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DEFERRED INCOME TAX (Tables) | 12 Months Ended
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Dec. 31, 2018
Deferred income tax [Abstract] |
Schedule of changes in deferred income tax | Changes in deferred income tax are as follows:
| As of December 31,
| 2018 |  | 2017
At the beginning of the year | (392,265 | ) |  | (523,209 | )
Acquisition of business (Note 3) | — |  |  | 13,686 |
Translation differences | (7,201 | ) |  | (1,052 | )
Effect of changes in tax law (Note 11) | — |  |  | 7,455 |
Effect of initial inflation adjustment | (182,773 | ) |  | — |
Credits (Charges) directly to other comprehensive income | 9,547 |  |  | 4,808 |
Deferred tax (charge) credit (Note 11) | 232,485 |  |  | 106,047 |
At the end of the year | (340,207 | ) |  | (392,265 | )
Changes in deferred tax assets and liabilities | The changes in deferred tax assets and liabilities (prior to offsetting the balances within the same tax jurisdiction) during the year are as follows:
Deferred tax liabilities |  | PP&E |  | Inventories |  | Intangible assets |  | Other |  | Total at December 31, 2018
At the beginning of the year |  | (539,839 | ) |  | (57,006 | ) |  | (18,692 | ) |  | (2,056 | ) |  | (617,593 | )
Translation differences |  | 9,726 |  |  | 527 |  |  | 497 |  |  | (688 | ) |  | 10,062 |
Effect of initial inflation adjustment |  | (161,044 | ) |  | (20,967 | ) |  | (762 | ) |  | — |  |  | (182,773 | )
Income statement credit (charge) |  | 168,702 |  |  | 36,130 |  |  | 3,031 |  |  | 1,656 |  |  | 209,519 |
At the end of the year |  | (522,455 | ) |  | (41,316 | ) |  | (15,926 | ) |  | (1,088 | ) |  | (580,785 | )
Deferred tax assets |  | Provisions |  | Trade receivables |  | Tax losses (1) |  | Other |  | Total at December 31, 2018
At the beginning of the year |  | 61,101 |  |  | 8,200 |  |  | 43,355 |  |  | 112,672 |  |  | 225,328 |
Translation differences |  | (6,036 | ) |  | (1,089 | ) |  | — |  |  | (10,137 | ) |  | (17,263 | )
Credits (Charges) directly to other comprehensive income |  | — |  |  | — |  |  | — |  |  | 9,547 |  |  | 9,547 |
Effect of changes in tax law |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Income statement credit (charge) |  | 17,882 |  |  | 4,154 |  |  | (9,973 | ) |  | 10,903 |  |  | 22,966 |
At the end of the year |  | 72,947 |  |  | 11,265 |  |  | 33,382 |  |  | 122,984 |  |  | 240,578 |
(1) As of December 31, 2018, the recognized deferred tax assets on tax losses amount to $33,383 and there are net unrecognized deferred tax assets of $0.7 billion and unrecognized tax losses amounting to $1.2 billion. These two last effects are connected to the acquisition of Ternium Brasil (see Note 3).
Deferred tax liabilities |  | PP&E |  | Inventories |  | Intangible assets |  | Other |  | Total at December 31, 2017
At the beginning of the year |  | (625,963 | ) |  | (48,637 | ) |  | (28,050 | ) |  | (3,050 | ) |  | (705,700 | )
Translation differences |  | 6,907 |  |  | (215 | ) |  | 67 |  |  | (29 | ) |  | 6,730 |
Charges directly to other comprehensive income |  | — |  |  | — |  |  | — |  |  | (108 | ) |  | (108 | )
Effect of changes in tax law |  | 17,293 |  |  | 185 |  |  | 352 |  |  | 11 |  |  | 17,841 |
Income statement credit (charge) |  | 61,924 |  |  | (8,339 | ) |  | 8,939 |  |  | 1,120 |  |  | 63,644 |
At the end of the year |  | (539,839 | ) |  | (57,006 | ) |  | (18,692 | ) |  | (2,056 | ) |  | (617,593 | )
Deferred tax assets |  | Provisions |  | Trade receivables |  | Tax losses (2) |  | Other |  | Total at December 31, 2017
At the beginning of the year |  | 53,188 |  |  | 7,488 |  |  | 56,297 |  |  | 65,518 |  |  | 182,491 |
Translation differences |  | (501 | ) |  | (273 | ) |  | — |  |  | (7,008 | ) |  | (7,782 | )
Acquisition of business (Note 3) |  | — |  |  | — |  |  | — |  |  | 13,686 |  |  | 13,686 |
Charges directly to other comprehensive income |  | — |  |  | — |  |  | — |  |  | 4,916 |  |  | 4,916 |
Effect of changes in tax law |  | (2,692 | ) |  | (238 | ) |  | — |  |  | (7,456 | ) |  | (10,386 | )
Income statement credit (charge) |  | 11,106 |  |  | 1,223 |  |  | (12,942 | ) |  | 43,016 |  |  | 42,403 |
At the end of the year |  | 61,101 |  |  | 8,200 |  |  | 43,355 |  |  | 112,672 |  |  | 225,328 |
(2) As of December 31, 2017, the recognized deferred tax assets on tax losses amount to $43,355 and there are no net unrecognized deferred tax assets of $0.9 billion and unrecognized tax losses amounting to $1.5 billion. These two last effects are connected to the acquisition of Ternium Brasil (see note 3).
Schedule of deferred tax assets and liabilities | The amounts shown in the statement of financial position (prior to offsetting the balances within the same tax jurisdiction) include the following:
| As of December 31,
| 2018 |  | 2017
Deferred tax assets to be recovered after more than 12 months | 153,681 |  |  | 155,350 |
Deferred tax assets to be recovered within 12 months | 86,897 |  |  | 69,978 |
Deferred tax liabilities to be settled after more than 12 months | (538,854 | ) |  | (558,890 | )
Deferred tax liabilities to be settled within 12 months | (41,931 | ) |  | (58,703 | )
| (340,207 | ) |  | (392,265 | )

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