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Note 13 - Right-of-use assets, net and lease liabilities | 12 Months Ended
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Dec. 31, 2024
Note 13 - Right-of-use assets, net and lease liabilities |
Note 13 - Right-of-use assets, net and lease liabilities | 13 Right-of-use assets, net and lease liabilities Right of use assets evolution
Year ended December 31, 2024 | Land and Civil Buildings |  |  | Industrial Buildings, Plant and Production Equipment |  |  | Vehicles, furniture and fixtures |  |  | Others |  |  | Total |
Cost |  |  |  |  |  |  |  |  |  |  |  |  |  |
Opening net book amount | 66,464 |  |  | 148,380 |  |  | 43,217 |  |  | 3,668 |  |  | 261,729 |
Currency translation adjustment | (167 | ) |  | (439 | ) |  | (692 | ) |  | - |  |  | (1,298 | )
Additions | 16,034 |  |  | 52,040 |  |  | 22,663 |  |  | 584 |  |  | 91,321 |
Transfers / Reclassifications | (5,027 | ) |  | 5,027 |  |  | - |  |  | - |  |  | - |
Disposals | (10,772 | ) |  | (20,113 | ) |  | (8,706 | ) |  | - |  |  | (39,591 | )
At December 31, 2024 | 66,532 |  |  | 184,895 |  |  | 56,482 |  |  | 4,252 |  |  | 312,161 |
Depreciation |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accumulated at the beginning of the year | 27,972 |  |  | 75,567 |  |  | 25,229 |  |  | 823 |  |  | 129,591 |
Currency translation adjustment | (68 | ) |  | (283 | ) |  | (412 | ) |  | - |  |  | (763 | )
Depreciation charge | 20,448 |  |  | 34,719 |  |  | 13,786 |  |  | 948 |  |  | 69,901 |
Transfers / Reclassifications | (1,514 | ) |  | 1,550 |  |  | (36 | ) |  | - |  |  | - |
Disposals | (10,041 | ) |  | (17,660 | ) |  | (7,735 | ) |  | - |  |  | (35,436 | )
Accumulated at the end of the year | 36,797 |  |  | 93,893 |  |  | 30,832 |  |  | 1,771 |  |  | 163,293 |
At December 31, 2024 | 29,735 |  |  | 91,002 |  |  | 25,650 |  |  | 2,481 |  |  | 148,868 |
Year ended December 31, 2023 | Land and Civil Buildings |  |  | Industrial Buildings, Plant and Production Equipment |  |  | Vehicles, furniture and fixtures |  |  | Others |  |  | Total |
Cost |  |  |  |  |  |  |  |  |  |  |  |  |  |
Opening net book amount | 43,570 |  |  | 125,677 |  |  | 30,291 |  |  | 1,182 |  |  | 200,720 |
Currency translation adjustment | 99 |  |  | 243 |  |  | 263 |  |  | - |  |  | 605 |
Increase due to business combinations (*) | 11,803 |  |  | 37 |  |  | 46 |  |  | - |  |  | 11,886 |
Additions | 13,040 |  |  | 30,066 |  |  | 15,732 |  |  | 2,486 |  |  | 61,324 |
Transfers / Reclassifications | 691 |  |  | - |  |  | (691 | ) |  | - |  |  | - |
Disposals | (2,739 | ) |  | (7,643 | ) |  | (2,424 | ) |  | - |  |  | (12,806 | )
At December 31, 2023 | 66,464 |  |  | 148,380 |  |  | 43,217 |  |  | 3,668 |  |  | 261,729 |
Depreciation |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accumulated at the beginning of the year | 18,933 |  |  | 52,794 |  |  | 17,042 |  |  | 210 |  |  | 88,979 |
Currency translation adjustment | 34 |  |  | 134 |  |  | 200 |  |  | - |  |  | 368 |
Depreciation charge | 9,663 |  |  | 29,685 |  |  | 10,316 |  |  | 613 |  |  | 50,277 |
Transfers / Reclassifications | 691 |  |  | - |  |  | (691 | ) |  | - |  |  | - |
Disposals | (1,349 | ) |  | (7,046 | ) |  | (1,638 | ) |  | - |  |  | (10,033 | )
Accumulated at the end of the year | 27,972 |  |  | 75,567 |  |  | 25,229 |  |  | 823 |  |  | 129,591 |
At December 31, 2023 | 38,492 |  |  | 72,813 |  |  | 17,988 |  |  | 2,845 |  |  | 132,138 |
(*) For the year 2023, r elated to the GPC and Mattr’s pipe coating business unit acquisitions. Depreciation of right-of-use assets is mainly included in Tubes segment. Lease liability evolution
| Year ended December 31, |
| 2024 |  |  | 2023 |
Opening net book amount | 134,433 |  |  | 112,177 |
Changes due to business combinations (*) | (35 | ) |  | 12,148 |
Translation differences | (4,565 | ) |  | 2,237 |
Additions | 91,005 |  |  | 61,310 |
Cancellations | (8,377 | ) |  | (2,972 | )
Repayments (**) | (73,639 | ) |  | (54,940 | )
Interest accrued | 6,104 |  |  | 4,473 |
At December 31, | 144,926 |  |  | 134,433 |
(*) For the year 2024, r elated to Mattr’s pipe coating business unit acquisitions. For more information see note 34. For the year 2023, r elated to the GPC and Mattr’s pipe coating business unit acquisitions. (**) For the year 202 4 includes repayments of $68.6 million in capital and $5.1 million of interest. F or the year 202 3 includes repayments of $51.5 million in capital and $3.4 million of interest. As of December 31, 202 4, t he amount of remaining payments with maturities of less than 1 year, between 2 and 5 years and more than 5 years was approximately 31%, 46% and 23%, respectively. As of December 31, 202 3, t he amount of remaining payments with maturit ies of less than 1 year, between 2 and 5 years and more than 5 years was approximately 28%, 45% and 27%, respectively. Expense s relat ed to short-term leases, leases of low value assets and variable leases (included in C ost of s ales and S elling, g eneral and a dministrative e xpense s) were not material for the years 202 4 and 20 2 3.

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