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Note 8 - Equity in earnings of non-consolidated companies

12 Months Ended

Dec. 31, 2023

Note 8 - Equity in earnings of non-consolidated companies

Note 8 - Equity in earnings of non-consolidated companies

8 Equity in earnings of non-consolidated companies

	Year ended December 31,
	2023		2022		2021
From non-consolidated companies	104,897		242,743		512,591
Remeasurement of previously held interest	4,506		-		-
Bargain purchase gain	11,487		-		-
Impairment loss on non-consolidated companies	-		(34,041	)	-
Net loss related to participation increase in Usiminas	(25,486	)	-		-
	95,404		208,702		512,591

Remeasurement of previously held interest and Bargain purchase gain: For year ended December 31, 2023, include $4.5 million and $11.5 million related to GPC acquisition. For more information see note 34 “Business Combinations - Acquisition of Global Pipe Company”.

Impairment loss on non-consolidated companies: For year ended December 31, 2022, $19.1 related to the investment in Usiminas and $14.9 related to the joint venture with PAO Severstal (“Severstal”).

Net loss related to participation increase in Usiminas: For more information see note 14 “Investments in non-consolidated companies - Usiminas”.