TENARIS SA | CIK:0001190723 | 3

  • Filed: 4/30/2018
  • Entity registrant name: TENARIS SA (CIK: 0001190723)
  • Generator: Thunderdome
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1190723/000117184318003182/0001171843-18-003182-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1190723/000117184318003182/ts-20171231.xml
  • XBRL Cloud Viewer: Click to open XBRL Cloud Viewer
  • EDGAR Dashboard: https://edgardashboard.xbrlcloud.com/edgar-dashboard/?cik=0001190723
  • Open this page in separate window: Click

    • ifrs-full:DisclosureOfDeferredTaxesExplanatory

    20
    Deferred income tax
     
    Deferred income taxes are calculated in full on temporary differences under the liability method using the tax rate of each country.
     
    The evolution of deferred tax assets and liabilities during the year are as follows:
     
    Deferred tax liabilities
     
        Fixed assets     Inventories     Intangible and Other (*)     Total  
    At the beginning of the year    
    263,056
    		      
    36,891
    		      
    514,713
    		      
    814,660
    		  
    Translation differences    
    2,243
    		      
    (2
    		 )    
    21
    		      
    2,262
    		  
    Charged directly to other comprehensive income    
    -
    		      
    -
    		      
    (583
    		 )    
    (583
    		 )
    Income statement credit (charge)    
    207,605
    		      
    (1,955
    		 )    
    (186,544
    		 )    
    19,106
    		  
    At December 31, 2017    
    472,904
    		      
    34,934
    		      
    327,607
    		      
    835,445
    		  
     
     
        Fixed assets     Inventories     Intangible and Other (*)     Total  
    At the beginning of the year    
    299,139
    		      
    42,516
    		      
    549,557
    		      
    891,212
    		  
    Translation differences    
    (540
    		 )    
    -
    		      
    44
    		      
    (496
    		 )
    Charged directly to other comprehensive income    
    -
    		      
    -
    		      
    (40
    		 )    
    (40
    		 )
    Transfer to assets held for sale    
    (5,724
    		 )    
    -
    		      
    -
    		      
    (5,724
    		 )
    Income statement charge    
    (29,819
    		 )    
    (5,625
    		 )    
    (34,848
    		 )    
    (70,292
    		 )
    At December 31, 2016    
    263,056
    		      
    36,891
    		      
    514,713
    		      
    814,660
    		  
     
    (*) Includes the effect of currency translation on tax base (see Note
    8
    ).
     
    Deferred tax assets
        Provisions and allowances     Inventories     Tax losses (*)     Other     Total  
    At the beginning of the year    
    (33,276
    		 )    
    (94,176
    		 )    
    (199,326
    		 )    
    (81,838
    		 )    
    (408,616
    		 )
    Translation differences    
    (223
    		 )    
    (972
    		 )    
    322
    		      
    (606
    		 )    
    (1,479
    		 )
    Charged directly to other comprehensive income    
    -
    		      
    -
    		      
    -
    		      
    (778
    		 )    
    (778
    		 )
    Income statement charge / (credit)    
    7,024
    		      
    5,593
    		      
    (155,940
    		 )    
    23,189
    		      
    (120,134
    		 )
    At December 31, 2017    
    (26,475
    		 )    
    (89,555
    		 )    
    (354,944
    		 )    
    (60,033
    		 )    
    (531,007
    		 )
     
    (*) As of
    December 31, 2017,
    the net unrecognized deferred tax assets amount to
    $98.8
    million.
     
        Provisions and allowances     Inventories     Tax losses     Other     Total  
    At the beginning of the year    
    (32,425
    		 )    
    (107,378
    		 )    
    (99,394
    		 )    
    (102,396
    		 )    
    (341,593
    		 )
    Translation differences    
    (3,123
    		 )    
    (1,347
    		 )    
    (2,741
    		 )    
    14
    		      
    (7,197
    		 )
    Transfer to assets held for sale    
    -
    		      
    275
    		      
    -
    		      
    753
    		      
    1,028
    		  
    Charged directly to other comprehensive income    
    -
    		      
    -
    		      
    -
    		      
    1,823
    		      
    1,823
    		  
    Income statement charge / (credit)    
    2,272
    		      
    14,274
    		      
    (97,191
    		 )    
    17,968
    		      
    (62,677
    		 )
    At December 31, 2016    
    (33,276
    		 )    
    (94,176
    		 )    
    (199,326
    		 )    
    (81,838
    		 )    
    (408,616
    		 )
     
    The recovery analysis of deferred tax assets and deferred tax liabilities is as follows:
     
        Year ended December 31,  
        2017     2016  
    Deferred tax assets to be recovered after 12 months    
    (405,416
    		 )    
    (226,431
    		 )
    Deferred tax liabilities to be recovered after 12 months    
    808,108
    		      
    761,039
    		  
     
    Deferred income tax assets and liabilities are offset when (
    1
    ) there is a legally enforceable right to set-off current tax assets against current tax liabilities and (
    2
    ) when the deferred income taxes relate to the same fiscal authority on either the same taxable entity or different taxable entities where there is an intention to settle the balances on a net basis. The following amounts, determined after appropriate set-off, are shown in the Consolidated Statement of Financial Position:
     
        Year ended December 31,  
        2017     2016  
    Deferred tax assets    
    (153,532
    		 )    
    (144,613
    		 )
    Deferred tax liabilities    
    457,970
    		      
    550,657
    		  
         
    304,438
    		      
    406,044
    		  
     
    The movement in the net deferred income tax liability account is as follows:
     
        Year ended December 31,  
        2017     2016  
           
    At the beginning of the year    
    406,044
    		      
    549,619
    		  
    Translation differences    
    783
    		      
    (7,693
    		 )
    Charged directly to Other Comprehensive Income    
    (1,361
    		 )    
    1,783
    		  
    Income statement credit    
    (101,028
    		 )    
    (132,969
    		 )
    Transfer to assets held for sale    
    -
    		      
    (4,696
    		 )
    At the end of the year    
    304,438
    		      
    406,044