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Note 8 - Equity in earnings of non-consolidated companies
 12 Months Ended
Dec. 31, 2024
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,


 

2024



2023



2022


Earnings from non-consolidated companies

8,548



104,897



242,743


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

)

-


 

8,548



95,404



208,702


 

Earnings from non-consolidated companies: For the year ended December 31, 2024, includes a loss of approximately $43.3 million related to a provision for the ongoing litigation related to the acquisition of participation in Usiminas.

 

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.

 

Impairment loss on non-consolidated companies: For the year ended December 31, 2022, $19.1 million related to the investment in Usiminas and $14.9 million 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”.