XML 106 R35.htm IDEA: XBRL DOCUMENT
v3.26.1

Note 23 - Other liabilities | 12 Months Ended
--- | ---
Dec. 31, 2025
Note 23 - Other liabilities |
Note 23 - Other liabilities | 23 Other liabilities (i) Other liabilities – Non-current
| Year ended December 31, |
| 2025 |  |  | 2024 |
Post-employment benefits | 141,440 |  |  | 131,564 |
Other long-term benefits | 103,705 |  |  | 101,260 |
Other liabilities with related parties | 4,383 |  |  | 2,084 |
Miscellaneous | 61,179 |  |  | 66,843 |
| 310,707 |  |  | 301,751 |
Post-employment benefits
| Year ended December 31, |
| 2025 |  |  | 2024 |
Unfunded | 140,532 |  |  | 129,032 |
Funded | 908 |  |  | 2,532 |
| 141,440 |  |  | 131,564 |
At December 31, 202 5 and 202 4 the weighted average duration of liabilities related to post-employment benefits was 7 years, respectively.
• | Unfunded
| Year ended December 31, |
| 2025 |  |  | 2024 |
Values at the beginning of the year | 129,032 |  |  | 112,532 |
Current service cost | 7,430 |  |  | 7,206 |
Interest cost | 10,409 |  |  | 14,692 |
Curtailments and settlements | (960 | ) |  | (131 | )
Remeasurements (*) | 5,129 |  |  | 7,506 |
Translation differences | (1,650 | ) |  | (6,865 | )
Benefits paid from the plan | (7,732 | ) |  | (8,345 | )
Other | (1,126 | ) |  | 2,437 |
At the end of the year | 140,532 |  |  | 129,032 |
(*) | For the year 20 2 5 a loss of $0.3 million is attributable to demographic assumption s and a loss of $4.8 million to financ ial assumptions.
| For the year 202 4 a loss of $1.6 million is attributable to demographic assumptions and a loss of $5.9 million to financial assumptions.
The actuarial assumptions for the most relevant plans were as follows:
| Year ended December 31, |
| 2025 |  |  | 2024 |
Discount rate | 4% - 7% |  |  | 3% - 8% |
Rate of compensation increase | 2% - 6% |  |  | 2% - 6% |
As o f December 31, 20 2 5, an increase / (decrease) of 1% in the discount rate assumption of the main plans would have generated a (decrease) / increase on the defined benefit obligation of $6.5 million and $7.3 million respectively, and an increase / (decrease) of 1% in the rate of compensation assumption of the main plans would have generated an increase / (decrease) impact on the defined benefit obligation of $4.7 million and $4.5 million respectivel y. The above sensitivity analyse s are based on a change in discount rate and rate of compensation while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions may be correlated.
• | Funded
The amounts recognized in the statement of financial position for the current annual period and the previous annual period are as follows:
| Year ended December 31, |
| 2025 |  |  | 2024 |
Present value of funded obligations | 14,652 |  |  | 91,698 |
Fair value of plan assets | (18,524 | ) |  | (102,653 | )
Asset (*) | (3,872 | ) |  | (10,955 | )
(*) | In 20 2 5 and 20 2 4, $4.8 million and $13.5 million corresponding to plans with surplus balance s that w ere reclassified to other receivables-non current respectively, consequently the net post-employment benefits funded exposed as liabilities amounted to $0.9 million and $2.5 million respectively.
The movement in the present value of funded obligations is as follows:
| Year ended December 31, |
| 2025 |  |  | 2024 |
At the beginning of the year | 91,698 |  |  | 123,234 |
Translation differences | 3,885 |  |  | (5,627 | )
Current service cost | 182 |  |  | 176 |
Interest cost | 3,874 |  |  | 5,424 |
Remeasurements (*) | 41 |  |  | (182 | )
Benefits paid | (6,198 | ) |  | (8,300 | )
Other (**) | (78,830 | ) |  | (23,027 | )
At the end of the year | 14,652 |  |  | 91,698 |
(*) | For the year 202 5 a loss of $0.7 million is attributable to demographic assumptions and a loss of $0.6 million to financial assumptions.
| For the year 202 4 a loss of $0.1 million is attributable to demographic assumptions and a loss of $0.1 million to financial assumptions.
(**) | For the year 2025, include s mainly pension plan terminations in the United States and Canada.
| For the year 2024, include s mainly pension plan terminations in Canada.
The movement in the fair value of plan assets is as follows:
| Year ended December 31, |
| 2025 |  |  | 2024 |
At the beginning of the year | (102,653 | ) |  | (134,052 | )
Translation differences | (4,070 | ) |  | 7,047 |
Return on plan assets | (4,406 | ) |  | (6,010 | )
Remeasurements | 1,255 |  |  | (302 | )
Contributions paid to the plan | (3,809 | ) |  | (1,269 | )
Benefits paid from the plan | 6,198 |  |  | 8,300 |
Other (*) | 88,961 |  |  | 23,633 |
At the end of the year | (18,524 | ) |  | (102,653 | )
(*) | For the year 2025, include s mainly pension plan terminations in the United States and Canada, including cash received from surplus assets in Canada.
| For the year 2024, include s mainly pension plan terminations in Canada.
The major categories of plan assets as a percentage of total plan assets are as follows:
| Year ended December 31, |
| 2025 |  |  | 2024 |
Equity instruments | 0% |  |  | 3% |
Debt instruments | 66% |  |  | 60% |
Others (*) | 34% |  |  | 37% |
(*) | For the years 2025 and 2024, includes assets held by insurance compan ies.
There are no unusual, entity-specific, or plan-specific risks in terms of the plan assets of funded pension plans. The actuarial assumptions for the most relevant plans were as follows:
| Year ended December 31, |
| 2025 |  |  | 2024 |
Discount rate | 4% - 6% |  |  | 5% - 6% |
Rate of compensation increase | 3% - 4% |  |  | 3% - 3% |
The expected return on plan assets is determined by considering the expected returns available on the assets underlying the current investment policy. Expected return on plan assets is determined based on long-term, prospective rates of return as of the end of the reporting period. As of December 31, 20 2 5, an increase / (decrease) of 1% in the discount rate assumption of the main plans would have generated a (decrease) / increase on the defined benefit obligation of $1.9 million and $2.4 million respectively, and an increase / (decrease) of 1% in the compensation rate assumption of the main plans would have generated an increase / (decrease) on the defined benefit obligation of $1.1 million and $1.0 million respectively. Th e above sensitivity analyse s are based on a change in discount rate and rate of compensation while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions may be correlated. The expected employer contributions for the year 202 6 are not material. The methods and types of assumptions used in p reparing the sensitivity analyse s did not change compared to the previous period. (ii) Other liabilities – C urrent
| Year ended December 31, |
| 2025 |  |  | 2024 |
Payroll and social security payable | 271,363 |  |  | 270,016 |
Shares to be settled under buyback program | 58,888 |  |  | 243,264 |
Miscellaneous | 46,837 |  |  | 72,495 |
At the end of the year | 377,088 |  |  | 585,775 |

X
- Definition The disclosure of other liabilities. [Refer: Other liabilities] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Note Expiry date 2027-01-01 -Name IAS -Number 1 -IssueDate 2025-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2025-en-b&anchor=para_10_e&doctype=Standard -URIDate 2025-03-27 + Details
Name: | ifrs-full_DisclosureOfOtherLiabilitiesExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-2022:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | ts_DisclosureOfOtherLiabilitiesAbstract
Namespace Prefix: | ts_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration