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BASIS OF PRESENTATION | 12 Months Ended
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Dec. 31, 2021
Disclosure of notes and other explanatory information [Abstract] |
BASIS OF PRESENTATION | BASIS OF PRESENTATION a) Basis of presentation These consolidated financial statements have been prepared in accordance with IFRS (International Financial Reporting Standards) issued and effective or issued and early adopted as at the time of preparing these statements (February 2022), as issued by the International Accounting Standards Board and in conformity with International Financial Reporting Standards as adopted by the European Union (“EU”). These consolidated financial statements are presented in thousands of United States dollars (“$”), except otherwise indicated. These Consolidated financial statements fairly present the consolidated equity and consolidated financial situation of Ternium as of December 31, 2021 and 2020, and the consolidated results of its operations, the Changes in the Consolidated Statement of Comprehensive Income, the Changes in Consolidated Net Equity and the Consolidated Cash Flows of Ternium for the years ended December 31, 2021, 2020 and 2019. Elimination of all material intercompany transactions and balances between the Company and their respective subsidiaries has been made in consolidation. These consolidated financial statements have been prepared under the historical cost convention and certain financial assets and financial liabilities (including derivative instruments) are at fair value through profit or loss. These consolidated financial statements have been approved for issue by the Board of Directors on February 15, 2022. The Directors have the power to amend and reissue the consolidated financial statements. Detailed below are the companies whose financial statements have been consolidated and accounted for interest in these consolidated financial statements. 2. BASIS OF PRESENTATION (continued)
Company |  | Country of Organization |  | Main activity |  | Percentage of ownership at December 31,
|  |  |  |  |  | 2021 |  | 2020 |  | 2019
Ternium S.A. |  | Luxembourg |  | Holding |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Ternium Investments S.à.r.l. |  | Luxembourg |  | Holding |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Ternium Internacional España S.L. (1) |  | Spain |  | Holding and marketing of steel products |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Ternium Solutions S.A. (1) |  | Uruguay |  | Other services |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Ternium Internationaal B.V. (1) |  | Netherlands |  | Marketing of steel products |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Ternium USA Inc. (2) |  | USA |  | Manufacturing and selling of steel products |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Ternium Argentina S.A. (3) |  | Argentina |  | Manufacturing and selling of flat steel products |  | 62.49 | % |  | 62.46 | % |  | 61.50 | %
Impeco S.A. (4) |  | Argentina |  | Manufacturing of pipe products |  | 62.49 | % |  | 62.49 | % |  | 61.54 | %
Prosid Investments S.A. (5) |  | Uruguay |  | Holding |  | 62.49 | % |  | 62.46 | % |  | 61.51 | %
Ternium Mexico S.A. de C.V. (6) |  | Mexico |  | Manufacturing and selling of steel products |  | 89.22 | % |  | 89.21 | % |  | 88.94 | %
Las Encinas S.A. de C.V. (7) |  | Mexico |  | Exploration, exploitation and pelletizing of iron ore |  | 89.22 | % |  | 89.21 | % |  | 88.94 | %
Ferropak Comercial S.A. de C.V. (7) |  | Mexico |  | Scrap services company |  | 89.22 | % |  | 89.21 | % |  | 88.94 | %
Transamerica E. & I. Trading Corp. (7) |  | USA |  | Scrap services company |  | 89.22 | % |  | 89.21 | % |  | 88.94 | %
Galvacer Chile S.A. (7) |  | Chile |  | Distributing company |  | 89.22 | % |  | 89.21 | % |  | 88.94 | %
Ternium Gas México S.A. de C.V. (8) |  | Mexico |  | Energy services company |  | 89.22 | % |  | 89.21 | % |  | 88.94 | %
Consorcio Minero Benito Juarez Peña Colorada S.A.de C.V. (9) |  | Mexico |  | Exploration, exploitation and pelletizing of iron ore |  | 44.61 | % |  | 44.61 | % |  | 44.47 | %
Exiros B.V. (9) |  | Netherlands |  | Procurement and trading services |  | 50.00 | % |  | 50.00 | % |  | 50.00 | %
Servicios Integrales Nova de Monterrey S.A. de C.V. (10) |  | Mexico |  | Medical and Social Services |  | 66.47 | % |  | 66.47 | % |  | 66.26 | %
Ternium Internacional Nicaragua S.A. |  | Nicaragua |  | Manufacturing and selling of steel products |  | 99.38 | % |  | 99.38 | % |  | 99.38 | %
Ternium Internacional Honduras S.A. de C.V. |  | Honduras |  | Manufacturing and selling of steel products |  | 99.18 | % |  | 99.18 | % |  | 99.18 | %
Ternium Internacional El Salvador S.A. de C.V. |  | El Salvador |  | Manufacturing and selling of steel products |  | 99.92 | % |  | 99.92 | % |  | 99.92 | %
Ternium Internacional Costa Rica S.A. |  | Costa Rica |  | Manufacturing and selling of steel products |  | 99.98 | % |  | 99.98 | % |  | 99.98 | %
Ternium Internacional Guatemala S.A. (11) |  | Guatemala |  | Manufacturing and selling of steel products |  | 99.98 | % |  | 99.98 | % |  | 99.98 | %
Ternium Colombia S.A.S. (12) |  | Colombia |  | Manufacturing and selling of steel products |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Ternium del Cauca S.A.S. (12) |  | Colombia |  | Manufacturing and selling of steel products |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Ternium Siderúrgica de Caldas S.A.S. (12) |  | Colombia |  | Manufacturing and selling of steel products |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Ternium del Atlántico S.A.S (12) |  | Colombia |  | Manufacturing and selling of steel products |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Ternium Procurement S.A. (12) |  | Uruguay |  | Marketing of steel products and procurement services |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Technology & Engineering Services S.A. (12) |  | Uruguay |  | Engineering and other services |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Ternium Brasil Ltda. (13) |  | Brazil |  | Manufacturing and selling of steel products |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Tenigal S. de R.L. de C.V. (14) |  | Mexico |  | Manufacturing and selling of steel products |  | 51.00 | % |  | 51.00 | % |  | 51.00 | %
Soluciones Integrales de Gestión S.A. (15) |  | Argentina |  | Other services |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Ternium Participaçoes S.A. (15) |  | Brazil |  | Holding |  | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Hylsa S.A. de C.V. (16) |  | Mexico |  | Manufacturing and selling of steel products |  | — |  |  | 89.21 | % |  | 88.94 | %
Técnica Industrial S.A. de C.V. (16) |  | Mexico |  | Services |  | — |  |  | 89.21 | % |  | 88.94 | %
2. BASIS OF PRESENTATION (continued)
Company |  | Country of Organization |  | Main activity |  | Percentage of ownership at December 31,
|  |  | 2021 |  | 2020 |  | 2019
Peña Colorada Servicios S.A. de C.V. (17) |  | Mexico |  | Services |  | — |  |  | 44.61 | % |  | 44.47 | %
Ternium Treasury Services S.A. (18) |  | Uruguay |  | Financial Services |  | — |  |  | 100.00 | % |  | 100.00 | %
Ternium International Inc. (19) |  | Panama |  | Marketing of steel products |  | — |  |  | — |  |  | 100.00 | %
Ternium Investments Switzerland AG (20) |  | Switzerland |  | Holding |  | — |  |  | — |  |  | 100.00 | %
Ternium Internacional S.A. (21) |  | Uruguay |  | Marketing of steel products |  | — |  |  | — |  |  | 100.00 | %
Ternium Staal B.V. (22) |  | Netherlands |  | Holding and marketing of steel products |  | — |  |  | — |  |  | 100.00 | %
(1) Indirectly through Ternium Investments S.à.r.l. Total voting rights held: 100.00%. (2) Since the second quarter of 2021, indirectly through Ternium Internacional España S.L. Total voting rights held 100.00%. Before that, indirectly through Ternium Investments S.à.r.l. total voting rights were 100.00% in 2020. (3) Indirectly through Ternium Internacional España S.L. Total voting rights held 62.49%. (4) Indirectly through Ternium Argentina S.A. and Soluciones Integrales de Gestión S.A. Total voting rights held 100.00%. (5) Indirectly through Ternium Argentina S.A. and Ternium Procurement S.A. Total voting rights held 100.00%. (6) Indirectly through Ternium Argentina S.A. and Ternium Internacional España S.L. Total voting rights held 100.00%. (7) Indirectly through Ternium Mexico S.A. de C.V. Total voting rights held: 100.00%. (8) Indirectly through Ternium Mexico S.A. de C.V. and Tenigal S. de R.L. de C.V. Total voting rights held: 100.00%. (9) Total voting rights held: 50.00%. The Company recognizes the assets, liabilities, revenue and expenses in relation to its interest in the joint operation. (10) Indirectly through Ternium Mexico S.A. de C.V. Total voting rights held: 74.50%. (11) Indirectly through Ternium Internacional España S.L. and Ternium Mexico S.A. de C.V. Total voting rights held: 100.00%. (12) Indirectly through Ternium Internacional España S.L. Total voting rights held: 100.00%. (13) Since the second quarter of 2020, indirectly through Ternium Internacional España S.L. Total voting rights held: 100.00%. Before that, indirectly through Ternium Investments S.à r.l.. (14) Indirectly through Ternium Internacional España S.L. Total voting rights held: 51.00%. (15) Indirectly through Ternium Investments S.à r.l. and Ternium Internacional España S.L. Total voting rights held 100.00%. (16) This company was merged into Ternium Mexico S.A. de C.V. as of August 9, 2021. (17) This company was merged into Consorcio Minero Benito Juarez Peña Colorada S.A.de C.V. as of July 6, 2021. (18) This company was dissolved as of April 12, 2021. (19) This company was dissolved as of December 7, 2020. (20) This company was dissolved as of December 4, 2020. (21) This company was dissolved as of July 14, 2020. (22) This company was merged into Ternium Internacional España S.L. as of May 27, 2020, effective as of January 1, 2020. The most important non-controlling interest is related to the investment in Ternium Argentina S.A., which is a company listed in the Buenos Aires Stock Exchange (see note 30). All the information related to this investment could be found in the Buenos Aires Stock Exchange webpage.

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