v3.26.1
Note 2 - Cost of sales - Components of Cost of Sales (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Note 2 - Cost of sales      
Inventories at the beginning of the year $ 3,709,942 $ 3,921,097 $ 3,986,929
Changes in inventories due to business combinations 52,792 [1] 107,588 [2]
Decrease in inventory due to deconsolidation of subsidiaries (**) [3] 43
Plus: Charges of the year      
Raw materials, energy, consumables and other 4,425,441 4,638,681 5,277,507
Services and fees 367,532 408,478 437,804
Labor cost 1,411,608 1,454,924 1,403,546
Depreciation of property, plant and equipment 476,215 483,535 424,373
Amortization of intangible assets 13,602 12,193 11,582
Depreciation of right-of-use assets 37,844 34,332 30,352
Maintenance expenses 338,042 443,498 408,410
Allowance for obsolescence 53,700 41,240 13,581
Taxes 417,380 124,500 272,120
Other 211,539 230,161 216,220
Cost of sales including discontinued operations 7,752,860 7,924,334 8,603,083
Less: Inventories at the end of the year (3,602,058) (3,709,942) (3,921,097)
Cost of sales $ 7,860,744 $ 8,135,489 $ 8,668,915
[1] For the year 2024, related to Mattr’s pipe coating business unit acquisition.
[2] For the year 2023, related to the GPC, Isoplus anticorrosion coating division and Mattr’s pipe coating business unit acquisitions.
[3] For the year 2025, related to the deconsolidation of Amaja Tubular Services Limited.