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v3.25.1

III. FINANCIAL RISK MANAGEMENT (Tables) | 12 Months Ended
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Dec. 31, 2024
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 | 2024 |  |  | 2023 |
Euro / U.S. dollar | (183,985 | ) |  | (203,608 | )
Saudi Arabian Riyal / U.S. dollar | (173,233 | ) |  | (181,931 | )
Argentine Peso / U.S. dollar | (40,565 | ) |  | (134,716 | )
Brazilian Real / U.S. dollar | (41,591 | ) |  | (25,680 | )
Disclosure of financial instruments by type of interest rate [text block] |
| As of December 31, |
| 2024 |  |  | 2023 |
| In thousands of U.S. dollars |  |  | % |  |  | In thousands of U.S. dollars |  |  | % |
Fixed rate (*) | 172,018 |  |  | 39% |  |  | 294,946 |  |  | 51% |
Variable rate | 265,380 |  |  | 61% |  |  | 288,491 |  |  | 49% |
Total | 437,398 |  |  |  |  |  | 583,437 |  |  |  |
(*) Out of the $172.0 m illion fixed rate borrowings, $162.1 m illion are short-term.
Disclosure of fair value of financial instruments [text block] |
| Carrying amount |  |  | Measurement Categories |  |  | At Fair Value |
December 31, 2024 | Amortized Cost |  |  | FVOCI |  |  | FVPL |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | 675,256 |  |  | 320,212 |  |  | - |  |  | 355,044 |  |  | 355,044 |  |  | - |  |  | - |
Other investments | 2,372,999 |  |  | 722,328 |  |  | 1,273,673 |  |  | 376,998 |  |  | 1,650,671 |  |  | - |  |  | - |
Fixed income (time-deposit, zero coupon bonds, commercial papers) | 722,328 |  |  | 722,328 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Certificates of deposits | 582,142 |  |  | 582,142 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Commercial papers | 130,034 |  |  | 130,034 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Other notes | 10,152 |  |  | 10,152 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Bonds and other fixed income | 1,273,673 |  |  | - |  |  | 1,273,673 |  |  | - |  |  | 1,273,673 |  |  | - |  |  | - |
U.S. government securities | 645,841 |  |  | - |  |  | 645,841 |  |  | - |  |  | 645,841 |  |  | - |  |  | - |
Non-U.S. government securities | 31,383 |  |  | - |  |  | 31,383 |  |  | - |  |  | 31,383 |  |  | - |  |  | - |
Corporates securities | 586,229 |  |  | - |  |  | 586,229 |  |  |  |  |  | 586,229 |  |  | - |  |  | - |
Other notes | 10,220 |  |  |  |  |  | 10,220 |  |  |  |  |  | 10,220 |  |  |  |  |  |  |
Mutual Fund | 376,998 |  |  | - |  |  | - |  |  | 376,998 |  |  | 376,998 |  |  | - |  |  | - |
Derivative financial instruments | 7,484 |  |  | - |  |  | - |  |  | 7,484 |  |  | - |  |  | 7,484 |  |  | - |
Other Investments Non-current | 1,005,300 |  |  | 140,292 |  |  | 857,959 |  |  | 7,049 |  |  | 857,959 |  |  | - |  |  | 7,049 |
Bonds and other fixed income | 857,959 |  |  | - |  |  | 857,959 |  |  | - |  |  | 857,959 |  |  | - |  |  | - |
Fixed income (time-deposit, zero coupon bonds, commercial papers) | 140,292 |  |  | 140,292 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Other investments | 7,049 |  |  | - |  |  | - |  |  | 7,049 |  |  | - |  |  | - |  |  | 7,049 |
Trade receivables | 1,907,507 |  |  | 1,907,507 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Receivables C and NC | 435,973 |  |  | 191,058 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Other receivables | 191,058 |  |  | 191,058 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Other receivables (non-financial) | 244,915 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Total |  |  |  | 3,281,397 |  |  | 2,131,632 |  |  | 746,575 |  |  | 2,863,674 |  |  | 7,484 |  |  | 7,049 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Borrowings C and NC | 437,398 |  |  | 437,398 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Trade payables | 880,261 |  |  | 880,261 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Other liabilities C and NC | 887,526 |  |  | 31,985 |  |  | - |  |  | 243,264 |  |  | - |  |  | - |  |  | 243,264 |
Other liabilities (*) | 275,249 |  |  | 31,985 |  |  | - |  |  | 243,264 |  |  | - |  |  | - |  |  | 243,264 |
Other liabilities (non-financial) | 612,277 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Lease Liabilities C and NC | 144,926 |  |  | 144,926 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Derivative financial instruments | 8,300 |  |  | - |  |  | - |  |  | 8,300 |  |  | - |  |  | 8,300 |  |  | - |
Total |  |  |  | 1,494,570 |  |  | - |  |  | 251,564 |  |  | - |  |  | 8,300 |  |  | 243,264 |
(*) Includes liability related to share buyback program. See note 35 to these Consolidated Financial Statements.
| 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 liabilties 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 35 to these Consolidated Financial Statements.
Disclosure of fair value measurement of assets [text block] |
| Year ended December 31, |
| 2024 |  |  | 2023 |
At the beginning of the year | 7,411 |  |  | 54,987 |
Decrease (*) | (185 | ) |  | (47,467 | )
Currency translation adjustment and others | (177 | ) |  | (109 | )
At the end of the year | 7,049 |  |  | 7,411 |
(*) For the year 2023, r elated to the sale of Venezuela awards. For more information see note 6.
Disclosure of fair value measurement of liabilities [text block] |
| Year ended December 31, |
| 2024 |  |  | 2023 |
At the beginning of the year | 86,240 |  |  | - |
Settlement of share buy back program liability | (86,240 | ) |  | - |
Increase in share buyback program liability | 243,264 |  |  | 86,240 |
At the end of the year | 243,264 |  |  | 86,240 |

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