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DEFERRED INCOME TAX (Tables) | 12 Months Ended
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Dec. 31, 2023
Deferred income tax [Abstract] |
Schedule of Changes in Deferred Income Tax | Changes in deferred income tax are as follows:
|  | As of December 31,
|  | 2023 |  | 2022
At the beginning of the year |  | 37,495 |  |  | (25,471) |
Acquisition of business (note 3) |  | 1,327,232 |  |  | — |
Translation differences |  | (4,373) |  |  | 330 |
Recognition of previously unrecognized tax losses |  | 128,634 |  |  | — |
Charges directly to other comprehensive income |  | (48,854) |  |  | (18,056) |
Deferred tax credit (note 11) |  | 102,431 |  |  | 80,692 |
At the end of the year |  | 1,542,565 |  |  | 37,495 |
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 assets (liabilities) |  | At the beginning of the year |  | Translation differences |  | Acquisition of business |  | Credits (Charges) directly to OCI |  | Recognition of previously unrecognized tax losses |  | Income statement credit (charge) |  | Total as of December 31, 2023
Property, plant and equipment |  | (200,556) |  |  | (2,360) |  |  | 412,320 |  |  | — |  |  | — |  |  | 114,134 |  |  | 323,538 |
Inventories |  | (69,594) |  |  | (903) |  |  | 116,290 |  |  | — |  |  | — |  |  | (27,962) |  |  | 17,831 |
Intangible assets |  | (22,923) |  |  | (683) |  |  | 143,033 |  |  | — |  |  | — |  |  | 14,901 |  |  | 134,328 |
Provisions |  | 98,999 |  |  | (698) |  |  | 255,529 |  |  | — |  |  | — |  |  | 267 |  |  | 354,097 |
Trade receivables |  | 15,515 |  |  | — |  |  | 28,510 |  |  | — |  |  | — |  |  | (1,351) |  |  | 42,674 |
Tax losses (1) |  | 17,400 |  |  | 4,901 |  |  | 304,237 |  |  | — |  |  | — |  |  | 56,433 |  |  | 382,971 |
Other (2) |  | 198,654 |  |  | (4,630) |  |  | 67,313 |  |  | (48,854) |  |  | 128,634 |  |  | (53,991) |  |  | 287,126 |
At the end of the year |  | 37,495 |  |  | (4,373) |  |  | 1,327,232 |  |  | (48,854) |  |  | 128,634 |  |  | 102,431 |  |  | 1,542,565 |
(1) As of December 31, 2023, the recognized deferred tax assets on tax losses amount to $383.0 million mainly connected to Ternium Brasil Ltda. and Usinas Siderúrgicas de Minas Gerais S.A. Additionally, there are net unrecognized deferred tax assets of $14.2 million, connected to Usinas Siderúrgicas de Minas Gerais S.A., and unrecognized tax losses amounting to $357.4 million from Usinas Siderúrgicas de Minas Gerais S.A. and $889.4 million from Ternium Brasil Ltda. Under the Luxembourg tax law, tax losses generated before 2017 can be carried forward indefinitely and are not subject to any yearly consumption limitation, while losses incurred as from 2017 may be carried forward for a maximum of 17 years. Unrecognized tax losses of Ternium SA as of December 31, 2022 amounted to $2.1 billion and the estimated tax loss for the fiscal year 2023 amounted to $30.1 million, with approximately 92% of the referred tax losses generated before 2017. Unrecognized tax losses of Ternium Investments S.à r.l. as of December 31, 2022 amounted to $2.6 billion and the estimated tax result for fiscal year 2023 amounted to $0.9 million, with approximately 98% of the referred tax losses generated before 2017. (2) It corresponds mainly to the deferred tax assets related to post-employment benefits and asset retirement obligations.
Deferred tax assets (liabilities) |  | At the beginning of the year |  | Translation differences |  | Acquisition of business |  | Credits (Charges) directly to OCI |  | Recognition of previously unrecognized tax losses |  | Income statement credit (charge) |  | Total as of December 31, 2022
Property, plant and equipment |  | (353,420) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 152,864 |  |  | (200,556) |
Inventories |  | 49,437 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (119,031) |  |  | (69,594) |
Intangible assets |  | (26,323) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,400 |  |  | (22,923) |
Provisions |  | 82,139 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 16,860 |  |  | 98,999 |
Trade receivables |  | 35,144 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (19,629) |  |  | 15,515 |
Tax losses (1) |  | 3,578 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 13,822 |  |  | 17,400 |
Other (2) |  | 183,975 |  |  | 330 |  |  | — |  |  | (18,056) |  |  | — |  |  | 32,406 |  |  | 198,654 |
At the end of the year |  | (25,471) |  |  | 330 |  |  | — |  |  | (18,056) |  |  | — |  |  | 80,692 |  |  | 37,495 |
(3) As of December 31, 2022, the recognized deferred tax assets on tax losses amount to $17.4 million and there are net unrecognized deferred tax assets of $202.0 million and unrecognized tax losses amounting to $879.0 million. These two last effects are connected to the acquisition of Ternium Brasil Ltda. (4) It corresponds mainly to the deferred tax assets related to post-employment benefits and asset retirement obligations.

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