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Transactions and Balances with Related Parties

12 Months Ended

Dec. 31, 2022

Transactions and Balances with Related Parties [Abstract]

Transactions and balances with related parties

20.

Transactions and balances with related parties

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

	2022		2021		2020

Holding company
Interest income		55,848		34,447		41,034

Management staff
Administrative services expenditures		275,063		113,018		199,488

Other related parties
Sales		392,531		391,664		188,082
Purchases		253,931		40,081		27,507
Direct short-term benefits (*)		120,151		78,321		90,562

(*)

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,
	2022		2021
Short-term
Accounts receivable:
Industrias CH, S.A.B. de C.V.	$	62,055	$	6,073
Cía. Laminadora Vista Hermosa, S.A. de C.V.		974		628
Operadora Compañía Mexicana de Tubos, S.A. de C.V.		824		873
Compañía Manufacturera de Tubos, S.A. de C.V.		2,799
Cía. Tubos y Perfiles Monterrey, S.A. de C.V.		3,371		3,318
Operadora Perfiles Sigosa, S.A. de C.V.		3,999		2,872
Operadora Construalco, S.A. de C.V.		606		519
Aceros y Laminados Sigosa, S.A. de C.V.		16,473		1,638
Arrendadora Norte de Matamoros, S.A. de C.V.		1,294		1,294
Operadora Industrial de Herramientas, S.A. de C.V.				816
Joist del Golfo, S.A. de C.V.		2,582		5,227
Holding Protel, S.A. de C.V.		304
Aceros CH, S.A. de C.V.		130
Sigosa Aceros, S.A. de C.V.		14		18,942
Siderúrgicos del Golfo, S.A. de C.V.		832		940
Perfiles Comerciales Sigosa, S.A. de C.V.		4,125		25,588
Pytsa Industrial de Mexico. S.A. de C.V.		438		438
Aceros y Laminados Sigosa, S.A. de C.V.				820
Acertam, S.A. de C.V.		785
Servicios Estructurales, S.A. de C.V.		3,047
Others		151		246
	$	104,803	$	70,232

	December 31,
	2022		2021
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.	$	959,153	$	915,553
Perfiles Comerciales Sigosa, S.A. de C.V.		145,910		154,605
	$	1,105,063	$	1,070,158
Total, long-term	$	1,753,344	$	1,718,439

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.

Loans:

In USD 25,400, equivalent to $521,208 Mx. Pesos, plus interest for $120,494, plus VAT of $18,596, resulting a total for $660,298 as of December 31, 2021. As of January 2022 an amending Agreement was made where the balance as of that date remains in Mexican pesos.

As of December 31,2021 a loan in pesos from Industrias CH, S.A.B. de C.V. for $186,752 plus interest of $59,054 plus the IVA of $9,449 for a balance of $255,255.

These granted loans in USD and pesos including interest amount to $ 959,153 as of December 31, 2022. (2021 $915,553).

As of December 31, 2022, including the loan in USD converted into pesos, were as follows: $707,851 plus interests of 217,357, plus VAT of $33,945, with a total of $959,153.

As of December 31, 2022, there is a receivable from Perfiles Comerciales Sigosa, S.A. de C.V., derived from loan interest of $ 145,910 (USD $7,742,685), and a balance receivable of $ 154,605, as of December 31, 2021.

	2022		2021
Accounts payable:

Aceros y Laminados Sigosa, S.A. de C.V.	$	24,455	$	7,155
Industrias CH, S.A.B. de C.V.		245,388		214,294
Perfiles Comeciales Sigosa, S.A. de C.V.		3,802		3,802
Holding Protel, S.A. de C.V.		251		251
Compañia Laminadora Vista Hermosa, S.A. de C.V.		518		445
Operadora Perfiles Sigosa, S.A. de C.V.		2,800		2,074
Operadora Pytsa Industrial, S.A. de C.V.		8,353		11,603
Comercializadora Sigosa, S.A. de C.V.				2,532
Compañia Manufacturera de Tubos, S.A. de C.V.		9,837		7,174
Operadora Compañia Mexicana de Tubos, S.A. de C.V.		7,583		7,090
Sigosa Aceros, S.A. de C.V.		7		48,096
Cía. Mexicana de Perfiles y Tubos, S.A. de C.V.		595		595
Industrias Procarsa, S.A. de C.V.		139		156
Ferrovisa, S.A. de C.V.		7,069		7,458
Other		195		188
	$	310,992	$	312,913

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

Loans from related parties:
Operadora de Perfiles Sigosa, S.A. de C.V.	$	2,381,464	$
	$	2,381,464	$
	$	2,692,456	$	312,913

This balance corresponds to a current account loan granted by Operadora de Perfiles Sigosa, S.A. de C.V. (Sigosa), to be invested in Treasury Bonds; the interest derived from said investment upon expiration thereof, will be delivered to Sigosa.