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Short-term borrowings and debt (Tables)

12 Months Ended

Dec. 31, 2013

Debt Disclosure [Abstract]

Schedule of Short-term Debt [Table Text Block]

The breakdown of short-term borrowings and debt, together with contractual interest rates, is as follows:

			December 31,
(In thousands of US$)			2013			2012
Borrowings:
At fixed interest rates			1,289,851			1,181,133
At floating interest rates			1,017,527			267,890
Total borrowings			2,307,378			1,449,023
Debt:
At fixed interest rates			287,987			-
At floating interest rates			110,000			-
Total debt			397,987			-
Total short-term borrowings and debt			2,705,365			1,449,023
Average outstanding balance during the year			2,048,110			967,629
Maximum balance at any month-end			2,705,365			1,449,023
Range of fixed interest rates on borrowings and debt in U.S. dollars			0.67% to 1.43	%		0.75% to 1.92	%
Range of floating interest rates on borrowings and debt in U.S. dollars			0.79% to 1.47	%		1.06% to 1.99	%
Fixed interest rate on borrowings in Euros			-			0.70	%
Fixed interest rate on borrowings in Mexican pesos			4.13% to 4.58	%		-
Floating interest rate on borrowings in Mexican pesos			4.03% to 4.24	%		5.14% to 5.25	%
Fixed interest rate on debt in Japanese yens			0.75	%		-
Fixed interest rate on debt in Swiss francs			0.80	%		-
Weighted average interest rate at end of the year			1.09	%		1.48	%
Weighted average interest rate during the year			1.21	%		1.79	%

The balances of short-term borrowings and debt by currency, is as follows:

		December 31,
(In thousands of US$)		2013		2012
Currency
U.S. dollar		2,536,815		1,365,500
Euro		-		39,633
Mexican peso		73,964		43,890
Japanese yen		4,749		-
Swiss franc		89,837		-
Total		2,705,365		1,449,023

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- Definition

Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 19

-Article 5



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.19)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

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