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v3.24.1

III. FINANCIAL RISK MANAGEMENT (Tables) | 12 Months Ended
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Dec. 31, 2023
III. FINANCIAL RISK MANAGEMENT |
Disclosure of effect of changes in foreign exchange rates [text block] |
All amounts Long / (Short) in thousands of U.S. dollars | As of December 31, |
Currency Exposure / Functional currency | 2023 |  |  | 2022 |
Argentine Peso / U.S. dollar | (134,716 | ) |  | (126,739 | )
Euro / U.S. dollar | (203,608 | ) |  | (42,458 | )
Saudi Arabian Riyal / U.S. dollar | (181,931 | ) |  | (74,183 | )
Disclosure of financial instruments by type of interest rate [text block] |
| As of December 31, |
| 2023 |  |  | 2022 |
| In thousands of U.S. dollars |  |  | % |  |  | In thousands of U.S. dollars |  |  | % |
Fixed rate (*) | 294,946 |  |  | 51% |  |  | 497,889 |  |  | 68% |
Variable rate | 288,491 |  |  | 49% |  |  | 230,873 |  |  | 32% |
Total | 583,437 |  |  |  |  |  | 728,762 |  |  |  |
(*) Out of the $294.9 m illion fixed rate borrowings, $271.1 m illion are short-term.
Disclosure of fair value of financial instruments [text block] |
| Carrying amount |  |  | Measurement Categories |  |  | At Fair Value |
December 31, 2023 | Amortized Cost |  |  | FVOCI |  |  | FVPL |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | 1,637,821 |  |  | 1,414,397 |  |  | - |  |  | 223,424 |  |  | 223,424 |  |  | - |  |  | - |
Other investments | 1,969,631 |  |  | 896,166 |  |  | 834,281 |  |  | 239,184 |  |  | 1,073,465 |  |  | - |  |  | - |
Fixed income (time-deposit, zero coupon bonds, commercial papers) | 896,166 |  |  | 896,166 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
U.S. Sovereign Bills | 282,225 |  |  | 282,225 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Certificates of deposits | 334,637 |  |  | 334,637 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Commercial papers | 196,708 |  |  | 196,708 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Other notes | 82,596 |  |  | 82,596 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Bonds and other fixed income | 834,281 |  |  | - |  |  | 834,281 |  |  | - |  |  | 834,281 |  |  | - |  |  | - |
U.S. government securities | 126,399 |  |  | - |  |  | 126,399 |  |  | - |  |  | 126,399 |  |  | - |  |  | - |
Non-U.S. government securities | 10,943 |  |  | - |  |  | 10,943 |  |  | - |  |  | 10,943 |  |  | - |  |  | - |
Corporates securities | 696,939 |  |  | - |  |  | 696,939 |  |  |  |  |  | 696,939 |  |  | - |  |  | - |
Mutual Fund | 239,184 |  |  | - |  |  | - |  |  | 239,184 |  |  | 239,184 |  |  | - |  |  | - |
Derivative financial instruments | 9,801 |  |  | - |  |  | - |  |  | 9,801 |  |  | - |  |  | 9,801 |  |  | - |
Other Investments Non-current | 405,631 |  |  | - |  |  | 398,220 |  |  | 7,411 |  |  | 398,220 |  |  | - |  |  | 7,411 |
Bonds and other fixed income | 398,220 |  |  | - |  |  | 398,220 |  |  | - |  |  | 398,220 |  |  | - |  |  | - |
Other investments | 7,411 |  |  | - |  |  | - |  |  | 7,411 |  |  | - |  |  | - |  |  | 7,411 |
Trade receivables | 2,480,889 |  |  | 2,480,889 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Receivables C and NC | 414,778 |  |  | 93,144 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Other receivables | 93,144 |  |  | 93,144 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Other receivables (non-financial) | 321,634 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Total |  |  |  | 4,884,596 |  |  | 1,232,501 |  |  | 479,820 |  |  | 1,695,109 |  |  | 9,801 |  |  | 7,411 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Borrowings C and NC | 583,437 |  |  | 583,437 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Other liabilities C and NC (*) | 693,913 |  |  | - |  |  | - |  |  | 86,240 |  |  | - |  |  | - |  |  | 86,240 |
Other liabilities | 86,240 |  |  | - |  |  | - |  |  | 86,240 |  |  | - |  |  | - |  |  | 86,240 |
Other liabilities (non-financial) | 607,673 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Trade payables | 1,107,567 |  |  | 1,107,567 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Lease Liabilities C and NC | 134,433 |  |  | 134,433 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Derivative financial instruments | 11,150 |  |  | - |  |  | - |  |  | 11,150 |  |  | - |  |  | 11,150 |  |  | - |
Total |  |  |  | 1,825,437 |  |  | - |  |  | 97,390 |  |  | - |  |  | 11,150 |  |  | 86,240 |
(*) Includes liability related to share buyback program. See note 37 to these Consolidated Financial Statements.
| Carrying amount |  |  | Measurement Categories |  |  | At Fair Value |
December 31, 2022 | Amortized Cost |  |  | FVOCI |  |  | FVPL |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | 1,091,527 |  |  | 668,668 |  |  | - |  |  | 422,859 |  |  | 422,859 |  |  | - |  |  | - |
Other investments | 438,448 |  |  | 196,152 |  |  | 182,988 |  |  | 59,308 |  |  | 242,296 |  |  | - |  |  | - |
Fixed income (time-deposit, zero coupon bonds, commercial papers) | 196,152 |  |  | 196,152 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Certificates of deposits | 36,167 |  |  | 36,167 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Commercial papers | 19,785 |  |  | 19,785 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Other notes | 140,200 |  |  | 140,200 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Bonds and other fixed income | 211,953 |  |  | - |  |  | 182,988 |  |  | 28,965 |  |  | 211,953 |  |  | - |  |  | - |
Non-U.S. government securities | 108,310 |  |  | - |  |  | 79,345 |  |  | 28,965 |  |  | 108,310 |  |  | - |  |  | - |
Corporates securities | 103,643 |  |  | - |  |  | 103,643 |  |  | - |  |  | 103,643 |  |  | - |  |  | - |
Mutual Fund | 30,343 |  |  | - |  |  | - |  |  | 30,343 |  |  | 30,343 |  |  | - |  |  | - |
Derivative financial instruments | 30,805 |  |  | - |  |  | - |  |  | 30,805 |  |  | - |  |  | 30,805 |  |  | - |
Other Investments Non-current | 119,902 |  |  | - |  |  | 113,574 |  |  | 6,328 |  |  | 113,574 |  |  | - |  |  | 6,328 |
Bonds and other fixed income | 113,574 |  |  | - |  |  | 113,574 |  |  | - |  |  | 113,574 |  |  | - |  |  | - |
Other investments | 6,328 |  |  | - |  |  | - |  |  | 6,328 |  |  | - |  |  | - |  |  | 6,328 |
Trade receivables | 2,493,940 |  |  | 2,493,940 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Receivables C and NC (*) | 395,531 |  |  | 105,397 |  |  | 48,659 |  |  | - |  |  | - |  |  | - |  |  | 48,659 |
Other receivables | 154,056 |  |  | 105,397 |  |  | 48,659 |  |  | - |  |  | - |  |  | - |  |  | 48,659 |
Other receivables (non-financial) | 241,475 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Total |  |  |  | 3,464,157 |  |  | 345,221 |  |  | 519,300 |  |  | 778,729 |  |  | 30,805 |  |  | 54,987 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Borrowings C and NC | 728,762 |  |  | 728,762 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Trade payables | 1,179,457 |  |  | 1,179,457 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Lease Liabilities C and NC | 112,177 |  |  | 112,177 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Derivative financial instruments | 7,127 |  |  | - |  |  | - |  |  | 7,127 |  |  | - |  |  | 7,127 |  |  | - |
Total |  |  |  | 2,020,396 |  |  | - |  |  | 7,127 |  |  | - |  |  | 7,127 |  |  | - |
(*) Includes balances related to interest in Venezuelan companies. S ee n ote 35 to these Consolidated Financial Statements.
Disclosure of fair value measurement [text block] |
| Year ended December 31, |
| 2023 |  |  | 2022 |
At the beginning of the year | 54,987 |  |  | 56,294 |
Decrease (*) | (47,467 | ) |  | (1,126 | )
Currency translation adjustment and others | (109 | ) |  | (181 | )
At the end of the year | 7,411 |  |  | 54,987 |
(*) For 2023, r elated to the sale of Venezuela awards. For more information see notes 6 and 35.

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