v3.26.1
Consolidated Statements of Changes in Equity - USD ($)
$ in Thousands
Total
Usiminas
Equity attributable to owners of parent [member]
Capital stock
Treasury shares
Initial public offering expenses
Reserves
Capital stock issue discount
Currency translation adjustment
Retained earnings
Non-controlling interest
Non-controlling interest
Usiminas
Beginning balance at Dec. 31, 2022 $ 13,768,393   $ 11,845,959 $ 2,004,743 [1] $ (150,000) [1] $ (23,295) $ 1,394,567 [2] $ (2,324,866) [3] $ (2,859,068) $ 13,803,878 $ 1,922,434  
Changes in equity [abstract]                        
Profit for the year 986,374   676,043             676,043 310,331  
Other comprehensive income (loss) for the period                        
Currency translation adjustment [4] 971,776   895,241           895,241   76,535  
Remeasurement of post employment benefit obligations (41,285)   (24,904)       (24,904) [2]       (16,381)  
Cash flow hedges and others, net of tax 15,897   14,188       14,188 [2]       1,709  
Others [5] (601,896)   (418,640)       (418,640) [2]       (183,256)  
Total comprehensive income (loss) for the year 1,330,866   1,141,928 0 [1] 0 [1] 0 (429,356) [2] 0 [3] 895,241 676,043 188,938  
Dividends paid in cash [6] (569,292)   (569,292)             (569,292)    
Dividends paid in cash to non-controlling interest (294,003)                   (294,003)  
Effects related to the increase of the participation in Usiminas [7]   $ 2,575,895                   $ 2,575,895
Ending balance at Dec. 31, 2023 16,811,859   12,418,595 2,004,743 [1],[8] (150,000) [1],[8] (23,295) 965,211 [9] (2,324,866) [10] (1,963,827) 13,910,629 4,393,264  
Changes in equity [abstract]                        
Profit for the year 173,781   (53,672)             (53,672) 227,453  
Other comprehensive income (loss) for the period                        
Currency translation adjustment (823,783)   (165,724)           (165,724)   (658,059)  
Remeasurement of post employment benefit obligations 7,111   (12,933)       (12,933) [9]       20,044  
Cash flow hedges and others, net of tax (53,192)   (47,051)       (47,051) [9]       (6,141)  
Others [11] 630,982   437,525       437,525 [9]       193,457  
Total comprehensive income (loss) for the year (65,101)   158,145 0 [8] 0 [8] 0 377,541 [9] 0 [10] (165,724) (53,672) (223,246)  
Dividends paid in cash [12] (608,554)   (608,554)             (608,554)    
Dividends paid in cash to non-controlling interest (6,635)                   (6,635)  
Ending balance at Dec. 31, 2024 16,131,569   11,968,186 2,004,743 [8],[13] (150,000) [8],[13] (23,295) 1,342,752 [9],[14] (2,324,866) [15] (2,129,551) 13,248,403 4,163,383  
Changes in equity [abstract]                        
Profit for the year 303,095   425,232             425,232 (122,137)  
Other comprehensive income (loss) for the period                        
Currency translation adjustment 402,386   82,861           82,861   319,525  
Remeasurement of post employment benefit obligations (32,315)   (29,655)       (29,655) [14]       (2,660)  
Cash flow hedges and others, net of tax 78,387   69,557       69,557 [14]       8,830  
Others [16] (67,472)   (41,850)       (41,850) [14]       (25,622)  
Total comprehensive income (loss) for the year 684,081   506,145 0 [13] 0 [13] 0 (1,948) [14] 0 [15] 82,861 425,232 177,936  
Dividends paid in cash [17] (530,031)   (530,031)             (530,031)    
Dividends paid in cash to non-controlling interest (15,304)                   (15,304)  
Dividends paid in kind to non-controlling interest (112,278)                   (112,278)  
Repayment of additional paid in capital [18] (10,291)                   (10,291)  
Ending balance at Dec. 31, 2025 $ 16,147,746   $ 11,944,300 $ 2,004,743 [13] $ (150,000) [13] $ (23,295) $ 1,340,804 [14] $ (2,324,866) [15] $ (2,046,690) $ 13,143,604 $ 4,203,446  
[1] The Company has an authorized share capital of a single class of 3.5 billion shares having a nominal value of $1.00 per share. As of December 31, 2023, there were 2,004,743,442 shares issued. All issued shares are fully paid. Also, as of December 31, 2023, the Company held 41,666,666 shares as treasury shares.
[2] Include mainly legal reserve under Luxembourg law for $200.5 million, undistributable reserves under Luxembourg law for $1.4 billion and reserves related to the acquisition of non-controlling interest in subsidiaries for $(72.4) million.
[3] Represents the difference between book value of non-monetary contributions received from shareholders under Luxembourg GAAP and IFRS.
[4] See note 3 (c).
[5] Includes mainly the changes of the fair value of financial instruments at fair value through other comprehensive income, net of tax.
[6] Represents $0.29 per share ($2.90 per ADS). Related to the dividends distributed on May 2 and on October 31, 2023, and as 41,666,666 shares are held as treasury shares by Ternium, the dividends attributable to these treasury shares amounting to $12.1 million were included in equity as deduction of dividend paid.
[7] See note 3 (f).
[8] The Company has an authorized share capital of a single class of 3.5 billion shares having a nominal value of $1.00 per share. As of December 31, 2024, there were 2,004,743,442 shares issued. All issued shares are fully paid. Also, as of December 31, 2024, the Company held 41,666,666 shares as treasury shares.
[9] Include mainly legal reserve under Luxembourg law for $200.5 million, undistributable reserves under Luxembourg law for $1.4 billion and reserves related to the acquisition of non-controlling interest in subsidiaries for $(72.4) million.
[10] Represents the difference between book value of non-monetary contributions received from shareholders under Luxembourg GAAP and IFRS.
[11] Includes mainly the changes of the fair value of financial instruments at fair value through other comprehensive income, net of tax.
[12] Represents $0.31 per share ($3.10 per ADS). Related to the dividends distributed on May 8 and on November 21, 2024, and as 41,666,666 shares are held as treasury shares by Ternium, the dividends attributable to these treasury shares amounting to $12.9 million were included in equity as deduction of dividend paid.
[13] The Company has an authorized share capital of a single class of 3.5 billion shares having a nominal value of $1.00 per share. As of December 31, 2025, there were 2,004,743,442 shares issued. All issued shares are fully paid. Also, as of December 31, 2025, the Company held 41,666,666 shares as treasury shares.
[14] Include mainly legal reserve under Luxembourg law for $200.5 million, undistributable reserves under Luxembourg law for $1.4 billion, and reserves related to the acquisition of non-controlling interest in subsidiaries for $(72.4) million.
[15] Represents the difference between book value of non-monetary contributions received from shareholders under Luxembourg GAAP and IFRS.
[16] Includes mainly the changes of the fair value of financial instruments at fair value through other comprehensive income, net of tax. See note 18.
[17] Represents $0.27 per share ($2.70 per ADS). Related to the dividends distributed on May 14 and on November 12, 2025, and as 41,666,666 shares are held as treasury shares by Ternium, the dividends attributable to these treasury shares amounting to $11.2 million were included in equity as deduction of dividend paid.
[18] It corresponds to the agreement in connection with the repayment of the additional paid in capital from Tenigal S. de R.L. de C.V. to the non-controlling interest as per the shareholders’ agreement signed on June 25, 2025. The shareholders agreed to the repayment of the total amount of the additional paid in capital of $63 million in the upcoming three years, starting in June 2025.