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FINANCIAL RISK MANAGEMENT (Tables) | 12 Months Ended
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Dec. 31, 2018
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, 2018. These balances include intercompany positions where the intervening parties have different functional currencies.
|  | Functional currency
$ million Exposure to |  | $ |  | ARS
U.S. dollar ($) |  | — |  |  | (210 | )
EU euro (EUR) |  | 40 |  |  | 2 |
Argentine peso (ARS) |  | — |  |  | — |
Mexican peso (MXN) |  | (575 | ) |  | — |
Brazilian real (BRL) |  | (150 | ) |  | (4 | )
Colombian peso (COP) |  | 24 |  |  | — |
Other currencies |  | (3 | ) |  | — |
Disclosure of credit risk exposure | The carrying amounts of the Company’s trade and other receivables as of December 31, 2018, are denominated in the following currencies:
Currency |  | $ million
U.S. dollar ($) |  | 1,059 |
EU euro (EUR) |  | 60 |
Argentine peso (ARS) |  | 8 |
Mexican peso (MXN) |  | 171 |
Brazilian real (BRL) |  | 444 |
Colombian peso (COP) |  | 83 |
Other currencies |  | 1 |
|  | 1,828 |
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.
$ million | 2019 |  | 2020 |  | 2021 |  | 2022 |  | Thereafter
Borrowings | 400 |  |  | 528 |  |  | 509 |  |  | 510 |  |  | 90 |
Interests to be accrued (1) | 70 |  |  | 55 |  |  | 35 |  |  | 15 |  |  | 4 |
Trade payables and other liabilities | 907 |  |  | 14 |  |  | 13 |  |  | 14 |  |  | 22 |
Total | 1,377 |  |  | 597 |  |  | 557 |  |  | 539 |  |  | 116 |
(1) These amounts do not include the effect of derivative financial instruments.
Disclosure of financial assets |
As of December 31, 2018 (in $ thousands) |  | Amortized cost |  | Assets at fair value through profit or loss |  | Assets at fair value through OCI |  | Total
(i) Assets as per statement of financial position |  |  |  |  |  |  |  |
Receivables |  | 449,077 |  |  | — |  |  | — |  |  | 449,077 |
Derivative financial instruments |  | — |  |  | 1,588 |  |  | — |  |  | 1,588 |
Trade receivables |  | 1,133,236 |  |  | — |  |  | — |  |  | 1,133,236 |
Other investments |  | 14,843 |  |  | — |  |  | 36,630 |  |  | 51,473 |
Cash and cash equivalents |  | 110,086 |  |  | 140,455 |  |  | — |  |  | 250,541 |
Total |  | 1,707,242 |  |  | 142,043 |  |  | 36,630 |  |  | 1,885,915 |
As of December 31, 2017 (in $ thousands) |  | Loans and receivables |  | Assets at fair value through profit or 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 |
Disclosure of financial liabilities |
As of December 31, 2017 (in $ 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 |
As of December 31, 2018 (in $ thousands) |  | Liabilities at fair value through profit or loss |  | Amortized cost |  |  |  | Total
(ii) Liabilities as per statement of financial position |  |  |  |  |  |  |  |
Other liabilities |  | — |  |  | 105,659 |  |  |  |  | 105,659 |
Trade payables |  | — |  |  | 864,827 |  |  |  |  | 864,827 |
Derivative financial instruments |  | 12,981 |  |  | — |  |  |  |  | 12,981 |
Finance lease liabilities |  | — |  |  | 73,828 |  |  |  |  | 73,828 |
Borrowings |  | — |  |  | 2,036,957 |  |  |  |  | 2,036,957 |
Total |  | 12,981 |  |  | 3,081,271 |  |  |  |  | 3,094,252 |
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, 2018 and 2017:
|  | Fair value measurements as of December 31, 2018
|  | (in $ thousands):
Description |  | Total |  | Level 1 |  | Level 2
Financial assets at fair value through profit or loss / OCI |  |  |  |  |  |
Cash and cash equivalents |  | 140,455 |  |  | 140,455 |  |  | — |
Other investments |  | 36,630 |  |  | 36,630 |  |  | — |
Derivative financial instruments |  | 1,588 |  |  | — |  |  | 1,588 |
Total assets |  | 178,673 |  |  | 177,085 |  |  | 1,588 |
Financial liabilities at fair value through profit or loss / OCI |  |  |  |  |  |
Derivative financial instruments |  | 12,981 |  |  | — |  |  | 12,981 |
Total liabilities |  | 12,981 |  |  | — |  |  | 12,981 |
|  | Fair value measurements as of December 31, 2017
|  | (in $ 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 |

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