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III. FINANCIAL RISK MANAGEMENT (Tables)
 12 Months Ended
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 million fixed rate borrowings, $271.1 million 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. See note 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, related to the sale of Venezuela awards. For more information see notes 6 and 35.