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