Ternium S.A. | CIK:0001342874 | 3

  • Filed: 4/24/2018
  • Entity registrant name: Ternium S.A. (CIK: 0001342874)
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  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1342874/000134287418000009/0001342874-18-000009-index.htm
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    • ifrs-full:DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory

    The changes in deferred tax assets and liabilities (prior to offsetting the balances within the same tax jurisdiction) during the year are as follows:
    Deferred tax liabilities
     
    PP&E
     
    Inventories
     
    Intangible
    assets
     
    Other
     
    Total at December 31, 2017
     
     
     
     
     
     
     
     
     
     
     
    At the beginning of the year
     
    (625,963
    )
     
    (48,637
    )
     
    (28,050
    )
     
    (3,050
    )
     
    (705,700
    )
     
     
     
     
     
     
     
     
     
     
     
    Translation differences
     
    6,907

     
    (215
    )
     
    67

     
    (29
    )
     
    6,730

    Credits (Charges) directly to other comprehensive income
     
    —

     
    —

     
    —

     
    (108
    )
     
    (108
    )
    Withholding tax on dividend distributions
     
    —

     
    —

     
    —

     
    —

     
    —

    Effect of changes in tax law
     
    17,293

     
    185

     
    352

     
    11

     
    17,841

    Income statement credit (charge)
     
    61,924

     
    (8,339
    )
     
    8,939

     
    1,120

     
    63,644

     
     
     
     
     
     
     
     
     
     
     
    At the end of the year
     
    (539,839
    )
     
    (57,006
    )
     
    (18,692
    )
     
    (2,056
    )
     
    (617,593
    )
    Deferred tax assets
     
    Provisions
     
    Trade
    receivables
     
    Tax
    losses (1)
     
    Other
     
    Total at December 31, 2017
     
     
     
     
     
     
     
     
     
     
     
    At the beginning of the year
     
    53,188

     
    7,488

     
    56,297

     
    65,518

     
    182,491

     
     
     
     
     
     
     
     
     
     
     
    Translation differences
     
    (501
    )
     
    (273
    )
     
    —

     
    (7,008
    )
     
    (7,782
    )
    Acquisition of business (note 3)
     
    —

     
    —

     
    —

     
    13,686

     
    13,686

    Credits (Charges) directly to other comprehensive income
     
    —

     
    —

     
    —

     
    4,916

     
    4,916

    Effect of changes in tax law
     
    (2,692
    )
     
    (238
    )
     
    —

     
    (7,456
    )
     
    (10,386
    )
    Income statement credit (charge)
     
    11,106

     
    1,223

     
    (12,942
    )
     
    43,016

     
    42,403

     
     
     
     
     
     
     
     
     
     
     
    At the end of the year
     
    61,101

     
    8,200

     
    43,355

     
    112,672

     
    225,328

    (1) As of December 31, 2017, the recognized deferred tax assets on tax losses amount to USD 43,355 and there are net unrecognized deferred tax assets of USD 1.2 billion and unrecognized tax losses amounting to USD 1.9 billion. These two last effects are connected to the acquisition of Ternium Brasil (see note 3 (a)).
    Deferred tax liabilities
     
    PP&E
     
    Inventories
     
    Intangible
    assets
     
    Other
     
    Total at December 31, 2016
     
     
     
     
     
     
     
     
     
     
     
    At the beginning of the year
     
    (599,522
    )
     
    (52,723
    )
     
    (38,652
    )
     
    (10,387
    )
     
    (701,284
    )
     
     
     
     
     
     
     
     
     
     
     
    Translation differences
     
    5,634

     
    360

     
    169

     
    181

     
    6,344

    Charges directly to other comprehensive income
     
    —

     
    —

     
    —

     
    (192
    )
     
    (192
    )
    Withholding tax on dividend distributions
     
    —

     
    —

     
    —

     
    (2,690
    )
     
    (2,690
    )
    Effect of changes in tax law
     
    1,062

     
    (103
    )
     
    1,433

     
    6

     
    2,398

    Income statement credit (charge)
     
    (33,137
    )
     
    3,829

     
    9,000

     
    10,032

     
    (10,276
    )
     
     
     
     
     
     
     
     
     
     
     
    At the end of the year
     
    (625,963
    )
     
    (48,637
    )
     
    (28,050
    )
     
    (3,050
    )
     
    (705,700
    )
    Deferred tax assets
     
    Provisions
     
    Trade
    receivables
     
    Tax losses
    (2)
     
    Other
     
    Total at December 31, 2016
     
     
     
     
     
     
     
     
     
     
     
    At the beginning of the year
     
    45,368

     
    6,193

     
    67,784

     
    70,483

     
    189,828

     
     
     
     
     
     
     
     
     
     
     
    Translation differences
     
    (2,399
    )
     
    (289
    )
     
    —

     
    (305
    )
     
    (2,993
    )
    Charges directly to other comprehensive income
     
    —

     
    —

     
    —

     
    2,571

     
    2,571

    Effect of changes in tax law
     
    17

     
    (3
    )
     
    —

     
    (384
    )
     
    (370
    )
    Income statement credit (charge)
     
    10,202

     
    1,587

     
    (11,487
    )
     
    (6,847
    )
     
    (6,545
    )
     
     
     
     
     
     
     
     
     
     
     
    At the end of the year
     
    53,188

     
    7,488

     
    56,297

     
    65,518

     
    182,491

    (2) As of December 31, 2016, the recognized deferred tax assets on tax losses amount to USD 56,297 and there are no net unrecognized deferred tax assets