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Note 6 - Other operating income and expenses | 12 Months Ended
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Dec. 31, 2024
Note 6 - Other operating income and expenses |
Note 6 - Other operating income and expenses | 6 Other operating income and expenses
| Year ended December 31, |
| 2024 |  |  | 2023 |  |  | 2022 |
Other operating income |  |  |  |  |  |  |  |
Results from sundry assets | 10,529 |  |  | 10,960 |  |  | 28,161 |
Net rents | 4,417 |  |  | 4,702 |  |  | 5,084 |
Reclassification of currency translation adjustment reserve | - |  |  | 878 |  |  | 71,252 |
Bargain purchase gain | 2,212 |  |  | 3,162 |  |  | - |
Result on sale of Venezuela awards | - |  |  | 33,341 |  |  | - |
Other income | 43,492 |  |  | - |  |  | - |
| 60,650 |  |  | 53,043 |  |  | 104,497 |
Other operating expenses |  |  |  |  |  |  |  |
Contributions to welfare projects and non-profit organizations | (17,657 | ) |  | (15,538 | ) |  | (13,668 | )
Allowance for doubtful receivables | (546 | ) |  | (107 | ) |  | (346 | )
Securities Exchange Commission investigation settlement | - |  |  | - |  |  | (78,100 | )
Provision for the ongoing litigation related to the acquisition of participation in Usiminas | (107,215 | ) |  | - |  |  | - |
Other expense | - |  |  | (1,628 | ) |  | (12,595 | )
| (125,418 | ) |  | (17,273 | ) |  | (104,709 | )
Other operating income and expenses, net | (64,768 | ) |  | 35,770 |  |  | (212 | )
Other operating income Bargain purchase gain: For the year 2024, related to Mattr’s pipe coating business unit acquisition. For more information see note 34. For the year 2023, related to Isoplus anticorrosion coating division acquisition. Result on sal e of Venezuela awards: For the year 2023, related to the transfer of the awards obtained in connection with the nationalizations of the Company’s interests in its majority-owned subsidiaries TAVSA – Tubos de Acero de Venezuela S.A., Matesi Materiales Siderúrgicos S.A. and Complejo Siderúrgico de Guayana, C.A. Reclassification of currency translation adjustment reserve: During 2022, a s result of NKKTubes’ definitive cease of operations, the currency translation adjustment reserve belonging to the shareholders was reclassified to the income statement. Other income: For the year 2024, includes mainly $17.6 million related to the recovery of various legal proceedings in Brazil and $7 million related to an insurance recovery. Other operating expens e s Provision for the ongoing litigation related to the acquisition of participation in Usiminas: For the year 2024, related to the provision described in note 27 “Contingencies, commitments and restrictions to the distribution of profits - Contingencies - CSN claims relating to the January 2012 acquisition of Usiminas”, and does not include the net foreign exchange result. Securities Exchange Commission investigation settlement: For more information see note 27 “Contingencies, commitments and restrictions to the distribution of profits - Contingencies - Petrobras-related proceedings and claims”.

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