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FINANCIAL RISK MANAGEMENT (Tables)

12 Months Ended

Dec. 31, 2020

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, 2020.

Exposure to functional currency												$ million
									EU euro (EUR)												(98)
Argentine peso (ARS)												101
Mexican peso (MXN)												(591)
Brazilian real (BRL)												111
Colombian peso (COP)												(21)
Other currencies												(2)

Disclosure of credit risk exposure

The investments in financial assets are as follows:

						At December 31, 2020						At December 31, 2019
Cash and cash equivalents						537,882						519,965
Other Investments - Current and Non-Current						816,157						215,273
Fixed Income (time-deposit, zero-coupon bonds, commercial papers)						579,917						176,470
Deposit certificates						451,857						160,933
Commercial papers						128,060						15,537
Bonds and other fixed income						233,611						38,803
Non - U.S. government securities						135,671						914
Corporate securities						97,940						37,889
Other notes						2,629						—

The carrying amounts of the Company’s trade and other receivables as of December 31, 2020, are denominated in the following currencies:

Currency												$ million
US dollar ($)												798
EU euro (EUR)												14
Argentine peso (ARS)												12
Mexican peso (MXN)												160
Brazilian real (BRL)												397
Colombian peso (COP)												68
Other currencies												1
												1,450

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												2021						2022						2023						2024						Thereafter
Borrowings												396						660						137						521						9
Interests to be accrued (1)												26						17						9						4						—
Trade payables and other liabilities												1,024						13						8						7						38
Lease liabilities												42						42						42						28						140
Total												1,488						732						196						560						187

(1) These amounts do not include the effect of derivative financial instruments.

Disclosure of financial assets

As of December 31, 2020 (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						153,527						—						—						153,527
Derivative financial instruments						—						1,572						—						1,572
Trade receivables						918,438						—						—						918,438
Other investments						579,917						2,629						233,611						816,157
Cash and cash equivalents						278,862						259,020						—						537,882
Total						1,930,744						263,221						233,611						2,427,576

As of December 31, 2019 (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						406,370						—						—						406,370
Derivative financial instruments						—						1,196						—						1,196
Trade receivables						950,569						—						—						950,569
Other investments						176,470						—						38,803						215,273
Cash and cash equivalents						320,088						199,877						—						519,965
Total						1,853,497						201,073						38,803						2,093,373

Disclosure of financial liabilities

As of December 31, 2020 (in $ thousands)						Liabilities at fair value through profit or loss						Amortized cost												Total
(ii) Liabilities as per statement of financial position
Other liabilities						—						86,070												86,070
Trade payables						—						1,004,216												1,004,216
Derivative financial instruments						6,358						—												6,358
Finance lease liabilities						—						294,103												294,103
Borrowings						—						1,722,893												1,722,893
Total						6,358						3,107,282												3,113,640

As of December 31, 2019 (in $ thousands)						Liabilities at fair value through profit or loss						Amortized cost												Total
(ii) Liabilities as per statement of financial position
Other liabilities						—						88,403												88,403
Trade payables						—						836,204												836,204
Derivative financial instruments						3,024						—												3,024
Finance lease liabilities						—						338,765												338,765
Borrowings						—						2,188,674												2,188,674
Total						3,024						3,452,046												3,455,070

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, 2020 and 2019:

						Fair value measurement as of December 31, 2020 (in $ thousands):
Description						Total						Level 1						Level 2						Level 3 (*)
Financial assets at fair value through profit or loss / OCI
Cash and cash equivalents						259,020						259,020						—						—
Other investments						236,240						233,611						—						2,629
Derivative financial instruments						1,572						—						1,572						—
Total assets						496,832						492,631						1,572						2,629
Financial liabilities at fair value through profit or loss / OCI
Derivative financial instruments						6,358						—						6,358						—
Total liabilities						6,358						—						6,358						—

						Fair value measurement as of December 31, 2019 (in $ thousands):
Description						Total						Level 1						Level 2						Level 3
Financial assets at fair value through profit or loss / OCI
Cash and cash equivalents						199,877						199,877						—						—
Other investments						38,803						38,803						—						—
Derivative financial instruments						1,196						—						1,196						—
Total assets						239,876						238,680						1,196						—
Financial liabilities at fair value through profit or loss / OCI
Derivative financial instruments						3,024						—						3,024						—
Total liabilities						3,024						—						3,024						—

(*) The fair value of financial instruments classified as level 3 is not obtained from observable market information, but from measurements of the asset portfolio at market value provided by the fund manager. The evolution of such instruments during the year ended December 31, 2020, corresponds to the initial investment and to the changes in its fair value.

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The disclosure of how the entity manages its liquidity risk. [Refer: Liquidity risk [member]]

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