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Note 6 - Other operating income and expenses | 12 Months Ended
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Dec. 31, 2023
Note 6 - Other operating income and expenses |
Note 6 - Other operating income and expenses | 6 Other operating income and expenses
| Year ended December 31, |
| 2023 |  |  | 2022 |  |  | 2021 |
Other operating income |  |  |  |  |  |  |  |
Net income from other sales | 10,960 |  |  | 28,161 |  |  | 10,694 |
Net rents | 4,702 |  |  | 5,084 |  |  | 5,314 |
Reclassification of currency translation adjustment reserve | 878 |  |  | 71,252 |  |  | - |
Tax recovery in Brazilian subsidiaries | - |  |  | - |  |  | 35,568 |
Bargain purchase gain | 3,162 |  |  | - |  |  | - |
Result on sale of Venezuela awards | 33,341 |  |  | - |  |  | - |
Recovery on allowance for doubtful receivables | - |  |  | - |  |  | 379 |
Other income | - |  |  | - |  |  | 16,290 |
| 53,043 |  |  | 104,497 |  |  | 68,245 |
Other operating expenses |  |  |  |  |  |  |  |
Contributions to welfare projects and non-profit organizations | 15,538 |  |  | 13,668 |  |  | 6,697 |
Allowance for doubtful receivables | 107 |  |  | 346 |  |  | - |
Securities Exchange Commission investigation settlement | - |  |  | 78,100 |  |  | - |
Other expense | 1,628 |  |  | 12,595 |  |  | - |
| 17,273 |  |  | 104,709 |  |  | 6,697 |
Other income, net | 35,770 |  |  | (212 | ) |  | 61,548 |
Reclassification of currency translation adjustment reserve: During 2022, a s result of NKKTubes’ definitive cease of operations, the currency translation adjustment reserve belonging to the shareholders was reclassified to the income statement. For more information see not e 36. Tax recovery in Brazilian subsidiaries: On May 13, 2021, the Brazilian Supreme Court issued a final judgment confirming that in calculating PIS and COFINS (Federal Social Contributions on Gross Revenues), tax payers should exclude from its base the total output of ICMS, calculated on a gross basis. This decision led to a recognition of approximately $53 million tax credit in Brazilian subsidiaries, out of which $36 million were recognized in other operating income and $17 million in financial results (impacting in Finance Income and Finance Cost). In addition the tax charge related to this gain amounted to $12 million. Bargain purchase gain: This gain relates to the Isoplus anticorrosion coating division acquisition. For more information see note 34 “Business Combinations - Acquisition of Anticorrosion Coating Assets in Italy”. Result on sale of Venezuela awards: For more information see not e 35. Other income: On November 1, 2021, Tenaris sold 100% of the shares of Geneva Structural Tubes LLC (“Geneva”) to MKK USA Inc., a subsidiary of Maruichi Steel Tube Ltd of Japan for an aggregate price of $24.3 million. The gain of this transaction amounted to approximately $6.8 million. Securities Exchange Commission investigation settlement: For more information see note 27 “Contingencies, commitments and restrictions to the distribution of profits - Contingencies - Petrobras-related proceedings and claims”.

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