Ternium S.A. | CIK:0001342874 | 3

  • Filed: 4/24/2018
  • Entity registrant name: Ternium S.A. (CIK: 0001342874)
  • Generator: Workiva (WebFilings)
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1342874/000134287418000009/0001342874-18-000009-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1342874/000134287418000009/tx-20171231.xml
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  • ifrs-full:DisclosureOfDetailedInformationAboutHedgingInstrumentsExplanatory

    The net fair values of the exchange rate derivative contracts as of December 31, 2017 and December 31, 2016 were as follows:
     
     
     
     
     
     
    Fair value at December 31,
    Currencies
     
    Contract
     
    Notional
    amount
     
    2017
     
    2016
     
     
     
     
     
     
     
     
     
    ARS/USD
     
    ND Forward - Buy ARS
     
    6.4 billion ARS
     
    (6,534
    )
     
    316

    ARS/USD
     
    ND Forward - Sell ARS
     
    187.0 million ARS
     
    533

     
    —

    COP/USD
     
    ND Forward - Sell COP
     
    65.7 billion COP
     
    17

     
    —

    EUR/USD
     
    ND Forward - Buy EUR
     
    39.0 million EUR
     
    224

     
    —

    BRL/USD
     
    ND Forward - Buy BRL
     
    67.2 million BRL
     
    1,514

     
    —

    BRL/USD
     
    ND Forward - Sell BRL
     
    61.1 million BRL
     
    247

     
    —

    EUR/USD
     
    ND Forward - Sell EUR
     
    5.3 million EUR
     
    —

     
    (30
    )
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    (3,999
    )
     
    286

    ARS: Argentine pesos; COP: Colombian pesos; EUR: Euros; USD: US dollars; BRL: Brazilian real.
    The net fair values of derivative financial instruments at December 31, 2017 and 2016 were as follows:
     
    As of December 31,
     
    2017
     
    2016
     
     
     
     
    Contracts with positive fair value
     
     
     
    Interest rate swap contracts
    302

     
    —

    Foreign exchange contracts
    2,002

     
    316

     
     
     
     
     
    2,304

     
    316

     
     
     
     
    Contracts with negative fair value
     
     
     
    Interest rate swap contracts
    —

     
    (257
    )
    Foreign exchange contracts
    (6,001
    )
     
    (30
    )
     
     
     
     
     
    (6,001
    )
     
    (287
    )
    Changes in fair value of derivative instruments designated as cash flow hedges for each of the years presented are included below:
     
    Cash flow hedges
     
    Gross amount
     
    Income tax
     
    Total
     
     
     
     
     
     
    At December 31, 2015
    (566
    )
     
    170

     
    (396
    )
     
     
     
     
     
     
    (Decrease) / Increase
    (179
    )
     
    54

     
    (125
    )
    Reclassification to income statement
    820

     
    (246
    )
     
    574

     
     
     
     
     
     
    At December 31, 2016
    75

     
    (22
    )
     
    53

     
     
     
     
     
     
    (Decrease) / Increase
    363

     
    3

     
    366

    Reclassification to income statement
    372

     
    (110
    )
     
    262

     
     
     
     
     
     
    At December 31, 2017
    810

     
    (129
    )
     
    681