XML 89 R62.htm IDEA: XBRL DOCUMENT v3.25.1
DEFERRED INCOME TAX (Tables)
 12 Months Ended
Dec. 31, 2024
Deferred income tax [Abstract]  
Schedule of Changes in Deferred Income Tax
Changes in deferred income tax are as follows:
As of December 31,
20242023
At the beginning of the year1,542,565 37,495 
Acquisition of business (note 3)— 1,327,232 
Translation differences(263,349)(4,373)
Recognition of previously unrecognized tax losses25,438 128,634 
Charges directly to other comprehensive income57,867 (48,854)
Deferred tax credit (note 11)(256,830)102,431 
At the end of the year1,105,691 1,542,565 
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 yearTranslation differencesCredits (Charges) directly to OCIRecognition of previously unrecognized tax lossesIncome statement credit (charge)Total as of
December 31, 2024
Property, plant and equipment323,538 (81,642)— — (111,558)130,338 
Inventories17,831 (15,440)— — (40,304)(37,913)
Intangible assets134,328 (34,905)— — 52,978 152,401 
Provisions354,097 (48,805)— — (38,024)267,268 
Trade receivables42,674 (5,608)— — 4,242 41,308 
Tax losses (1)382,971 (65,362)— 25,438 (28,987)314,060 
Other (2)287,126 (11,587)57,867 — (95,177)238,229 
At the end of the year1,542,565 (263,349)57,867 25,438 (256,830)1,105,691 
(1) As of December 31, 2024, the recognized deferred tax assets on tax losses amount to $314.1 million, mainly connected to Ternium Brasil Ltda. and Usinas Siderúrgicas de Minas Gerais S.A. Additionally, there are net unrecognized deferred tax assets of $8.0 million, connected to Usinas Siderúrgicas de Minas Gerais S.A., and unrecognized tax losses amounting to $287.6 million from Usinas Siderúrgicas de Minas Gerais S.A. and $688.4 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, 2023 amounted to $2.2 billion and the estimated tax loss for the fiscal year 2024 amounted to $26.7 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, 2023 amounted to $2.6 billion and the estimated tax result for fiscal year 2024 amounted to $7.8 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 yearTranslation differencesAcquisition of businessCredits (Charges) directly to OCIRecognition of previously unrecognized tax lossesIncome 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 
Provisions98,999 (698)255,529 — — 267 354,097 
Trade receivables15,515 — 28,510 — — (1,351)42,674 
Tax losses (3)17,400 4,901 304,237 — — 56,433 382,971 
Other (4)198,654 (4,630)67,313 (48,854)128,634 (53,991)287,126 
At the end of the year37,495 (4,373)1,327,232 (48,854)128,634 102,431 1,542,565 
(3) 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.
(4) It corresponds mainly to the deferred tax assets related to post-employment benefits and asset retirement obligations.