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SEGMENT INFORMATION | 12 Months Ended
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Dec. 31, 2022
Disclosure of entity's operating segments [Abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION The Company is organized in two operating segments: Steel and Mining. The Steel segment includes the sales of steel products, which comprises mainly slabs, hot and cold rolled products, coated products, roll-formed and tubular products, billets, bars and other products. The Mining segment includes the sales of mining products, mainly iron ore and pellets, and comprises the mining activities of Las Encinas, an iron ore mining company in which Ternium holds a 100% equity interest and the 50% of the operations and results performed by Peña Colorada, another iron ore mining company in which Ternium maintains that same percentage over its equity interest. Ternium’s Chief Executive Officer (“CEO”) functions as the Company’s Chief Operating Decision Maker (“CODM”). The various geographic regions operate as an integrated steel producer. The CEO allocates resources and assesses performance of the Steel Segment as an integrated business and of the Mining Segment. The CEO uses “Operating income – Management view” as per the below table as the performance measure which differs from operating income determined in accordance with IFRS principally as follows: •The use of direct cost methodology to calculate the inventories, while under IFRS is at full cost, including absorption of production overheads and depreciation. •The use of costs based on previously internally defined cost estimates, while, under IFRS, costs are calculated at historical cost (with the FIFO method). •Other non-significant differences.
|  | Year ended December 31, 2022
|  | Steel |  | Mining |  | Inter-segment eliminations |  | Total
Operating income - Management view |  | 2,556,949 |  |  | 3,716 |  |  | 10,500 |  |  | 2,571,165 |
Reconciliation: |  |  |  |  |  |  |  |
Differences in Cost of sales |  |  |  |  |  |  |  | 128,354 |
Operating income - Under IFRS |  |  |  |  |  |  |  | 2,699,519 |
Financial income (expense), net |  |  |  |  |  |  |  | (70,133) |
Equity in earnings (losses) of non-consolidated companies |  |  |  |  |  |  |  | 37,114 |
Income before income tax expense - IFRS |  |  |  |  |  |  |  | 2,666,500 |
Net sales from external customers |  | 16,414,334 |  |  | 132 |  |  | — |  |  | 16,414,466 |
Net sales from transactions with other operating segments of the same entity |  |  |  | 410,636 |  |  | (410,636) |  |  | — |
Depreciation and amortization |  | (523,818) |  |  | (92,674) |  |  | — |  |  | (616,492) |
|  | Year ended December 31, 2021
|  | Steel |  | Mining |  | Inter-segment eliminations |  | Total
Operating income - Management view |  | 4,210,135 |  |  | 204,070 |  |  | 1,586 |  |  | 4,415,791 |
Reconciliation: |  |  |  |  |  |  |  |
Differences in Cost of sales |  |  |  |  |  |  |  | 855,345 |
Operating income - Under IFRS |  |  |  |  |  |  |  | 5,271,136 |
Financial income (expense), net |  |  |  |  |  |  |  | 92,462 |
Equity in earnings (losses) of non-consolidated companies |  |  |  |  |  |  |  | 400,732 |
Income before income tax expense - IFRS |  |  |  |  |  |  |  | 5,764,330 |
Net sales from external customers |  | 16,043,033 |  |  | 47,711 |  |  | — |  |  | 16,090,744 |
Net sales from transactions with other operating segments of the same entity |  |  |  | 478,559 |  |  | (478,559) |  |  | — |
Depreciation and amortization |  | (528,144) |  |  | (63,646) |  |  | — |  |  | (591,790) |
4. SEGMENT INFORMATION (continued)
|  | Year ended December 31, 2020
|  | Steel |  | Mining |  | Inter-segment eliminations |  | Total
Operating income - Management view |  | 1,046,623 |  |  | 101,937 |  |  | 689 |  |  | 1,149,249 |
Reconciliation: |  |  |  |  |  |  |  |
Differences in Cost of sales |  |  |  |  |  |  |  | (69,776) |
Operating income - Under IFRS |  |  |  |  |  |  |  | 1,079,473 |
Financial income (expense), net |  |  |  |  |  |  |  | 22,331 |
Equity in earnings (losses) of non-consolidated companies |  |  |  |  |  |  |  | 57,555 |
Income before income tax expense - IFRS |  |  |  |  |  |  |  | 1,159,359 |
Net sales from external customers |  | 8,679,513 |  |  | 55,922 |  |  | — |  |  | 8,735,435 |
Net sales from transactions with other operating segments of the same entity |  |  |  | 334,619 |  |  | (334,619) |  |  | — |
Depreciation and amortization |  | (580,807) |  |  | (50,244) |  |  | — |  |  | (631,051) |
Information on segment assets is not disclosed as it is not reviewed by the CEO. GEOGRAPHICAL INFORMATION The Company has no revenues attributable to the Company’s country of incorporation (Luxembourg) in 2022. In 2021 and 2020 the Company had revenues attributable to Luxembourg related to a contract acquired as part of the acquisition of the participation in Ternium Brasil Ltda. For purposes of reporting geographical information, net sales are allocated based on the customer’s location. Allocation of depreciation and amortization is based on the geographical location of the underlying assets.
|  | Year ended December 31, 2022
|  | Mexico |  | Southern region |  | Brazil and Other markets (1) |  | Total
Net sales |  | 8,949,104 |  |  | 3,853,390 |  |  | 3,611,972 |  |  | 16,414,466 |
Non-current assets (2) |  | 4,769,161 |  |  | 859,351 |  |  | 1,577,784 |  |  | 7,206,296 |
|  | Year ended December 31, 2021
|  | Mexico |  | Southern region |  | Brazil and Other markets |  | Total
Net sales |  | 8,990,868 |  |  | 3,377,596 |  |  | 3,722,280 |  |  | 16,090,744 |
Non-current assets (2) |  | 4,789,273 |  |  | 861,149 |  |  | 1,683,412 |  |  | 7,333,834 |
|  | Year ended December 31, 2020
|  | Mexico |  | Southern region |  | Brazil and Other markets |  | Total
Net sales |  | 4,660,278 |  |  | 1,762,785 |  |  | 2,312,372 |  |  | 8,735,435 |
Non-current assets (2) |  | 4,726,342 |  |  | 919,490 |  |  | 1,767,432 |  |  | 7,413,264 |
(1)The non-current assets value includes the impact of the impairment charge of $ 99.0 million recognized in the Brazil CGU. (2) Includes Property, plant and equipment and Intangible assets. 4. SEGMENT INFORMATION (continued) REVENUES BY PRODUCT
|  | Year ended December 31,
|  | 2022 |  | 2021 |  | 2020
Slabs |  | 640,231 |  |  | 1,304,437 |  |  | 1,047,311 |
Hot rolled (1) |  | 6,991,466 |  |  | 6,356,576 |  |  | 2,880,055 |
Cold rolled |  | 1,951,702 |  |  | 1,990,143 |  |  | 1,101,963 |
Coated (2) |  | 5,704,765 |  |  | 5,303,394 |  |  | 3,015,132 |
Roll-formed and tubular (3) |  | 660,829 |  |  | 659,609 |  |  | 413,337 |
Billets, round bars and others |  | 142,512 |  |  | 167,138 |  |  | 3,632 |
Other products (4) |  | 322,961 |  |  | 309,447 |  |  | 274,005 |
TOTAL SALES |  | 16,414,466 |  |  | 16,090,744 |  |  | 8,735,435 |
(1) Hot rolled includes hot rolled flat products, merchant bars, reinforcing bars, stirrups and rods. (2) Coated includes tin plate and galvanized products. (3) Roll-formed and tubular includes pre-engineered metal building systems, tubes, beams, insulated panels, roofing and cladding, roof tiles, and steel decks. (4) Other products include mainly sales of energy and pig iron.

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