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Note 23 - Other liabilities (Tables) | 12 Months Ended
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Dec. 31, 2023
Note 23 - Other liabilities |
Disclosure of other non-current liabilities [text block] |
| Year ended December 31, |
| 2023 |  |  | 2022 |
Post-employment benefits | 117,506 |  |  | 108,936 |
Other long-term benefits | 91,435 |  |  | 71,446 |
Miscellaneous | 62,327 |  |  | 49,760 |
| 271,268 |  |  | 230,142 |
Disclosure of net defined benefit liability (asset) [text block] |
| Year ended December 31, |
| 2023 |  |  | 2022 |
Unfunded | 112,532 |  |  | 103,822 |
Funded | 4,974 |  |  | 5,114 |
| 117,506 |  |  | 108,936 |
| Year ended December 31, |
| 2023 |  |  | 2022 |
Values at the beginning of the year | 103,822 |  |  | 103,841 |
Current service cost | 6,537 |  |  | 6,810 |
Interest cost | 11,707 |  |  | 7,610 |
Curtailments and settlements | (675 | ) |  | (64 | )
Remeasurements (*) | 8,899 |  |  | (4,228 | )
Translation differences | (12,687 | ) |  | (5,657 | )
Increase due to business combinations (**) | 4,531 |  |  | - |
Benefits paid from the plan | (8,762 | ) |  | (5,111 | )
Reclassified to current liabilities | - |  |  | (461 | )
Other | (840 | ) |  | 1,082 |
At the end of the year | 112,532 |  |  | 103,822 |
(*) For 20 2 3 a loss of $0.6 million is attributable to demographic assumption s and a loss of $8.3 million to financ ial assumptions. For 2022 a gain of $0.1 million is attributable to demographic assumptions and a gain of $4.1 million to financial assumptions. (**) Related to the GPC, Isoplus anticorrosion coating division and Mattr’s pipe coating business unit acquisitions. For more information see note 34.
| Year ended December 31, |
| 2023 |  |  | 2022 |
Present value of funded obligations | 123,234 |  |  | 116,617 |
Fair value of plan assets | (134,052 | ) |  | (126,842 | )
Asset (*) | (10,818 | ) |  | (10,225 | )
(*) In 20 2 3 and 20 2 2, $15.8 million and $15.3 million corresponding to plans with surplus balance s that w ere reclassified within other non-current assets, respectively, consequently the net post-employment benefits funded exposed as liabilities amounted to $5.0 million and $5.1 million respectively.
| Year ended December 31, |
| 2023 |  |  | 2022 |
At the beginning of the year | 116,617 |  |  | 159,528 |
Translation differences | 1,940 |  |  | (6,635 | )
Current service cost | - |  |  | 154 |
Interest cost | 5,715 |  |  | 4,293 |
Remeasurements (*) | 2,142 |  |  | (30,349 | )
Increase due to business combinations (**) | 4,708 |  |  | - |
Benefits paid | (8,459 | ) |  | (10,374 | )
Other | 571 |  |  | - |
At the end of the year | 123,234 |  |  | 116,617 |
(*) For 202 3 a loss of $0.9 million is attributable to demographic assumptions and a loss of $1.3 million to financial assumptions. For 2022 a gain of $4.8 million is attributable to demographic assumptions and a gain of $25.6 million to financial assumptions. (**) Related to Mattr’s pipe coating business unit acquisition. For more information see note 34.
Disclosure of sensitivity analysis for actuarial assumptions [text block] |
| Year ended December 31, |
| 2023 |  |  | 2022 |
Discount rate | 3% - 7% |  |  | 4% - 7% |
Rate of compensation increase | 2% - 5% |  |  | 2% - 3% |
| Year ended December 31, |
| 2023 |  |  | 2022 |
Discount rate | 5% - 5% |  |  | 3% - 5% |
Rate of compensation increase | 0% - 3% |  |  | 0% - 3% |
Disclosure of fair value of plan assets [text block] |
| Year ended December 31, |
| 2023 |  |  | 2022 |
At the beginning of the year | (126,842 | ) |  | (160,504 | )
Translation differences | (1,897 | ) |  | 6,639 |
Return on plan assets | (6,121 | ) |  | (4,319 | )
Remeasurements | (4,225 | ) |  | 20,987 |
Increase due to business combinations (*) | (3,903 | ) |  | - |
Contributions paid to the plan | - |  |  | (435 | )
Benefits paid from the plan | 8,459 |  |  | 10,374 |
Other | 477 |  |  | 416 |
At the end of the year | (134,052 | ) |  | (126,842 | )
(*) Related to Mattr’s pipe coating business unit acquisitions. For more information see note 34.
| Year ended December 31, |
| 2023 |  |  | 2022 |
Equity instruments | 18% |  |  | 29% |
Debt instruments | 33% |  |  | 67% |
Others | 49% |  |  | 4% |
Disclosure of other current liabilities [text block] |
| Year ended December 31, |
| 2023 |  |  | 2022 |
Payroll and social security payable | 301,213 |  |  | 224,630 |
Shares to be settled under buyback program | 86,240 |  |  | - |
Miscellaneous | 35,192 |  |  | 35,984 |
| 422,645 |  |  | 260,614 |

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- Definition The disclosure of a net defined benefit liability (asset). [Refer: Net defined benefit liability (asset)] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 19 -IssueDate 2023-01-01 -Paragraph 140 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=19&code=ifrs-tx-2023-en-r&anchor=para_140_a&doctype=Standard -URIDate 2023-03-23 + Details
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- Definition The disclosure of other current liabilities. [Refer: Other current liabilities] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_10_e&doctype=Standard -URIDate 2023-03-23 + Details
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- Definition The disclosure of a sensitivity analysis for significant actuarial assumptions used to determine the present value of a defined benefit obligation. [Refer: Actuarial assumptions [member]; Defined benefit obligation, at present value] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 19 -IssueDate 2023-01-01 -Paragraph 145 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=19&code=ifrs-tx-2023-en-r&anchor=para_145&doctype=Standard -URIDate 2023-03-23 + Details
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