, however, the Company and TMK
\nagreed that there would be no minimum yearly purchase requirement for the OCTG product category for the
\nyear ended December 31, 2022, and there would be no minimum yearly purchase requirement for TMK line
\npipe products under the MDA neither for the contract year ended December 31, 2022, nor for any subsequent
\ncontract year until expiration of the MDA\u2019s term. In addition, no purchases of TMK products were made during
\n2023. The parties are currently discussing the termination of the MDA.
\n
\n\u25aa A Brazilian subsidiary of the Company entered into a contract with Usiminas and Gerdau from which it
\ncommitted to purchase steel coils for a remaining amount of approximately $109.6 million to use for
\nmanufacturing welded pipes for the Raia fields project in Brazil.
\n
\n\u25aa A subsidiary of the Company entered into a contract with the supplier JFE Steel Corporation for the purchase of
\ntubular material, including 13 Chrome alloy products following the closure of NKKTubes. Such contract foresees
\na penalty for a maximum amount of $30.9 million in case of early termination.
\n
\nIn addition, Tenaris (i) applied for stand-by letters of credit as well as corporate guarantees covering certain
\nobligations of Techgen as described in note 14 (c) and (ii) issued performance guarantees mainly related to long-
\nterm commercial contracts with several customers and parent companies for approximately $3.6 billion as of
\nDecember 31, 2023.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag818": {
"value": "\n28 Cancellation of title deed in Saudi Steel Pipe Company
\n
\nIn early 2021, the Company learned through the Saudi Ministry of Justice\u2019s online portal that the electronic title
\ndeeds to certain land plots of its Saudi Arabian subsidiary SSPC had become inactive due to cancellation by court
\norder.
\n
\nThe affected land plots, with a total surface of 811,284 square meters, are located in Dammam, Saudi Arabia, and
\nwere purchased from a private entity on February 2010, pursuant to a written purchase agreement duly executed
\nby SSPC in full compliance with the laws of the Kingdom of Saudi Arabia. The purchase of the land occurred before
\nTenaris\u2019s acquisition of a 47.79% interest in SSPC in 2019. The affected plots are not part of the production facility
\nof SSPC, have been partially used as a warehouse, and have a carrying value on Tenaris\u2019s financial statements of
\n$56.2 million.
\n
\nAs of the date hereof, neither the cancellation nor the court order have been notified to SSPC or otherwise been
\nmade public by the authorities, and the legal basis for the court order is unknown. On May 4, 2021, SSPC filed a
\npetition with an ad-hoc created special committee at the Saudi Ministry of Justice, seeking to have its title deeds
\nreinstated. At this time, it is not possible to predict the outcome of this matter.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n29 Foreign exchange control measures in Argentina
\n
\nBetween September 2019 and December 13, 2023, the Argentine government imposed significant restrictions on
\nforeign exchange transactions. Although after a new administration took office in Argentina in December 2023
\ncertain restrictions were eased and other changes to such regulations are expected, at the date of these
\nConsolidated Financial Statements the application of existing foreign exchange regulations remains uncertain, and
\nthe scope and timing of upcoming changes remain unknown. The main currently applicable measures are described
\nbelow:
\n
\n\u25aa Foreign currency proceeds derived from exports of goods must be sold into the Argentine foreign exchange
\nmarket (\u201cMULC\u201d) and converted into Argentine pesos within 60 days (if made to related parties) or 180
\ndays (if made to unrelated parties) from shipment date, or, if collected earlier, within five days of collection.
\nForeign currency proceeds from exports of services must be sold into the MULC and converted into
\nArgentine pesos within five business days of collection. As from December 13, 2023, up to 20% of export
\nproceeds can be sold for Argentine pesos through securities transactions resulting in a higher implicit
\nexchange rate, as described further below. This percentage has changed and is expected to change over
\ntime.
\n
\n\u25aa Access to the MULC to pay for imports of services rendered by related and non-related parties (including
\nroyalties) on or before December 12, 2023, is subject to Argentine Central Bank approval. Currently, these
\napprovals are rarely, if ever, granted. Access to the MULC to pay for imports of services that were rendered
\nor accrued as from December 13, 2023, does not require government approval, but payment is deferred
\n30 calendar days as from the date of supply or accrual of the service (if the service was rendered by a non-
\nrelated party) or 180 calendar days (if rendered by a related party).
\n
\n\u25aa Access to the MULC to pay for imports of goods is subject to several restrictions. For example, advance
\npayments or at sight cannot be made. In addition:
\n
\n- Access to the MULC to pay for imports of goods that obtained customs clearance on or before
\nDecember 12, 2023 requires the prior Argentine Central Bank approval. The Argentine Central Bank is
\ncurrently issuing newly created Bonds (\u201cBOPREALs\u201d) with a maturity of 4 years (i.e., maturing in 2027)
\nthat can only be purchased in Argentine Pesos in primary offerings by debtors of any such import debts;
\nsuch bonds can then be sold for a price payable in foreign currency that can be subsequently used to
\npay suppliers without subjecting the importer to any restriction to enter into any other foreign
\nexchange transaction in the MULC. A secondary market for the BOPREALs is still in formation. In
\naddition, from April 1, 2024 any such importer who purchased BOPREALs in primary offerings may
\nenter into the securities transactions described below to obtain foreign currency (for an amount that
\ndoes not exceed the difference in USD between the nominal value of the bonds and their market prices)
\nand use such foreign currency to pay the above-mentioned import debts, without subjecting the
\nimporter to any restriction to enter into any other foreign exchange transaction in the MULC.
\n
\n- Access to the MULC to pay for imports that have obtained customs clearance as from December 13,
\n2023, does not require government approval but, it requires that the price is paid in four equal
\ninstalments payable on the 30
\nth
\n, 60
\nth
\n, 90
\nth
\n and 120
\nth
\n day counted from the customs clearance of the
\ngood imported.
\n
\n\u25aa Access to the MULC to make dividend payments requires prior Argentine Central Bank approval. When
\nrequired, Argentine Central Bank approvals are rarely, if ever, granted.
\n
\nThe above-described measures substantially limit the ability of Argentine companies to obtain foreign currency and
\nmake certain payments and distributions out of Argentina through the MULC at the official exchange rate.
\n
\nAccess to foreign currency and transfers out of Argentina can be achieved, however, through securities transactions
\ninvolving bonds or shares with multiple listings, resulting in a different implicit exchange rate, generally higher than
\nthe official exchange rate. Such transactions are subject to certain restrictions and limits, which change from time
\nto time, and often result in a financial loss being generated at the time of making any such transaction. For example,
\nin the past, the Argentine Securities Commission imposed several additional restrictions on such securities
\ntransactions, including a requirement to give prior notice to the Argentine government of any proposed transfer of
\nsecurities outside of Argentina and a limitation on the amount of any such transfers. The new Argentine Securities
\nCommission\u2019s authorities has loosened certain of such limitations, although it is not clear if it will further eliminate
\nor loosen remaining restrictions.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nDuring May 2023, two Argentine subsidiaries of the Company, approved the distribution of dividends in kind to
\ntheir foreign shareholders, which were paid with U.S. dollar-denominated Argentine bonds that, in the Argentine
\nmarket had a valuation of approximately $356 million. Considering that, as a result of the foreign exchange
\nrestrictions in force, the value of such bonds in the international market as of the distribution date, was
\napproximately $174.1 million, the Company recorded a negative equity reserve (FVOCI). Subsequently, the valuation
\nof such bonds in the international market increased. With the disposal of a portion of these instruments, the
\nCompany partially reclassified such reserve to financial results. The FVOCI as of December 31, 2023, amounted to
\napproximately $13.1 million.
\n
\nThe exchange rate of the Argentine peso against the U.S. dollar devaluated by more than 100% upon the change
\nof government. Tenaris\u2019s financial position in Argentine pesos as of December 31, 2023, amounted to a net short
\nexposure of approximately $135 million. In the event of an additional devaluation, our Argentine subsidiaries, which
\nhold U.S. dollar-denominated Argentine bonds for an aggregated value of $208.6 million, may be adversely
\naffected, and will also suffer a loss on deferred tax charge as a result of a deterioration on the tax value of their
\nfixed assets. At this time, the Company is unable to estimate all impacts of a new devaluation of the Argentine peso
\nagainst the U.S. dollar.
\n
\nAs of December 31, 2023, the total equity of Argentine subsidiaries represented approximately 9% of Tenaris\u2019s
\ntotal equity and the sales made by Argentine subsidiaries during the year ended December 31, 2023, amounted
\napproximately to 22% of Tenaris\u2019s total sales. Assets and liabilities denominated in Argentine peso as of December
\n31, 2023, are valued at the prevailing official exchange rate.
\n
\nThis context of volatility and uncertainty remains in place as of the issue date of these Consolidated Financial
\nStatements. Management continues to monitor closely the evolution of the main variables affecting its business,
\nidentifying the potential impact thereof on its financial and economic situation and determining the appropriate
\ncourse of action in each case. These Consolidated Financial Statements should be read taking into account these
\ncircumstances.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n35 Nationalization of Venezuelan subsidiaries
\n
\nFollowing the nationalization by the Venezuelan government of the Company\u2019s interests in its majority-owned
\nsubsidiaries TAVSA - Tubos de Acero de Venezuela S.A. (\u201cTavsa\u201d) and Matesi Materiales Sider\u00fargicos S.A (\u201cMatesi\u201d)
\nand in Complejo Sider\u00fargico de Guayana, C.A (\u201cComsigua\u201d), the Company and its wholly-owned subsidiary Talta
\n- Trading e Marketing Sociedad Unipessoal Lda (\u201cTalta\u201d) initiated arbitration proceedings against Venezuela before
\nthe ICSID in Washington D.C. in connection with these nationalizations and obtained favorable awards, which are
\nfinal and not subject to further appeals.
\n
\nMatesi
\n
\nOn January 29, 2016, the tribunal released its award on the arbitration proceeding concerning the nationalization
\nof Matesi. The award upheld Tenaris\u2019s and Talta\u2019s claim and granted compensation in the amount of $87.3 million
\nfor the breaches and ordered Venezuela to pay an additional amount of $85.5 million in pre-award interest,
\naggregating to a total award of $173.0 million (including $0.2 million of legal fees), payable in full and net of any
\napplicable Venezuelan tax, duty or charge.
\n
\nOn June 8, 2018, Tenaris and Talta filed an action in federal court in the District of Columbia to recognize and
\nenforce the award in the United States. On July 17, 2020, the court entered judgment recognizing the Matesi
\naward. The judgment orders Venezuela to pay to Tenaris and Talta an amount of $256.4 million, including principal
\nand post-award interest through the judgment date, and provides for post-judgment interest to accrue on this sum
\nat the U.S. federal statutory rate.
\n
\nTavsa and Comsigua
\n
\nOn December 12, 2016, the tribunal issued its award upholding Tenaris\u2019s and Talta\u2019s claim and granted
\ncompensation in the amount of $137.0 million and ordered Venezuela to pay an additional amount of $76.0 million
\nin pre-award interest and to reimburse Tenaris and Talta $3.3 million in legal fees and ICSID administrative costs. In
\naddition, Venezuela was ordered to pay interest from April 30, 2008, until the day of effective payment at a rate
\nequivalent to LIBOR + 4% per annum.
\n
\nOn June 8, 2018, Tenaris and Talta filed an action in federal court in the District of Columbia to recognize and
\nenforce the award in the United States. On March 29, 2021, the court granted Tenaris\u2019s and Talta\u2019s request to
\nrecognize the Tavsa award and on August 24, 2021, the court entered judgment in favor of Tenaris and Talta and
\nagainst Venezuela in the amount of $276.9 million, with post-judgment interest accruing from the date of judgment
\nat the federal statutory post-judgment interest rate. On November 5, 2021, the court, in response to a motion by
\nTenaris and Talta, amended the judgment amount to $280.7 million, with post-judgment interest continuing to
\naccrue from August 24, 2021, at the federal statutory post-judgment interest rate.
\n
\nTransfer of the Awards and Judgements
\n
\nOn January 25, 2023, Tenaris and Talta entered into an awards purchase agreement with an unaffiliated purchaser
\npursuant to which Tenaris and Talta agreed to sell all of their rights, title and interests in the above-referenced
\nclaims, awards and judgements, including all post-award or post-judgement interest accruing on the awards and
\njudgements, for a purchase price of $81 million, plus a non-refundable signing payment of $1 million as
\nreimbursement of expenses.
\n
\nAfter the U.S. Office of Foreign Assets Control approved the transfer of the awards and judgements to the
\npurchaser, the transfer was consummated on September 7, 2023. As a result, the Company collected $82 million
\nin the year ended December 31, 2023. The Company does not maintain any residual interest in these awards and
\njudgements. The net result derived from this operation amounted to $33.3 million.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n36 Termination of NKKTubes joint venture
\n
\nNKKTubes, a company owned 51% by Tenaris and 49% by JFE Holdings Inc. (\u201cJFE\u201d), used to operate a seamless
\npipe manufacturing facility in Japan, located in the Keihin steel complex owned by JFE. On March 27, 2020, JFE
\ninformed Tenaris of its decision to permanently cease as from JFE\u2019s fiscal year ending March 2024 the operations
\nof its steel manufacturing facilities located at the Keihin complex. On November 2, 2021, Tenaris and JFE agreed to
\nterminate amicably their joint venture and liquidate NKKTubes. On November 2, 2022, Tenaris and JFE entered into
\na definitive wrap-up agreement. NKKTubes was liquidated on April 28, 2023.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n37 Share Buyback Program
\n
\nOn November 1, 2023, the Company\u2019s board of directors approved a share buyback program of up to $1.2 billion
\n(which, at the closing price of November 1, 2023 on the Milan Stock Exchange, would represent approximately
\n75.4 million shares, or 6.4% of the outstanding shares), to be executed within a year, with the intention to cancel
\nthe ordinary shares acquired through the program.
\n
\nThe buyback program is being carried out under the authority granted by the annual general meeting of
\nshareholders held on June 2, 2020, which may be renewed or extended, up to a maximum of 10% of the
\nCompany\u2019s shares. The buybacks may be ceased, paused and continued at any time, subject to compliance with
\napplicable laws and regulations.
\n
\nThe program is divided into tranches. For purposes of carrying out the first tranche of the buyback program, Tenaris
\nentered into a non-discretionary buyback agreement with a primary financial institution that makes trading decisions
\nconcerning the timing of the purchases of Tenaris\u2019s ordinary shares independently of and uninfluenced by Tenaris
\nand must act in compliance with applicable rules and regulations, including the Market Abuse Regulation 596/2014
\nand the Commission Delegated Regulation (EU) 2016/1052. Under the buyback agreement, purchases of shares
\nmay continue during any blackout periods.
\n
\nDuring 2023, the Company purchased 12,648,091 shares, for a value of $213.7 million. As of December 31, 2023,
\nthe Company held a liability in connection to the shares to be settled under the first tranche of the buyback program
\nthat amounted to $86.2 million. On January 12, 2024, the first tranche of the share buyback program was
\ncompleted.
\n
\nFurther information on the buyback transactions is available on Tenaris\u2019s corporate website under the Share Buyback
\nProgram Section.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n38 Climate change
\n
\nTenaris carefully assesses the potential impact of climate change and energy transition on its business and on the
\nrisks to its markets and its tangible and intangible assets, and adapts its business strategy accordingly.
\n
\nIn February 2021 Tenaris set a medium-term target to reduce its carbon emissions intensity rate by 30% by 2030,
\ncompared to a 2018 baseline, considering Scopes 1 and 2 emissions plus Scope 3 emissions related to raw materials
\nand steel purchased from third parties. Tenaris encourages the use of sustainable practices among its suppliers and,
\nin March 2023, it adopted a Sustainable Sourcing Policy to enhance its efforts in this area. The new Sustainability
\nSourcing Policy will help Tenaris to understand better the real emission levels of its suppliers and identify further
\nopportunities for improvement. The Company aims to achieve this target by using a higher proportion of recycled
\nsteel scrap in the metallic mix and by making investments to increase energy efficiency and the use of renewable
\nenergy in its energy requirements.
\n
\nIn particular, a large proportion of these investments are being directed to installing renewable energy capacity for
\nuse in the Company\u2019s operations. In October 2023, following an investment of approximately $200 million, Tenaris
\nput into operation a wind farm in Argentina, which supplies 103.2 MW of power, or close to 50% of its total
\nelectric power requirements, through the interconnected grid, to its industrial facilities in Campana. The wind farm
\nwill reduce Tenaris\u2019s CO
\n2
\n emissions at the facility by 152,000 tons per year compared to 2018. In November 2023
\nthe Company\u2019s Board of Directors approved an investment plan to build a second wind farm in Argentina at a cost
\nof approximately $214 million, which would supply a further 30% of the current energy requirements of its facilities
\nin Campana, and reduce Tenaris\u2019s CO
\n2
\n emissions by a further 102,500 tons per year. The medium-term target forms
\npart of a broader objective of decarbonizing our operations and reaching carbon neutrality. At the same time, the
\nCompany is increasing its sales for low-carbon energy applications, such as hydrogen, geothermal and carbon
\ncapture and storage. These sales currently account for a relatively small proportion of overall sales but are expected
\nto grow in the coming years.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nIn its assessment, Tenaris also considers that the countries in which it operates and its customers are also establishing
\ntheir own decarbonization strategies and objectives, and that some customers are requesting specific information
\nfrom their suppliers, including Tenaris, concerning the carbon emissions and Environmental, Social and Governance
\n(\u201cESG\u201d) practices in their supply chain, and that they may adjust their supply practices in light of that information.
\n
\nThe recoverable value assessments performed by the Company for purposes of the preparation of these financial
\nstatements reflects management\u2019s views on energy transition and climate change and their potential medium- and
\nlong-term impact on Tenaris\u2019s operations and its sales. In addition, the Company carefully monitors the medium-
\nand long-term outlook scenarios published by leading industry experts on how the energy transition could affect
\nglobal demand for energy and oil and gas and how this could affect the global demand for tubular products and
\nits sales. Furthermore, estimates and assumptions used in the Company\u2019s impairment tests over long-lived assets
\nand goodwill, useful lives of assets, capital and research and development expenditures, inventory valuation,
\nrecovery of deferred tax assets and provisions, and contingent liabilities are based on available information and
\ncurrent government regulations on energy transition and climate-related matters, as well as on Tenaris\u2019s current
\nshort-term investment plans. As of the date of these financial statements, the Company does not believe that
\nclimate-related matters should trigger any material adjustments to the conclusions of its impairment tests or the
\nvaluation of the above mentioned areas.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAdditionalInformationExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag808": {
"value": "\n30 Cash flow disclosures
\n
\n
\n
\n\n
\n\n\n | \n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n2023 | \n2022 | \n2021 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (i) | \nChanges in working capital (*) | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nInventories | \n186,903 | \n(1,329,865) | \n(1,085,024) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nReceivables and prepayments and current tax assets | \n64,000 | \n(155,449) | \n(79,912) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nTrade receivables | \n153,920 | \n(1,208,278) | \n(356,069) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nOther liabilities | \n28,275 | \n57,389 | \n4,892 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nCustomer advances | \n(101,646) | \n151,066 | \n44,661 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nTrade payables | \n(149,024) | \n353,892 | \n399,988 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n182,428 | \n(2,131,245) | \n(1,071,464) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (ii) | \nIncome tax accruals less payments | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nTax accrued | \n674,956 | \n617,236 | \n189,448 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nTaxes paid | \n(818,347) | \n(359,585) | \n(153,846) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n(143,391) | \n257,651 | \n35,602 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (iii) | \nInterest accruals less payments, net | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nInterest accrued, net | \n(106,612) | \n(34,080) | \n(14,371) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nInterest received | \n147,473 | \n68,335 | \n24,567 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nInterest paid | \n(94,341) | \n(32,775) | \n(21,559) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n(53,480) | \n1,480 | \n(11,363) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(*)
\nChanges in working capital do not include non-cash movements due to the variations in the exchange rates used by subsidiaries with functional
\ncurrencies different from the U.S. dollar.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag809": {
"value": "\n
\n31 Related party transactions
\n
\nAs of December 31, 2023:
\n
\n\u25aa San Faustin owned 713,605,187 shares in the Company, representing 60.45% of the Company\u2019s capital
\nand 61.10% of the voting rights.
\n
\n\u25aa San Faustin owned all of its shares in the Company through its wholly-owned subsidiary Techint, a
\nLuxembourg
\nsoci\u00e9t\u00e9 \u00e0 responsabilit\u00e9 limit\u00e9e
\n, who is the holder of record of the above-mentioned Tenaris
\nshares.
\n
\n\u25aa Rocca & Partners Stichting Administratiekantoor Aandelen San Faustin, a private foundation located in the
\nNetherlands (
\nStichting
\n) (\u201cRP STAK\u201d) held voting shares in San Faustin sufficient in number to control San
\nFaustin.
\n
\n\u25aa No person or group of persons controls RP STAK.
\n
\n\nBased on the information most recently available to the Company, Tenaris\u2019s directors and senior management as a
\ngroup owned 0.07% of the Company\u2019s issued shares.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nTransactions and balances disclosed as with \u201cnon-consolidated parties\u201d are those with companies over which
\nTenaris exerts significant influence in accordance with IFRS, but does not have control. Transactions and balances
\ndisclosed as with \u201cjoint ventures\u201d are those with companies over which Tenaris exerts joint control in accordance
\nwith IFRS, but does not have control. All other transactions and balances with related parties which are not non-
\nconsolidated parties and which are not consolidated are disclosed as \u201cOther\u201d. The following transactions were
\ncarried out with related parties:
\n
\n
\n
\n
\n\n
\n\n\n | \n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (i) | \nTransactions | \n2023 | \n2022 | \n2021 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n(a) Sales of goods and services | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nSales of goods to associated companies | \n56,152 | \n100,019 | \n71,879 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nSales of goods to other related parties | \n121,679 | \n151,884 | \n76,467 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nSales of services to associated companies | \n1,564 | \n1,472 | \n1,164 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nSales of services to joint ventures | \n135 | \n131 | \n130 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nSales of services to other related parties | \n109,553 | \n109,123 | \n49,268 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n289,083 | \n362,629 | \n198,908 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n(b) Purchases of goods and services | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nPurchases of goods to associated companies | \n324,556 | \n555,257 | \n225,319 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nPurchases of goods to joint ventures | \n72,741 | \n101,620 | \n69,610 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nPurchases of goods to other related parties | \n61,366 | \n51,040 | \n32,453 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nPurchases of services to associated companies | \n13,349 | \n13,759 | \n9,763 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nPurchases of services to other related parties | \n76,751 | \n36,767 | \n13,806 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n548,763 | \n758,443 | \n350,951 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n(c) Financial Results | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nIncome from joint ventures | \n5,645 | \n3,804 | \n2,867 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n5,645 | \n3,804 | \n2,867 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n(d) Dividends | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nDividends received from associated companies | \n69,216 | \n64,189 | \n78,926 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nDividends distributed to Techint Holdings S.\u00e0r.l. | \n385,347 | \n321,122 | \n192,673 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n\n\n
\n\n\n | \n | \nAt December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (ii) | \nPeriod-end balances | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n(a) Arising from sales / purchases of goods / services | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nReceivables from associated companies | \n7,589 | \n9,012 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nReceivables from joint ventures | \n63,374 | \n60,123 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nReceivables from other related parties | \n62,986 | \n78,370 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nPayables to associated companies | \n (21,012) | \n (113,738) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nPayables to joint ventures | \n (28,361) | \n (28,490) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nPayables to other related parties | \n (11,488) | \n (13,283) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n73,088 | \n(8,006) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n(b) Financial debt | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nFinance lease liabilities from associated companies | \n (1,459) | \n (1,650) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nFinance lease liabilities from other related parties | \n (375) | \n (483) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n(1,834) | \n(2,133) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
In addition to the tables above, the Company issued various guarantees in favor of Techgen; for further details,
\nplease see note 14 (c and d) and note 27 (ii) to these Consolidated Financial Statements. No other material
\nguarantees were issued in favor of other related parties.
\n
\nDirectors and senior management compensation
\n
\nDuring the years ended December 31, 2023, 2022 and 2021, the cash compensation of Directors and Senior
\nmanagers amounted to $47.5 million, $35.2 million and $37.7 million respectively. These amounts include cash
\nbenefits paid to certain senior managers in connection with the pre-existing retirement plans. In addition, Directors
\nand Senior managers received 388, 437 and 382 thousand units for a total amount of $5.6 million, $5.1 million
\nand $3.9 million respectively in connection with the Employee retention and long-term incentive program
\nmentioned in note II.P.3 \u201cEmployee benefits \u2013
\nOther long-term benefits\u201d
\n to these Consolidated Financial
\nStatements.
\n
\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag810": {
"value": "San Faustin",
"dimensions": {
"concept": "ifrs-full:NameOfParentEntity",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag811": {
"value": "RP STAK",
"dimensions": {
"concept": "ifrs-full:NameOfUltimateParentOfGroup",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag812": {
"value": "\nBased on the information most recently available to the Company, Tenaris\u2019s directors and senior management as a
\ngroup owned 0.07% of the Company\u2019s issued shares.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n | \n | \nAt December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (ii) | \nPeriod-end balances | \n2023 | \n2022 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n(a) Arising from sales / purchases of goods / services | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nReceivables from associated companies | \n7,589 | \n9,012 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nReceivables from joint ventures | \n63,374 | \n60,123 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nReceivables from other related parties | \n62,986 | \n78,370 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nPayables to associated companies | \n (21,012) | \n (113,738) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nPayables to joint ventures | \n (28,361) | \n (28,490) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nPayables to other related parties | \n (11,488) | \n (13,283) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n73,088 | \n(8,006) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n(b) Financial debt | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nFinance lease liabilities from associated companies | \n (1,459) | \n (1,650) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nFinance lease liabilities from other related parties | \n (375) | \n (483) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n(1,834) | \n(2,133) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
In addition to the tables above, the Company issued various guarantees in favor of Techgen; for further details,
\nplease see note 14 (c and d) and note 27 (ii) to these Consolidated Financial Statements. No other material
\nguarantees were issued in favor of other related parties.
\n
\nDirectors and senior management compensation
\n
\nDuring the years ended December 31, 2023, 2022 and 2021, the cash compensation of Directors and Senior
\nmanagers amounted to $47.5 million, $35.2 million and $37.7 million respectively. These amounts include cash
\nbenefits paid to certain senior managers in connection with the pre-existing retirement plans. In addition, Directors
\nand Senior managers received 388, 437 and 382 thousand units for a total amount of $5.6 million, $5.1 million
\nand $3.9 million respectively in connection with the Employee retention and long-term incentive program
\nmentioned in note II.P.3 \u201cEmployee benefits \u2013
\nOther long-term benefits\u201d
\n to these Consolidated Financial
\nStatements.
\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag814": {
"value": "\n32 Principal accountant fees
\n
\nTotal fees accrued for professional services rendered by PwC Network firms to Tenaris S.A. and its subsidiaries are
\ndetailed as follows:
\n
\n
\n\n
\n\n\n | \nYear ended December 31, | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n2023 | \n2022 | \n2021 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Audit fees | \n4,386 | \n3,966 | \n3,804 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Audit-related fees | \n273 | \n255 | \n220 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Tax fees | \n148 | \n - | \n - | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| All other fees | \n14 | \n11 | \n5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total | \n4,821 | \n4,232 | \n4,029 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\nIn addition, PwC Network firms rendered $242 thousand for tax services to the recently acquired Mattr\u2019s pipe
\ncoating business unit.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag816": {
"value": "\n33 Principal subsidiaries
\n
\nThe following is a list of Tenaris\u2019s principal subsidiaries and its direct and indirect percentage of ownership of each
\ncontrolled company at December 31, 2023.
\n
\n\n
\n\n\n | \nCountry of | \n | \nPercentage of ownership | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Company | \n | \nMain activity | \nat December 31, (*) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nIncorporation | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n | \n2023 | \n2022 | \n2021 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| ALGOMA TUBES INC. | \nCanada | \nManufacturing of welded and seamless | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| steel pipes | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| BREDERO SHAW INTERNATIONAL B.V. and | \nNetherlands | \nHolding company and supplier of pipe | \n100% | \nNA | \nNA | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| subsidiaries | \ncoating services | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| CONFAB INDUSTRIAL S.A. and subsidiaries | \nBrazil | \nManufacturing of welded steel pipes | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| DALMINE S.p.A. and subsidiaries | \nItaly | \nManufacturing of seamless steel pipes | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| EXIROS B.V. and subsidiaries (a) | \nNetherlands | \nProcurement and trading services | \n50% | \n50% | \n50% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| HYDRIL COMPANY and subsidiaries | \nUSA | \nManufacture and marketing of premium | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| connections | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| MAVERICK TUBE CORPORATION and subsidiaries | \nUSA | \nManufacturing of welded and seamless | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| steel pipes | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| P.T. SEAMLESS PIPE INDONESIA JAYA | \nIndonesia | \nManufacturing of seamless steel | \n89% | \n89% | \n89% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| products | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| S.C. SILCOTUB S.A. | \nRomania | \nManufacturing of seamless steel pipes | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| SAUDI STEEL PIPE CO. and subsidiaries (b) | \nSaudi Arabia | \nManufacturing of welded steel pipes | \n48% | \n48% | \n48% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| SIAT SOCIEDAD ANONIMA | \nArgentina | \nManufacturing of welded steel pipes | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| SIDERCA SOCIEDAD ANONIMA INDUSTRIAL Y | \nArgentina | \nManufacturing of seamless steel pipes | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| COMERCIAL and subsidiaries (c) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| TALTA - TRADING E MARKETING SOCIEDADE | \nPortugal | \nHolding company | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| UNIPESSOAL LDA. | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| TENARIS BAY CITY, INC. | \nUSA | \nManufacturing of welded and seamless | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| steel pipes | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| TENARIS CONNECTIONS BV | \nNetherlands | \nDevelopment, management and | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| licensing of intellectual property | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| TENARIS FINANCIAL SERVICES S.A. | \nUruguay | \nFinancial company | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| TENARIS GLOBAL SERVICES (CANADA) INC. | \nCanada | \nMarketing of steel products | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| TENARIS GLOBAL SERVICES (U.S.A.) | \nUSA | \nMarketing of steel products | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| CORPORATION | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| TENARIS GLOBAL SERVICES (UK) LTD | \nUnited | \nHolding company and marketing of | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Kingdom | \nsteel products | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| TENARIS GLOBAL SERVICES S.A. and subsidiaries | \nUruguay | \nHolding company, marketing and | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| distribution of steel products | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| TENARIS INVESTMENTS (NL) B.V. and subsidiaries | \nNetherlands | \nHolding company | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| TENARIS GLOBAL SERVICES and INVESTMENTS | \nLuxembourg | \nHolding company | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| S.\u00e0r.l. and subsidiaries | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| TENARIS QINGDAO STEEL PIPES LTD. | \nChina | \nProcessing of premium joints, couplings | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| and automotive components | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| TENARIS TUBOCARIBE LTDA. | \nColombia | \nManufacturing of welded and seamless | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| steel pipes | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| TUBOS DE ACERO DE MEXICO, S.A. and | \nMexico | \nManufacturing of seamless steel pipes | \n100% | \n100% | \n100% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| subsidiaries | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n(*)
\n All percentages rounded.
\nTenaris holds 40% of Tubular Technical Services Ltd. and Pipe Coaters Nigeria Ltd., 49% of Tubulars Finishing Nigeria Limited, 49% of Amaja
\nTubular Services Limited, 60% of Tenaris Baogang Baotou Steel Pipes Ltd. Until 2022 held 98.4% of Tenaris Supply Chain S.A. and, until 2021
\nheld 49% of Tubular Services Angola Lda. after which years it started holding 100% of each of both companies.
\n(a) Tenaris holds 50% of the voting rights. The Company recognizes the assets, liabilities, revenue and expenses in relation to its interest in the
\njoint operation.
\n(b) Saudi Steel Pipe Co. is a public company listed in the Saudi Arabian Stock Exchange (Tad\u0101wul), Tenaris holds 47.79% and has the right to
\nnominate the majority of the votes of the board of directors, therefore Tenaris has control over SSPC. Since May, 2023, Saudi Steel Pipe Co.
\nholds 57.3% of Global Pipe Company, therefore Tenaris has control over GPC.
\n(c) Until its liquidation in April 2023, Siderca held 51% of NKKTubes.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag696": {
"value": "\n34 Business combinations
\n
\nThe application of the purchase method requires certain estimates and assumptions, mainly concerning the
\ndetermination of the fair values of the acquired intangible assets, property, plant and equipment as well as the
\nliabilities assumed at the date of the acquisition, including the timing and amounts of cash flow projections, the
\nrevenue growth rates, the customer attrition rates and the discount rate. The fair values determined at the
\nacquisition date are based on discounted cash flows and other valuation techniques.
\n
\nThe preliminary purchase price allocations were carried out with the assistance of third-party experts. Following IFRS
\n3, the Company will continue reviewing the allocations and make any necessary adjustments during the twelve
\nmonths following each of the acquisition dates.
\n
\nWhenever applicable, Tenaris recognizes the non-controlling interest at the proportionate share of the acquiree\u2019s
\nnet identifiable assets.
\n
\nGlobal Pipe Company acquisition
\n
\n\u25aa
\nAcquisition and price determination
\n
\nOn May 17, 2023, SSPC acquired 22.3% of the shares of GPC from Erndtebruecker Eisenwerk (\u201cEEW\u201d), a German
\ncompany that owned a 35% interest in GPC, for a purchase price of $6.3 million, paid in cash. SSPC already owned
\n35% interest in GPC, and, as a result of this transaction, SSPC currently holds a 57.3% interest in GPC.
\n
\nThe Company consolidates GPC\u2019s balances and results of operations as from May 17, 2023. The acquired business,
\nwhich, contributed revenues of $144.2 million with a minor contribution to Tenaris\u2019s results for the period starting
\nMay 17, 2023 and ending December 31, 2023, were assigned to Tubes segment. Had the transaction been
\nconsummated on January 1, 2023, then Tenaris\u2019s unaudited pro forma net sales and net income would not have
\nchanged materially.
\n
\n\u25aa
\nFair value of net assets acquired
\n
\nThe allocation of the fair values determined for the assets and liabilities arising from the acquisition is as follows:
\n
\n
\n\n
\n\n\n| Fair value of acquired assets and liabilities as of acquisition date (May, 17, 2023): | \n$ million | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Property, Plant and Equipment | \n173 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Working capital | \n34 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cash and Cash Equivalents | \n2 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Borrowings | \n(123) | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other assets and liabilities, net | \n(6) | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net assets acquired | \n80 | \n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\nTenaris accounted for this transaction as a step-acquisition whereby Tenaris\u2019s ownership interest in GPC held before
\nthe acquisition, which amounted to $23.5 million, was remeasured to fair value at that date. As a result, Tenaris
\nrecorded a gain of approximately $4.5 million resulting from the difference between the carrying value of its initial
\ninvestments in GPC and the fair value, which was included in
\nEquity in earnings of non-consolidated companies
\n in
\nthe Consolidated Income Statement. The non-controlling interests in GPC amounted to $34.1 million.
\n
\nThe fair value of the net assets and liabilities acquired shown above amounted to approximately $80 million. As a
\nresult of the acquisition, Tenaris recognized an additional gain for approximately $11.5 million also included in
\nEquity in earnings of non-consolidated companies
\n in the Consolidated Income Statement.
\n
\nAcquisition-related costs for the year ended 2022 were not material and for the year ended December 31, 2023,
\namounted to $0.3 million and were included in general and administrative expenses.
\n
\nSSPC and the other owners of GPC have issued corporate guarantees to secure the repayment of loan agreements
\nentered into by GPC with the Saudi Investment Development Fund, the Saudi British Bank, the National Commercial
\nBank and Banque Saudi Fransi to finance GPC\u2019s capital expenditures and working capital.
\n
\nAs a result of this acquisition, SSPC assumed a portion of EEW\u2019s corporate guarantees. As of December 31, 2023,
\nSSPC\u2019s aggregate exposure to GPC\u2019s financial debt amounted to $72 million.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nAcquisition of Anticorrosion Coating Assets in Italy
\n
\n\u25aa
\nAcquisition and price determination
\n
\nOn July 1, 2023, an Italian subsidiary of the Company completed its previously announced acquisition of all of the
\nassets and related rights, duties, liabilities and contracts of Isoplus Mediterranean S.r.l.\u2019s (\u201cIsoplus\u201d) anticorrosion
\ncoating division for EUR9.0 million (approximately $9.8 million) paid in cash.
\n
\nIsoplus was established in 2009 in Villamarzana in Italy. It operates in an area of about 65,000 square meters
\n(covered and uncovered) with pipe pre-insulation (district heating) and anticorrosive coating (oil & gas) production
\nlines.
\n
\nThe Company consolidated Isoplus anticorrosion coating division balances and results of operations as from July 1,
\n2023. The acquired business revenues, assigned to Tubes segment, were not material, with a minor contribution to
\nthe Company\u2019s results for the period starting July 1, 2023 and ending December 31, 2023. Had the transaction
\nbeen consummated on January 1, 2023, then Tenaris\u2019s unaudited pro forma net sales and net income would not
\nhave changed materially.
\n
\n\u25aa
\nFair value of net assets acquired
\n
\nThe allocation of the fair values determined for the assets and liabilities arising from the acquisition is as follows:
\n
\n\n
\n\n\n| Fair value of acquired assets and liabilities as of acquisition date (July, 1, 2023): | \n$ million | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Property, Plant and Equipment | \n11 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Working capital | \n2 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net assets acquired | \n13 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n
\nThe fair value of the net assets and liabilities acquired shown above amounted to approximately $13 million. As a
\nresult of the acquisition, Tenaris recognized an additional gain for approximately $3.2 million also included in
\nOther
\nIncome and Expenses
\n in the Consolidated Income Statement.
\n
\nAcquisition-related costs for year ended December 31, 2023, were not material and were included in general and
\nadministrative expenses.
\n
\n
\nAcquisition of Republic Tube pipe processing facility
\n
\n
\n\u25aa
\nAcquisition and price determination
\n
\nOn September 6, 2023, a U.S. subsidiary of the Company acquired all of the assets and related rights, duties,
\nliabilities and contracts of Republic Tube LLC\u2019s OCTG pipe processing facility in Houston, Texas. The final acquisition
\nprice amounted to $90.5 million in cash.
\n
\nThe plant, located on the northeast side of Houston, adds heat treatment and finishing lines, further complementing
\nTenaris\u2019s existing operations, and increasing its capacity to serve the domestic market.
\n
\nThe Company consolidated the balances and results of operations of the acquired business as from September 6,
\n2023.
\n
\nThe acquired business revenues, assigned to Tubes segment, were not material, with a minor contribution to the
\nCompany\u2019s results for the period starting September 6, 2023, and ending December 31, 2023. Had the transaction
\nbeen consummated on January 1, 2023, then Tenaris\u2019s unaudited pro forma net sales and net income would not
\nhave changed materially.
\n
\n\u25aa
\nFair value of net assets acquired
\n
\nThe allocation of the fair values determined for the assets and liabilities arising from the acquisition is as follows:
\n
\n\n
\n\n\n| Fair value of acquired assets and liabilities as of acquisition date (September, 6, 2023): | \n$ million | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Property, Plant and Equipment | \n85 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Working capital | \n(1) | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other assets and liabilities, net | \n2 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net assets acquired | \n85 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nThe fair value of the net assets and liabilities acquired shown above amounted to approximately $85.5 million. As
\na result of the acquisition, Tenaris recognized goodwill for approximately $5.0 million. The goodwill is deductible
\nfor tax purposes.
\n
\nThe goodwill generated by the acquisition is mainly attributable to the synergy created following the integration
\nbetween the businesses, which is expected to enhance Tenaris\u2019s position as well as its local manufacturing presence
\nin the U.S. market, and also expand its services capabilities.
\n
\nAcquisition-related costs for the year ended December 31, 2023, amounted to $0.5 million and were included in
\ngeneral and administrative expenses.
\n
\nAcquisition of the Pipe Coating Business Unit of Mattr
\n
\n
\n\u25aa
\nAcquisition and price determination
\n
\nOn November 30, 2023, Tenaris completed the acquisition of Mattr\u2019s pipe coating business unit for $182.6 million
\npaid in cash. Under the purchase contract, the acquisition price was paid based on an estimated closing statement;
\nthe final price is subject to a true-up adjustment based on actual amounts of cash, indebtedness, working capital
\nand certain other items as of the closing date, which are currently being assessed by management and will be
\nsubsequently reviewed by the seller.
\n
\nThe business acquired includes nine plants located in Canada, Mexico, Norway, Indonesia, the UAE and the U.S.,
\nand several mobile concrete plants. The business also includes world-class R&D facilities in Toronto and Norway and
\na wide IP/product portfolio.
\n
\nThe Company consolidated the balances and results of operations of the acquired business as from November 30,
\n2023.
\nThe acquired business contributed revenues of $77.0 million mainly related to spot projects, with a minor
\ncontribution to Tenaris\u2019s results for the period starting November 30, 2023 and ending December 31, 2023, were
\nassigned to Others segment. Had the transaction been consummated on January 1, 2023, then Tenaris\u2019s unaudited
\npro forma net sales and net income would not have changed materially.
\n
\n\u25aa
\nFair value of net assets acquired
\n
\nThe allocation of the fair values determined for the assets and liabilities arising from the acquisition is as follows:
\n
\n
\n\n
\n\n\n| Fair value of acquired assets and liabilities as of acquisition date (November 30, 2023): | \n$ million | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Property, Plant and Equipment | \n126 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Intangible assets | \n29 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Working capital | \n(13) | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cash and Cash Equivalents | \n21 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Provisions | \n(7) | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other assets and liabilities, net | \n13 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net assets acquired | \n169 | \n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\nThe fair value of the net assets and liabilities acquired shown above amounted to approximately $169.0 million. As
\na result of the acquisition, Tenaris recognized goodwill for approximately $13.6 million. The goodwill is not
\ndeductible for tax purposes. The allocations of the purchase price will be finalized once all the information is
\nobtained, but not to exceed one year from the acquisition date.
\n
\nAcquisition-related costs for the year ended December 31, 2023, amounted to $1.1 million and were included in
\ngeneral and administrative expenses.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag927": {
"value": "The non-controlling interests in GPC amounted to $34.1 million.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNoncontrollingInterestsExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag699": {
"value": "\n39 Events after the reporting period
\n
\nAnnual Dividend Proposal and Second Tranche of Share Buyback Program
\n9
\n
\n
\nUpon approval of the Company\u00b4s annual accounts in March 2024, the Board of Directors intends to propose, for
\nthe approval of the Annual General Shareholders' meeting to be held on April 30, 2024, the payment of an annual
\ndividend of $0.60 per share ($1.20 per ADS), or approximately $700 million, which includes the interim dividend of
\n$0.20 per outstanding share ($0.40 per ADS) or approximately $235 million, paid on November 22, 2023. If the
\nannual dividend is approved by the shareholders, a dividend of $0.40 per share ($0.80 per ADS), or approximately
\n$465 million will be paid on May 22, 2024, with an ex-dividend date of May 20, 2024. These Consolidated Financial
\nStatements do not reflect this dividend payable.
\n
\nThe second $300 million tranche of the Company\u2019s previously announced $1.2 billion share buyback program began
\non Monday, February 26, 2024, and is expected to end no later than May 24, 2024.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n9
\n This note was updated subsequently to the approval of these Consolidated Financial Statements by the Company\u2019s Board of Directors on
\nFebruary 21, 2024.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
"language": "en",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag928": {
"value": "0.6",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-04-30T00:00:00/2024-05-01T00:00:00",
"unit": "iso4217:USD/xbrli:shares"
}
},
"Tag929": {
"value": "700000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwners",
"entity": "scheme:549300Y7C05BKC4HZB40",
"period": "2024-04-30T00:00:00/2024-05-01T00:00:00",
"unit": "iso4217:USD"
}
},
"footnote9": {
"value": "Mainly related to Global Pipe Company (\u201cGPC\u201d) acquisition. For more information see note 34. ",
"dimensions": {
"concept": "xbrl:note",
"noteId": "footnote9",
"language": "en"
}
},
"footnote11": {
"value": "Other reserves include mainly the result of transactions with non-controlling interests that do not result in a loss of control, the remeasurement of post-employment benefit obligations, the changes in value of cash flow hedges and the changes in
\nfinancial instruments measured at fair value through other comprehensive income.
",
"dimensions": {
"concept": "xbrl:note",
"noteId": "footnote11",
"language": "en"
}
},
"footnote4": {
"value": " As of December 31, 2023, the Company held 12,648,091 shares as treasury shares. For more information see note 37.
",
"dimensions": {
"concept": "xbrl:note",
"noteId": "footnote4",
"language": "en"
}
},
"footnote10": {
"value": "The Company has an authorized share capital of a single class of 2.5 billion shares having a nominal value of $1.00 per share. As of December 31, 2022 and 2021 there were 1,180,536,830 shares issued. All issued shares are fully paid.",
"dimensions": {
"concept": "xbrl:note",
"noteId": "footnote10",
"language": "en"
}
},
"footnote7": {
"value": "Mainly related to the change in the fair value of U.S. dollar-denominated Argentine bonds. For more information see note 29.",
"dimensions": {
"concept": "xbrl:note",
"noteId": "footnote7",
"language": "en"
}
},
"footnote12": {
"value": "Related to NKKTubes\u2019 cease of operations. For more information see note 36 \u201cTermination of NKKTubes joint venture\u201d.",
"dimensions": {
"concept": "xbrl:note",
"noteId": "footnote12",
"language": "en"
}
},
"footnote6": {
"value": "The restrictions on the distribution of profits and payment of dividends according to Luxembourg Law are disclosed in note 27 (iii) to these Consolidated Financial Statements.",
"dimensions": {
"concept": "xbrl:note",
"noteId": "footnote6",
"language": "en"
}
},
"footnote3": {
"value": "The Company has an authorized share capital of a single class of 2.5 billion shares having a nominal value of $1.00 per share. As of December 31, 2023 there were 1,180,536,830 shares issued. All issued shares are fully
\npaid.
",
"dimensions": {
"concept": "xbrl:note",
"noteId": "footnote3",
"language": "en"
}
},
"footnote2": {
"value": "Mainly related to the change in the fair value of U.S. dollar-denominated Argentine bonds. For more information see note 29.",
"dimensions": {
"concept": "xbrl:note",
"noteId": "footnote2",
"language": "en"
}
},
"footnote1": {
"value": "During 2022 as a result of NKKTubes\u2019 definitive cease of operations, the currency translation adjustment reserve belonging to the shareholders was
\nreclassified with impact in the income statement. For more information see note 36 \u201cTermination of NKKTubes joint venture\u201d.
\n
",
"dimensions": {
"concept": "xbrl:note",
"noteId": "footnote1",
"language": "en"
}
},
"footnote15": {
"value": "Changes in working capital do not include non-cash movements due to the variations in the exchange rates used by subsidiaries with
\nfunctional currencies different from the U.S. dollar for an amount of $(16.7) million for 2023, $4.2 million for 2022 and $25.6 million for
\n2021.
",
"dimensions": {
"concept": "xbrl:note",
"noteId": "footnote15",
"language": "en"
}
},
"footnote5": {
"value": "Other reserves include mainly the result of transactions with non-controlling interests that do not result in a loss of control, the remeasurement of post-employment benefit obligations, the changes in value of cash flow
\nhedges and the changes in financial instruments measured at fair value through other comprehensive income.
",
"dimensions": {
"concept": "xbrl:note",
"noteId": "footnote5",
"language": "en"
}
},
"footnote8": {
"value": "For more information see note 37.",
"dimensions": {
"concept": "xbrl:note",
"noteId": "footnote8",
"language": "en"
}
},
"footnote13": {
"value": "Mainly related to the agreement for the construction of Tenaris Baogang Baotou Steel Pipes Ltd.",
"dimensions": {
"concept": "xbrl:note",
"noteId": "footnote13",
"language": "en"
}
},
"footnote14": {
"value": "For 2022, related to NKKTubes\u2019 cease of operations. For more information see note 36 \u201cTermination of NKKTubes joint venture\u201d.",
"dimensions": {
"concept": "xbrl:note",
"noteId": "footnote14",
"language": "en"
}
},
"footnote0": {
"value": "Each ADS equals two shares.",
"dimensions": {
"concept": "xbrl:note",
"noteId": "footnote0",
"language": "en"
}
},
"footnote16": {
"value": "For 2023, related to the GPC, Isoplus anticorrosion coating division, Republic Tube LLC\u2019s OCTG pipe processing facility and Mattr\u2019s pipe
\ncoating business unit acquisitions. For more information see note 34.
\nFor 2022, related to Parques E\u00f3licos de la Buena Ventura S.A. acquisition.
",
"dimensions": {
"concept": "xbrl:note",
"noteId": "footnote16",
"language": "en"
}
}
}
}