XML 62 R50.htm IDEA: XBRL DOCUMENT
v3.19.2

Retrospective restatement of the 2016 and 2017 financial statements (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2018
Disclosure of Retrospective Restatement of Financial Statements [Abstract] |
Schedule of Interest to be Recognized through Restatement | The interest to be recognized through the restatement is as follows:
Company name | Balance as of December 31st, 2016 | 2016 Recognized Interest | 2017 Recognized Interest
Perfiles Comerciales Sigosa, S.A. de C.V. | $ 705,064 | $ 24,632 | $ 60,383
Proyectos Comerciales el Ninzi, S.A. de C.V. | 1,571,048 | 1,467 | 124,873
Industrias CH, S.A.B. de C.V. | 88,433 | 5,783 | 12,797
Total interest income |  | 31,882 | 198,053
Corresponding income tax |  | (10,353) | (24,949)
Additional profit recognized in the financial statements |  | $ 21,529 | $ 173,104
Earnings per share before correction |  | $ 5.93 | $ 3.49
Earnings per share after correction |  | $ 5.97 | $ 3.84
Schedule of Balances of Related Parties Corrected through Reclassification from Short-Term Assets to Long-Term Asset | The balances of related parties that were corrected through reclassification from the short-term assets to the long-term asset (after recording the interest described above) were:
| 2016 | 2017
Non current assets |  |
Accounts receivable: |  |
Industrias CH, S.A.B. de C.V. | 648,239 | 648,281
Total | 648,239 | 648,281
Long-term loans: |  |
Industrias CH, S.A.B. de C.V. | 88,433 | 530,281
Perfiles Comerciales Sigosa, S.A. de C.V. | 705,064 | 806,397
Proyectos Comerciales el Ninzi, S.A. de C.V. | 1,571,048 | 1,695,921
Total | 2,364,545 | 3,032,599
Current liabilities |  |
Accounts payable (Adjustment): |  |
Industrias CH, S.A.B. de C.V. | (204,917) | (205,902)
Perfiles Comerciales Sigosa, S.A. de C.V. | (2,122) | (2,096)
Tuberías Procarsa, S.A de C.V | (3,943) | (3,866)
Accounts payable other |  | (51)
Total | (210,982) | (211,915)
Loans (Adjustment): |  |
Industrias CH, S.A.B. de C.V. | (998) |
Tuberías Procarsa, S.A de C.V | 3,943 | 3,866
Pytsa Industrial, S.A. de C.V. | (437) | (50)
Total | 2,508 | 3,816
Transfer of current liabilities: |  |
Accounts receivable | (329,134) | (329,521)
Loans | (2,443,294) | (2,913,325)
Recorded interest | (31,882) | (229,935)
Schedule of Changes to Consolidated Balance Sheet | The changes to the financial statements resulting from such changes were as follows: Consolidated Balance Sheet
| 2016 | 2017
| Previously presented | Modified | Previously presented | Modified
Assets |  |  |  |
Current assets: |  |  |  |
Related parties receivables | 506,235 | 177,101 | 530,985 | 201,464
Loans to related parties | 2,443,294 |  | 2,913,325 |
Total current assets | 23,007,128 | 20,234,700 | 26,109,102 | 22,866,256
Non-current related parties receivables |  | 648,239 |  | 648,281
Non-current loans to related parties |  | 2,364,545 |  | 3,032,599
Total assets | 41,639,372 | 41,879,728 | 45,538,497 | 45,976,531
Liabilities and equity |  |  |  |
Current liabilities: |  |  |  |
Related parties payable | 7,867 | 218,849 | 39,761 | 251,676
Loans from related parties | 1,012,667 | 1,010,159 | 984,623 | 980,807
Income tax | 44,324 | 54,677 | 18,828 | 53,930
Total current liabilities | 5,518,990 | 5,737,817 | 7,236,668 | 7,480,069
Total liabilities | 8,429,228 | 8,648,055 | 11,415,594 | 11,658,995
Equity: |  |  |  |
Retained earnings | 19,053,138 | 19,074,667 | 20,774,810 | 20,969,443
Total controlling interest | 33,315,330 | 33,336,859 | 34,231,475 | 34,426,108
Total equity | 33,210,144 | 33,231,673 | 34,122,903 | 34,317,536
Total liabilities and equity | 41,639,372 | 41,879,728 | 45,538,497 | 45,976,531
Schedule of Changes to Consolidated Comprehensive Income Statement | Consolidated Comprehensive Income Statement
| 2016 | 2017
| Previously presented | Modified | Previously presented | Modified
Interest income | 108,151 | 140,033 | 54,238 | 252,291
Income before income taxes | 5,269,252 | 5,301,134 | 2,819,387 | 3,017,440
Income taxes | - 926,041 | - 936,394 | - 1,097,860 | - 1,122,809
Net profit for the year | 4,343,211 | 4,364,740 | 1,721,527 | 1,894,631
Comprehensive income for the year | 7,150,508 | 7,172,037 | 1,191,622 | 1,364,726
Net income attributable to: |  |  |  |
Controlling interest | 2,884,834 | 2,906,363 | 1,721,672 | 1,894,776
Net income for the year | 4,343,211 | 4,364,740 | 1,721,527 | 1,894,631
Comprehensive income attributable to: |  |  |  |
Controlling interest | 5,803,840 | 5,825,369 | 1,195,008 | 1,368,112
Comprehensive income net for the year | 7,150,508 | 7,172,037 | 1,191,622 | 1,364,726
Income per share (controling interest) |  |  |  |
(Mexican pesos) | $ 5.93 | $ 5.97 | $ 3.49 | $ 3.84
Schedule of Changes to Consolidated Statements of Cash Flows | Consolidated Statements of Cash Flows
| 2016 | 2017
| Previously presented | Modified | Previously presented | Modified
Net income of the year | 4,343,211 | 4,364,740 | 1,721,527 | 1,894,631
Adjustments: |  |  |  |
Interest income from investing activities | - 108,151 | - 140,033 | - 54,238 | - 252,291
Income tax | 926,041 | 936,394 | 1,097,860 | 1,122,809
(increase) Related parties receivable | - 55,863 | - 172,322 | - 453,754 | - 41,311
Net cash flows provided by operating activities | 5,822,213 | 5,705,754 | 2,771,912 | 3,184,355
Investing activities: |  |  |  |
loans granted to related parties |  | - 2,277,256 |  | - 412,443
Net cash flows (used) provided by investing activities | - 3,165,639 | - 5,442,895 | 2,705,919 | 3,118,362
Financing activities: |  |  |  |
Loans granted to related parties | - 2,393,715 |  |  |
Net cash flows (used) provided by financing activities | - 1,495,630 | 898,085 |  |
Schedule of Modifications for Errors in Register of Interests in Receivables, in Presentation and Reclassification of Accounts Receivable and Payable from Related parties | The modifications for errors in the register of interests in receivables, in the presentation and reclassification of accounts receivable and payable from related parties are presented below:
|  | ADJUSTMENTS |  | M O D I F I C A T I O N / P R E S E N T A T I O N |
| Balance with no modifications as of 31/12/2016 | 2016 Interests | Accounts payable Transaction | Adjustment | Long term accounts receivable taxes | Long term loans payable | Loans payable | Total adjustment | Balance as of 31/12/2016
Accounts receivable: |  |  |  |  |  |  |  |  |
Industrias CH, S.A.B. de C.V. | 475,395 | 5,783 | 204,917 | -38,854 | -648,239 |  | 998 | -475,395 | 0
Pytsa Industrial de México, S.A. de C.V. |  |  |  |  |  |  | 437 | 437 | 437
Other accounts receivable by operation | 30,840 |  |  |  |  |  |  |  | 30,840
| 506,235 |  |  |  |  |  |  |  |
Loans: |  |  |  |  |  |  |  |  |
Industrias CH, S.A.B. de C.V. | 49,579 |  |  | 38,854 |  | -88,433 |  | -49,579 | 0
Proyectos Comerciales el Ninzi, S.A. de C.V. | 1,715,405 | 1,467 |  |  |  | -1,571,048 |  | -1,569,581 | 145,824
Perfiles Comerciales Sigosa, S.A. de C.V. | 678,310 | 24,632 | 2,122 |  |  | -705,064 |  | -678,310 | 0
| 2,443,294 |  |  |  |  |  |  |  |
Total | 2,949,529 | 31,882 | 207,039 | 0 | -648,239 | -2,364,545 | 1,435 | -2,772,428 | 177,101
| Modified balance for presentation as of 31/12/2016 | 2017 Interest | Loan | Difference from changes | Transactions of the year | Adjusted balance 31/12/2017
Accounts receivable: |  |  |  |  |  |
Pytsa Industrial de México, S.A. de C.V. | 437 |  |  |  | -387 | 50
Proyectos Comerciales el Ninzi, S.A. de C.V. | 145,824 |  |  |  |  | 145,824
Other accounts receivable by operation | 30,840 |  |  |  | 24,750 | 55,590
| 177,101 | 0 | 0 | 0 | 24,363 | 201,464
Long term accounts receivable: |  |  |  |  |  |
Industrias CH, S.A.B. de C.V. | 648,239 |  |  |  | 42 | 648,281
| 648,239 |  |  |  | 42 | 648,281
Long term loans payable: |  |  |  |  |  |
Industrias CH, S.A.B. de C.V. | 88,433 | 12,797 | 412,443 | 16,608 |  | 530,281
Perfiles Comerciales Sigosa, S.A. de C.V. | 705,064 | 60,383 |  | 40,950 |  | 806,397
Proyectos Comerciales el Ninzi, S.A. de C.V. | 1,571,048 | 124,873 |  |  |  | 1,695,921
Total | 2,364,545 | 198,053 | 412,443 | 57,558 | 0 | 3,032,599
| Adjusted balance 31/12/2017 | Interest | VAT on invoiced interest | Loans | Difference from changes | Payments | Transactions of the year | Adjusted balance 31/12/2018
Accounts receivable: |  |  |  |  |  |  |  |
Pytsa Industrial de México, S.A. de C.V. | 50 |  |  |  |  |  | -50 |
Proyectos Comerciales el Ninzi, S.A. de C.V. | 145,824 |  |  |  |  | -145,824 |  |
Other accounts receivable by operation | 55,590 |  |  |  |  |  | -39,859 | 15,731
| 201,464 |  |  |  |  | -145,824 | -39,909 | 15,731
Short term loans: |  |  |  |  |  |  |  |
Compañía Laminadora Vista Hermosa, S.A. de C.V. |  | 915 |  | 182,256 |  |  |  | 183,171
Compañía Manufacturera de Tubos, S.A. de C.V. |  | 1,039 |  | 43,433 |  |  |  | 44,472
Operadora Compañia Mexicana de Tubos SA |  | 885 |  | 37,347 |  |  |  | 38,232
|  | 2,839 | 0 | 263,036 | 0 | 0 | 0 | 265,875
Long term accounts receivable: |  |  |  |  |  |  |  |
Industrias CH, S.A.B. de C.V. | 648,281 |  |  |  |  |  |  | 648,281
| 648,281 | 0 | 0 | 0 | 0 | 0 |  | 648,281
Long term loans payable: |  |  |  |  |  |  |  |
Industrias CH, S.A.B. de C.V. | 530,281 | 22,953 | 2,714 | 214,028 | 1,732 | -41,430 |  | 730,278
Perfiles Comerciales Sigosa, S.A. de C.V. | 806,397 | 65,664 |  |  | 3,945 | -296,959 |  | 579,047
Proyectos Comerciales el Ninzi, S.A. de C.V. | 1,695,921 | 136,022 |  |  |  | -1,455,153 |  | 376,790
Total | 3,032,599 | 224,639 | 2,714 | 214,028 | 5,677 | -1,793,542 | 0 | 1,686,115
| Balance with no modifications as of 31/12/2016 | Transfer of accounts receivable for presentation | Transfer of loans payable for presentation | Modified balances for presentation 31/12/216 |  |
Accounts payable: |  |  |  |  |  |
Industrias CH, S.A.B. de C.V. |  | 204,917 |  | 204,917 |  |
Tuberías Procarsa, S.A. de C.V. |  |  | 3,943 | 3,943 |  |
Perfiles Comerciales Sigosa, S.A. de C.V. |  | 2,122 |  | 2,122 |  |
Other accounts payable by operation | 7,867 |  |  | 7,867 |  |
Total | 7,867 | 207,039 | 3,943 | 218,849 |  |
Loans: |  |  |  |  |  |
Industrias CH, S.A.B. de C.V. | 221,628 | 998 |  | 222,626 |  |
Tuberías Procarsa, S.A. de C.V. | 622,061 |  | -3,943 | 618,118 |  |
Procarsa Tube and Pipe Co. | 62,303 |  |  | 62,303 |  |
Pytsa Industrial de México, S.A. de C.V. | 106,675 | 437 |  | 107,112 |  |
Total | 1,012,667 | 1,435 | -3,943 | 1,010,159 |  |
| Modified balances for presentation 31/12/216 | Transactions of the year | Interest | Difference in changes | Adjusted balance 31/12/2017 |
Accounts payable: |  |  |  |  |  |
Industrias CH, S.A.B. de C.V. | 204,917 | 985 |  |  | 205,902 |
Tuberías Procarsa, S.A. de C.V. | 3,943 | -77 |  |  | 3,866 |
Perfiles Comerciales Sigosa, S.A. de C.V. | 2,122 | -26 |  |  | 2,096 |
Other accounts payable by operation | 7,867 | 31,945 |  |  | 39,812 |
Total | 218,849 | 32,827 | 0 | 0 | 251,676 |
Loans: |  |  |  |  |  |
Industrias CH, S.A.B. de C.V. | 222,626 |  | 4,194 |  | 226,820 |
Tuberías Procarsa, S.A. de C.V. | 618,118 |  | 1,449 | -27,778 | 591,789 |
Procarsa Tube and Pipe Co. | 62,303 |  | 146 | -2,801 | 59,648 |
Pytsa Industrial de México, S.A. de C.V. | 107,112 |  | 251 | -4,813 | 102,550 |
Total | 1,010,159 | 0 | 6,040 | -35,392 | 980,807 |
| Adjusted balance 31/12/2017 | Transactions of the year | Interest | Difference from changes | Payment | Adjusted balance 31/12/2018
Accounts payable: |  |  |  |  |  |
Industrias CH, S.A.B. de C.V. | 205,902 | -23 |  |  |  | 205,879
Tuberías Procarsa, S.A. de C.V. | 3,866 | -1,924 |  |  |  | 1,942
Perfiles Comerciales Sigosa, S.A. de C.V. | 2,096 | -2,096 |  |  |  |
Other accounts payable by operation | 39,812 | 86,958 |  |  |  | 126,770
Total | 251,676 | 82,915 | 0 | 0 | 0 | 334,591
Loans: |  |  |  |  |  |
Industrias CH, S.A.B. de C.V. | 226,820 |  | 5,570 |  | -232,390 | 0
Tuberías Procarsa, S.A. de C.V. | 591,789 |  | 1,321 | -2,363 | -590,747 | 0
Procarsa Tube and Pipe Co. | 59,648 |  | 132 | -370 | -59,410 | 0
Pytsa Industrial de México, S.A. de C.V. | 102,550 |  |  | -2,029 | -100,521 | 0
Total | 980,807 | 0 | 7,023 | -4,762 | -983,068 | 0

X
- Definition The disclosure of detailed information about balances of related parties corrected through reclassification from short-term assets to long-term asset. + References No definition available. + Details
Name: | simecb_DisclosureOfDetailedInformationAboutBalancesOfRelatedPartiesCorrectedThroughReclassificationFromShorttermAssetsToLongtermAssetExplanatory
Namespace Prefix: | simecb_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of detailed information about changes to consolidated balance sheet. + References No definition available. + Details
Name: | simecb_DisclosureOfDetailedInformationAboutChangesToConsolidatedBalanceSheetExplanatory
Namespace Prefix: | simecb_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of detailed information about changes to consolidated comprehensive income statement. + References No definition available. + Details
Name: | simecb_DisclosureOfDetailedInformationAboutChangesToConsolidatedComprehensiveIncomeStatementExplanatory
Namespace Prefix: | simecb_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of detailed information about changes to consolidated statements of cash flows. + References No definition available. + Details
Name: | simecb_DisclosureOfDetailedInformationAboutChangesToConsolidatedStatementsOfCashFlowsExplanatory
Namespace Prefix: | simecb_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of detailed information about interest to be recognized through restatement. + References No definition available. + Details
Name: | simecb_DisclosureOfDetailedInformationAboutInterestToBeRecognizedThroughRestatementExplanatory
Namespace Prefix: | simecb_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of detailed information about modifications for errors in register of interests in receivables, in presentation and reclassification of accounts receivable and payable from related parties. + References No definition available. + Details
Name: | simecb_DisclosureOfDetailedInformationAboutModificationsForErrorsInRegisterOfInterestsInReceivablesInPresentationAndReclassificationOfAccountsReceivableAndPayableFromRelatedPartiesExplanatory
Namespace Prefix: | simecb_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | simecb_DisclosureOfRetrospectiveRestatementOfFinancialStatementsAbstract
Namespace Prefix: | simecb_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration