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Transactions and balances with related parties

12 Months Ended

Dec. 31, 2020

Disclosure of transactions between related parties [abstract]

Transactions and balances with related parties

18.

Transactions and balances with related parties

Transactions with related parties, carried out in the ordinary course of business, were as follows:

	2 0 2 0		2 0 1 9			2 0 1 8

Holding company
Interest expense	$	-	$	-	$		7,346
Interest income		41,034		265,200			210,514

Management staff
Administrative services expenditures		199,488		23,548			23,494

Other related parties
Sales		188,082		249,560			20,375
Purchases		27,507		438,052			372,759
Direct short-term benefits (*)		90,562		106,631			90,600

(*) Correspond to the salaries, allowances and bonuses paid to the executives of Simec.

Balances receivable from and payable to related parties are as follows:

	December 31,
	2 0 2 0		2 0 1 9
Short-term
Accounts receivable:
Industrias CH, S.A.B. de C.V.	$	6,073	$	-
Cá. Laminadora Vista Hermosa, S.A. de C.V.		611		-
Operadora compañía Mexicana de Tubos, S.A. de C.V.		848		-
Cía Tubos y Perfiles Monterrey, S.A. de C.V.		3,318		-
Operadora Perfiles Sigosa, S.A. de C.V.		3,452		-
Operadora Construalco, S.A. de C.V.		3,320		717
Operadora Industrial de Herramientas, S.A. de C.V.		411		38
Perfiles Comerciales Sigosa, S.A. de C.V.				2,250
Joist del Golfo, S.A. de C.V.		12,192		5,105
Ferrovisa, S.A.		17,762
Others		782		5,816
	$	52,706	$	13,925

	December 31,
	2 0 2 0		2 0 1 9
Long-term
Accounts receivable:
Industrias CH, S.A.B. de C.V.	$	648,281	$	648,281
	$	648,281	$	648,281
Loans to related parties:
Industrias CH, S.A.B de C.V.	$	858,510	$	780,989
Perfiles Comerciales Sigosa, S.A. de C.V.		150,233		142,268
	$	1,008,743	$	923,257
Total, long-term	$	1,657,024	$	1,571,538

The account receivable with Industrias CH, S.A.B. de C.V. corresponds mainly to ISR balances to be recovered, due to the fact that some companies consolidated ISR for tax purposes until 2013 with this company.

At December 31, 2020, loans denominated in both USD and pesos, were outstanding from Industrias CH, S.A.B. de C.V.

In USD 24,400, equivalent to $506,354 Mx. Pesos, plus interest for $93,816, plus VAT of $14,279, resulting a total for $614,449 (as of December 31, 2019, the loan is equivalent to $479,368, plus interest of $61,978, plus VAT of $9,273, giving as a result, a total for $550,619); the interest rate agreed was TIIE plus a percentual point.

The loan in pesos for $186,752 plus interest of $49,404 plus the IVA of $7,905 for a balance of $244,061 (as of December 31, 2019 this amount, when to $186,752 plus interest of $37,602, plus VAT of $6,016 for a balance of $230,370). These granted loans in USD and pesos including interest amount to $858,510 as of December 31, 2019. ($780,989).

At December 31, 2020, there was a loan receivable from Perfiles Comerciales Sigosa, S.A. de C.V., including interests of $ 150,233 (USD $7,536,068), and a balance pending collection of $ 142,268, as of December 31, 2019.

	2 0 2 0		2 0 1 9
Accounts payable:

Aceros y Laminados Sigosa, S.A. de C.V.	$	4,625	$	1,853
Industrias CH, S.A.B. de C.V.		214,294		208,223
Perfiles Comeciales Sigosa, S.A. de C.V.		1,292		3,632
Holding Protel, S.A. de C.V.		251		251
Compañia Laminadora Vista Hermosa, S.A. de C.V.		1,404		1,904
Operadora Perfiles Sigosa, S.A. de C.V.		3,855		5,850
Operadora Pytsa Industrial, S.A. de C.V.		9,073		8,233
Comercializadora SIGOSA, S.A. de C.V.		102,067		0
Compañia Manufacturera de Tubos, S.A. de C.V.		7,377		9,631
Operadora Compañia Mexicana de Tubos, S.A. de C.V.		6,287		0
Cía. Mexicana de Perfiles y Tubos, S.A. de C.V.		634		-
Others		352		1,949
	$	351,511	$	241,526

The other accounts payable correspond to services and / or purchases of finished products according to their activity.