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Note 11 - Property, plant and equipment, net | 12 Months Ended
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Dec. 31, 2023
Note 11 - Property, plant and equipment, net |
Note 11 - Property, plant and equipment, net | 11 Property, plant and equipment, net
Year ended December 31, 2023 | Land and civil buildings |  |  | Industrial buildings, plant and production equipment |  |  | Vehicles, furniture and fixtures |  |  | Work in progress |  |  | Spare parts and equipment |  |  | Total |
Cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Values at the beginning of the year | 815,763 |  |  | 12,857,494 |  |  | 402,485 |  |  | 252,379 |  |  | 55,526 |  |  | 14,383,647 |
Currency translation adjustment | 1,863 |  |  | 53,282 |  |  | 1,675 |  |  | 1,462 |  |  | 199 |  |  | 58,481 |
Increase due to business combinations (*) | 64,413 |  |  | 256,899 |  |  | 831 |  |  | 71,838 |  |  | - |  |  | 393,981 |
Additions | 330 |  |  | 3,661 |  |  | 820 |  |  | 546,515 |  |  | 19,671 |  |  | 570,997 |
Transfers / Reclassifications | 12,031 |  |  | 435,550 |  |  | 22,530 |  |  | (471,381 | ) |  | - |  |  | (1,270 | )
Disposals / Consumptions | (4,443 | ) |  | (68,613 | ) |  | (11,428 | ) |  | (4,710 | ) |  | (3,562 | ) |  | (92,756 | )
Values at the end of the year | 889,957 |  |  | 13,538,273 |  |  | 416,913 |  |  | 396,103 |  |  | 71,834 |  |  | 15,313,080 |
Depreciation and impairment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accumulated at the beginning of the year | 152,272 |  |  | 8,313,971 |  |  | 340,526 |  |  | - |  |  | 20,615 |  |  | 8,827,384 |
Currency translation adjustment | 390 |  |  | 38,074 |  |  | 1,584 |  |  | - |  |  | 105 |  |  | 40,153 |
Depreciation charge | 12,256 |  |  | 411,861 |  |  | 19,839 |  |  | - |  |  | 1,934 |  |  | 445,890 |
Transfers / Reclassifications | (16 | ) |  | (391 | ) |  | 27 |  |  | - |  |  | - |  |  | (380 | )
Disposals / Consumptions | (8 | ) |  | (67,471 | ) |  | (10,667 | ) |  | - |  |  | - |  |  | (78,146 | )
Accumulated at the end of the year | 164,894 |  |  | 8,696,044 |  |  | 351,309 |  |  | - |  |  | 22,654 |  |  | 9,234,901 |
At December 31, 2023 | 725,063 |  |  | 4,842,229 |  |  | 65,604 |  |  | 396,103 |  |  | 49,180 |  |  | 6,078,179 |
(*) Related to the GPC, Isoplus anticorrosion coating division, Republic Tube LLC’s OCTG pipe processing facility and Mattr’s pipe coating business unit acquisitions. For more information see note 34.
Year ended December 31, 2022 | Land and civil buildings |  |  | Industrial buildings, plant and production equipment |  |  | Vehicles, furniture and fixtures |  |  | Work in progress |  |  | Spare parts and equipment |  |  | Total |
Cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Values at the beginning of the year | 830,104 |  |  | 13,064,541 |  |  | 420,930 |  |  | 147,429 |  |  | 59,522 |  |  | 14,522,526 |
Currency translation adjustment | (1,601 | ) |  | (71,347 | ) |  | (1,838 | ) |  | 376 |  |  | (174 | ) |  | (74,584 | )
Increase due to business combinations (*) | - |  |  | - |  |  | - |  |  | 187 |  |  | - |  |  | 187 |
Additions | - |  |  | 2,271 |  |  | 734 |  |  | 334,912 |  |  | 8,150 |  |  | 346,067 |
Transfers / Reclassifications | 9,829 |  |  | 184,915 |  |  | 16,221 |  |  | (227,153 | ) |  | - |  |  | (16,188 | )
Disposals / Consumptions | (22,569 | ) |  | (322,886 | ) |  | (33,562 | ) |  | (3,372 | ) |  | (11,972 | ) |  | (394,361 | )
Values at the end of the year | 815,763 |  |  | 12,857,494 |  |  | 402,485 |  |  | 252,379 |  |  | 55,526 |  |  | 14,383,647 |
Depreciation and impairment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accumulated at the beginning of the year | 139,941 |  |  | 8,199,724 |  |  | 353,639 |  |  | - |  |  | 4,421 |  |  | 8,697,725 |
Currency translation adjustment | (289 | ) |  | (51,283 | ) |  | (1,756 | ) |  | - |  |  | 130 |  |  | (53,198 | )
Depreciation charge | 13,577 |  |  | 432,648 |  |  | 21,022 |  |  | - |  |  | 20,485 |  |  | 487,732 |
Transfers / Reclassifications | (2 | ) |  | (21,506 | ) |  | (215 | ) |  | - |  |  | - |  |  | (21,723 | )
Impairment charge (See note 5) | - |  |  | 75,722 |  |  | 321 |  |  | - |  |  | - |  |  | 76,043 |
Disposals / Consumptions | (955 | ) |  | (321,334 | ) |  | (32,485 | ) |  | - |  |  | (4,421 | ) |  | (359,195 | )
Accumulated at the end of the year | 152,272 |  |  | 8,313,971 |  |  | 340,526 |  |  | - |  |  | 20,615 |  |  | 8,827,384 |
At December 31, 2022 | 663,491 |  |  | 4,543,523 |  |  | 61,959 |  |  | 252,379 |  |  | 34,911 |  |  | 5,556,263 |
(*)Related to Parques Eólicos de la Buena Ventura S.A. acquisition. See note 28 for a description of certain restricted assets with a carrying value of $56.2 million held in Saudi Arabia by the Company’s subsidiary SSPC, in which Tenaris holds a 47.79% interest. Property, plant and equipment include capitalized interest s for net amount s at December 31, 20 2 3 and 20 2 2 of $28.8 million and $30.4 million, respectively. The re were no new interest s capitalized during 20 2 3 and 20 2 2. Government grants recognized as a reduction of property, plant and equipment were not material for the years 202 3 and 202 2. For the year 2023, t he carrying amount of assets pledged as security for current and non-current borrowings amounted to $89.6 million held in Saudi Arabia by the Company´s subsidiary GPC, in which SSPC holds a 57.3% interest. For the year 2022, t he carrying amount of assets pledged as security for current and non-current borrowings we re not material.

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