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Provisions - (Tables) | 12 Months Ended
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Dec. 31, 2018
Disclosure of other provisions [line items] |
Schedule showing breakdown of non-current and current provisions |
|  | 2018 |  | 2017
|  | Non- Current |  | Current |  | Total |  | Non- Current |  | Current |  | Total
|  | US$'000 |  | US$'000 |  | US$'000 |  | US$'000 |  | US$'000 |  | US$'000
Provision for pensions |  | 52,529 |  | 197 |  | 52,726 |  | 59,195 |  | — |  | 59,195
Environmental provision |  | 2,880 |  | 331 |  | 3,211 |  | 3,121 |  | 346 |  | 3,467
Provisions for litigation |  | — |  | 2,399 |  | 2,399 |  | — |  | 11,732 |  | 11,732
Provisions for third-party liability |  | 7,270 |  | — |  | 7,270 |  | 7,639 |  | — |  | 7,639
Provisions for C02 emissions allowances |  | 2,859 |  | 25,111 |  | 27,970 |  | — |  | 7,281 |  | 7,281
Other provisions |  | 10,249 |  | 12,532 |  | 22,781 |  | 12,442 |  | 13,736 |  | 26,178
Total |  | 75,787 |  | 40,570 |  | 116,357 |  | 82,397 |  | 33,095 |  | 115,492
Schedule of changes in provisions | The changes in the various line items of provisions in 2018 and 2017 were as follows:
|  |  |  |  |  | Provisions for |  | Provisions for |  | Provisions for |  |  |  |
|  | Provision for |  | Environmental |  | Litigation |  | Third |  | CO2 Emissions |  | Other |  |
|  | Pensions |  | Provision |  | in Progress |  | Party Liability |  | Allowances |  | Provisions |  | Total
|  | US$'000 |  | US$'000 |  | US$'000 |  | US$'000 |  | US$'000 |  | US$'000 |  | US$'000
Balance at January 1, 2017 |  | 60,876 |  | 3,083 |  | — |  | 5,835 |  | 5,512 |  | 26,278 |  | 101,584
Charges for the year |  | 5,082 |  | 133 |  | 10,807 |  | 2,451 |  | 6,946 |  | 1,494 |  | 26,913
Provisions reversed with a credit to income |  | (1,321) |  | — |  | (237) |  | (181) |  | — |  | (545) |  | (2,284)
Amounts used |  | (2,304) |  | (93) |  | — |  | — |  | (5,907) |  | (2,911) |  | (11,215)
Provision against equity |  | (4,511) |  | — |  | — |  | — |  | — |  | — |  | (4,511)
Transfers from/(to) other accounts |  | — |  | — |  | 931 |  | (12) |  | — |  | (612) |  | 307
Exchange differences and others |  | 1,373 |  | 344 |  | 231 |  | (454) |  | 730 |  | 1,009 |  | 3,233
Transfer from liabilities associated with assets held for sale (see Note 29) |  | — |  | — |  | — |  | — |  | — |  | 1,465 |  | 1,465
Balance at December 31, 2017 |  | 59,195 |  | 3,467 |  | 11,732 |  | 7,639 |  | 7,281 |  | 26,178 |  | 115,492
Charges for the year |  | 4,611 |  | 103 |  | 392 |  | 229 |  | 26,348 |  | 2,483 |  | 34,166
Provisions reversed with a credit to income |  | (36) |  | — |  | — |  | (9) |  | — |  | (1,524) |  | (1,569)
Amounts used |  | (2,076) |  | — |  | (9,595) |  | (239) |  | (5,470) |  | (3,039) |  | (20,419)
Provision against equity |  | (3,568) |  | — |  | — |  | — |  | — |  | — |  | (3,568)
Transfers from/(to) other accounts |  | 277 |  | — |  | — |  | — |  | — |  | — |  | 277
Exchange differences and others |  | (5,677) |  | (359) |  | (130) |  | (350) |  | (189) |  | (2,035) |  | (8,740)
Additions from business combinations (see Note 5) |  | — |  | — |  | — |  | — |  | — |  | 735 |  | 735
Disposals from business divestitures |  | — |  | — |  | — |  | — |  | — |  | (17) |  | (17)
Balance at December 31, 2018 |  | 52,726 |  | 3,211 |  | 2,399 |  | 7,270 |  | 27,970 |  | 22,781 |  | 116,357
France |
Disclosure of other provisions [line items] |
Schedule showing changes in obligation |
|  | 2018 |  | 2017
|  | US$'000 |  | US$'000
Obligations at the beginning of year |  | 29,768 |  | 29,733
Current service cost |  | 1,678 |  | 1,834
Borrowing costs |  | 470 |  | 383
Actuarial differences |  | (700) |  | (4,570)
Benefits paid |  | (1,818) |  | (1,471)
Exchange differences |  | (1,349) |  | 3,859
Obligations at the end of year |  | 28,049 |  | 29,768
Schedule of estimated future benefit payments | The following table reflects the gross benefit payments that are expected to be paid for the benefit plans for the year ended December 31, 2018:
|  | 2018
|  | US$'000
2019 |  | 1,597
2020 |  | 977
2021 |  | 1,179
2022 |  | 1,329
2023 |  | 2,007
Years 2024-2028 |  | 8,628
South Africa |
Disclosure of other provisions [line items] |
Schedule showing changes in obligation | In this regard, the changes of this provision in 2018 and 2017 were as follows:
|  | 2018 |  | 2017
|  | US$'000 |  | US$'000
Obligations at beginning of year |  | 7,872 |  | 8,760
Current service cost |  | 139 |  | 310
Borrowing costs |  | 740 |  | 932
Actuarial differences |  | (2,000) |  | (2,226)
Benefits paid |  | (226) |  | (740)
Exchange differences |  | (1,096) |  | 836
Obligations at end of year |  | 5,429 |  | 7,872
Schedule of breakdown in percentage of plan assets | The breakdown, in percentage, of the plan assets are as follows:
|  | 2018 |  | 2017 |
Cash |  | 1.72 | % | 47.45 | %
Equity |  | 47.42 | % | 24.79 | %
Bond |  | 13.62 | % | 7.66 | %
Property |  | 2.67 | % | 1.41 | %
International |  | 30.27 | % | 15.74 | %
Others |  | 4.30 | % | 2.95 | %
Total |  | 100.00 | % | 100.00 | %
Schedule showing fair value rollforward of plan assets | Changes in the fair value of plan assets linked to the defined benefit plans in South Africa were as set forth in the following table:
|  | 2018 |  | 2017
|  | US$'000 |  | US$'000
Fair value of plan assets at the beginning of the year |  | 2,248 |  | 3,532
Interest income on assets |  | 216 |  | 255
Benefits paid |  | (50) |  | (2,609)
Actuarial differences |  | (228) |  | 270
Other |  | (280) |  | 800
Fair value of plan assets at the end of the year |  | 1,906 |  | 2,248
Actual return on assets |  | (11) |  | 525
Venezuela |
Disclosure of other provisions [line items] |
Schedule showing changes in obligation | In this regards, the changes of this provision in 2018 and 2017 were as follows:
|  | 2018 |  | 2017
|  | US$'000 |  | US$'000
Obligations at the beginning of year |  | 1,883 |  | 2,955
Current service cost |  | 775 |  | 158
Borrowing costs |  | — |  | 2,255
Benefits paid |  | (35) |  | (93)
Exchange differences |  | (2,089) |  | (3,392)
Obligations at the end of year |  | 534 |  | 1,883
Summary of the main actuarial assumptions used to calculate obligations | The summary of the main actuarial assumptions used to calculate the aforementioned obligations is as follows:
|  | France |  | South Africa |  | Venezuela |
|  | 2018 |  | 2017 |  | 2018 |  | 2017 |  | 2018 |  | 2017 |
Salary increase |  | 1.60%-6.10% |  | 1.60%-6.10% |  | 7.2 | % | 8.1 | % | 400000 | % | 207.25 | %
Discount rate |  | 2% |  | 2% |  | 9.9 | % | 10.3 | % | 520004 | % | 219.54 | %
Expected inflation rate |  | 1.60% |  | 1.60% |  | 6.2 | % | 7.10 | % | 500000 | % | 207 | %
Mortality |  | TGH05/TGF05 |  | TGH05/TGF05 |  | SA 85-90 / PA (90) |  | SA 85-90 / PA (90) |  | UP94 |  | UP94 |
Retirement age |  | 65 |  | 65 |  | 63 |  | 63 |  | 64 |  | 63 |
North America |
Disclosure of other provisions [line items] |
Schedule showing changes in obligation | The changes to these obligations in the current year ended December 31, 2018 were as follows:
|  | 2018
|  | USA |  | Canada
|  | Pension |  | Pension |  | Post-retirement |  |
|  | Plans |  | Plans |  | Plans |  | Total
|  | US$'000 |  | US$'000 |  | US$'000 |  | US$'000
Obligations at the beginning of year |  | 38,195 |  | 24,788 |  | 8,837 |  | 71,820
Service cost |  | 185 |  | 123 |  | 334 |  | 642
Borrowing cost |  | 1,300 |  | 816 |  | 297 |  | 2,413
Actuarial differences |  | (2,849) |  | (416) |  | (1,240) |  | (4,505)
Benefits paid |  | (1,874) |  | (978) |  | (161) |  | (3,013)
Exchange differences |  | — |  | (1,940) |  | (690) |  | (2,630)
Expenses |  | (70) |  | — |  | — |  | (70)
Plan amendments |  | 175 |  | — |  | — |  | 175
Obligations at the end of year |  | 35,062 |  | 22,393 |  | 7,377 |  | 64,832
Schedule of estimated future benefit payments | The following reflects the gross benefit payments that are expected to be paid in future years for the benefit plans for the year ended December 31:
|  |  |  | Non-pension
|  |  |  | Postretirement
|  | Pension Plans |  | Plans
|  | US$'000 |  | US$'000
2019 |  | 3,175 |  | 197
2020 |  | 3,205 |  | 197
2021 |  | 3,241 |  | 203
2022 |  | 3,247 |  | 203
2023 |  | 3,311 |  | 222
Years 2024-2028 |  | 17,178 |  | 1,393
Schedule of breakdown in percentage of plan assets | The breakdown as of December 31, 2018 and 2017 of the assets by class are:
|  | 2018 |  | 2017 |
Cash |  | 1 | % | 2 | %
Equity Mutual Funds |  | 40 | % | 45 | %
Fixed Income Securities |  | 59 | % | 51 | %
Real Estate Mutual Funds |  | — | % | 2 | %
Total |  | 100 | % | 100 | %
Schedule showing fair value rollforward of plan assets | For the year ended December 31, 2018, the changes in plan assets were as follows:
|  | 2018
|  | USA |  | Canada
|  | Pension |  | Pension |  |
|  | Plans |  | Plans |  | Total
|  | US$'000 |  | US$'000 |  | US$'000
Fair value of plan assets at the beginning of the year |  | 32,869 |  | 19,283 |  | 52,152
Interest income on assets |  | 1,110 |  | 643 |  | 1,753
Benefits paid |  | (1,874) |  | (978) |  | (2,852)
Actuarial return on plan assets |  | (3,044) |  | (1,154) |  | (4,198)
Other |  | (23) |  | (718) |  | (741)
Fair value of plan assets at the end of the year |  | 29,038 |  | 17,076 |  | 46,114
Summary of the main actuarial assumptions used to calculate obligations | The assumptions used to determine benefit obligations at December 31, 2018 and 2017 for the North American plans are as follows:
|  | North America – 2018 |  | North America – 2017 |
|  | USA |  | Canada |  | USA |  | Canada |
|  | Pension |  | Pension |  | Postretirement |  | Pension |  | Pension |  | Postretirement |
|  | Plan |  | Plan |  | Plan |  | Plan |  | Plan |  | Plan |
Salary increase |  | N/A |  | 2.75% - 3.00% |  | N/A |  | N/A |  | 2.75% - 3.00% |  | N/A |
Discount rate |  | 4.00% |  | 3.80% |  | 3.90% |  | 3.50% |  | 3.60% |  | 3.65% |
Expected inflation rate |  | N/A |  | N/A |  | N/A |  | N/A |  | N/A |  | N/A |
Mortality |  | SOA RP-2014 Blue Collar Mortality |  | CPM2014-Private |  | CPM2014-Private |  | SOA RP-2014 Total Dataset Mortality |  | CPM2014-Private |  | CPM2014-Private |
Retirement age |  | 65 |  | 62 |  | 62 |  | 65 |  | 62 |  | 62 |
Schedule showing reconciliation of benefit obligations, plan assets and funded status | Benefit Obligations and Funded Status – The following provides a reconciliation of the benefit obligations, plan assets and funded status of the North American plans as of December 31, 2018 and 2017:
|  | 2018 |  | 2017
|  | USA |  | Canada |  | USA |  | Canada
|  |  |  |  |  | Post- |  |  |  |  |  |  |  | Post- |  |
|  | Pension |  | Pension |  | retirement |  |  |  | Pension |  | Pension |  | retirement |  |
|  | Plans |  | Plans |  | Plans |  | Total |  | Plans |  | Plans |  | Plans |  | Total
|  | US$'000 |  | US$'000 |  | US$'000 |  | US$'000 |  | US$'000 |  | US$'000 |  | US$'000 |  | US$'000
Benefit obligation |  | 35,062 |  | 22,393 |  | 7,377 |  | 64,832 |  | 38,195 |  | 24,788 |  | 8,837 |  | 71,820
Fair value of plan assets |  | (29,038) |  | (17,076) |  | — |  | (46,114) |  | (32,869) |  | (19,283) |  | — |  | (52,152)
Provision for pensions |  | 6,024 |  | 5,317 |  | 7,377 |  | 18,718 |  | 5,326 |  | 5,505 |  | 8,837 |  | 19,668

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