XML 27 R14.htm IDEA: XBRL DOCUMENT
v3.22.1

Inventories | 12 Months Ended
--- | ---
Dec. 31, 2021
Disclosure of inventories [text block] [Abstract] |
Inventories |
9. | Inventories
Current inventory:
|  | December 31, |
|  | 2021 |  |  | 2020 |
Finished goods |  | $ | 2,772,167 |  |  | $ | 2,302,443 |
Work-in-process |  |  | 355,830 |  |  |  | 96,174 |
Billets |  |  | 2,255,933 |  |  |  | 2,232,736 |
Raw materials and supplies |  |  | 5,092,292 |  |  |  | 2,817,090 |
Materials, spare parts and rollers |  |  | 1,271,891 |  |  |  | 1,233,282 |
Materials in-transit |  |  | 0 |  |  |  | 391,874 |
|  | $ | 11,748,113 |  |  | $ | 9,073,599 |
Non-current inventory:
|  | December 31, |
|  | 2021 |  |  | 2020 |
Coke |  | $ | 1,303,975 |  |  | $ | 952,690 |
Spare parts |  |  | 62,092 |  |  |  | 72,139 |
Rollers |  |  | 162,263 |  |  |  | 185,498 |
Finished goods |  |  | 353,095 |  |  |  | 353,095 |
|  |  | 1,881,425 |  |  |  | 1,563,422 |
Less, valuation allowance at the lower of cost or net realizable value. |  |  | (353,095 | ) |  |  | (353,095 | )
|  | $ | 1,528,330 |  |  | $ | 1,210,327 |
The Company has $ 1,303,975 and $ 952,690 of coke inventory on hand as of December 31, 2021 and 2020 respectively (See note 4-e), which the Company would use as an input to its blast furnace in the Lorain facility which is currently idled. Management of the Company continually evaluates both the idled facility and the coke inventory for impairment. Management periodically evaluates the potential degradation of the coke inventory and has determined that it continues to be suitable as a blast furnace input or, alternatively, for sale to other blast furnace facilities. As of March 2022, management considers that there will be recovery in the industries in which the Company operates; this would result in the blast furnace being restarted in the future. However, the Company has recorded an impairment to the blast furnace resulting in a book value of zero. The Company has continued incurring certain costs to maintain the assets in Lorain, including the blast furnace and the coke; such costs are expensed as incurred. In order to restart the blast furnace the Company will incur expenses for the restoration of the equipment, and there is still uncertainty on the date on which the blast furnace will restart operation, if ever The Company cannot offer any guarantee of the eventual restarting of the blast furnace or when conditions will become economically feasible to do so.

X
- Definition The entire disclosure for inventories. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 2 -IssueDate 2021-01-01 -Section Disclosure -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=2&code=ifrs-tx-2021-en-r&doctype=Standard&dita_xref=IAS02_g36-39__IAS02_g36-39_TI -URIDate 2021-03-24 + Details
Name: | ifrs-full_DisclosureOfInventoriesExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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