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FINANCIAL RISK MANAGEMENT (Tables) | 12 Months Ended
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Dec. 31, 2017
Disclosure of notes and other explanatory information [Abstract] |
Sensitivity analysis for types of market risk | The following table shows a breakdown of Ternium’s assessed financial position exposure to currency risk as of December 31, 2017. These balances include intercompany positions where the intervening parties have different functional currencies.
|  | Functional currency
USD million Exposure to |  | USD |  | ARS
US dollar (USD) |  | — |  |  | (102 | )
EU euro (EUR) |  | 14 |  |  | (5 | )
Argentine peso (ARS) |  | — |  |  | — |
Mexican peso (MXN) |  | (434 | ) |  | — |
Brazilian real (BRL) |  | (194 | ) |  | (3 | )
Colombian peso (COP) |  | 21 |  |  | — |
Other currencies |  | (2 | ) |  | — |
Disclosure of credit risk exposure | The carrying amounts of the Company’s trade and other receivables as of December 31, 2017, are denominated in the following currencies:
Currency |  | USD million
US dollar (USD) |  | 971 |
EU euro (EUR) |  | 27 |
Argentine peso (ARS) |  | 53 |
Mexican peso (MXN) |  | 163 |
Brazilian real (BRL) |  | 760 |
Colombian peso (COP) |  | 76 |
Other currencies |  | 1 |
|  | 2,051 |
Disclosure of how the entity manages liquidity risk | The table below analyses financial liabilities into relevant maturity groups based on the remaining period at the date of the statement of financial position to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows.
USD million | 2018 |  | 2019 |  | 2020 |  | 2021 |  | Thereafter
Borrowings | 1,506 |  |  | 423 |  |  | 430 |  |  | 411 |  |  | 452 |
Interests to be accrued (1) | 76 |  |  | 45 |  |  | 32 |  |  | 20 |  |  | 10 |
Trade payables and other liabilities | 909 |  |  | 22 |  |  | 15 |  |  | 14 |  |  | 16 |
Total | 2,491 |  |  | 490 |  |  | 477 |  |  | 445 |  |  | 478 |
(1) These amounts do not include the effect of derivative financial instruments.
Disclosure of financial assets |
As of December 31, 2017 (in USD thousands) |  | Loans and receivables |  | Assets at fair value through profit and loss |  | Held to maturity |  | Total
(i) Assets as per statement of financial position |  |  |  |  |  |  |  |
Receivables |  | 488,718 |  |  | — |  |  | — |  |  | 488,718 |
Derivative financial instruments |  | — |  |  | 2,304 |  |  | — |  |  | 2,304 |
Trade receivables |  | 1,011,430 |  |  | — |  |  | — |  |  | 1,011,430 |
Other investments |  | 30,231 |  |  | 99,505 |  |  | 6,129 |  |  | 135,865 |
Cash and cash equivalents |  | 101,444 |  |  | 236,335 |  |  | — |  |  | 337,779 |
Total |  | 1,631,823 |  |  | 338,144 |  |  | 6,129 |  |  | 1,976,096 |
As of December 31, 2016 (in thousands) |  | Loans and receivables |  | Assets at fair value through profit and loss |  | Held to maturity |  | Total
(i) Assets as per statement of financial position |  |  |  |  |  |  |  |
Receivables |  | 127,241 |  |  | — |  |  | — |  |  | 127,241 |
Derivative financial instruments |  | — |  |  | 316 |  |  | — |  |  | 316 |
Trade receivables |  | 635,015 |  |  | — |  |  | — |  |  | 635,015 |
Other investments |  | 52,995 |  |  | 83,117 |  |  | 14,739 |  |  | 150,851 |
Cash and cash equivalents |  | 83,437 |  |  | 100,026 |  |  | — |  |  | 183,463 |
Total |  | 898,688 |  |  | 183,459 |  |  | 14,739 |  |  | 1,096,886 |
Disclosure of financial liabilities |
As of December 31, 2016 (in thousands) |  | Derivatives |  | Other financial liabilities |  | Held to maturity |  | Total
(ii) Liabilities as per statement of financial position |  |  |  |  |  |  |  |
Other liabilities |  | — |  |  | 35,107 |  |  | — |  |  | 35,107 |
Trade payables |  | — |  |  | 580,941 |  |  | — |  |  | 580,941 |
Derivative financial instruments |  | 287 |  |  | — |  |  | — |  |  | 287 |
Borrowings |  | — |  |  | 1,218,635 |  |  | — |  |  | 1,218,635 |
Total |  | 287 |  |  | 1,834,683 |  |  | — |  |  | 1,834,970 |
As of December 31, 2017 (in USD thousands) |  | Derivatives |  | Other financial liabilities |  | Held to maturity |  | Total
(ii) Liabilities as per statement of financial position |  |  |  |  |  |  |  |
Other liabilities |  | — |  |  | 116,549 |  |  | — |  |  | 116,549 |
Trade payables |  | — |  |  | 860,767 |  |  | — |  |  | 860,767 |
Derivative financial instruments |  | 6,001 |  |  | — |  |  | — |  |  | 6,001 |
Finance lease liabilities |  | — |  |  | 77,035 |  |  | — |  |  | 77,035 |
Borrowings |  | — |  |  | 3,221,907 |  |  | — |  |  | 3,221,907 |
Total |  | 6,001 |  |  | 4,276,258 |  |  | — |  |  | 4,282,259 |
Disclosure of financial instruments at fair value through profit or loss | The following table presents the assets and liabilities that are measured at fair value as of December 31, 2017 and 2016:
|  | Fair value measurements as of December 31, 2017
|  | (in USD thousands):
Description |  | Total |  | Level 1 |  | Level 2
Financial assets at fair value through profit or loss |  |  |  |  |  |
Cash and cash equivalents |  | 236,335 |  |  | 236,335 |  |  | — |
Other investments |  | 99,505 |  |  | 99,505 |  |  | — |
Derivative financial instruments |  | 2,304 |  |  | — |  |  | 2,304 |
Total assets |  | 338,144 |  |  | 335,840 |  |  | 2,304 |
Financial liabilities at fair value through profit or loss |  |  |  |  |  |
Derivative financial instruments |  | 6,001 |  |  | — |  |  | 6,001 |
Total liabilities |  | 6,001 |  |  | — |  |  | 6,001 |
|  | Fair value measurements as of December 31, 2016
|  | (in USD thousands):
Description |  | Total |  | Level 1 |  | Level 2
Financial assets at fair value through profit or loss |  |  |  |  |  |
Cash and cash equivalents |  | 100,026 |  |  | 100,026 |  |  | — |
Other investments |  | 83,117 |  |  | 78,105 |  |  | 5,012 |
Derivative financial instruments |  | 316 |  |  | — |  |  | 316 |
Total assets |  | 183,459 |  |  | 178,131 |  |  | 5,328 |
Financial liabilities at fair value through profit or loss |  |  |  |  |  |
Derivative financial instruments |  | 287 |  |  | — |  |  | 287 |
Total liabilities |  | 287 |  |  | — |  |  | 287 |

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