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FINANCIAL RISK MANAGEMENT (Tables)
 12 Months Ended
Dec. 31, 2023
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, 2023.
Exposure to
functional currency		$ millionBRL million
US dollar ($)— (469)
EU euro (EUR)97 — 
Argentine peso (ARS)(135)— 
Mexican peso (MXN)(313)— 
Brazilian real (BRL)59 — 
Colombian peso (COP)(20)— 
Yenes (JPY)115 — 
Other currencies(2)— 
Disclosure of Credit Risk Exposure Approximately 34.8% of the Company’s liquid financial assets correspond to investment grade rated instruments as of December 31, 2023, in comparison with approximately 59.9% as of December 31, 2022. The investments in financial assets are as follows:
As of December 31, 2023As of December 31, 2022
Cash and cash equivalents1,846,0131,653,355
Other Investments - Current and Non-Current2,186,4201,975,490
Fixed Income (time-deposit, zero-coupon bonds, commercial papers)1,025,207576,784
Deposit certificates and investment funds844,428204,802
Commercial papers129,798323,386
Other50,98148,596
Bonds and other fixed income1,160,2301,395,853
Non - U.S. government securities928,419651,633
U.S. government and corporate securities231,811744,220
Other notes9832,853
Disclosure of How the Entity Manages Liquidity Risk The amounts disclosed in the table are the contractual undiscounted cash flows.
$ million2024202520262027Thereafter
Borrowings940 9 744 94 359 
Interests to be accrued (1)189 164 134 96 153 
Trade payables and other liabilities2,253 46 18 17 65 
Lease liabilities52 47 33 31 78 
Total3,434 266 929 238 655 
(1) These amounts do not include the effect of derivative financial instruments.
Disclosure of Financial Assets
As of December 31, 2023 (in $ thousands)Amortized
cost		Assets at fair value through profit or lossAssets at fair value through OCITotal
(i) Assets as per statement of financial position
Receivables472,384 — — 472,384 
Derivative financial instruments— 15,406 — 15,406 
Trade receivables2,065,499 — — 2,065,499 
Other investments883,513 142,677 1,160,230 2,186,420 
Cash and cash equivalents1,367,235 478,778 — 1,846,013 
Total4,788,631 636,861 1,160,230 6,585,722 
As of December 31, 2022 (in $ thousands)Amortized
cost		Assets at fair value through profit or lossAssets at fair value through OCITotal
(i) Assets as per statement of financial position
Receivables197,686 — — 197,686 
Derivative financial instruments— 227 — 227 
Trade receivables1,180,689 — — 1,180,689 
Other investments483,209 96,428 1,395,853 1,975,490 
Cash and cash equivalents880,402 772,953 — 1,653,355 
Total2,741,986 869,608 1,395,853 5,007,447 
Disclosure of Financial Liabilities
As of December 31, 2023 (in $ thousands)Liabilities at fair value through profit or lossAmortized
cost		Total
(ii) Liabilities as per statement of financial position
Other liabilities— 487,792 487,792 
Trade payables— 2,159,647 2,159,647 
Derivative financial instruments8,220 — 8,220 
Finance lease liabilities— 241,087 241,087 
Borrowings— 2,146,414 2,146,414 
Total8,220 5,034,940 5,043,160 
As of December 31, 2022 (in $ thousands)Liabilities at fair value through profit or lossAmortized
cost		Total
(ii) Liabilities as per statement of financial position
Other liabilities— 64,968 64,968 
Trade payables— 1,102,264 1,102,264 
Derivative financial instruments505 — 505 
Finance lease liabilities— 239,149 239,149 
Borrowings— 1,031,865 1,031,865 
Total505 2,438,246 2,438,751 
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, 2023 and 2022:
Fair value measurement as of December 31, 2023
(in $ thousands):
DescriptionTotalLevel 1Level 2Level 3 (*)
Financial assets at fair value through profit or loss / OCI
Cash and cash equivalents478,778 478,778 — — 
Other investments1,302,907 1,086,319 197,743 18,845 
Derivative financial instruments15,406 — 15,406 — 
Total assets1,797,091 1,565,097 213,149 18,845 
Financial liabilities at fair value through profit or loss / OCI
Derivative financial instruments8,220 — 8,220 — 
Total liabilities8,220 — 8,220 — 
Fair value measurement as of December 31, 2022
(in $ thousands):
DescriptionTotalLevel 1Level 2Level 3 (*)
Financial assets at fair value through profit or loss / OCI
Cash and cash equivalents772,953 772,953 — — 
Other investments1,492,281 1,283,284 164,980 44,017 
Derivative financial instruments227 — 227 — 
Total assets2,265,461 2,056,237 165,207 44,017 
Financial liabilities at fair value through profit or loss / OCI
Derivative financial instruments505 — 505 — 
Total liabilities505 — 505 — 
(*) 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 years ended December 31, 2023 and 2022, corresponds to the initial investment and to the changes in its fair value, as follows:.
Guarantee fund companiesNon - U.S. government securities
As of December 31, 20222,854 41,163 
Disinvestment(2,169)(5,801)
Interest accrued— (4,137)
Changes in fair value2,441 (3,657)
Reclassifications— (9,706)
Net foreign exchange gain(2,143)— 
At December 31, 2023983 17,862 
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation The evolution of such instruments during the years ended December 31, 2023 and 2022, corresponds to the initial investment and to the changes in its fair value, as follows:.
Guarantee fund companiesNon - U.S. government securities
As of December 31, 20222,854 41,163 
Disinvestment(2,169)(5,801)
Interest accrued— (4,137)
Changes in fair value2,441 (3,657)
Reclassifications— (9,706)
Net foreign exchange gain(2,143)— 
At December 31, 2023983 17,862