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Consolidated Statement of Changes In Equity - USD ($)
$ in Thousands
Issued capital [member]
Legal reserves [member]
Share premium [member]
Currency translation adjustment [member]
Other reserves [member]
Retained earnings [member]
Equity attributable to owners of parent [member]
Non-controlling interests [member]
Total
Balance at Dec. 31, 2016 $ 1,180,537 [1] $ 118,054 $ 609,733 $ (965,955) $ (313,088) [2] $ 10,658,136 $ 11,287,417 $ 125,655 $ 11,413,072
Statement Line Items [Line Items]                  
Income for the year [1] [2] 544,737 544,737 (8,348) 536,389
Currency translation adjustment [1] 151,080 [2] 151,080 682 151,762
Remeasurements of post employment benefit obligations, net of taxes [1] (7,423) [2] (7,423) 126 (7,297)
Change in value of instruments at fair value through other comprehensive income and cash flow hedges, net of taxes [1] 4,549 [2] 4,549 (24) 4,525
From other comprehensive income of non-consolidated companies [1] (9,548) 136 [2] (9,412) (9,412)
Other comprehensive (loss) income for the year [1] 141,532 (2,738) [2] 138,794 784 139,578
Total comprehensive income (loss) for the year [1] 141,532 (2,738) [2] 544,737 683,531 (7,564) 675,967
Acquisition and other changes in non-controlling interests [1] (4,743) [2] (4,743) 4,694 (49)
Dividends paid in cash [1] [2] (484,020) (484,020) (24,000) (508,020)
Balance at Dec. 31, 2017 1,180,537 [1] 118,054 609,733 (824,423) (320,569) [2] 10,718,853 11,482,185 98,785 11,580,970
Statement Line Items [Line Items]                  
Income for the year [1] [2] 876,063 876,063 (2,163) 873,900
Currency translation adjustment [1] (96,673) [2] (96,673) (243) (96,916)
Remeasurements of post employment benefit obligations, net of taxes [1] 6,135 [2] 6,135 (104) 6,031
Change in value of instruments at fair value through other comprehensive income and cash flow hedges, net of taxes [1] (6,673) [2] (6,673) 6 (6,667)
From other comprehensive income of non-consolidated companies [1] 1,848 (3,987) [2] (2,139) (2,139)
Other comprehensive (loss) income for the year [1] (94,825) (4,525) [2] (99,350) (341) (99,691)
Total comprehensive income (loss) for the year [1] (94,825) (4,525) [2] 876,063 776,713 (2,504) 774,209
Acquisition and other changes in non-controlling interests [1] (2) [2] (2) (22) (24)
Dividends paid in cash [1] [2] (484,020) (484,020) (3,661) (487,681)
Balance (Previously stated [member]) at Dec. 31, 2018 1,180,537 [1] 118,054 609,733 (919,248) (322,310) [2] 11,116,116 11,782,882 92,610 11,875,492
Balance at Dec. 31, 2018 1,180,537 [3] 118,054 609,733 (919,248) (322,310) [4] 11,116,116 [5] 11,782,882 92,610 11,875,492
Changes in accounting policies (Section II AP) at Dec. 31, 2017 [1] 2,786 [2] 5,220 8,006 12 8,018
Balance at December 31, 2017 restated at Dec. 31, 2017 1,180,537 [1] 118,054 609,733 (824,423) (317,783) [2] 10,724,073 11,490,191 98,797 11,588,988
Statement Line Items [Line Items]                  
Income for the year [3] [4] 742,686 [5] 742,686 (11,428) 731,258
Currency translation adjustment [3] (27,217) [4] [5] (27,217) (77) (27,294)
Remeasurements of post employment benefit obligations, net of taxes [3] (7,132) [4] [5] (7,132) (595) (7,727)
Change in value of instruments at fair value through other comprehensive income and cash flow hedges, net of taxes [3] 1,605 [4] [5] 1,605 727 2,332
From other comprehensive income of non-consolidated companies [3] (10,781) (9,066) [4] [5] (19,847) (19,847)
Other comprehensive (loss) income for the year [3] (37,998) (14,593) [4] [5] (52,591) 55 (52,536)
Total comprehensive income (loss) for the year [3] (37,998) (14,593) [4] 742,686 [5] 690,095 (11,373) 678,722
Acquisition and other changes in non-controlling interests [6] [3] 1 [4] [5] 1 117,984 117,985
Dividends paid in cash [3] [4] (484,020) [5] (484,020) (1,807) (485,827)
Balance at Dec. 31, 2019 $ 1,180,537 [3] $ 118,054 $ 609,733 $ (957,246) $ (336,902) [4] $ 11,374,782 [5] $ 11,988,958 $ 197,414 $ 12,186,372
[1] The Company has an authorized share capital of a single class of 2.5 billion shares having a nominal value of $1.00 per share. As of December 31, 2018 and 2017 there were 1,180,536,830 shares issued. All issued shares are fully paid.
[2] Other reserves include mainly the result of transactions with non-controlling interests that do not result in a loss of control, the remeasurement of post-employment benefit obligations and the changes in value of cash flow hedges and in available for sale financial instruments.
[3] The Company has an authorized share capital of a single class of 2.5 billion shares having a nominal value of $1.00 per share. As of December 31, 2019 there were 1,180,536,830 shares issued. All issued shares are fully paid.
[4] Other reserves include mainly the result of transactions with non-controlling interests that do not result in a loss of control, the remeasurement of post-employment benefit obligations, the changes in value of cash flow hedges and the changes in financial instruments measured at fair value through other comprehensive income.
[5] The restrictions to the distribution of profits and payment of dividends according to Luxembourg Law are disclosed in Note 25.
[6] Related to Saudi Steel Pipe Company ("SSP") acquisition. See note 27.