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Note 21 - Deferred tax assets and liabilities | 12 Months Ended
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Dec. 31, 2022
Disclosure of temporary difference, unused tax losses and unused tax credits [abstract] |
Note 21 - Deferred tax assets and liabilities | 21 Deferred tax assets and liabilities Deferred income taxes are calculated in full on temporary differences under the liability method using the tax rate of each country. The evolution of deferred tax assets and liabilities during the year is as follows: Deferred tax liabilities
| Fixed assets |  |  | Inventories |  |  | Intangible assets and other |  |  | Total |
At the beginning of the year | 669,830 |  |  | 27,508 |  |  | 104,346 |  |  | 801,684 |
Translation differences | (64 | ) |  | 15 |  |  | 600 |  |  | 551 |
Charged to other comprehensive income | - |  |  | - |  |  | 1,719 |  |  | 1,719 |
Income statement (credit) / charge | (94,099 | ) |  | 16,009 |  |  | 7,877 |  |  | (70,213 | )
At December 31, 2022 | 575,667 |  |  | 43,532 |  |  | 114,542 |  |  | 733,741 |
| Fixed assets |  |  | Inventories |  |  | Intangible assets and other |  |  | Total |
At the beginning of the year | 702,415 |  |  | 15,255 |  |  | 125,793 |  |  | 843,463 |
Translation differences | (461 | ) |  | - |  |  | (2,059 | ) |  | (2,520 | )
Decrease due to sale of subsidiaries (*) | (637 | ) |  | - |  |  | - |  |  | (637 | )
Charged to other comprehensive income | - |  |  | - |  |  | 4,061 |  |  | 4,061 |
Income statement (credit) / charge | (31,487 | ) |  | 12,253 |  |  | (23,449 | ) |  | (42,683 | )
At December 31, 2021 | 669,830 |  |  | 27,508 |  |  | 104,346 |  |  | 801,684 |
Deferred tax assets
| Provisions and allowances |  |  | Inventories |  |  | Tax losses |  |  | Other |  |  | Total |
At the beginning of the year | (25,083 | ) |  | (85,037 | ) |  | (485,763 | ) |  | (176,627 | ) |  | (772,510 | )
Translation differences | (345 | ) |  | 114 |  |  | 747 |  |  | (245) |  |  | 271 |
Charged to other comprehensive income | - |  |  | - |  |  | - |  |  | 954 |  |  | 954 |
Income statement charge / (credit) | (389 | ) |  | (95,229 | ) |  | 174,427 |  |  | 18,934 |  |  | 97,743 |
At December 31, 2022 | (25,817 | ) |  | (180,152 | ) |  | (310,589 | ) |  | (156,984 | ) |  | (673,542 | )
| Provisions and allowances |  |  | Inventories |  |  | Tax losses |  |  | Other |  |  | Total |
At the beginning of the year | (21,208 | ) |  | (85,937 | ) |  | (480,149 | ) |  | (206,958 | ) |  | (794,252 | )
Translation differences | 506 |  |  | 606 |  |  | 80 |  |  | 1,195 |  |  | 2,387 |
Decrease due to sale of subsidiaries (*) | - |  |  | 93 |  |  | - |  |  | 11 |  |  | 104 |
Charged to other comprehensive income | - |  |  | - |  |  | - |  |  | 2,587 |  |  | 2,587 |
Income statement charge / (credit) | (4,381 | ) |  | 201 |  |  | (5,694) |  |  | 26,538 |  |  | 16,664 |
At December 31, 2021 | (25,083 | ) |  | (85,037 | ) |  | (485,763 | ) |  | (176,627 | ) |  | (772,510 | )
(*)Related to Geneva sale. See note 6 to these Consolidated Financial Statements. Deferred tax assets related to taxable losses of Tenaris subsidiaries are recognized to the extent it is considered probable that future taxable profits will be available, against which such losses can be utilized in the foreseeable future. This amount includes $300 million related to U.S. subsidiaries mainly due to the recognition of accelera ted fiscal depreciations, as well as the amounts related to the acquisition of IPSCO in 2020.The remaining balance mainly corresponds to Tenaris’s Saudi Arabian subsidiar ies. These subsidiaries have incurred in fiscal losses in the past one or two years. Tenaris has concluded that these deferred tax assets will be recoverable based on t he business plans and budgets. Approximately 100% of the recognized tax losses have an expiration date in more than 5 years or do not expire. As of December 31, 20 2 2, the net unrecognized deferred tax assets amount ed to $120.4 million. U nrecognized tax credits with expiration dates in less than 1 year, between 2 and 5 years and more than 5 years or without expiration date are approximately 8%, 4% and 88% respectively. The estimated recovery analysis of deferred tax assets and settlement of deferred tax liabilities, which takes into consideration m anagement assumptions and estimates, is as follows:
| Year ended December 31, |
| 2022 |  |  | 2021 |
Deferred tax assets to be recovered after 12 months | (171,717 | ) |  | (611,552 | )
Deferred tax liabilities to be settled after 12 months | 688,124 |  |  | 782,128 |
Deferred income tax assets and liabilities are offset when (1) there is a legally enforceable right to set-off current tax assets against current tax liabilities and (2) when the deferred income taxes relate to the same fiscal authority on either the same taxable entity or different taxable entities where there is an intention to settle the balances on a net basis. The following amounts, determined after appropriate set-off, are shown in the C onsolidated S tatement of F inancial P osition:
| Year ended December 31, |
| 2022 |  |  | 2021 |
Deferred tax assets | (208,870 | ) |  | (245,547 | )
Deferred tax liabilities | 269,069 |  |  | 274,721 |
| 60,199 |  |  | 29,174 |
The movement i n the net deferred income tax liability account is as follows:
| Year ended December 31, |
| 2022 |  |  | 2021 |
At the beginning of the year | 29,174 |  |  | 49,211 |
Translation differences | 822 |  |  | (133 | )
Decrease due to sale of subsidiaries | - |  |  | (533 | )
Charged to other comprehensive income | 2,673 |  |  | 6,648 |
Income statement charge / (credit) | 27,530 |  |  | (26,019 | )
At the end of the year | 60,199 |  |  | 29,174 |

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