XML 45 R33.htm IDEA: XBRL DOCUMENT v3.19.2

Basis of preparation and presentation of the financial statements (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of basis of preparation and presentation of the financial statements [Abstract]

Schedule of Subsidiaries

As of December 31, 2018, and 2017, the subsidiaries of Grupo Simec, S.A.B. de C.V. included in the consolidation are the following:

	Percentage of equity owned
Subsidiaries established in Mexico:	2 0 1 8		2 0 1 7
Compañia Siderurgica de Guadalajara, S.A. de C.V.	99.99%		99.99%
Arrendadora Simec, S.A. de C.V.	100.00%		100.00%
Simec International, S.A. de C.V.	100.00%		100.00%
Compañia Siderurgica del Pacifico, S.A. de C.V.	99.99%		99.99%
Coordinadora de Servicios Siderurgicos de Calidad, S.A. de C.V. (8)	100.00%		100.00%
Industrias del Acero y del Alambre, S.A. de C.V.	99.99%		99.99%
Procesadora Mexicali, S.A. de C.V.	99.99%		99.99%
Servicios Simec, S.A. de C.V.	100.00%		100.00%
Sistemas de Transporte de Baja California, S.A. de C.V.	100.00%		100.00%
Operadora de Servicios Siderurgicos de Tlaxcala, S.A. de C.V.	100.00%		100.00%
Operadora de Metales, S.A. de C.V.	100.00%		100.00%
Administradora de Servicios Siderurgicos de Tlaxcala, S.A. de C.V.	100.00%		100.00%
CSG Comercial, S.A. de C.V.	99.95%		99.95%
Operadora de Servicios de la Industria Siderurgica ICH, S.A. de C.V.	100.00%		100.00%
Corporacion Aceros DM, S.A. de C.V. and subsidiaries (1)	100.00%		100.00%
Acero Transportes San, S.A. de C.V. (1)	100.00%		100.00%
Simec Acero, S.A. de C.V. (8)	100.00%		100.00%
Corporacion ASL, S. A. de C.V.	99.99%		99.99%
Simec International 6, S.A. de C.V. (8)	100.00%		100.00%
Simec International 7, S.A. de C.V.	99.99%		99.99%
Simec International 9, S.A.P.I. de C.V.	100.00%		100.00%
Corporativos G&DL, S.A. de C.V. (8)	100.00%		100.00%
Orge, S.A. de C.V.	99.99%		99.99%
Siderurgica del Occidente y Pacifico, S.A. de C.V.	100.00%		100.00%
RRLC, S.A.P.I. de C.V.	95.10%		95.10%
Grupo Chant, S.A.P.I. de C.V.	97.61%		97.61%
Aceros Especiales Simec Tlaxcala, S.A. de C.V.	100.00%		100.00%
Recursos Humanos de la Industria Siderurgica de Tlaxcala, S.A. de C.V.	100.00%		100.00%
GSIM de Occidente S.A. de C.V. (9)	100.00%		100.00%
Fundiciones de Acero Estructural, S.A. de C.V.	100.00%		100.00%
Siderúrgicos Noroeste, S.A. de C.V. (10)	100.00%		100.00%
Subsidiaries established in foreign countries:
SimRep Corporation and Subsidiaries (3) (4) (5) (8)	50.22%		50.22%
Pacific Steel, Inc. (4)	100.00%		100.00%
Pacific Steel Projects, Inc. (4)	100.00%		100.00%
Simec Steel, Inc. (4)	100.00%		100.00%
Simec USA, Corp. (4)	100.00%		100.00%
Undershaft Investments, NV. (6)	100.00%		100.00%
GV do Brasil Industria e Comercio de Aço LTDA (7)	100.00%		100.00%
Companhia Siderurgica do Espiritu Santo S.A. (11)	100.00%
GS Steel B.V. (2)	100.00%		100.00%

(1) Companies located in San Luis Potosi. For purposes of this report constitute the “Grupo San”.

(2) Company established in Netherlands.

(3) ICH owns 49.78% of the shares in this company.

(4) Companies established in the United States of America, except a subsidiary of SimRep which is established in Canada.

(5) SimRep as an individual company has no significant operations or assets, except for its investment in Republic Steel. For purposes of this report, these companies are named “Republic”.

(6) Company established in Curaçao.

(7) Company established in Brazil.

(8) Companies that have lost the entire capital stock, except Corporativos G&DL, S.A. de C.V., and Administradora de Servicios Siderúrgicos de Tlaxcala, S.A. de C.V. which only have lost 2/3 of their capital stock.

(9) Company incorporated in 2016.

(10) Company incorporated in 2017.

(11) Company incorporated in 2018.

Schedule of Relevant Exchange Rates Used

Relevant exchange rates used in the preparation of the consolidated financial statements of foreign subsidiaries were as follows (Mexican pesos per one U.S. dollar):

	Current exchange rate as of December 31, 2018	19.66
	Current exchange rate as of December 31, 2017	19.74
	Average exchange rate for the year ended December 31, 2018 (*)	19.23
	Average exchange rate for the year ended December 31, 2017 (*)	18.94
	Current exchange rate as of April, 9 of 2019	18.97

(*) Average exchange rate used to translate revenues, costs and expenses of the companies mentioned above.

Schedule of Estimated Useful Lives of Assets

The initial estimated useful lives of the Company’s main assets are as follows:

	Years
Buildings	10 to 65
Machinery and equipment	5 to 40
Transportation equipment	4
Furniture, mixtures and computer equipment	3 to 10

X

- Definition

The entire disclosure for the effect of changes in foreign exchange rates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 21
-IssueDate 2018-01-01
-Section Disclosure
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=21&date=2018-03-01&anchor=sect_Disclosure&doctype=Standard
-URIDate 2018-03-16

+ Details

Name:	ifrs-full_DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory
Namespace Prefix:	ifrs-full_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The disclosure of subsidiaries. [Refer: Subsidiaries [member]]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 27
-IssueDate 2018-01-01
-Paragraph 17
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=27&date=2018-03-01&anchor=para_17_b&doctype=Standard
-URIDate 2018-03-16

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 27
-IssueDate 2018-01-01
-Paragraph 16
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=27&date=2018-03-01&anchor=para_16_b&doctype=Standard
-URIDate 2018-03-16

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 12
-IssueDate 2018-01-01
-Paragraph B4
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=12&date=2018-03-01&anchor=para_B4_a&doctype=Appendix&seq=2
-URIDate 2018-03-16

+ Details

Name:	ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory
Namespace Prefix:	ifrs-full_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	simecb_DisclosureOfBasisOfPreparationAndPresentationOfFinancialStatementsAbstract
Namespace Prefix:	simecb_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The disclosure of detailed information about estimated useful lives of assets.

+ References

No definition available.

+ Details

Name:	simecb_DisclosureOfDetailedInformationAboutEstimatedUsefulLivesOfAssetsExplanatory
Namespace Prefix:	simecb_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration