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Note 1 - Segment Information | 12 Months Ended
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Dec. 31, 2019
Statement Line Items [Line Items] |
Disclosure of entity's operating segments [text block] |
| 1 | Segment information
As mentioned in section II. AP – C, the Segment Information is disclosed as follows: Reportable operating segments (All amounts in millions of U.S. dollars)
Year ended December 31, 2019 |  | Tubes |  |  | Other |  |  | Continuing operations |  |  | Discontinued operations |
IFRS - Net Sales |  |  | 6,870 |  |  |  | 424 |  |  |  | 7,294 |  |  |  | - |
Management view - operating income |  |  | 857 |  |  |  | 73 |  |  |  | 929 |  |  |  | - |
Difference in cost of sales |  |  | (105 | ) |  |  | 3 |  |  |  | (102 | ) |  |  | - |
Differences in depreciation and amortization |  |  | (1 | ) |  |  | (0 | ) |  |  | (1 | ) |  |  | - |
Differences in selling, general and administrative expenses |  |  | (1 | ) |  |  | 1 |  |  |  | (0 | ) |  |  | - |
Differences in other operating income (expenses), net |  |  | 6 |  |  |  | - |  |  |  | 6 |  |  |  | - |
IFRS - operating income |  |  | 755 |  |  |  | 77 |  |  |  | 832 |  |  |  | - |
Financial income (expense), net |  |  |  |  |  |  |  |  |  |  | 19 |  |  |  | - |
Income before equity in earnings of non-consolidated companies and income tax |  |  |  |  |  |  |  |  |  |  | 852 |  |  |  | - |
Equity in earnings of non-consolidated companies |  |  |  |  |  |  |  |  |  |  | 82 |  |  |  | - |
Income before income tax |  |  |  |  |  |  |  |  |  |  | 934 |  |  |  | - |
Capital expenditures |  |  | 338 |  |  |  | 12 |  |  |  | 350 |  |  |  | - |
Depreciation and amortization |  |  | 523 |  |  |  | 17 |  |  |  | 540 |  |  |  | - |
Year ended December 31, 2018 |  | Tubes |  |  | Other |  |  | Continuing operations |  |  | Discontinued operations |
IFRS - Net Sales |  |  | 7,233 |  |  |  | 426 |  |  |  | 7,659 |  |  |  | - |
Management view - operating income |  |  | 702 |  |  |  | 81 |  |  |  | 783 |  |  |  | - |
Difference in cost of sales |  |  | 112 |  |  |  | 7 |  |  |  | 119 |  |  |  | - |
Differences in depreciation and amortization |  |  | (34 | ) |  |  | - |  |  |  | (34 | ) |  |  | - |
Differences in selling, general and administrative expenses |  |  | (2 | ) |  |  | 6 |  |  |  | 4 |  |  |  | - |
IFRS - operating income |  |  | 777 |  |  |  | 95 |  |  |  | 872 |  |  |  | - |
Financial income (expense), net |  |  |  |  |  |  |  |  |  |  | 37 |  |  |  | - |
Income before equity in earnings of non-consolidated companies and income tax |  |  |  |  |  |  |  |  |  |  | 909 |  |  |  | - |
Equity in earnings of non-consolidated companies |  |  |  |  |  |  |  |  |  |  | 194 |  |  |  | - |
Income before income tax |  |  |  |  |  |  |  |  |  |  | 1,103 |  |  |  | - |
Capital expenditures |  |  | 346 |  |  |  | 3 |  |  |  | 349 |  |  |  | - |
Depreciation and amortization |  |  | 645 |  |  |  | 19 |  |  |  | 664 |  |  |  | - |
Year ended December 31, 2017 |  | Tubes |  |  | Other |  |  | Continuing operations |  |  | Discontinued operations |
IFRS - Net Sales |  |  | 4,966 |  |  |  | 323 |  |  |  | 5,289 |  |  |  | 12 |
Management view - operating income |  |  | 115 |  |  |  | 48 |  |  |  | 163 |  |  |  | 3 |
Difference in cost of sales |  |  | 164 |  |  |  | 1 |  |  |  | 165 |  |  |  | (1 | )
Differences in depreciation and amortization |  |  | (3 | ) |  |  | - |  |  |  | (3 | ) |  |  | - |
Differences in selling, general and administrative expenses |  |  | 14 |  |  |  | (6 | ) |  |  | 8 |  |  |  | - |
Differences in other operating income (expenses), net |  |  | 2 |  |  |  | - |  |  |  | 2 |  |  |  | - |
IFRS - operating income |  |  | 292 |  |  |  | 43 |  |  |  | 335 |  |  |  | 2 |
Financial income (expense), net |  |  |  |  |  |  |  |  |  |  | (23 | ) |  |  | - |
Income before equity in earnings of non-consolidated companies and income tax |  |  |  |  |  |  |  |  |  |  | 312 |  |  |  | 2 |
Equity in earnings of non-consolidated companies |  |  |  |  |  |  |  |  |  |  | 116 |  |  |  | - |
Income before income tax |  |  |  |  |  |  |  |  |  |  | 428 |  |  |  | 2 |
Capital expenditures |  |  | 550 |  |  |  | 8 |  |  |  | 558 |  |  |  | - |
Depreciation and amortization |  |  | 594 |  |  |  | 15 |  |  |  | 609 |  |  |  | - |
Transactions between segments, which were eliminated in consolidation, are mainly related to sales of scrap, energy, surplus raw materials and others from the Other segment to the Tubes segment for $36, $52 and $53 million in 2019, 2018 and 2017, respectively. There are no material differences between total reportable segments’ revenues and the entity’s revenue under IFRS. The main differences between operating income under IFRS view and the management view are mainly related to the cost of goods sold and other timing differences. See Section II. A. C. Segment Information. In addition to the amounts reconciled above, the main differences in net income arise from the impact of functional currencies on financial result, deferred income taxes as well as the result of investment in non-consolidated companies and changes on the valuation of inventories according to cost estimation internally defined. Geographical information
(all amounts in thousands of U.S. dollars) |  | North America |  |  | South America |  |  | Europe |  |  | Middle East & Africa |  |  | Asia Pacific |  |  | Unallocated (*) |  |  | Total continuing operations |  |  | Total discontinued operations |
Year ended December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  |  | 3,429,911 |  |  |  | 1,391,288 |  |  |  | 738,880 |  |  |  | 1,382,172 |  |  |  | 351,804 |  |  |  | - |  |  |  | 7,294,055 |  |  |  | - |
Total assets |  |  | 7,885,120 |  |  |  | 2,227,044 |  |  |  | 2,282,775 |  |  |  | 958,424 |  |  |  | 609,663 |  |  |  | 879,965 |  |  |  | 14,842,991 |  |  |  | - |
Trade receivables |  |  | 612,809 |  |  |  | 176,173 |  |  |  | 149,321 |  |  |  | 319,406 |  |  |  | 90,451 |  |  |  | - |  |  |  | 1,348,160 |  |  |  | - |
Property, plant and equipment, net |  |  | 3,771,570 |  |  |  | 1,129,260 |  |  |  | 816,721 |  |  |  | 254,858 |  |  |  | 117,608 |  |  |  | - |  |  |  | 6,090,017 |  |  |  | - |
Capital expenditures |  |  | 169,390 |  |  |  | 113,999 |  |  |  | 55,169 |  |  |  | 4,578 |  |  |  | 7,038 |  |  |  | - |  |  |  | 350,174 |  |  |  | - |
Depreciation and amortization |  |  | 276,046 |  |  |  | 105,308 |  |  |  | 82,400 |  |  |  | 42,520 |  |  |  | 33,247 |  |  |  | - |  |  |  | 539,521 |  |  |  | - |
Year ended December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  |  | 3,611,509 |  |  |  | 1,462,044 |  |  |  | 724,733 |  |  |  | 1,559,988 |  |  |  | 300,314 |  |  |  | - |  |  |  | 7,658,588 |  |  |  | - |
Total assets |  |  | 7,971,311 |  |  |  | 2,489,522 |  |  |  | 1,913,589 |  |  |  | 588,746 |  |  |  | 482,563 |  |  |  | 805,568 |  |  |  | 14,251,299 |  |  |  | - |
Trade receivables |  |  | 791,190 |  |  |  | 280,801 |  |  |  | 215,202 |  |  |  | 383,358 |  |  |  | 66,815 |  |  |  | - |  |  |  | 1,737,366 |  |  |  | - |
Property, plant and equipment, net |  |  | 3,859,060 |  |  |  | 1,133,113 |  |  |  | 848,178 |  |  |  | 94,040 |  |  |  | 129,517 |  |  |  | - |  |  |  | 6,063,908 |  |  |  | - |
Capital expenditures |  |  | 196,220 |  |  |  | 68,603 |  |  |  | 77,467 |  |  |  | 2,047 |  |  |  | 5,136 |  |  |  | - |  |  |  | 349,473 |  |  |  | - |
Depreciation and amortization |  |  | 441,705 |  |  |  | 108,558 |  |  |  | 82,769 |  |  |  | 10,389 |  |  |  | 20,936 |  |  |  | - |  |  |  | 664,357 |  |  |  | - |
Year ended December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  |  | 2,451,357 |  |  |  | 1,142,142 |  |  |  | 545,777 |  |  |  | 937,439 |  |  |  | 211,789 |  |  |  | - |  |  |  | 5,288,504 |  |  |  | 11,899 |
Total assets |  |  | 7,925,520 |  |  |  | 2,975,599 |  |  |  | 2,002,658 |  |  |  | 391,029 |  |  |  | 441,546 |  |  |  | 661,866 |  |  |  | 14,398,218 |  |  |  | - |
Trade receivables |  |  | 582,204 |  |  |  | 234,877 |  |  |  | 214,944 |  |  |  | 135,524 |  |  |  | 46,511 |  |  |  | - |  |  |  | 1,214,060 |  |  |  | - |
Property, plant and equipment, net |  |  | 3,914,229 |  |  |  | 1,190,145 |  |  |  | 878,788 |  |  |  | 102,481 |  |  |  | 143,500 |  |  |  | - |  |  |  | 6,229,143 |  |  |  | - |
Capital expenditures |  |  | 430,142 |  |  |  | 58,949 |  |  |  | 57,285 |  |  |  | 7,562 |  |  |  | 4,153 |  |  |  | - |  |  |  | 558,091 |  |  |  | 145 |
Depreciation and amortization |  |  | 354,091 |  |  |  | 126,273 |  |  |  | 93,900 |  |  |  | 12,094 |  |  |  | 22,282 |  |  |  | - |  |  |  | 608,640 |  |  |  | - |
(*) For 2019 and 2018 includes Investments in non-consolidated companies, for 2017 includes Investments in non-consolidated companies and Other equity investments for $21.6 million. See Note 12 and 33. There are no revenues from external customers attributable to the Company’s country of incorporation (Luxembourg). For geographical information purposes, “North America” comprises Canada, Mexico and the USA ( 31% ); “South America” comprises principally Argentina ( 12% ), Brazil and Colombia; “Europe” comprises principally Italy, Romania and United Kingdom; “Middle East and Africa” comprises principally Egypt, Kazakhstan, Nigeria, India and Saudi Arabia and; “Asia Pacific” comprises principally China, Japan, Indonesia and Thailand. Revenue is mainly recognized at a point in time to direct customers, when control has been transferred and there is no unfulfilled performance obligation that could affect the acceptance of the product by the customer. Tenaris’s revenues related to governmental institutions represents approximately 21%, 15% and 17% in 2019, 2018 and 2017 respectively. Tubes segment revenues by market:
Revenues Tubes (in million US dollar) |  | 2019 |  |  | 2018 |  |  | 2017 |
Oil and Gas |  |  | 5,757 |  |  |  | 6,042 |  |  |  | 4,034 |
Hydrocarbon Processing and Power Generation |  |  | 534 |  |  |  | 602 |  |  |  | 484 |
Industrial and Other |  |  | 579 |  |  |  | 589 |  |  |  | 448 |
Total |  |  | 6,870 |  |  |  | 7,233 |  |  |  | 4,966 |
At December 2019, 2018 and 2017, the Company recognized contract liabilities related to customer advances in the amount of $82.7, $62.7 and $56.7 million, respectively. These amounts related to years 2018 and 2017 were reclassified to revenues during the subsequent year. In these periods, no significant adjustment in revenues were performed related to performance obligations previously satisfied.

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