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Note 11 - Right-of-use Assets, Net and Lease Liabilities | 12 Months Ended
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Dec. 31, 2019
Statement Line Items [Line Items] |
Disclosure of leases [text block] |
| 11 | Right-of-use assets, net and lease liabilities
Right of use assets evolution
Year ended December 31, 2019 |  | Land and Civil Buildings |  | Industrial Buildings, Plant and Production Equipment |  | Vehicles, furniture and fixtures |  | Total
Cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Opening net book amount |  |  | 27,713 |  |  |  | 202,352 |  |  |  | 8,335 |  |  |  | 238,400 |
Increase due to business combinations |  |  | 229 |  |  |  | 2,038 |  |  |  | - |  |  |  | 2,267 |
Currency translation adjustment |  |  | (88 | ) |  |  | 6 |  |  |  | 8 |  |  |  | (74 | )
Additions |  |  | 9,292 |  |  |  | 24,985 |  |  |  | 7,165 |  |  |  | 41,442 |
Disposals |  |  | (1,009 | ) |  |  | (4,488 | ) |  |  | (818 | ) |  |  | (6,315 | )
Transfers |  |  | - |  |  |  | 496 |  |  |  | (496 | ) |  |  | - |
At December 31, 2019 |  |  | 36,137 |  |  |  | 225,389 |  |  |  | 14,194 |  |  |  | 275,720 |
Depreciation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accumulated at the beginning of the year |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Translation differences |  |  | (3 | ) |  |  | 3 |  |  |  | 8 |  |  |  | 8 |
Depreciation charge |  |  | 8,514 |  |  |  | 31,869 |  |  |  | 3,908 |  |  |  | 44,291 |
Transfers / Reclassifications |  |  | - |  |  |  | (62 | ) |  |  | 62 |  |  |  | - |
Disposals / Consumptions |  |  | (181 | ) |  |  | (1,229 | ) |  |  | (295 | ) |  |  | (1,705 | )
Accumulated at the end of the year |  |  | 8,330 |  |  |  | 30,581 |  |  |  | 3,683 |  |  |  | 42,594 |
At December 31, 2019 |  |  | 27,807 |  |  |  | 194,808 |  |  |  | 10,511 |  |  |  | 233,126 |
Depreciation of right-of-use assets was mainly included in Tubes segment. The initial cost of right-of-use assets consists of the initial lease liability plus lease payments made in 2018 of approximately $4 million. Lease liability evolution
(all amounts in thousands of U.S. dollars) |  | 2019
Year ended December 31, 2019 |  |  |  |
Opening net book amount |  |  | 234,149 |
Increase due to business combinations |  |  | 2,267 |
Translation differences |  |  | 2,690 |
Additions |  |  | 36,957 |
Cancellations |  |  | (4,688 | )
Repayments |  |  | (43,974 | )
Interest accrued |  |  | 2,766 |
At December 31, 2019 |  |  | 230,167 |
( * ) The weighted average lessee’s incremental borrowing rate applied to the lease liabilities on January 1, 2019 was 2.4%. The amount of remaining payments with maturity less than 1 year, between 2 and 5 years and more than 5 years is approximately 16%, 44% and 40% of the total remaining payments, respectively. Expense relating to short-term leases and low value leases (included in cost of sales and selling, general and administrative expenses ) in the period amounted to $15.1 million and $1.3 million respectively.

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