Ternium (TX) 20-F 9 Apr 20 2019 FY Annual report (foreign) Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION	12 Months Ended
	Dec. 31, 2019shares
Document Information [Abstract]
Entity Registrant Name	TERNIUM S.A..
Entity Central Index Key	0001342874
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	20-F
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding	2,004,743,442
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Shell Company	false

Consolidated Income Statements

Consolidated Income Statements - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Profit or loss [abstract]
Net sales	$ 10,192,818	$ 11,454,807	$ 9,700,296
Cost of sales	(8,452,440)	(8,483,328)	(7,403,025)
Gross profit	1,740,378	2,971,479	2,297,271
Selling, general and administrative expenses	(897,475)	(876,764)	(824,247)
Other operating income (expenses), net	21,663	13,656	(16,240)
Profit (loss) from operating activities	864,566	2,108,371	1,456,784
Finance expense	(88,284)	(131,172)	(114,583)
Finance income	29,071	21,236	19,408
Other financial income (expenses), net	(39,756)	(69,640)	(69,915)
Equity in earnings of non-consolidated companies	60,967	102,772	68,115
Profit before income tax expense	826,564	2,031,567	1,359,809
Income tax expense	(196,519)	(369,435)	(336,882)
Profit for the year	630,045	1,662,132	1,022,927
Attributable to:
Owners of the parent	564,269	1,506,647	886,219
Non-controlling interest	$ 65,776	$ 155,485	$ 136,708
Weighted average number of shares outstanding (in shares)	1,963,076,776	1,963,076,776	1,963,076,776
Basic and diluted (losses) earnings per share for profit attributable to the owners of the parent (expressed in $ per share)	$ 0.29	$ 0.77	$ 0.45

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of comprehensive income [abstract]
Profit for the year	$ 630,045	$ 1,662,132	$ 1,022,927
Items that may be reclassified subsequently to profit or loss:
Currency translation adjustment	(41,455)	(376,220)	(95,462)
Currency translation adjustment from participation in non-consolidated companies	(20,470)	(73,761)	(8,931)
Changes in the fair value of financial instruments at fair value through other comprehensive income	(877)	(1,036)	0
Income tax related to financial instruments at fair value	0	122	0
Changes in the fair value of derivatives classified as cash flow hedges	(750)	(132)	735
Income tax relating to cash flow hedges	225	(73)	(107)
Other comprehensive income items	669	(897)	(96)
Other comprehensive income items from participation in non-consolidated companies	6	499	191
Items that will not be reclassified subsequently to profit or loss:
Remeasurement of post employment benefit obligations	(67,601)	(38,263)	(15,068)
Income tax relating to remeasurement of post employment benefit obligations	19,312	9,259	4,916
Remeasurement of post employment benefit obligations from participation in non-consolidated companies	(18,918)	(3,780)	3,954
Other comprehensive loss for the year, net of tax	(129,859)	(484,282)	(109,868)
Total comprehensive income for the year	500,186	1,177,850	913,059
Attributable to:
Owners of the parent	445,473	1,176,964	815,434
Non-controlling interest	$ 54,713	$ 886	$ 97,625

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($) $ in Thousands		Dec. 31, 2019	Dec. 31, 2018
Non-current assets
Property, plant and equipment, net		$ 6,539,581	$ 5,817,609
Intangible assets, net		943,838	1,012,524
Investments in non-consolidated companies		513,648	495,241
Other investments		3,253	7,195
Derivative financial instruments		0	818
Deferred tax assets		163,538	134,224
Receivables, net		592,565	649,447
Trade receivables, net		897	4,766
Non-current assets		8,757,320	8,121,824
Current assets
Receivables, net		334,713	309,750
Derivative financial instruments		1,196	770
Inventories, net		2,158,298	2,689,829
Trade receivables, net		949,672	1,128,470
Other investments		212,271	44,529
Cash and cash equivalents	[1]	519,965	250,541
Current assets other than non-current assets or disposal groups classified as held for sale or as held for distribution to owners		4,176,115	4,423,889
Non-current assets classified as held for sale		2,098	2,149
Current assets		4,178,213	4,426,038
Total Assets		12,935,533	12,547,862
EQUITY
Capital and reserves attributable to the owners of the parent		6,611,665	6,393,255
Non-controlling interest		1,103,208	1,091,321
Total Equity		7,714,873	7,484,576
Non-current liabilities
Provisions		613,352	643,950
Deferred tax liabilities		403,278	474,431
Other liabilities		507,603	414,541
Trade payables		1,174	935
Derivative financial instruments		17	0
Lease liabilities		298,219	65,798
Borrowings		1,628,892	1,637,101
Non-current liabilities		3,452,535	3,236,756
Current liabilities
Current income tax liabilities		47,053	150,276
Other liabilities		240,934	351,216
Trade payables		876,803	904,171
Derivative financial instruments		3,007	12,981
Lease liabilities		40,546	8,030
Borrowings		559,782	399,856
Current liabilities		1,768,125	1,826,530
Total Liabilities		5,220,660	5,063,286
Total Equity and Liabilities		$ 12,935,533	$ 12,547,862
[1]	It includes restricted cash of $69, $2,216 and $50 as of December 31, 2019, 2018 and 2017, respectively. In addition, the Company had other investments with a maturity of more than three months for $212,271, $44,529 and $135,864 as of December 31, 2019, 2018 and 2017, respectively.

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands		Total	Capital stock		Treasury shares		Initial public offering expenses		Reserves		Capital stock issue discount		Currency translation adjustment		Retained earnings		Total		Non-controlling interest	Acquisition reserve
Beginning balance at Dec. 31, 2016		$ 5,166,593	$ 2,004,743	[1],[2]	$ (150,000)	[1],[2]	$ (23,295)	[1]	$ 1,420,171	[1],[3]	$ (2,324,866)	[1],[4]	$ (2,336,929)	[1]	$ 5,801,474	[1]	$ 4,391,298	[1]	$ 775,295
Changes in equity [abstract]
Profit for the year		1,022,927													886,219	[1]	886,219	[1]	136,708
Other comprehensive income (loss) for the year
Currency translation adjustment		(104,393)											(66,735)	[1]			(66,735)	[1]	(37,658)
Remeasurement of post employment benefit obligations		(6,198)							(4,642)	[1],[3]							(4,642)	[1]	(1,556)
Cash flow hedges and others, net of tax		628							504	[1],[3]							504	[1]	124
Others		95							88	[1],[3]							88	[1]	7
Total comprehensive income for the year		913,059							(4,050)	[1],[3]			(66,735)	[1]	886,219	[1]	815,434	[1]	97,625
Dividends paid in cash	[5]	(196,308)													(196,308)	[1]	(196,308)	[1]	0
Dividends paid in cash to non-controlling interest	[6]	(30,573)																	(30,573)
Ending balance at Dec. 31, 2017		$ 5,852,771	2,004,743	[1],[2],[7],[8]	$ (150,000)	[1],[2],[7],[8]	(23,295)	[1],[7]	1,416,121	[1],[3],[7],[9]	(2,324,866)	[1],[4],[7],[10]	(2,403,664)	[1],[7]	6,491,385	[1],[7]	5,010,424	[1],[7]	842,347
Other comprehensive income (loss) for the year
Dividends paid, per share (in dollars per share)		$ 0.10
Dividends paid, USD per ADS (in dollars per share)		$ 1
Dividends not paid on Treasury Shares		$ 4,200
Number of shares authorised (in shares)		3,500,000,000
Par value per share (in dollars per share)		$ 1
Number of shares issued (in shares)		2,004,743,442
Number of shares in entity held by entity or by its subsidiaries or associates					41,666,666
Legal reserve		$ 200,500
Undistributed reserve		1,400,000
Reserve of cash flow hedges, net of tax		600
Other reserves																				$ (88,500)
Profit for the year		1,662,132													1,506,647	[7]	1,506,647	[7]	155,485
Currency translation adjustment		(449,981)											(298,813)	[7]			(298,813)	[7]	(151,168)
Remeasurement of post employment benefit obligations		(32,784)							(29,418)	[7],[9]							(29,418)	[7]	(3,366)
Cash flow hedges and others, net of tax		(205)							(288)	[7],[9]							(288)	[7]	83
Others		(1,312)							(1,164)	[7],[9]							(1,164)	[7]	(148)
Total comprehensive income for the year		1,177,850							(30,870)	[7],[9]	0	[7],[10]	(298,813)	[7]	1,506,647	[7]	1,176,964	[7]	886
Dividends paid in cash	[11]	(215,938)													(215,938)	[7]	(215,938)	[7]	0
Dividends paid in cash to non-controlling interest	[12]	(20,940)																	(20,940)
Ending balance at Dec. 31, 2018		$ 7,484,576	2,004,743	[7],[8],[13],[14]	$ (150,000)	[7],[8],[13],[14]	(23,295)	[7],[13]	1,385,701	[7],[9],[13],[15]	(2,324,866)	[7],[10],[13],[16]	(2,702,477)	[7],[13]	8,203,449	[7],[13]	6,393,255	[7],[13]	1,091,321
Other comprehensive income (loss) for the year
Dividends paid, per share (in dollars per share)		$ 0.11
Dividends paid, USD per ADS (in dollars per share)		$ 1.10
Dividends not paid on Treasury Shares		$ 4,600
Number of shares authorised (in shares)		3,500,000,000
Par value per share (in dollars per share)		$ 1
Number of shares issued (in shares)		2,004,743,442
Number of shares in entity held by entity or by its subsidiaries or associates					41,666,666
Legal reserve		$ 200,500
Undistributed reserve		1,400,000
Reserve of cash flow hedges, net of tax		500
Other reserves																				(88,500)
Profit for the year		630,045													564,269	[13]	564,269	[13]	65,776
Currency translation adjustment		(61,925)											(57,569)	[13]			(57,569)	[13]	(4,356)
Remeasurement of post employment benefit obligations		(67,207)							(60,730)	[13],[15]							(60,730)	[13]	(6,477)
Cash flow hedges and others, net of tax		(525)							(268)	[13],[15]							(268)	[13]	(257)
Others		(202)							(229)	[13],[15]							(229)	[13]	27
Total comprehensive income for the year		500,186							(61,227)	[13],[15]			(57,569)	[13]	564,269	[13]	445,473	[13]	54,713
Dividends paid in cash	[17]	(235,569)													(235,569)	[13]	(235,569)	[13]	0
Dividends paid in cash to non-controlling interest	[18]	(28,530)																	(28,530)
Acquisition of non-controlling interest	[19]	(5,790)							8,506	[13],[15]							8,506	[13]	(14,296)
Ending balance at Dec. 31, 2019		$ 7,714,873	$ 2,004,743	[13],[14]	$ (150,000)	[13],[14]	$ (23,295)	[13]	$ 1,332,980	[13],[15]	$ (2,324,866)	[13],[16]	$ (2,760,046)	[13]	$ 8,532,149	[13]	$ 6,611,665	[13]	$ 1,103,208
Other comprehensive income (loss) for the year
Dividends paid, per share (in dollars per share)		$ 0.12
Dividends paid, USD per ADS (in dollars per share)		$ 1.12
Dividends not paid on Treasury Shares		$ 5,000
Number of shares authorised (in shares)		3,500,000,000
Par value per share (in dollars per share)		$ 1
Number of shares issued (in shares)		2,004,743,442
Number of shares in entity held by entity or by its subsidiaries or associates					41,666,666
Legal reserve		$ 200,500
Undistributed reserve		1,400,000
Reserve of cash flow hedges, net of tax		$ (100)
Other reserves																				$ (80,000)
[1]	Shareholders’ equity is determined in accordance with accounting principles generally accepted in Luxembourg.
[2]	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, 2017, there were 2,004,743,442 shares issued. All issued shares are fully paid. Also, as of December 31, 2017, the Company held 41,666,666 shares as treasury shares.
[3]	Include mainly legal reserve under Luxembourg law for $200.5 million, undistributable reserves under Luxembourg law for $1.4 billion, hedge accounting reserve, net of tax effect, for $0.6 million and reserves related to the acquisition of non-controlling interest in subsidiaries for $(88.5) million.
[4]	Represents the difference between book value of non-monetary contributions received from shareholders under Luxembourg GAAP and IFRS.
[5]	Represents $0.10 per share ($1.00 per ADS). Related to the dividends distributed on May 3, 2017, and as 41,666,666 shares are held as treasury shares by Ternium, the dividends attributable to these treasury shares amounting to $4.2 million were included in equity as less dividend paid.
[6]	Corresponds to the dividends paid by Ternium Argentina S.A.
[7]	Shareholders’ equity is determined in accordance with accounting principles generally accepted in Luxembourg.
[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, 2018, there were 2,004,743,442 shares issued. All issued shares are fully paid. Also, as of December 31, 2018, 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, hedge accounting reserve, net of tax effect, for $0.5 million and reserves related to the acquisition of non-controlling interest in subsidiaries for $(88.5) million.
[10]	Represents the difference between book value of non-monetary contributions received from shareholders under Luxembourg GAAP and IFRS.
[11]	Represents $0.11 per share ($1.10 per ADS). Related to the dividends distributed on May 2, 2018, and as 41,666,666 shares are held as treasury shares by Ternium, the dividends attributable to these treasury shares amounting to $4.6 million were included in equity as less dividend paid.
[12]	Corresponds to the dividends paid by Ternium Argentina S.A.
[13]	Shareholders’ equity determined in accordance with accounting principles generally accepted in Luxembourg is disclosed in Note 25 (iii).
[14]	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, 2019, there were 2,004,743,442 shares issued. All issued shares are fully paid. Also, as of December 31, 2019, the Company held 41,666,666 shares as treasury shares.
[15]	Include mainly legal reserve under Luxembourg law for $200.5 million, undistributable reserves under Luxembourg law for $1.4 billion, hedge accounting reserve, net of tax effect, for $(0.1) million and reserves related to the acquisition of non-controlling interest in subsidiaries for $(80.0) million.
[16]	Represents the difference between book value of non-monetary contributions received from shareholders under Luxembourg GAAP and IFRS.
[17]	Represents $0.12 per share ($1.12 per ADS). Related to the dividends distributed on May 6, 2019, and as 41,666,666 shares are held as treasury shares by Ternium, the dividends attributable to these treasury shares amounting to $5.0 million were included in equity as less dividend paid.
[18]	Corresponds to the dividends paid by Ternium Argentina S.A.
[19]	Corresponds to the acquisition of non-controlling interest participation of Ternium Argentina S.A..

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2019		Dec. 31, 2018		Dec. 31, 2017
Cash flows from operating activities
Profit for the year		$ 630,045		$ 1,662,132		$ 1,022,927
Adjustments for:
Depreciation and amortization		661,112		589,299		474,299
Income tax accruals less payments		(208,805)		(154,366)		(273,443)
Equity in earnings of non-consolidated companies		(60,967)		(102,772)		(68,115)
Interest accruals less payments		3,405		(13,014)		19,484
Changes in provisions		(1,544)		(7,659)		2,783
Changes in working capital	[1]	572,684		(228,577)		(864,970)
Net foreign exchange results and others		51,689		(5,778)		70,894
Net cash provided by operating activities		1,647,619		1,739,265		383,859
Cash flows from investing activities
Capital expenditures		(1,052,252)		(520,250)		(409,402)
Recovery/(Loans) to non-consolidated companies		24,480
Recovery/(Loans) to non-consolidated companies				(24,480)		(23,904)
(Increase)/Decrease in other investments		(163,800)		86,857		14,986
Proceeds from the sale of property, plant and equipment		788		861		1,124
Dividends received from non-consolidated companies		0		0		65
Acquisition of business, Purchase consideration		0		0		(1,890,989)
Acquisition of business, Cash acquired		0		0		278,162
Acquisition of non-controlling interest		(5,790)		0		0
Net cash used in investing activities		(1,196,574)		(457,012)		(2,029,958)
Cash flows from financing activities
Dividends paid in cash to company’s shareholders		(235,569)		(215,938)		(196,308)
Dividends paid in cash to non-controlling interests		(28,530)		(20,940)		(30,573)
Finance Lease payments		(38,569)		(7,565)		(4,157)
Proceeds from borrowings		1,529,766		1,188,731		3,239,121
Repayments of borrowings		(1,377,605)		(2,266,560)		(1,205,827)
Net cash (used in) provided by financing activities		(150,507)		(1,322,272)		1,802,256
Increase (Decrease) in cash and cash equivalents		300,538		(40,019)		156,157
Movement in cash and cash equivalents
Beginning of period		250,541	[2]	337,779	[2]	183,463
Effect of exchange rate changes		(31,114)		(47,219)		(1,841)
End of period	[2]	519,965		250,541		337,779
Non- Cash transactions:
Acquisition of PP&E under lease contract agreements		21,963		73,828		0
Non-cash items impacting working capital		(6,300)		(74,500)		(70,000)
Restricted cash		69		2,216		50
Other deposits with maturity of more than three months		$ 212,271		$ 44,529		$ 135,864
[1]	The working capital is impacted by non-cash movement of $(6.3) million as of December 31, 2019 $(74.5) million and $(70.0) million as of December 31, 2018 and 2017, respectively) due to the variations in the exchange rates used by subsidiaries with functional currencies different from the U.S. dollar.
[2]	It includes restricted cash of $69, $2,216 and $50 as of December 31, 2019, 2018 and 2017, respectively. In addition, the Company had other investments with a maturity of more than three months for $212,271, $44,529 and $135,864 as of December 31, 2019, 2018 and 2017, respectively.

GENERAL INFORMATION

GENERAL INFORMATION	12 Months Ended
	Dec. 31, 2019
Disclosure of general information about financial statements [Abstract]
GENERAL INFORMATION	1. GENERAL INFORMATION Ternium S.A. (the “Company” or “Ternium”), was incorporated on December 22, 2003 to hold investments in flat and long steel manufacturing and distributing companies. 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, 2019 , there were 2,004,743,442 shares issued. All issued shares are fully paid. Ternium’s American Depositary Shares ("ADSs") trade on the New York Stock Exchange under the symbol “TX”. The Company was initially established as a public limited liability company (société anonyme) under Luxembourg’s 1929 holding company regime. Until termination of such regime on December 31, 2010, holding companies incorporated under the 1929 regime (including the Company) were exempt from Luxembourg corporate and withholding tax over dividends distributed to shareholders. On January 1, 2011, the Company became an ordinary public limited liability company (société anonyme) and, effective as from that date, the Company is subject to all applicable Luxembourg taxes (including, among others, corporate income tax on its worldwide income) and its dividend distributions will generally be subject to Luxembourg withholding tax. However, dividends received by the Company from subsidiaries in high income tax jurisdictions, as defined under Luxembourg law, will continue to be exempt from corporate income tax in Luxembourg under Luxembourg’s participation exemption. As part of the Company’s corporate reorganization in connection with the termination of Luxembourg’s 1929 holding company regime, on December 6, 2010, the Company contributed its equity holdings in all its subsidiaries and all its financial assets to its Luxembourg wholly-owned subsidiary Ternium Investments S.à.r.l., or Ternium Investments, in exchange for newly issued corporate units of Ternium Investments. As the assets contributed were recorded at their historical carrying amount in accordance with Luxembourg GAAP, the Company’s December 2010 contribution of such assets to Ternium Investments resulted in a non-taxable revaluation of the accounting value of the Company’s assets under Luxembourg GAAP. The amount of the December 2010 revaluation was equal to the difference between the historical carrying amounts of the assets contributed and the value at which such assets were contributed and amounted to $ 4.0 billion . However, for the purpose of these consolidated financial statements, the assets contributed by Ternium to its wholly-owned subsidiary Ternium Investments were recorded based on their historical carrying amounts in accordance with IFRS, with no impact on the financial statements. 1. GENERAL INFORMATION (continued) Following the completion of the corporate reorganization, and upon its conversion into an ordinary Luxembourg holding company, the Company voluntarily recorded a special reserve exclusively for tax-basis purposes. As of December 31, 2019 and 2018 , this special tax reserve amounted to $ 6.3 billion and $ 6.6 billion , respectively. The Company expects that, as a result of its corporate reorganization, its current overall tax burden will not increase, as all or substantially all of its dividend income will come from high income tax jurisdictions.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	12 Months Ended
	Dec. 31, 2019
Disclosure of notes and other explanatory information [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION a) Basis of presentation These consolidated financial statements have been prepared in accordance with IFRS (International Financial Reporting Standards) issued and effective or issued and early adopted as at the time of preparing these statements (February 2020), as issued by the International Accounting Standards Board and in conformity with International Financial Reporting Standards as adopted by the European Union (“EU”). These consolidated financial statements are presented in thousands of United States dollars (“$”), except otherwise indicated. These Consolidated financial statements fairly present the consolidated equity and consolidated financial situation of Ternium as of December 31, 2019 , and the consolidated results of its operations, the Changes in the Consolidated Statement of Comprehensive Income, the Changes in Consolidated Net Equity and the Consolidated Cash Flows of Ternium for the year then ended. Elimination of all material intercompany transactions and balances between the Company and their respective subsidiaries has been made in consolidation. These consolidated financial statements have been prepared under the historical cost convention, as modified by the revaluation of available-for-sale financial assets, and financial assets and financial liabilities (including derivative instruments) at fair value through profit or loss. These consolidated financial statements have been approved for issue by the Board of Directors on February 18, 2020. The Directors have the power to amend and reissue the consolidated financial statements. Detailed below are the companies whose financial statements have been consolidated and accounted for interest in these consolidated financial statements 2. BASIS OF PRESENTATION (continued) Country of Percentage of ownership at December 31, Company Organization Main activity 2019 2018 2017 Ternium S.A. Luxembourg Holding 100.00 % 100.00 % 100.00 % Ternium Investments S.à.r.l. Luxembourg Holding 100.00 % 100.00 % 100.00 % Ternium Participaçoes S.A. (1) (formerly Ternium Brasil S.A.) Brazil Holding 100.00 % 100.00 % 100.00 % Ternium Internacional España S.L. (1) Spain Holding and marketing of steel products 100.00 % 100.00 % 100.00 % Ternium Investments Switzerland AG (1) Switzerland Holding 100.00 % 100.00 % 100.00 % Ternium USA Inc. (1) USA Manufacturing and selling of steel products 100.00 % 100.00 % 100.00 % Ternium Argentina S.A. (formerly Siderar S.A.I.C.) (2) Argentina Manufacturing and selling of flat steel products 61.50 % 60.94 % 60.94 % Impeco S.A. (3) Argentina Manufacturing of pipe products 61.54 % 60.97 % 60.97 % Prosid Investments S.A. (4) Uruguay Holding 61.51 % 60.94 % 60.94 % Ternium Mexico S.A. de C.V. (5) Mexico Manufacturing and selling of steel products 88.94 % 88.78 % 88.78 % Hylsa S.A. de C.V. (6) Mexico Manufacturing and selling of steel products 88.94 % 88.78 % 88.78 % Las Encinas S.A. de C.V. (6) Mexico Exploration, exploitation and pelletizing of iron ore 88.94 % 88.78 % 88.78 % Ferropak Comercial S.A. de C.V. (6) Mexico Scrap services company 88.94 % 88.78 % 88.78 % Transamerica E. & I. Trading Corp. (6) USA Scrap services company 88.94 % 88.78 % 88.78 % Técnica Industrial S.A. de C.V. (6) Mexico Services 88.94 % 88.78 % 88.78 % Galvacer Chile S.A. (6) Chile Distributing company 88.94 % 88.78 % 88.78 % Ternium Gas México S.A. de C.V. (7) Mexico Energy services company 88.94 % 88.78 % 88.78 % Consorcio Minero Benito Juarez Peña Colorada S.A.de C.V. (8) Mexico Exploration, exploitation and pelletizing of iron ore 44.47 % 44.39 % 44.39 % Peña Colorada Servicios S.A. de C.V. (8) Mexico Services 44.47 44.39 % 44.39 % Exiros B.V. (8) Netherlands Procurement and trading services 50.00 % 50.00 % 50.00 % Servicios Integrales Nova de Monterrey S.A. de C.V. (9) Mexico Medical and Social Services 66.26 % 66.14 % 66.14 % Ternium Internacional Nicaragua S.A. Nicaragua Manufacturing and selling of steel products 99.38 % 99.38 % 99.38 % Ternium Internacional Honduras S.A. de C.V. Honduras Manufacturing and selling of steel products 99.18 % 99.18 % 99.18 % Ternium Internacional El Salvador S.A. de C.V. El Salvador Manufacturing and selling of steel products 99.92 % 99.92 % 99.92 % Ternium Internacional Costa Rica S.A. Costa Rica Manufacturing and selling of steel products 99.98 % 99.98 % 99.98 % Ternium Internacional Guatemala S.A. (10) Guatemala Manufacturing and selling of steel products 99.98 % 99.98 % 99.98 % Ternium Colombia S.A.S. (formerly Ferrasa S.A.S.) (10) Colombia Manufacturing and selling of steel products 100.00 % 100.00 % 100.00 % Ternium del Cauca S.A.S. (formerly Perfilamos del Cauca S.A.S.) (10) Colombia Manufacturing and selling of steel products 100.00 % 100.00 % 100.00 % Ternium Siderúrgica de Caldas S.A.S. (formerly Siderúrgica de Caldas S.A.S.) (10) Colombia Manufacturing and selling of steel products 100.00 % 100.00 % 100.00 % Tenigal S. de R.L. de C.V. (11) Mexico Manufacturing and selling of steel products 51.00 % 51.00 % 51.00 % Ternium Internacional S.A. Uruguay Marketing of steel products 100.00 % 100.00 % 100.00 % Ternium Treasury Services S.A. Uruguay Financial Services 100.00 % 100.00 % 100.00 % Ternium Internationaal B.V. (12) Netherlands Marketing of steel products 100.00 % 100.00 % 100.00 % Ternium International Inc. (12) Panama Marketing of steel products 100.00 % 100.00 % 100.00 % Ternium Procurement S.A. (13) Uruguay Marketing of steel products and procurement services 100.00 % 100.00 % 100.00 % 2. BASIS OF PRESENTATION (continued) Country of Percentage of ownership at December 31, Company Organization Main activity 2019 2018 2017 Technology & Engineering Services S.A. (13) Uruguay Engineering and other services 100.00 % 100.00 % 100.00 % Soluciones Integrales de Gestión S.A. (14) Argentina Other services 100.00 % 100.00 % 100.00 % Ternium Staal B.V. (15) Netherlands Holding and marketing of steel products 100.00 % 100.00 % 100.00 % Ternium Brasil Ltda. (15) Brazil Manufacturing and selling of steel products 100.00 % 100.00 % 100.00 % Ternium del Atlántico S.A.S (16) Colombia Manufacturing and selling of steel products 100.00 % 100.00 % 100.00 % Ternium Solutions S.A. (fomerly Tericer Trading S.A.) (17) Uruguay Other services 100.00 % 100.00 % — Imsamex Ecuador S.A. (18) Ecuador Distributing company — 88.78 % 88.78 % Ternium Solutions A.G. (19) Switzerland Other services — 100.00 % 100.00 % Ternium Ingeniería y Servicios de México S.A. de C.V. (20) Mexico Engineering and other services — 99.89 % 99.89 % Ternium International USA Corporation (21) USA Marketing of steel products — 100.00 % 100.00 % Acedor S.A. de C.V. (22) Mexico Holding — — 88.78 % Ecosteel Gestao de Águas Industriais S.A. (23) Brazil Other services — — 100.00 % Ecosteel Gestao de Efuentes Industriais S.A. (24) Brazil Other services — — 100.00 % Galvatubing Inc. (25) USA Manufacturing and selling of pipe products — — 88.78 % Galvamet America Corp. (26) USA Manufacturing and selling of insulated panel products — — 88.78 % Ternium Internacional de Colombia S.A.S. (27) Colombia Marketing of steel products — — 100.00 % (1) Indirectly through Ternium Investments S.à.r.l. Total voting rights held: 100.00% . (2) Since the third quarter of 2019, indirectly through Ternium Internacional España S.L. Total voting rights held 61.50% . Before that, indirectly through Ternium Internacional España S.L. total voting rights was 60.94% . During the fourth quarter of 2017, Siderar S.A.I.C. changed its business name to Ternium Argentina S.A. (3) Since the fourth quarter of 2017, indirectly through Ternium Argentina S.A. and Soluciones Integrales de Gestión S.A. Total voting rights held 100.00% . Before that, indirectly through Ternium Argentina S.A. and Ternium Internacional S.A. (4) Since the fourth quarter of 2017, indirectly through Ternium Argentina S.A. and Ternium Procurement S.A. Total voting rights held 100.00% . Before that, indirectly through Ternium Argentina S.A. and Ternium Internacional S.A. (5) Since the fourth quarter of 2017, indirectly through Ternium Argentina S.A. and Ternium Internacional España S.L. Total voting rights held 100.00% . Before that, indirectly through Ternium Argentina S.A., Ternium Internacional S.A. and Ternium Internacional España S.L. (6) Indirectly through Ternium Mexico S.A. de C.V. Total voting rights held: 100.00% . (7) Indirectly through Ternium Mexico S.A. de C.V. and Tenigal S. de R.L. de C.V. Total voting rights held: 100.00% . (8) Total voting rights held: 50.00% . The Company recognizes the assets, liabilities, revenue and expenses in relation to its interest in the joint operation. (9) Indirectly through Ternium Mexico S.A. de C.V. Total voting rights held: 74.50% . (10) Indirectly through Ternium Internacional España S.L. Total voting rights held: 100.00% . (11) Indirectly through Ternium Internacional España S.L. Total voting rights held: 51.00% . (12) Since the third quarter of 2017, indirectly through Ternium Investments S.à r.l. Total voting rights held: 100.00% . Before that, indirectly through Ternium Investments Switzerland AG. (13) Since the third quarter of 2017, indirectly through Ternium Internacional España S.L. Total voting rights held: 100.00% . Before that, indirectly through Ternium Investments Switzerland AG. (14) Since the third quarter of 2017, indirectly through Ternium Investments S.à r.l. and Ternium Internacional España S.L. Total voting rights held 100.00% . Before that, indirectly through Ternium Investments S.à r.l. and Technology and Engineering Services S.A. (15) Indirectly through Ternium Investments S.à.r.l. Total voting rights held: 100.00% . (16) Indirectly through Ternium Internacional España S.L. Total voting rights held: 100.00% . (17) Indirectly through Ternium Investments S.à.r.l. Total voting rights held: 100.00% . (18) This company was dissolved as of December 19, 2019. (19) This company was dissolved as of July 3, 2019. (20) This company was dissolved as of March 29, 2019. (21) Merged with Ternium USA Inc. during the first quarter of 2019. (22) Merged with Ternium México S.A. de C.V. during the fourth quarter of 2018. (23) This company was dissolved as of December 3, 2018. (24) This company was dissolved as of May 4, 2018. (25) This company was dissolved as of July 19, 2018. (26) This company was dissolved as of August 3, 2018. (27) This company was dissolved as of October 3, 2018. 2. BASIS OF PRESENTATION (continued) The most important non-controlling interest is related to the investment in Ternium Argentina S.A., which is a company listed in the Buenos Aires Stock Exchange. Ternium Argentina S.A. stated in its annual accounts as of and for the year ended December 31, 2019 , that revenues amounted to $ 1,789 million ( 2018 : $ 1,959 million ), net profit from continuing operations to $ 131 million ( 2018 : $ 254 million ), total assets to $ 2,969 million ( 2018 : $ 3,184 million ), total liabilities to $ 338 million ( 2018 : $ 606 million ) and shareholders’ equity to $ 2,631 million ( 2018 : $ 2,578 million ). All the information related to this investment could be found in the Buenos Aires Stock Exchange webpage.

ACQUISITION OF BUSINESS

ACQUISITION OF BUSINESS	12 Months Ended
	Dec. 31, 2019
Disclosure of detailed information about business combination [abstract]
ACQUISITION OF BUSINESS	ACQUISITION OF BUSINESS CSA Siderúrgica do Atlântico Ltda. (now Ternium Brasil Ltda.) and thyssenkrupp Slab International B.V. (now Ternium Staal B.V.) (a) The acquisition On September 7, 2017, Ternium completed the acquisition from thyssenkrupp AG ("tkAG") of a 100% ownership interest in thyssenkrupp Slab International B.V. ("tkSI") and its wholly-owned subsidiary CSA Siderúrgica do Atlântico Ltda. ("CSA"), a steel slab producer with a steelmaking facility located in the state of Rio de Janeiro, Brazil, and having an annual production capacity of 5 million tons of high-end steel slabs, a deep-water harbor and a 490 MW combined cycle power plant. The acquisition was expected to substantially increase Ternium’s steelmaking capacity and strengthen its business in strategic industrial sectors across Latin America. As part of the transaction, tkAG assigned to Ternium a slab commitment agreement providing for an arrangement relating to the purchase of CSA-manufactured carbon steel slabs under the terms of a slab frame supply agreement and related annual slab off-take agreements between tkSI and the entity that acquired thyssenkrupp’s former Calvert re-rolling facility in Alabama, United States of America. Such slab commitment agreement provided for a commitment by such entity to purchase from tkSI approximately 2.0 million tons of CSA-manufactured carbon steel slabs per year until September 30, 2019, at the price resulting from the pricing formula set forth therein. This slab commitment agreement was amended on December 20, 2017, spreading deliveries of the remaining slab volumes committed under such agreement through December 2020. The purchase price paid by Ternium in the acquisition totaled approximately $ 1,891 million . Ternium began consolidating the balance sheets and results of operations of tkSI and CSA as from September 7, 2017, and CSA changed its name to Ternium Brasil Ltda. and tkSI was renamed Ternium Staal B.V. (b) Fair value of net assets acquired The application of the purchase method required certain estimates and assumptions especially concerning the determination of the fair values of the acquired intangible assets and property, plant and equipment as well as the liabilities assumed at the date of the acquisition. The fair values determined at the acquisition date were based mainly on discounted cash flows and other valuation techniques. 3. ACQUISITION OF BUSINESS (continued) The allocation of the fair values determined for the assets and liabilities arising from the acquisition was as follows: Fair value of acquired assets and liabilities: Property, plant and equipment and Intangible assets 1,573,946 Inventories 400,047 Cash and cash equivalents 278,162 Trade receivables 63,710 Other receivables 705,058 Deferred tax assets 13,686 Provisions (799,938 ) Trade payables (219,604 ) Other assets and liabilities, net (124,078 ) Net assets acquired 1,890,989 According to this purchase price allocation, no goodwill was recorded. Ternium entered into several derivative contracts to partially hedge the currency volatility risk associated with the Euro-denominated transaction price. As of the date of the closing of the acquisition, the fair value of those contracts amounted to $ 75.9 million . Such value was deducted from the purchase consideration. The purchase price allocation disclosed above was prepared with the assistance of a third-party expert. As of December 31, 2018, no adjustment has been recorded to the assets and liabilities assumed in comparison to the amounts registered as of December 31, 2017. (c) Main contingencies associated with the acquired business Contrary to the recognition principles in IAS 37 Provisions, Contingent Liabilities and Contingent Assets, IFRS 3 Business Combinations requires an acquirer of a business to recognize contingent liabilities assumed in a business acquisition at the acquisition date even if it is not probable that an outflow of resources will be required to settle the obligation. The main contingencies recognized in the Company’s consolidated financial statements pursuant to IFRS 3 Business Combinations in connection with the acquisition of tkSI and CSA include the following: (i) Fishermen associations’ claims Civil contingencies include lawsuits brought by a number of fishermen associations on behalf of their associates, alleging that the dredge of Ternium Brasil’s deep-water port has had a negative impact on fish farming and exploitation activities in the Sepetiba Bay area in Rio de Janeiro and that, as a result, fishermen in that area had suffered damages. A provision in the amount of $ 24.5 million was recorded at the acquisition date in connection with this matter ( $14.1 million and $ 19.7 million as of December 31, 2019 and 2018, respectively). 3. ACQUISITION OF BUSINESS (continued) (ii) Tax assessments relating to the use of certain ICMS tax credits The Imposto Sobre Operações Relativas à Circulação de Mercadorias e Serviços, or ICMS, is a Brazilian value-added tax on the services (inter-states) and the transfer of goods in Brazil. Payment of ICMS generates tax credits that, subject to applicable law, rules and regulations, may be either used to offset ICMS payment obligations generated in connection with domestic sales of products and services, or sold and transferred to third parties. The Rio de Janeiro State Treasury Office is challenging the use by Ternium Brasil of ICMS tax credits generated in connection with purchases of refractory materials in the period from December 2010 through December 2016, and intends to assess taxes and impose fines on Ternium Brasil on the argument that such materials may not be qualified as raw materials or intermediary products but as goods for consumption and, accordingly, ICMS tax credits generated in connection with their purchase are not available and may not be used to offset ICMS payment obligations generated in connection with Ternium Brasil’s domestic sales of carbon steel slabs. Ternium Brasil has appealed against the Rio de Janeiro State Treasury Office tax assessments and fines. A provision in the amount of $ 57.7 million was recorded as of the acquisition date in connection with this matter ( $45.0 million and $ 46.9 million as of December 31, 2019 and 2018, respectively). (iii) ICMS deferral tax benefit - Unconstitutionality Through State Law No. 4,529, of March 31, 2005, the State of Rio de Janeiro granted Ternium Brasil a tax incentive consisting of a deferment of ICMS payable by Ternium Brasil in connection with the construction and operation of the company’s Rio de Janeiro steelmaking complex. The incentive applies in respect of the acquisition of fixed assets and certain raw materials (i.e. iron ore, pellets, alloys, coke, coal and scrap) and significantly reduces input ICMS credit accumulation by Ternium Brasil. The tax incentive was granted for a period of 20 years from the commencement of the construction works for Ternium Brasil’s Rio de Janeiro steel complex. In 2012, a Brazilian political party filed a direct action of unconstitutionality against the above-mentioned State Law before the Brazilian Federal Supreme Court, predicated on the argument that, since the tax incentive granted pursuant to such State Law had not been approved by Brazil’s National Council of Fiscal Policy ( Conselho Nacional de Política Fazendária , or CONFAZ), such State Law should be declared unconstitutional. In August 2017, the Brazilian Congress enacted Supplementary Law No. 160/2017, instituting a mechanism through which the States may confirm any ICMS incentives they had granted in prior years without CONFAZ approval and, in furtherance of such Supplementary Law, in December 2017 the States adopted ICMS Convention 190/2017, establishing the applicable rules and deadlines for so confirming such ICMS incentives. As per the terms of ICMS Convention 190/2017, all States are required to publish in their official gazettes, on or before March 29, 2018, a list of the ICMS incentives that are to be confirmed pursuant to Supplementary Law No. 160. On March 6, 2018, the State of Rio de Janeiro published its list of ICMS incentives, including, among others, the ICMS benefit granted to Ternium Brasil. ICMS Convention 190/2017 also required that all relevant documents concerning such incentives be filed with CONFAZ, and the State of Rio de Janeiro satisfied such requirements as well. On July 27, 2018, the Governor of Rio de Janeiro issued Executive Order (Decreto) No. 4,678, pursuant to which the State of Rio de Janeiro reconfirmed, in accordance with ICMS Convention 190/2017, the ICMS tax benefits listed in its official gazette publication made pursuant to the Convention, including, among others, Ternium Brasil’s ICMS tax benefits. 3. ACQUISITION OF BUSINESS (continued) In October 2018, the State of Rio de Janeiro and the Federation of Industries of the State of Rio de Janeiro (Federação das Indústrias do Estado do Rio de Janeiro , or FIRJAN) filed petitions arguing that the action of unconstitutionality against the March 31, 2005 Rio de Janeiro State Law No. 4,529 could not be judged by the Federal Supreme Court since, following the revalidation of such law under Supplementary Law No.160/17 and the ICMS Convention 190/2017, such action of unconstitutionality had lost its purpose. Following the filing of such petitions, the Reporting Justice Minister in charge of the case summoned the plaintiff in such action of unconstitutionality, the Federal Attorney General’s Office (Advocacia-Geral da União, or AGU) and the Chief of the Public Minister (Procuradoria-Geral da República, or PGR) to submit statements expressing their respective views on the arguments presented by the State of Rio de Janeiro and the FIRJAN with respect to the effect of Supplementary Law No.160/17 and the ICMS Convention 190/2017 on the pending action of unconstitutionality. In their respective statements, the plaintiff argued that Supplementary Law No.160/17 and the ICMS Convention 190/2017 do not affect the unconstitutionality of ICMS benefits granted through State Law No. 4,529, while the AGU stated that, in light of the additional legal support provided by Supplementary Law No.160/17 and the ICMS Convention 190/2017, a finding of unconstitutionality of State Law No. 4,529 would not be warranted. In turn, the PGR stated that a decision on the case should be postponed until the Federal Supreme Court completes its analysis of Supplementary Law No.160/17 and ICMS Convention 190/2017. As of the date of these consolidated financial statements, the Brazilian Federal Supreme Court has not yet ruled on the action of unconstitutionality against Rio de Janeiro's State Law No. 4,529. The tax benefits accumulated under Ternium Brasil’s ICMS incentive amounted to approximately $ 1,089 million as of the acquisition date. In accordance with the guidance in IFRS 3, the Company recorded as of the acquisition date a provision of $ 651.8 million (including estimated penalties and interest) in connection with this matter, together with an asset of $ 325.9 million arising from its right to recover part of the contingency amount from thyssenkrup Veerhaven B.V. ( $508.9 million and $254.4 million , respectively, as of December 31, 2019, and $ 529.4 million and $ 264.7 million , respectively, as of December 31, 2018). The calculation of this contingency related to an uncertain tax position has been determined taking into consideration the probability of negative outcome for the Company, if any, on an estimated total risk of $ 1,630 million (including estimated penalties and interests) ( $1,948 million as of December 31, 2019). In connection with the asset related to the Company's right to recover part of the contingency amount from thyssenkrup Verhaven B.V., the following two events need to happen within the following time frames: the Supreme Federal Court of Brazil or any Civil Court of the State of Rio de Janeiro would need to issue a decision voiding above mentioned law prior to September 7, 2020, and Ternium Brasil would have to make a payment or repayment of ICMS tax incentives prior to September 7, 2022. (d) Acquisition financing The acquisition was mainly financed through an unsecured 5 -year syndicated facility in the principal amount of $ 1.5 billion granted to the Company’s subsidiary, Ternium Investments S.àr.l., by a syndicate of banks. The facility is to be repaid in eight consecutive and equal semi-annual installments, commencing on March 5, 2019, and has been guaranteed by the Company’s subsidiary, Ternium México, S.A. de C.V. The borrower and the guarantor are subject to certain covenants customary for transactions of this type, including limitations on liens and encumbrances, transactions with affiliates, consolidations and mergers and restrictions on investments. The guarantor is additionally subject to limitations on the sale of certain assets and compliance with a leverage ratio. There are no limitations to the payment of dividends applicable to the borrower or the guarantor, except, with respect to the borrower, upon an event of default under the facility. During 2018 and 2019, the Company made prepayments of principal for $ 375 million and $725 million , respectively. As of December 31, 2019, the outstanding value of this syndicated facility was $ 400 million and both the borrower and the guarantor were in compliance with all of its covenants.

ACCOUNTING POLICIES

ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2019
Disclosure of significant accounting policies [Abstract]
ACCOUNTING POLICIES	ACCOUNTING POLICIES The following is a summary of the principal accounting policies followed in the preparation of these Consolidated Financial Statements: (a) Group accounting (1) Subsidiary companies and transactions with non-controlling interests Subsidiaries are all entities over which the Company has control. The Company controls an entity when the Company is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Company. They are deconsolidated from the date that control ceases. The Company uses the acquisition method of accounting to account for business combinations. The consideration transferred for the acquisition of a subsidiary is the fair values of the assets transferred, the liabilities incurred and the equity interests issued by the Company. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration arrangement. Acquisition-related costs are expensed as incurred. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at the fair values at the acquisition date. Indemnification assets are recognized at the same time that the Company recognizes the indemnified item and measures them on the same basis as the indemnified item, subject to the need for a valuation allowance for uncollectible amounts. The Company measures the value of a reacquired right recognized as an intangible asset on the basis of the remaining contractual term of the related contract regardless of whether market participants would consider potential contractual renewals in determining its fair value. On an acquisition-by-acquisition basis, the Company recognizes any non-controlling interest in the acquiree at the non-controlling interest's proportionate share of the acquiree's net assets. The excess of the consideration transferred, the amount of any non-controlling interest in the acquiree and the acquisition-date fair value of any previous equity interest in the acquiree over the fair value of the Company's share of the identifiable net assets acquired is recorded as goodwill. If this is less than the fair value of the net assets of the subsidiary acquired in the case of a bargain purchase, the difference is recognized directly in the income statement. The measurement period is the earlier of the date that the acquirer receives the information that it is looking for or cannot obtain the information and one year after the acquisition date. Where the accounting for a business combination is not complete by the end of the reporting period in which the business combination occurred provisional amounts are reported. The Company treats transactions with non-controlling interests as transactions with equity owners of the Company. For purchases from non-controlling interests, the difference between any consideration paid and the relevant share acquired of the carrying value of net assets of the subsidiary is recorded in equity. Gains or losses on disposals to non-controlling interests are also recorded in equity. When the Company ceases to have control or significant influence, any retained interest in the entity is remeasured to its fair value, with the change in carrying amount recognized in profit or loss. The fair value is the initial carrying amount for the purposes of subsequently accounting for the retained interest as an associate, joint venture or financial asset. In addition, any amounts previously recognized in other comprehensive income in respect of that entity are accounted for as if the group had directly disposed of the related assets or liabilities. This may mean that amounts previously recognized in other comprehensive income are reclassified to profit or loss. Inter-company transactions, balances and unrealized gains on transactions between group companies are eliminated. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. However, the fact that the functional currency of some subsidiaries is their respective local currency, generates some financial gains (losses) arising from intercompany transactions, that are included in the consolidated income statement under Other financial expenses, net. (2) Investments in non-consolidated companies Associated companies are those entities in which Ternium has significant influence, but which it does not control. Joint arrangements are understood as combinations in which there are contractual agreements by virtue of which two or more companies hold an interest in companies that undertake operations or hold assets in such a way that any financial or operating decision is subject to the unanimous consent of the partners. A joint arrangement is classed as a joint operation if the parties hold rights to its assets and have obligations in respect of its liabilities or as a joint venture if the venturers hold rights only to the investee's net assets. Investments in non-consolidated companies (associated companies and joint ventures) are accounted for using the equity method of accounting. Under this method, interests in joint ventures and associates are initially recognized in the consolidated statement of financial position at cost and adjusted thereafter to recognize the Company’s share of the post-acquisition profits or losses in the income statement, and its share of post-acquisition changes in reserves recognized in reserves and in other comprehensive income in the income statement. Unrealized gains on transactions among the Company and its non-consolidated companies are eliminated to the extent of the Company’s interest in such non-consolidated companies; unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. When the Company’s share of losses in a non-consolidated company equals or exceeds its interest in such non-consolidated company, the Company does not recognize further losses unless it has incurred obligations or made payments on behalf of such non-consolidated company. The Company’s investment in associates and joint ventures includes notional goodwill identified on acquisition. The Company determines at each reporting date whether there is any objective evidence that the investment is impaired. If this is the case, the group calculates the amount of impairment as the difference between the recoverable amount of the investment and its carrying value and recognizes the amount within “Equity on earnings (losses) of non-consolidated companies”. (b) Foreign currency translation (1) Functional and presentation currency Items included in the financial statements of each of the Company's subsidiaries and associated companies are measured using the currency of the primary economic environment in which the entity operates (the "functional currency"). Except for the Argentine and the non-consolidated companies whose functional currencies are their local currencies, Ternium determined that the functional currency of its subsidiaries is the U.S. dollar. Although Ternium is located in Luxembourg, it operates in several countries with different currencies. The $ is the currency that best reflects the economic substance of the underlying events and circumstances relevant to Ternium as a whole. (2) Subsidiary companies The results and financial position of all the group entities (except for the ones which operates in a hyperinflationary economy; see note 4 (cc)) that have a functional currency different from the presentation currency, are translated into the presentation currency as follows: (i) assets and liabilities are translated at the closing rate of each statement of financial position; (ii) income and expenses for each income statement are translated at average exchange rates (unless this average is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the rate on the dates of the transactions); and (iii) all resulting translation differences are recognized within other comprehensive income. In the case of a sale or other disposition of any such subsidiary, any accumulated translation differences would be recognized in the income statement as part of the gain or loss on sale. (3) Transactions in currencies other than the functional currency Transactions in currencies other than the functional currency are translated into the functional currency using the exchange rates prevailing at the date of the transactions or valuation where items are re-measured. At the end of each reporting period: (i) monetary items denominated in currencies other than the functional currency are translated using the closing rates, (ii) non-monetary items that are measured in terms of historical cost in a currency other than the functional currency are translated using the exchange rates prevailing at the date of the transactions; and (iii) non-monetary items that are measured at fair value in a currency other than the functional currency are translated using the exchange rates prevailing at the date when the fair value was determined. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in currencies other than the functional currency are recorded as gains and losses from foreign exchange and included in "Other financial income (expenses), net" in the consolidated income statement, except when deferred in equity as qualifying cash flow hedges and qualifying net investment hedges. Translation differences on non-monetary financial assets and liabilities such as equities held at fair value through profit or loss are recognized in profit or loss as part of the "fair value gain or loss," while translation differences on non-monetary financial assets such as equities classified as fair value through other comprehensive income are included in other gains/(losses). (c) Financial instruments Non derivative financial instruments Non derivative financial instruments comprise investments in equity and debt securities, trade and other receivables, cash and cash equivalents, loans and borrowings, and trade and other payables. From January 1, 2018, the Company classifies its financial instruments in the following measurement categories: – Amortized cost: instruments that are held for collection or repayment of contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortized cost. Interest income and expenses from these financial instruments are included in finance income or expense using the effective interest rate method. Any gain or loss arising on derecognition is recognized directly in profit or loss and presented in finance income or expense, together with foreign exchange gains and losses. Impairment losses are presented as separate line items in the statement of profit or loss. – Fair value through other comprehensive income (“FVOCI”): financial assets that are held for collection of contractual cash flows and for selling the financial assets, where the assets’ cash flows represent solely payments of principal and interest, are measured at FVOCI. Movements in the carrying amount are taken through OCI, except for the recognition of impairment gains or losses, interest revenue and foreign exchange gains and losses which are recognized in profit or loss. When the financial asset is derecognized, the cumulative gain or loss previously recognized in OCI is reclassified from equity to profit or loss and recognized in other gains/(losses). Interest income from these financial assets is included in finance income using the effective interest rate method. Foreign exchange gains and losses are presented in other gains/(losses) and impairment expenses are presented as separate line item in the statement of profit or loss. – Fair value through profit or loss (“FVPL”): financial instruments that do not meet the criteria for amortized cost or FVOCI are measured at FVPL. A gain or loss on a debt investment that is subsequently measured at FVPL is recognized in profit or loss and presented net within other gains/(losses) in the period in which it arises. The classification depends on the Company’s business model for managing the financial instruments and the contractual terms of the cash flows. For financial instruments measured at fair value, gains and losses will either be recorded in profit or loss or OCI. For investments in equity instruments that are not held for trading, this will depend on whether the group has made an irrevocable election at the time of initial recognition to account for the equity investment at FVOCI. At initial recognition, the Company measures a financial instrument at its fair value plus, in the case of a financial instrument not at FVPL, transaction costs that are directly attributable to the acquisition of the financial instrument. Transaction costs of financial instruments carried at FVPL are expensed in profit or loss. Subsequent measurement of debt instruments depends on the Company’s business model for managing the asset and the cash flow characteristics of the asset. Until December 31, 2017 Ternium non derivative financial instruments were classified into the following categories: • Financial instruments at fair value through profit or loss: comprising mainly cash and cash equivalents and investments in debt securities held for trading; • Held-to-maturity instruments: measured at amortized cost using the effective interest method less impairment losses. As of December 31, 2017, there were $6.1 million classified under this category; • Loans and receivables: measured at amortized cost using the effective interest method less impairment losses; • Available-for-sale ("AFS") financial assets: gains and losses arising from changes in fair value were recognized within other comprehensive income ("OCI") with the exception of impairment losses, interest calculated using the effective interest method and foreign exchange gains and losses on monetary assets, which were recognized directly in profit or loss. Where the investment was disposed of or was determined to be impaired, the cumulative gain or loss previously recognized in OCI was included in the income statement for the period. As of December 31, 2017, there were no AFS amounts classified under this category; • Other financial liabilities: measured at amortized cost using the effective interest method. The classification depended on the nature and purpose of the financial assets and was determined at the time of initial recognition. Financial assets and liabilities were recognized and derecognized on the settlement date. Financial assets were initially measured at fair value, net of transaction costs, except for those financial assets classified as financial assets at fair value through profit or loss. Financial liabilities, including borrowings, were initially measured at fair value, net of transaction costs and subsequently measured at amortized cost using the effective interest method, with interest expense recognized on an effective yield basis. Impairment of financial assets From January 1, 2018, the Company assesses on a forward-looking basis the expected credit losses associated with its debt instruments carried at amortized cost and FVOCI. The impairment methodology applied depends on whether there has been a significant increase in credit risk. For trade receivables, the Company applies the simplified approach permitted by IFRS 9, which requires expected lifetime losses to be recognized from initial recognition of the receivables, see note 4 (i) for further details. Until December 31, 2017, the Company assessed at the end of each reporting period whether there was objective evidence that a financial asset or group of financial assets was impaired. A financial asset or a group of financial assets was impaired and impairment losses were incurred only if there was objective evidence of impairment as a result of one or more events that occurred after the initial recognition of the asset (a "loss event") and that loss event (or events) had an impact on the estimated future cash flows of the financial asset or group of financial assets that could be reliably estimated. The Company first assessed whether objective evidence of impairment existed. For loans and receivables category and for held-to-maturity investments, the amount of the loss was measured as the difference between the asset's carrying amount and the present value of estimated future cash flows (excluding future credit losses that have not been incurred) discounted at the financial asset's original effective interest rate. The carrying amount of the asset was reduced and the amount of the loss was recognized in the consolidated income statement. If, in a subsequent period, the amount of the impairment loss decreased and the decrease could be related objectively to an event occurring after the impairment was recognized, the reversal of the previously recognized impairment loss was recognized in the consolidated income statement. Derivative financial instruments Information about accounting for derivative financial instruments and hedging activities is included in Note 30 "Financial Risk management" and Note 4 (y). (d) Property, plant and equipment (1) Property, plant and equipment Land and buildings comprise mainly factories and offices. All property, plant and equipment are recognized at historical acquisition or construction cost less accumulated depreciation and accumulated impairment (if applicable), except for land, which is carried at acquisition cost less accumulated impairment (if applicable). There are no material residual values for property, plant and equipment items. Major overhaul and rebuilding expenditures are recognized as a separate asset when future economic benefits are expected from the item, and the cost can be measured reliably. Ordinary maintenance expenses on manufacturing properties are recorded as cost of products sold in the period in which they are incurred. Where a tangible fixed asset comprises major components having different useful lives, these components are accounted for as separate items. Spare parts are included in property, plant and equipment. Depreciation method is reviewed at each year end. Depreciation is calculated using the straight-line method to amortize the cost of each asset to its residual value over its estimated useful life as follows: Land No depreciation Buildings and improvements 10-50 years Production equipment 5-40 years Vehicles, furniture and fixtures and other equipment 3-20 years Property, plant and equipment used in mining activities are depreciated over its useful life or over the remaining life of the mine if shorter and there is no alternative use possible. The assets' useful lives are reviewed, and adjusted if appropriate, at each year end. The re-estimation of assets useful lives by the Company did not materially affect depreciation charges in 2019 , 2018 and 2017 . Gains and losses on disposals are determined by comparing the proceeds with the corresponding carrying amounts and are included in the income statement. If the carrying amount of an asset were greater than its estimated recoverable amount, it would be written down to its recoverable amount (see Note 4 (f) "Impairment"). Amortization charges are included in cost of sales, selling, general and administrative expenses. (2) Right-of-use assets The Company is a party to lease contracts for: • Land • Plants and equipment for the production of industrial gases and other production materials. • Transportation and maintenance equipment. • Warehouses and office spaces. These leases are recognized, measured and presented in accordance to IFRS 16 “Leases”, following the guidelines described below. Accounting by the lessee The Company recognizes a right-of-use asset and a lease liability at the commencement date of each lease contract that grants the right to control the use of an identified asset during a period of time. The commencement date is the date in which the lessor makes an underlying asset available for use by the lessee. The Company applied exemptions for leases with a duration lower than 12 months, with a value lower than thirty thousand dollars and/or with clauses related to variable payments. These leases have been considered as short-term leases and, accordingly, no right-of-use asset or lease liability have been recognized. At initial recognition, the right-of-use asset is measured considering: – The value of the initial measurement of the lease liability; – Any lease payments made at or before the commencement date, less any lease incentives; and – Any initial direct costs incurred by the lessee. After initial recognition, the right-of-use assets are measured at cost, less any accumulated depreciation and/or impairment losses, and adjusted for any re-measurement of the lease liability. Depreciation of the right-of-use asset is calculated using the straight-line method over the estimated duration of the lease contract, as follows: Buildings and facilities 2-20 years Machinery 2-17 years If the lease transfers ownership of the underlying asset to the Company by the end of the lease term, or if the cost of the right-of-use asset reflects that the Company will exercise a purchase option, the Company depreciates the right-of-use asset from the commencement date to the end of the useful life of the underlying asset. Otherwise, the Company depreciates the right-of-use asset from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term. Accounting by the lessor When the Company is acting as a lessor, each of its leases is classified as either operating or finance lease: – Leases where a significant portion of the risks and rewards of ownership are retained by the lessor are classified as operating leases. – Leases where all substantial risks and rewards of ownership are transferred by the lessor to the lessee are classified as finance leases. (e) Intangible assets (1) Information system projects Generally, costs associated with developing or maintaining computer software programs are recognized as an expense as incurred. However, costs directly related to the acquisition and implementation of information systems are recognized as intangible assets if they have a probable economic benefit exceeding the cost beyond one year and comply with the recognition criteria of IAS 38. Information system projects recognized as assets are amortized using the straight-line method over their useful lives, not exceeding a period of 3 years . Amortization charges are included in cost of sales, selling, general and administrative expenses. (2) Mining assets Mining assets include: (a) Mining licenses acquired; (b) Capitalized exploration and evaluation costs, reclassified from exploration and evaluation costs (see note 4 (e) 3); and (c) Capitalized developmental stripping costs (see note 4 (u)). Mining licenses were recognized as separate intangible assets upon the acquisition of the investment in Mexico and comprise the right to exploit the mines and are recognized at its fair value at acquisition date less accumulated amortization. These mining concessions were granted for a 50 -year period; following the expiration of the initial concession term, the concessions are renewable for an additional 50 -year term in accordance with, and subject to the procedures set forth in, applicable Mexican mining law. Amortization charge is calculated by using the unit-of-production method, on the basis of actual mineral extracted in each period compared to the estimated mineral reserves, and is included in cost of sales. Any change in the estimation of reserves is accounted for prospectively. The resulting amortization rate for the years ended December 31, 2019 , 2018 and 2017 , is approximately 5% , 8% and 7% per year, respectively. (3) Exploration and evaluation costs Exploration and evaluation activities involve the search for iron ore resources, the determination of technical feasibility and the assessment of commercial viability of an identified resource. Exploration and evaluation costs are measured at cost. Costs directly associated with exploration and evaluation activities are capitalized as intangible assets until the determination of reserves is evaluated. The costs associated to the acquisition of machinery and equipment are recognized as property, plant and equipment. If it is determined that commercial discovery has been achieved, costs incurred are reclassified into Mining assets and amortization starts once production begins. Exploration costs are tested for impairment when there are indicators that impairment exists. Indicators of impairment include, but are not limited to: • Rights to explore in an area have expired or will expire in the near future without renewal; • No further exploration and evaluation is planned or budgeted; • A decision to discontinue exploration and evaluation in an area because of the absence of commercial reserves; and • Sufficient data exists to indicate that the book value will not be fully recovered from future development and production. When analyzing the existence of impairment indicators, the exploration and evaluation areas from the mining cash-generating units will be evaluated. (4) Goodwill Goodwill represents the excess of the acquisition cost over the fair value of Ternium's participation in acquired companies' net assets at the acquisition date. Under IFRS 3, goodwill is considered to have an indefinite life and not amortized, but is subject to annual impairment testing. Goodwill is allocated to Cash-generating units ("CGU") for the purpose of impairment testing. The allocation is made to those cash-generating units expected to benefit from the business combination which generated the goodwill being tested. The impairment losses on goodwill cannot be reversed. As of December 31, 2019 and 2018 , the carrying amount of goodwill allocated to the Mexico CGUs was $ 662.3 million , of which $ 619.8 million corresponds to steel operations and $ 42.5 million to mining operations. (5) Research and development Research expenditures are recognized as expenses as incurred. Development costs are recorded as cost of sales in the income statement as incurred because they do not fulfill the criteria for capitalization. Research and development expenditures for the years ended December 31, 2019 , 2018 and 2017 totaled $ 10.0 million , $ 8.9 million and $ 9.8 million , respectively. (6) Customer relationships acquired in a business combination In accordance with IFRS 3 and IAS 38, Ternium has recognized the value of customer relationships separately from goodwill in connection with the acquisitions of Grupo Imsa and Ternium Colombia S.A.S. These customer relationships were amortized using the straight-line method over a useful life of approximately 10 years. As of December 31, 2017, these assets were fully amortized. In accordance with IFRS 3 and IAS 38, Ternium has recognized the value of customer relationships in connection with the acquisition of Ternium Staal B.V. The value of the slab commitment agreement by which Ternium Investments S.à r.l. is entitled to invoice, under certain conditions, the price difference between slabs and hot rolled coils will be amortized using the units of slabs sold method. (7) Trademarks acquired in a business combination In accordance with IFRS 3 and IAS 38, Ternium has recognized the value of trademarks separately from goodwill in connection with the acquisitions of Grupo Imsa and Ternium Colombia S.A.S. As of December 31, 2017, these assets were fully amortized. Trademarks are amortized using the straight-line method over a useful life of between 5 to 10 years. (f) Impairment Assets that have an indefinite useful life (including goodwill) are not subject to amortization and are tested annually for impairment or whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Assets that are subject to amortization and investments in affiliates are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's fair value less cost to sell and the value in use. To carry out these tests, assets are grouped at the lowest levels for which there are separately identifiable cash flows (each, a CGU). When evaluating long-lived assets for potential impairment, the Company estimates the recoverable amount based on the value in use of the corresponding CGU. The value in use of each CGU is determined on the basis of the present value of net future cash flows which will be generated by the assets tested. Determining the present value of future cash flows involves highly sensitive estimates and assumptions specific to the nature of each CGU's activities, including estimates and assumptions relating to amount and timing of projected future cash flows, expected changes in market prices, expected changes in the demand of Ternium products and services, selected discount rate and selected tax rate. Ternium uses cash flow projections for the next five years based on past performance and expectations of market development; thereafter, it uses a perpetuity rate. Application of the discounted cash flow (DCF) method to determine the value in use of a CGU begins with a forecast of all expected future net cash flows. Variables considered in forecasts include the gross domestic product (GDP) growth rates of the country under study and their correlation with steel demand, level of steel prices and estimated raw material costs as observed in industry reports. Cash flows are discounted at rates that reflect specific country and currency risks associated with the cash flow projections. The discount rates used are based on the weighted average cost of capital (WACC), which is considered to be a good indicator of cost of capital. As of December 31, 2019 the discount rate used to test goodwill allocated to the Steel and Mining Mexico CGUs for impairment was 9.80% (as of December 31, 2018 , 11.68% ). As a result of the above factors, actual cash flows and values could vary significantly from the forecasted future cash flows and related values derived using discounting techniques. Based on the information currently available, however, Ternium believes that it is not reasonably possible that the variation would cause the carrying amount to exceed the recoverable amount of the CGUs. Considering the economic situation in Argentina, the increase in the inflation rates, the devaluation of the Argentine peso and a weaker industrial environment, the Company decided to assess the recoverability of its investments in Argentina, resulting in no impairment charges to be recognized. As of December 31, 2019, the discount rate used to test the investment in Argentine subsidiaries for impairment was 14.3% . During the years 2019 , 2018 and 2017 , no impairment provisions were recorded in connection with assets that have an indefinite useful life (including goodwill). (g) Other investments Other investments consist primarily of investments in financial debt instruments and equity investments where the Company holds a minor equity interest and does not exert significant influence. All purchases and sales of investments are recognized on the settlement date, which is not significantly different from the trade date, which is the date that Ternium commits to purchase or sell the investment. Income from financial instruments at fair value through profit or loss is recognized in Other financial income (expenses), net in the consolidated income statement. The fair value of quoted investments is based on current bid prices. If the market for a financial investment is not active or the securities are not listed, the Company estimates the fair value by using standard valuation techniques. Dividends from investments in equity instruments are recognized in the income statement when the Company's

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2019
Disclosure of entity's operating segments [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION REPORTABLE OPERATING SEGMENTS The Company is organized in two reportable segments: Steel and Mining. The Steel segment includes the sales of steel products, which comprises slabs, hot rolled coils and sheets, cold rolled coils and sheets, tin plate, welded pipes, hot dipped galvanized and electro-galvanized sheets, pre-painted sheets, billets (steel in its basic, semi-finished state), wire rod and bars and other tailor-made products to serve its customers’ requirements. It also includes the sales of energy. The Steel segment comprises four operating segments: Mexico, Southern Region, Brazil and Other markets. These four segments have been aggregated considering the economic characteristics and financial effects of each business activity in which the entity engages; the related economic environment in which it operates; the type or class of customer for the products; the nature of the products; and the production processes. The Mexico operating segment comprises the Company’s businesses in Mexico. The Southern region operating segment manages the businesses in Argentina, Paraguay, Chile, Bolivia and Uruguay. The Brazil operating segment includes the business generated in Brazil. The Other markets operating segment includes businesses mainly in United States, Colombia, Guatemala, El Salvador, Honduras, Costa Rica and Nicaragua. The Mining segment includes the sales of mining products, mainly iron ore and pellets, and comprises the mining activities of Las Encinas, an iron ore mining company in which Ternium holds a 100% equity interest and the 50% of the operations and results performed by Peña Colorada, another iron ore mining company in which Ternium maintains that same percentage over its equity interest. Both mining operations are located in Mexico. For Peña Colorada, the Company recognizes its assets, liabilities, revenue and expenses in relation to its interest in the joint operation. Ternium’s Chief Operating Decision Maker (CEO) holds monthly meetings with senior management, in which operating and financial performance information is reviewed, including financial information that differs from IFRS principally as follows: - The use of direct cost methodology to calculate the inventories, while under IFRS is at full cost, including absorption of production overheads and depreciation. - The use of costs based on previously internally defined cost estimates, while, under IFRS, costs are calculated at historical cost (with the FIFO method). - Other timing and non-significant differences. Most information on segment assets is not disclosed as it is not reviewed by the CEO. 5. SEGMENT INFORMATION (continued) Year ended December 31, 2019 Steel Mining Inter- segment eliminations Total IFRS Net sales 10,186,171 364,058 (357,411 ) 10,192,818 Cost of sales (8,552,493 ) (259,535 ) 359,588 (8,452,440 ) Gross profit 1,633,679 104,523 2,177 1,740,378 Selling, general and administrative expenses (885,146 ) (12,330 ) — (897,475 ) Other operating income, net 21,931 (268 ) — 21,663 Operating income - IFRS 770,466 91,924 2,177 864,566 Management view Net sales 10,230,650 417,619 (410,972 ) 10,237,297 Operating income 841,169 146,636 2,177 989,982 Reconciliation items: Differences in Cost of sales 99,315 Effect of inflation adjustment (Note 4 (cc)) (224,731 ) Operating income - IFRS 864,566 Financial income (expense), net (98,969 ) Equity in earnings (losses) of non-consolidated companies 60,967 Income before income tax expense - IFRS 826,564 Depreciation and amortization - IFRS (612,744 ) (48,368 ) — (661,112 ) Year ended December 31, 2018 Steel Mining Inter- segment eliminations Total IFRS Net sales 11,453,420 282,000 (280,613 ) 11,454,807 Cost of sales (8,524,890 ) (239,893 ) 281,455 (8,483,328 ) Gross profit 2,928,530 42,107 842 2,971,479 Selling, general and administrative expenses (860,881 ) (15,883 ) — (876,764 ) Other operating income, net 12,950 706 — 13,656 Operating income - IFRS 2,080,599 26,930 842 2,108,371 Management view Net sales 11,723,883 333,892 (332,505 ) 11,725,270 Operating income 1,768,115 91,418 (6,213 ) 1,853,319 Reconciliation items: Differences in Cost of sales 541,492 Effect of inflation adjustment (Note 4 (cc)) (286,440 ) Operating income - IFRS 2,108,371 Financial income (expense), net (179,576 ) Equity in earnings (losses) of non-consolidated companies 102,772 Income before income tax expense - IFRS 2,031,567 Depreciation and amortization - IFRS (537,885 ) (51,415 ) — (589,299 ) 5. SEGMENT INFORMATION (continued) Year ended December 31, 2017 Steel Mining Inter- segment eliminations Total IFRS Net sales 9,700,260 271,477 (271,441 ) 9,700,296 Cost of sales (7,465,751 ) (212,860 ) 275,586 (7,403,025 ) Gross profit 2,234,509 58,617 4,145 2,297,271 Selling, general and administrative expenses (811,487 ) (12,760 ) — (824,247 ) Other operating income, net (17,011 ) 771 — (16,240 ) Operating income - IFRS 1,406,011 46,628 4,145 1,456,784 Management view Net sales 9,700,260 287,152 (287,116 ) 9,700,296 Operating income 1,065,605 66,694 (1,291 ) 1,131,008 Reconciliation items: Differences in Cost of sales 325,776 Operating income - IFRS 1,456,784 Financial income (expense), net (165,090 ) Equity in earnings (losses) of non-consolidated companies 68,115 Income before income tax expense - IFRS 1,359,809 Depreciation and amortization - IFRS (424,529 ) (49,770 ) — (474,299 ) GEOGRAPHICAL INFORMATION The Company has revenues attributable to the Company’s country of incorporation (Luxembourg), related to a contract acquired as a part of the business combination disclosed in note 3. For purposes of reporting geographical information, net sales are allocated based on the customer’s location. Allocation of depreciation and amortization is based on the geographical location of the underlying assets. Year ended December 31, 2019 Mexico Southern region Other markets (2) Total Net sales 5,477,690 1,704,132 3,010,996 10,192,818 Non-current assets (1) 4,584,802 1,008,860 1,889,757 7,483,419 Year ended December 31, 2018 Mexico Southern region Other markets (2) Total Net sales 6,345,137 1,941,168 3,168,502 11,454,807 Non-current assets (1) 4,093,288 1,071,705 1,665,140 6,830,133 Year ended December 31, 2017 Mexico Southern region Other markets (2) Total Net sales 5,629,267 2,316,444 1,754,585 9,700,296 Non-current assets (1) 4,042,914 643,411 1,756,007 6,442,332 (1) Includes Property, plant and equipment and Intangible assets. (2) Includes the assets related to the business acquisition disclosed in note 3. 5. SEGMENT INFORMATION (continued) REVENUES BY PRODUCT Year ended December 31, 2019 2018 2017 Semi-finished (1) 51,496 103,099 123,752 Slabs 1,753,090 1,818,235 715,513 Hot rolled (2) 3,275,941 3,961,144 3,366,697 Cold rolled 1,165,406 1,264,940 1,321,663 Coated (3) 3,263,463 3,506,040 3,391,328 Roll-formed and tubular (4) 380,688 437,514 472,253 Other products (5) 302,734 363,835 309,090 TOTAL SALES 10,192,818 11,454,807 9,700,296 (1) Semi-finished includes billets and round bars. (2) Hot rolled includes hot rolled flat products, merchant bars, reinforcing bars, stirrups and rods. (3) Coated includes tin plate and galvanized products. (4) Roll-formed and tubular includes tubes, beams, insulated panels, roofing and cladding, roof tiles, steel decks and pre-engineered metal building systems. (5) Other products include mainly sales of energy and pig iron.

COST OF SALES

COST OF SALES	12 Months Ended
	Dec. 31, 2019
Analysis of income and expense [abstract]
COST OF SALES	COST OF SALES Year ended December 31, 2019 2018 2017 Inventories at the beginning of the year 2,689,829 2,550,930 1,647,869 Acquisition of business (Note 3) — — 400,047 Effect of initial inflation adjustment (Note 4 (cc)) — 191,708 — Translation differences (21,919 ) (413,436 ) (97,148 ) Plus: Charges for the year Raw materials and consumables used and other movements 6,165,654 6,961,704 6,337,283 Services and fees 151,373 158,551 110,949 Labor cost 611,615 699,447 673,821 Depreciation of property, plant and equipment 508,934 456,522 348,415 Amortization of intangible assets 17,805 25,374 35,275 Maintenance expenses 467,090 519,625 480,496 Office expenses 8,513 8,586 7,350 Insurance 9,674 8,769 7,968 Charge of obsolescence allowance 8,413 17,322 (4,028 ) Recovery from sales of scrap and by-products (23,793 ) (27,744 ) (25,973 ) Others 17,550 15,799 31,631 Less: Inventories at the end of the year (2,158,298 ) (2,689,829 ) (2,550,930 ) Cost of Sales 8,452,440 8,483,328 7,403,025

SELLING, GENERAL AND ADMINISTRA

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES	12 Months Ended
	Dec. 31, 2019
Analysis of income and expense [abstract]
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES	SELLING, GENERAL AND ADMINISTRATIVE EXPENSES Year ended December 31, 2019 2018 2017 Services and fees (1) 79,283 76,066 86,990 Labor cost 215,418 241,552 229,529 Depreciation of property, plant and equipment 16,034 13,561 12,345 Amortization of intangible assets 118,339 93,842 78,264 Maintenance and expenses 4,894 5,096 5,038 Taxes 104,014 95,072 98,786 Office expenses 35,956 35,663 35,922 Freight and transportation 307,958 300,676 259,898 (Decrease) Increase of allowance for doubtful accounts (293 ) 1,629 685 Others 15,872 13,607 16,790 Selling, general and administrative expenses 897,475 876,764 824,247 (1) For the year ended December 31, 2019 , it includes fees accrued for professional services rendered by PwC to Ternium S.A. and its subsidiaries that amounted to $ 3,804 , including $ 3,485 for audit services, $ 54 for audit-related services, $ 190 for tax services and $ 75 for all other services. For the year ended December 31, 2018 , it includes fees accrued for professional services rendered by PwC to Ternium S.A. and its subsidiaries that amounted to $ 4,704 , including $ 3,937 for audit services, $ 61 for audit-related services, $ 281 for tax services and $ 425 for all other services. For the year ended December 31, 2017 , it includes fees accrued for professional services rendered by PwC to Ternium S.A. and its subsidiaries that amounted to $ 3,501 , including $ 2,863 for audit services, $ 91 for audit-related services, $ 229 for tax services and $ 318 for all other services.

LABOR COSTS (Included Cost of s

LABOR COSTS (Included Cost of sales and Selling, General and Administrative expenses)	12 Months Ended
	Dec. 31, 2019
Labor Costs [Abstract]
LABOR COSTS (Included Cost of sales and Selling, General and Administrative expenses)	LABOR COSTS (Included Cost of sales and Selling, General and Administrative expenses) Year ended December 31, 2019 2018 2017 Wages, salaries and social security costs 759,678 884,536 849,354 Termination benefits 28,269 26,601 25,783 Post-employment benefits (Note 21 (i)) 39,086 29,862 28,213 Labor costs 827,033 940,999 903,350 As of December 31, 2019 , 2018 and 2017 , the quantity of employees was 19,863 , 20,660 and 21,335 , respectively.

OTHER OPERATING INCOME (EXPENSE

OTHER OPERATING INCOME (EXPENSES), NET	12 Months Ended
	Dec. 31, 2019
Other operating income (expenses), net [Abstract]
OTHER OPERATING INCOME (EXPENSES), NET	OTHER OPERATING INCOME (EXPENSES), NET Year ended December 31, 2019 2018 2017 Results of sundry assets 258 1,895 1,190 Provision for legal claims and other matters (Note 19 and 25 (ii)) 1,997 7,625 — Other operating income 19,408 4,136 — Other operating income 21,663 13,656 1,190 Provision for legal claims and other matters (Note 19 and 25 (ii)) — — (2,783 ) Other operating expense — — (14,647 ) Other operating expense — — (17,430 ) Other operating (expenses) income, net 21,663 13,656 (16,240 )

OTHER FINANCIAL INCOME (EXPENSE

OTHER FINANCIAL INCOME (EXPENSES), NET	12 Months Ended
	Dec. 31, 2019
Other financial income (expenses), net [Abstract]
OTHER FINANCIAL INCOME (EXPENSES), NET	OTHER FINANCIAL INCOME (EXPENSES), NET Year ended December 31, 2019 2018 2017 Interest expense (88,284 ) (131,172 ) (114,583 ) Finance expense (88,284 ) (131,172 ) (114,583 ) Interest income 29,071 21,236 19,408 Finance income 29,071 21,236 19,408 Net foreign exchange (loss) gain (136,897 ) (177,645 ) (65,479 ) Inflation adjustment results (Note 4 (cc)) 117,956 191,427 — Change in fair value of financial assets — — (1,057 ) Derivative contract results (10,831 ) (99,259 ) 4,132 Others (9,984 ) 15,837 (7,511 ) Other financial income (expenses), net (39,756 ) (69,640 ) (69,915 )

INCOME TAX EXPENSE

INCOME TAX EXPENSE	12 Months Ended
	Dec. 31, 2019
Disclosure of income tax [Abstract]
INCOME TAX EXPENSE	INCOME TAX EXPENSE Income tax expense for each of the years presented is as follows: Year ended December 31, 2019 2018 2017 Current tax (256,460 ) (588,773 ) (450,384 ) Effect of changes in tax law (1) 4,178 (28,596 ) — Deferred tax (Note 20) Deferred tax 38,785 232,485 106,047 Effect of changes in tax law (1) 16,979 — 7,455 Recovery of income tax (2) — 15,449 — Income tax expense (196,519 ) (369,435 ) (336,882 ) (1) For 2019 , it includes mainly the application of the new tax law in Argentina that enables the tax inflation adjustment. The reduction of the tax rate in Argentina enacted in 2017 was modified in 2019, setting the corporate income tax rate to 30% for the year 2020 and to 25% from the year 2021 going forward. For 2018, it includes mainly the option exercised by the Company of the asset revaluation for tax purpose in Argentina, for which an amount of $ 28.6 million s was included. For 2017, it includes the effects of the Argentine tax reform, which became effective starting January 1, 2018, including a reduction in the corporate income tax rate from 35% to 30% during the first two years (i.e., fiscal years starting on or after January 1, 2018 until December 31, 2019, inclusive) and to 25% going forward. Also, a one-time tax on an asset revaluation for tax purposes was approved. It also includes the effects of the U.S. tax reform, which among other provisions, reduced the U.S. corporate tax rate from 35% to 21% , effective January 1, 2018. This required a revaluation of the deferred tax assets and liabilities and certain current tax payables to the newly enacted tax rates at the date of enactment. Consequently, the Company has recorded a net adjustment to deferred income tax benefit of $ 5.2 million for the year ended December 31, 2017. (2) It includes the recovery of tax credits in Ternium Brasil Ltda. Income tax expense for the years ended December 31, 2019 , 2018 and 2017 differed from the amount computed by applying the statutory income tax rate in force in each country in which the company operates to pre-tax income as a result of the following: Year ended December 31, 2019 2018 2017 Income before income tax 826,564 2,031,567 1,359,809 Income tax expense at statutory tax rate (247,592 ) (604,493 ) (387,666 ) Non taxable income 71,101 102,870 16,232 Non deductible expenses (476 ) (16,201 ) (24,070 ) Effect of currency translation on tax base (1) 33,133 161,536 51,167 Increase of unrecognized tax losses carried-forward (73,842 ) — — Recovery of income tax — 15,449 — Effect of changes in tax law 21,157 (28,596 ) 7,455 Income tax expense (196,519 ) (369,435 ) (336,882 ) (1) Ternium applies the liability method to recognize deferred income tax on temporary differences between the tax bases of assets and their carrying amounts in the financial statements. By application of this method, Ternium recognizes gains and losses on deferred income tax due to the effect of the change in the value on the tax basis in subsidiaries, which have a functional currency different to their local currency, mainly Mexico. Tax rates used to perform the reconciliation between tax expense (income) and accounting profit are those in effect at each relevant date or period in each applicable jurisdiction. DEFERRED INCOME TAX Deferred income taxes are calculated in full on temporary differences under the liability method using the tax rate of the applicable country. Changes in deferred income tax are as follows: As of December 31, 2019 2018 At the beginning of the year (340,207 ) (392,265 ) Translation differences 25,166 (7,201 ) Effect of changes in tax law (Note 11) 16,979 — Effect of initial inflation adjustment — (182,773 ) Credits (Charges) directly to other comprehensive income 19,537 9,547 Deferred tax (charge) credit (Note 11) 38,785 232,485 At the end of the year (239,740 ) (340,207 ) 20. DEFERRED INCOME TAX (continued) 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, 2019 At the beginning of the year (522,455 ) (41,316 ) (15,926 ) (1,088 ) (580,785 ) Translation differences 27,077 2,604 316 — 29,997 Income statement credit (charge) 58,002 (24,748 ) (1,499 ) (101 ) 31,654 At the end of the year (437,376 ) (63,460 ) (17,109 ) (1,189 ) (519,134 ) Deferred tax assets Provisions Trade receivables Tax losses (1) Other Total at December 31, 2019 At the beginning of the year 72,947 11,265 33,382 122,984 240,578 Translation differences (572 ) (539 ) — (3,720 ) (4,831 ) Credits (Charges) directly to other comprehensive income — — — 19,537 19,537 Effect of changes in tax law — — — 16,979 16,979 Income statement credit (charge) (26,721 ) (526 ) 9,384 24,994 7,131 At the end of the year 45,654 10,200 42,766 180,774 279,394 (1) As of December 31, 2019 , the recognized deferred tax assets on tax losses amount to $ 42,766 and there are net unrecognized deferred tax assets of $ 0.4 billion and unrecognized tax losses amounting to $ 1.4 billion . These two last effects are connected to the acquisition of Ternium Brasil (see Note 3). Deferred tax liabilities PP&E Inventories Intangible assets Other Total at December 31, 2018 At the beginning of the year (539,839 ) (57,006 ) (18,692 ) (2,056 ) (617,593 ) Translation differences 9,726 527 497 (688 ) 10,062 Effect of initial inflation adjustment (161,044 ) (20,967 ) (762 ) — (182,773 ) Income statement credit (charge) 168,702 36,130 3,031 1,656 209,519 At the end of the year (522,455 ) (41,316 ) (15,926 ) (1,088 ) (580,785 ) Deferred tax assets Provisions Trade receivables Tax losses (2) Other Total at December 31, 2018 At the beginning of the year 61,101 8,200 43,355 112,672 225,328 Translation differences (6,036 ) (1,089 ) — (10,137 ) (17,263 ) Charges directly to other comprehensive income — — — 9,547 9,547 Income statement credit (charge) 17,882 4,154 (9,973 ) 10,903 22,966 At the end of the year 72,947 11,265 33,382 122,984 240,578 (2) As of December 31, 2018 , the recognized deferred tax assets on tax losses amount to $ 33,383 and there are net unrecognized deferred tax assets of $ 0.4 billion and unrecognized tax losses amounting to $ 1.3 billion . These two last effects are connected to the acquisition of Ternium Brasil (see note 3). Deferred tax assets and liabilities are offset when the entity a) has a legally enforceable right to set off the recognized amounts; and b) intends to settle the tax on a net basis or to realize the asset and settle the liability simultaneously. 20. DEFERRED INCOME TAX (continued) The amounts shown in the statement of financial position (prior to offsetting the balances within the same tax jurisdiction) include the following: As of December 31, 2019 2018 Deferred tax assets to be recovered after more than 12 months 203,607 153,681 Deferred tax assets to be recovered within 12 months 75,787 86,897 Deferred tax liabilities to be settled after more than 12 months (454,763 ) (538,854 ) Deferred tax liabilities to be settled within 12 months (64,371 ) (41,931 ) (239,740 ) (340,207 )

PROPERTY, PLANT AND EQUIPMENT,

PROPERTY, PLANT AND EQUIPMENT, NET	12 Months Ended
	Dec. 31, 2019
Disclosure of detailed information about property, plant and equipment [abstract]
PROPERTY, PLANT AND EQUIPMENT, NET	PROPERTY, PLANT AND EQUIPMENT, NET (1) Property, plant and equiment, net Year ended December 31, 2019 Land Buildings and improvements Production equipment Vehicles, furniture and fixtures Work in progress Spare parts Right-of-use assets Total Values at the beginning of the year Cost 587,174 3,303,174 6,748,644 264,782 617,950 124,220 55,288 11,701,232 Accumulated depreciation — (1,520,976 ) (4,126,060 ) (217,394 ) — (13,275 ) (5,918 ) (5,883,623 ) Net book value at January 1, 2019 587,174 1,782,198 2,622,584 47,388 617,950 110,945 49,370 5,817,609 Opening net book value 587,174 1,782,198 2,622,584 47,388 617,950 110,945 49,370 5,817,609 Effect of initial recognition under IFRS 16 — — — — — — 280,493 280,493 Translation differences (596 ) (16,174 ) (9,959 ) (316 ) (1,716 ) (1,089 ) (1,263 ) (31,113 ) Additions 7,531 9,367 2,063 4,821 923,599 38,476 40,864 1,026,721 Capitalized borrowing costs — — — — 16,085 — — 16,085 Disposals / Consumptions — (750 ) (117 ) (1,204 ) (2,988 ) (21,489 ) (18,901 ) (45,449 ) Transfers 326 154,544 264,122 14,843 (433,582 ) (50 ) — 3,125 Depreciation charge — (135,163 ) (324,112 ) (15,167 ) — (6,421 ) (44,105 ) (524,968 ) Closing net book value 594,435 1,794,022 2,554,581 50,365 1,119,348 120,372 306,458 6,539,581 Values at the end of the year Cost 594,435 3,412,904 6,931,970 268,398 1,119,348 140,028 355,928 12,823,011 Accumulated depreciation — (1,618,882 ) (4,377,389 ) (218,033 ) — (19,656 ) (49,470 ) (6,283,430 ) Net book value at December 31, 2019 594,435 1,794,022 2,554,581 50,365 1,119,348 120,372 306,458 6,539,581 Year ended December 31, 2018 Land Buildings and improvements Production equipment Vehicles, furniture and fixtures Work in progress Spare parts Right-of-use assets Total Values at the beginning of the year Cost 562,042 2,096,959 4,927,478 151,883 456,021 113,188 — 8,307,571 Accumulated depreciation — (563,523 ) (2,286,828 ) (104,303 ) — (3,164 ) — (2,957,818 ) Net book value at January 1, 2018 562,042 1,533,436 2,640,650 47,580 456,021 110,024 — 5,349,753 Opening net book value 562,042 1,533,436 2,640,650 47,580 456,021 110,024 — 5,349,753 Effect of initial inflation adjustment (Note 4 (cc)) 19,646 434,683 282,577 5,698 25,568 19,858 — 788,030 Translation differences (2,217 ) (140,879 ) (124,066 ) (5,102 ) (29,005 ) (10,836 ) — (312,105 ) Additions 1,888 4,083 3,647 3,569 446,002 23,880 — 483,069 Capitalized borrowing costs — — — — 7,368 — — 7,368 Disposals / Consumptions — (93 ) (2,186 ) (1,236 ) (3,563 ) (24,470 ) — (31,548 ) Transfers 5,815 80,197 187,284 11,726 (284,441 ) 2,543 — 3,124 Depreciation charge — (129,229 ) (315,952 ) (14,847 ) — (10,055 ) — (470,083 ) Closing net book value 587,174 1,782,198 2,671,954 47,388 617,950 110,945 5,817,609 Values at the end of the year Cost 587,174 3,303,174 6,803,932 264,782 617,950 124,220 — 11,701,232 Accumulated depreciation — (1,520,976 ) (4,131,978 ) (217,394 ) — (13,275 ) — (5,883,623 ) Net book value at December 31, 2018 587,174 1,782,198 2,671,954 47,388 617,950 110,945 — 5,817,609 12. PROPERTY, PLANT AND EQUIPMENT, NET (continued) (2) Right-of-use assets Buildings and improvements Production equipment Vehicles, furniture and fixtures Total Values at the beginning of the year Cost — 55,288 — 55,288 Accumulated depreciation — (5,918 ) — (5,918 ) Net book value at January 1, 2019 — 49,370 — 49,370 Opening net book value — 49,370 — 49,370 Effect of initial recognition under IFRS 16 226,936 52,469 1,088 280,493 Translation differences (115 ) (1,148 ) — (1,263 ) Net additions 18,931 21,933 — 40,864 Disposal/Derecognition — (18,094 ) (807 ) (18,901 ) Depreciation charge (28,895 ) (14,929 ) (281 ) (44,105 ) Closing net book value 216,857 89,601 — 306,458 Values at the end of the year Cost 245,752 110,176 — 355,928 Accumulated depreciation (28,895 ) (20,575 ) — (49,470 ) Net book value at December 31, 2019 216,857 89,601 — 306,458 The cost related to variable-lease payments that do not depend on an index or rate amounted to USD 17.4 million for the year ended December 31, 2019. The expenses related to leases for which the Company applied the practical expedient described in paragraph 5 (a) of IFRS 16 (leases with contract term of less than 12 months) amounted to USD 3.4 million for the year ended December 31, 2019.

INTANGIBLE ASSETS, NET

INTANGIBLE ASSETS, NET	12 Months Ended
	Dec. 31, 2019
Disclosure of detailed information about intangible assets [abstract]
INTANGIBLE ASSETS, NET	INTANGIBLE ASSETS, NET Year ended December 31, 2019 Information system projects Mining assets Exploration and evaluation costs Customer relationships and other contractual rights Trademarks Goodwill Total Values at the beginning of the year Cost 320,600 216,203 23,209 604,931 73,935 662,307 1,901,185 Accumulated depreciation (248,839 ) (139,915 ) — (425,972 ) (73,935 ) — (888,661 ) Net book value at January 1, 2019 71,761 76,288 23,209 178,959 — 662,307 1,012,524 Opening net book value 71,761 76,288 23,209 178,959 — 662,307 1,012,524 Translation differences (463 ) — — — — — (463 ) Additions 31,812 12,580 24,265 — — — 68,657 Disposals / Consumptions — — — — — — — Transfers (738 ) 27,954 (27,952 ) — — — (736 ) Depreciation charge (27,991 ) (12,305 ) — (95,848 ) — — (136,144 ) Closing net book value 74,381 104,517 19,522 83,111 — 662,307 943,838 Values at the end of the year Cost 342,857 256,736 19,522 604,929 73,935 662,307 1,960,286 Accumulated depreciation (268,476 ) (152,219 ) — (521,818 ) (73,935 ) — (1,016,448 ) Net book value at December 31, 2019 74,381 104,517 19,522 83,111 — 662,307 943,838 Year ended December 31, 2018 Information system projects Mining assets Exploration and evaluation costs Customer relationships and other contractual rights Trademarks Goodwill Total Values at the beginning of the year Cost 249,379 216,196 10,333 604,931 73,935 662,307 1,817,081 Accumulated depreciation (188,470 ) (121,859 ) — (340,238 ) (73,935 ) — (724,502 ) Net book value at January 1, 2018 60,909 94,337 10,333 264,693 — 662,307 1,092,579 Opening net book value 60,909 94,337 10,333 264,693 — 662,307 1,092,579 Effect of initial inflation adjustment (Note 4 (cc)) 4,966 — — — — — 4,966 Translation differences (6,674 ) — — — — — (6,674 ) Additions 27,594 10,243 2,641 — — — 40,478 Disposals / Consumptions (87 ) — — — — — (87 ) Transfers 480 (10,237 ) 10,235 — — — 478 Depreciation charge (15,427 ) (18,055 ) — (85,734 ) — — (119,216 ) Closing net book value 71,761 76,288 23,209 178,959 — 662,307 1,012,524 Values at the end of the year Cost 320,600 216,203 23,209 604,931 73,935 662,307 1,901,185 Accumulated depreciation (248,839 ) (139,915 ) — (425,972 ) (73,935 ) — (888,661 ) Net book value at December 31, 2018 71,761 76,288 23,209 178,959 — 662,307 1,012,524 The Company has not registered any impairment charges in connection with Goodwill.

INVESTMENTS IN NON-CONSOLIDATED

INVESTMENTS IN NON-CONSOLIDATED COMPANIES	12 Months Ended
	Dec. 31, 2019
Disclosure of interests in other entities [Abstract]
INVESTMENTS IN NON-CONSOLIDATED COMPANIES	INVESTMENTS IN NON-CONSOLIDATED COMPANIES As of December 31, 2019 2018 At the beginning of the year 495,241 478,348 Equity in earnings of non-consolidated companies 60,967 102,772 Other comprehensive income (39,449 ) (77,042 ) Dividends from non-consolidated companies (3,111 ) (8,837 ) At the end of the year 513,648 495,241 The principal investments in non-consolidated companies, all of which are unlisted, except for Usiminas, are: Voting rights at Value at Company Country of incorporation Main activity December 31, 2019 December 31, 2018 December 31, 2019 December 31, 2018 Usinas Siderurgicas de Minas Gerais S.A. - USIMINAS Brazil Manufacturing and selling of steel products 34.39 % 34.39 % 486,643 480,084 Techgen S.A. de C.V. Mexico Provision of electric power 48.00 % 48.00 % 21,573 10,291 Other non-consolidated companies (1) 5,432 4,866 513,648 495,241 (1) It includes the investment held in Finma S.A.I.F., Techinst S.A., Recrotek S.R.L. de C.V. and Gas Industrial de Monterrey S.A. de C.V. (a) Usinas Siderurgicas de Minas Gerais S.A. – USIMINAS Ternium, through its subsidiaries Ternium Investments S.à r.l. (“Ternium Investments”), Ternium Argentina S.A. (“Ternium Argentina”) and Prosid Investments S.A. (“Prosid”), owns a total of 242.6 million ordinary shares and 8.5 million preferred shares, representing 20.5% of the issued and outstanding share capital of Usinas Siderurgicas de Minas Gerais S.A. - USIMINAS (“Usiminas”), the largest flat steel producer in Brazil. Ternium Investments, Ternium Argentina and Prosid, together with Tenaris S.A.’s Brazilian subsidiary Confab Industrial S.A. (“TenarisConfab”), are part of Usiminas’ control group, comprising the so-called T/T Group. The other members of Usiminas’ control group are Previdência Usiminas (Usiminas’ employee pension fund) and the so-called NSSMC Group, comprising Nippon Steel & Sumitomo Metal Corporation Group (“NSSMC”), Nippon Usiminas Co., Ltd., Metal One Corporation and Mitsubishi Corporation do Brasil, S.A. As of December 31, 2019, the closing price of the Usiminas ordinary and preferred shares, as quoted on the BM&F Bovespa Stock Exchange, was BRL 9.87 (approximately $ 2.45 ; December 31, 2018: BRL 11.44 - $ 2.95 ) per ordinary share and BRL 9.51 (approximately $ 2.36 ; December 31, 2018: BRL 9.22 - $ 2.38 ) per preferred share, respectively. Accordingly, as of December 31, 2019, Ternium’s ownership stake had a market value of approximately $ 614.1 million and a carrying value of $ 486.6 million . The Company reviews periodically the recoverability of its investment in Usiminas. To determine the recoverable value, the Company estimates the value in use of the investment by calculating the present value of the expected cash flows or its fair value less costs of disposal. 14. INVESTMENTS IN NON-CONSOLIDATED COMPANIES (continued) As of December 31, 2019 and 2018 , the value of the investment in Usiminas is comprised as follows: USIMINAS Value of investment As of December 31, 2019 As of December 31, 2018 At the beginning of the year 480,084 466,299 Share of results (1) 48,502 97,733 Other comprehensive income (38,896 ) (75,195 ) Dividends (3,047 ) (8,753 ) At the end of the year 486,643 480,084 (1) It includes the adjustment of the values associated to the purchase price allocation. The investment in Usiminas is based in the following calculation: Usiminas' shareholders' equity 3,484,115 Percentage of interest of the Company over shareholders' equity 20.42 % Interest of the Company over shareholders' equity 711,558 Purchase price allocation 73,264 Goodwill 257,879 Impairment (556,058 ) Total Investment in Usiminas 486,643 On February 14, 2020, Usiminas issued its annual accounts as of and for the year ended December 31, 2019 . USIMINAS Summarized balance sheet (in million $) As of December 31, 2019 As of December 31, 2018 Assets Non-current 4,336 4,697 Current 1,721 1,711 Other current investments 166 151 Cash and cash equivalents 311 286 Total Assets 6,534 6,845 Liabilities Non-current 718 544 Non-current borrowings 1,237 1,389 Current 687 740 Current borrowings 30 121 Total Liabilities 2,672 2,794 Non-controlling interest 378 369 Shareholders' equity 3,484 3,682 14. INVESTMENTS IN NON-CONSOLIDATED COMPANIES (continued) USIMINAS Summarized income statement (in million $) As of December 31, 2019 As of December 31, 2018 Net sales 3,790 3,766 Cost of sales (3,312 ) (3,154 ) Gross Profit 478 612 Selling, general and administrative expenses (181 ) (213 ) Other operating income (loss), net (100 ) (153 ) Operating income 197 246 Financial expenses, net (132 ) 15 Equity in earnings of associated companies 46 70 Profit (Loss) before income tax 110 331 Income tax benefit (16 ) (110 ) Net profit (loss) before non-controlling interest 94 221 Non-controlling interest in other subsidiaries (41 ) (28 ) Net profit (loss) for the year 53 193 (b) Techgen S.A. de C.V. Techgen is a Mexican natural gas-fired combined cycle electric power plant in the Pesquería area of the State of Nuevo León, Mexico. The company started producing energy on December 1st, 2016 and is fully operational. As of February 2017, Ternium, Tenaris, and Tecpetrol International S.A. (a wholly-owned subsidiary of San Faustin S.A., the controlling shareholder of both Ternium and Tenaris) completed their investments in Techgen. Techgen is currently owned 48% by Ternium, 30% by Tecpetrol and 22% by Tenaris. Ternium and Tenaris also agreed to enter into power supply and transportation agreements with Techgen, pursuant to which Ternium and Tenaris will contract 78% and 22% , respectively, of Techgen’s power capacity of 900 megawatts. During 2017 and 2016, Techgen’s shareholders made additional investments in Techgen, in the form of subordinated loans, which in the case of Ternium amounted to $ 127.7 million as of December 31, 2019, and which are due in June 2026. For commitments from Ternium in connection with Techgen, see note 25.

RECEIVABLES, NET - NON CURRENT

RECEIVABLES, NET - NON CURRENT AND CURRENT	12 Months Ended
	Dec. 31, 2019
Receivables, net [Abstract]
RECEIVABLES, NET - NON CURRENT AND CURRENT	RECEIVABLES, NET – NON CURRENT AND CURRENT As of December 31, 2019 2018 Receivables with related parties (Notes 26 and 14 (b)) 126,948 151,388 Employee advances and loans 1,572 2,425 Advances to suppliers for the purchase of property, plant and equipment 50,079 74,741 Advances to suppliers for the purchase of property, plant and equipment with related parties (Note 26) 7,827 7,493 Other receivables (Note 3 (c) (iii)) 254,446 264,683 Tax credits 150,721 146,711 Others 972 2,006 Receivables, net – Non-current 592,565 649,447 As of December 31, 2019 2018 Value added tax 162,121 156,627 Tax credits 99,315 72,957 Employee advances and loans 3,667 4,701 Advances to suppliers 10,134 15,563 Advances to suppliers with related parties (Note 26) 16,126 2,854 Expenses paid in advance 9,781 15,862 Government tax refunds on exports 14,805 17,311 Receivables with related parties (Note 26) 3,696 9,536 Others 15,068 14,339 Receivables, net – Current 334,713 309,750

TRADE RECEIVABLES, NET - NON CU

TRADE RECEIVABLES, NET - NON CURRENT AND CURRENT	12 Months Ended
	Dec. 31, 2019
Trade and other receivables [abstract]
TRADE RECEIVABLES, NET - NON CURRENT AND CURRENT	TRADE RECEIVABLES, NET – NON CURRENT AND CURRENT As of December 31, 2019 2018 Trade receivables 897 4,766 Trade receivables, net – Non-current 897 4,766 Current accounts 920,937 1,096,072 Trade receivables with related parties (Note 26) 41,696 46,744 Allowance for doubtful accounts (Note 19) (12,961 ) (14,346 ) Trade receivables, net - Current 949,672 1,128,470 Trade receivables, net as of December 31, 2019 Total Fully performing Past due Guaranteed 469,087 424,052 45,035 Not guaranteed 494,443 453,184 41,259 Trade receivables 963,530 877,236 86,294 Allowance for doubtful accounts (Note 19) (12,961 ) — (12,961 ) Trade receivables, net 950,569 877,236 73,333 Trade receivables, net as of December 31, 2018 Total Fully performing Past due Guaranteed 564,015 502,822 61,193 Not guaranteed 583,567 532,214 51,353 Trade receivables 1,147,582 1,035,036 112,546 Allowance for doubtful accounts (Note 19) (14,346 ) — (14,346 ) Trade receivables, net 1,133,236 1,035,036 98,200

INVENTORIES, NET

INVENTORIES, NET	12 Months Ended
	Dec. 31, 2019
Subclassifications of assets, liabilities and equities [abstract]
INVENTORIES, NET	INVENTORIES, NET As of December 31, 2019 2018 Raw materials, materials and spare parts 731,901 850,182 Goods in process 975,553 1,187,071 Finished goods 396,401 464,154 Goods in transit 116,610 243,876 Obsolescence allowance (Note 19) (62,167 ) (55,454 ) Inventories, net 2,158,298 2,689,829

CASH, CASH EQUIVALENTS AND OTHE

CASH, CASH EQUIVALENTS AND OTHER INVESTMENTS - NON CURRENT AND CURRENT	12 Months Ended
	Dec. 31, 2019
Cash, cash equivalents and other investments [Abstract]
CASH, CASH EQUIVALENTS AND OTHER INVESTMENTS - NON CURRENT AND CURRENT	CASH, CASH EQUIVALENTS AND OTHER INVESTMENTS – NON CURRENT AND CURRENT As of December 31, 2019 2018 Investments in companies under cost method 252 252 Investments in debt instruments 3,001 6,943 Other investments, net – Non-current 3,253 7,195 As of December 31, 2019 2018 (i) Other investments Other deposits with maturity of more than three months 212,271 44,529 Other investments - Current 212,271 44,529 (ii) Cash and cash equivalents Cash and banks 115,575 87,863 Restricted cash 69 2,216 Short-term bank deposits 199,878 140,456 Other deposits with maturity of less than three months 204,443 20,006 Cash and cash equivalents 519,965 250,541

ALLOWANCES AND PROVISIONS - NON

ALLOWANCES AND PROVISIONS - NON CURRENT AND CURRENT	12 Months Ended
	Dec. 31, 2019
Provisions [abstract]
ALLOWANCES AND PROVISIONS - NON CURRENT AND CURRENT	ALLOWANCES AND PROVISIONS – NON CURRENT AND CURRENT Provisions and allowances - Non current Liabilities Liabilities Legal claims and other matters Asset retirement obligation Year ended December 31, 2019 Values at the beginning of the year 643,950 24,554 Translation differences (25,701 ) 1,077 Additions 2,689 925 Reversals (4,417 ) — Uses (3,170 ) — At December 31, 2019 613,351 26,556 Year ended December 31, 2018 Values at the beginning of the year 768,517 27,829 Effect of initial inflation adjustment (note 4 (cc)) 1,315 — Translation differences (113,571 ) 82 Additions 6,438 5,383 Reversals (14,097 ) (8,740 ) Uses (4,652 ) — At December 31, 2018 643,950 24,554 19. ALLOWANCES AND PROVISIONS – NON CURRENT AND CURRENT (continued) Provisions and allowances - Current Deducted from assets Liabilities Allowance for doubtful accounts Obsolescence allowance Asset retirement obligation Year ended December 31, 2019 Values at the beginning of the year 14,346 55,454 9,851 Translation differences (285 ) (458 ) 348 Additions 787 18,036 5,201 Reversals (1,080 ) (9,623 ) — Uses (807 ) (1,242 ) (6,898 ) At December 31, 2019 12,961 62,167 8,502 Year ended December 31, 2018 Values at the beginning of the year 16,543 36,197 2,659 Effect of initial inflation adjustment (note 4 (cc)) 202 6,530 — Translation differences (2,076 ) (2,384 ) (10 ) Additions 2,732 22,822 7,659 Reversals (1,103 ) (5,500 ) — Uses (1,952 ) (2,211 ) (457 ) At December 31, 2018 14,346 55,454 9,851

DEFERRED INCOME TAX

DEFERRED INCOME TAX	12 Months Ended
	Dec. 31, 2019
Deferred income tax [Abstract]
DEFERRED INCOME TAX	INCOME TAX EXPENSE Income tax expense for each of the years presented is as follows: Year ended December 31, 2019 2018 2017 Current tax (256,460 ) (588,773 ) (450,384 ) Effect of changes in tax law (1) 4,178 (28,596 ) — Deferred tax (Note 20) Deferred tax 38,785 232,485 106,047 Effect of changes in tax law (1) 16,979 — 7,455 Recovery of income tax (2) — 15,449 — Income tax expense (196,519 ) (369,435 ) (336,882 ) (1) For 2019 , it includes mainly the application of the new tax law in Argentina that enables the tax inflation adjustment. The reduction of the tax rate in Argentina enacted in 2017 was modified in 2019, setting the corporate income tax rate to 30% for the year 2020 and to 25% from the year 2021 going forward. For 2018, it includes mainly the option exercised by the Company of the asset revaluation for tax purpose in Argentina, for which an amount of $ 28.6 million s was included. For 2017, it includes the effects of the Argentine tax reform, which became effective starting January 1, 2018, including a reduction in the corporate income tax rate from 35% to 30% during the first two years (i.e., fiscal years starting on or after January 1, 2018 until December 31, 2019, inclusive) and to 25% going forward. Also, a one-time tax on an asset revaluation for tax purposes was approved. It also includes the effects of the U.S. tax reform, which among other provisions, reduced the U.S. corporate tax rate from 35% to 21% , effective January 1, 2018. This required a revaluation of the deferred tax assets and liabilities and certain current tax payables to the newly enacted tax rates at the date of enactment. Consequently, the Company has recorded a net adjustment to deferred income tax benefit of $ 5.2 million for the year ended December 31, 2017. (2) It includes the recovery of tax credits in Ternium Brasil Ltda. Income tax expense for the years ended December 31, 2019 , 2018 and 2017 differed from the amount computed by applying the statutory income tax rate in force in each country in which the company operates to pre-tax income as a result of the following: Year ended December 31, 2019 2018 2017 Income before income tax 826,564 2,031,567 1,359,809 Income tax expense at statutory tax rate (247,592 ) (604,493 ) (387,666 ) Non taxable income 71,101 102,870 16,232 Non deductible expenses (476 ) (16,201 ) (24,070 ) Effect of currency translation on tax base (1) 33,133 161,536 51,167 Increase of unrecognized tax losses carried-forward (73,842 ) — — Recovery of income tax — 15,449 — Effect of changes in tax law 21,157 (28,596 ) 7,455 Income tax expense (196,519 ) (369,435 ) (336,882 ) (1) Ternium applies the liability method to recognize deferred income tax on temporary differences between the tax bases of assets and their carrying amounts in the financial statements. By application of this method, Ternium recognizes gains and losses on deferred income tax due to the effect of the change in the value on the tax basis in subsidiaries, which have a functional currency different to their local currency, mainly Mexico. Tax rates used to perform the reconciliation between tax expense (income) and accounting profit are those in effect at each relevant date or period in each applicable jurisdiction. DEFERRED INCOME TAX Deferred income taxes are calculated in full on temporary differences under the liability method using the tax rate of the applicable country. Changes in deferred income tax are as follows: As of December 31, 2019 2018 At the beginning of the year (340,207 ) (392,265 ) Translation differences 25,166 (7,201 ) Effect of changes in tax law (Note 11) 16,979 — Effect of initial inflation adjustment — (182,773 ) Credits (Charges) directly to other comprehensive income 19,537 9,547 Deferred tax (charge) credit (Note 11) 38,785 232,485 At the end of the year (239,740 ) (340,207 ) 20. DEFERRED INCOME TAX (continued) 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, 2019 At the beginning of the year (522,455 ) (41,316 ) (15,926 ) (1,088 ) (580,785 ) Translation differences 27,077 2,604 316 — 29,997 Income statement credit (charge) 58,002 (24,748 ) (1,499 ) (101 ) 31,654 At the end of the year (437,376 ) (63,460 ) (17,109 ) (1,189 ) (519,134 ) Deferred tax assets Provisions Trade receivables Tax losses (1) Other Total at December 31, 2019 At the beginning of the year 72,947 11,265 33,382 122,984 240,578 Translation differences (572 ) (539 ) — (3,720 ) (4,831 ) Credits (Charges) directly to other comprehensive income — — — 19,537 19,537 Effect of changes in tax law — — — 16,979 16,979 Income statement credit (charge) (26,721 ) (526 ) 9,384 24,994 7,131 At the end of the year 45,654 10,200 42,766 180,774 279,394 (1) As of December 31, 2019 , the recognized deferred tax assets on tax losses amount to $ 42,766 and there are net unrecognized deferred tax assets of $ 0.4 billion and unrecognized tax losses amounting to $ 1.4 billion . These two last effects are connected to the acquisition of Ternium Brasil (see Note 3). Deferred tax liabilities PP&E Inventories Intangible assets Other Total at December 31, 2018 At the beginning of the year (539,839 ) (57,006 ) (18,692 ) (2,056 ) (617,593 ) Translation differences 9,726 527 497 (688 ) 10,062 Effect of initial inflation adjustment (161,044 ) (20,967 ) (762 ) — (182,773 ) Income statement credit (charge) 168,702 36,130 3,031 1,656 209,519 At the end of the year (522,455 ) (41,316 ) (15,926 ) (1,088 ) (580,785 ) Deferred tax assets Provisions Trade receivables Tax losses (2) Other Total at December 31, 2018 At the beginning of the year 61,101 8,200 43,355 112,672 225,328 Translation differences (6,036 ) (1,089 ) — (10,137 ) (17,263 ) Charges directly to other comprehensive income — — — 9,547 9,547 Income statement credit (charge) 17,882 4,154 (9,973 ) 10,903 22,966 At the end of the year 72,947 11,265 33,382 122,984 240,578 (2) As of December 31, 2018 , the recognized deferred tax assets on tax losses amount to $ 33,383 and there are net unrecognized deferred tax assets of $ 0.4 billion and unrecognized tax losses amounting to $ 1.3 billion . These two last effects are connected to the acquisition of Ternium Brasil (see note 3). Deferred tax assets and liabilities are offset when the entity a) has a legally enforceable right to set off the recognized amounts; and b) intends to settle the tax on a net basis or to realize the asset and settle the liability simultaneously. 20. DEFERRED INCOME TAX (continued) The amounts shown in the statement of financial position (prior to offsetting the balances within the same tax jurisdiction) include the following: As of December 31, 2019 2018 Deferred tax assets to be recovered after more than 12 months 203,607 153,681 Deferred tax assets to be recovered within 12 months 75,787 86,897 Deferred tax liabilities to be settled after more than 12 months (454,763 ) (538,854 ) Deferred tax liabilities to be settled within 12 months (64,371 ) (41,931 ) (239,740 ) (340,207 )

OTHER LIABILITIES - NON CURRENT

OTHER LIABILITIES - NON CURRENT AND CURRENT	12 Months Ended
	Dec. 31, 2019
Disclosure of other liabilities [Abstract]
OTHER LIABILITIES - NON CURRENT AND CURRENT	OTHER LIABILITIES – NON CURRENT AND CURRENT As of December 31, 2019 2018 (i) Other liabilities - Non current Post-employment benefits 405,935 312,293 Other employee benefits 44,496 38,891 Asset retirement obligation (Note 19) (1) 26,556 24,554 Other 30,616 38,803 Other liabilities – Non-current 507,603 414,541 (1) The asset in connection with this liability is included in Property, plant and equipment. Post-employment benefits The amounts recognized in the consolidated statement of financial position are determined as follows: Post-employment benefits As of December 31, 2019 2018 Present value of unfunded obligations 405,935 312,293 Liability in the statement of financial position 405,935 312,293 21. OTHER LIABILITIES – NON CURRENT AND CURRENT (continued) The amounts recognized in the consolidated income statement are as follows: Post-employment benefits Year ended December 31, 2019 2018 Current service cost 11,776 7,284 Interest cost 27,310 22,578 Total included in labor costs 39,086 29,862 Changes in the liability recognized in the consolidated statement of financial position are as follows: Post-employment benefits As of December 31, 2019 2018 At the beginning of the year 312,293 275,950 Transfers, new participants and funding of the plan (6 ) (3,177 ) Total expense 39,086 29,862 Remeasurements 67,601 38,263 Effect of changes in demographic assumptions 674 22,575 Effect of changes in financial assumptions 55,059 2,272 Effect of experience adjustments 11,868 13,416 Translation differences 12,228 (283 ) Contributions paid (25,267 ) (28,322 ) At the end of the year 405,935 312,293 The principal actuarial assumptions used were as follows: Year ended December 31, Mexico 2019 2018 Discount rate 7.25% 8.75% Compensation growth rate 6.00% - 7.00% 6.00% - 7.00% Year ended December 31, Argentina 2019 2018 Discount rate 6.00% - 7.00% 6.00% - 7.00% Compensation growth rate 2.00% - 3.00% 2.00% - 3.00% 21. OTHER LIABILITIES – NON CURRENT AND CURRENT (continued) The sensitivity of the defined benefit obligation to changes in the weighted principal assumptions is as follows: Impact on defined benefit obligation Change in assumption Increase in assumption Decrease in assumption Discount rate 1.00 % -9.4 % 11.7 % Compensation growth rate 1.00 % 1.8 % -4.3 % Pension growth rate 1.00 % -1.3 % 1.6 % Life expectancy 1 year -1.7 % 1.7 % The estimated future payments for the next five years will be between $ 25.1 million and $ 32.6 million per year. As of December 31, 2019 2018 (ii) Other liabilities - Current Payroll and social security payable 107,999 177,407 VAT liabilities 58,799 79,060 Other tax liabilities 38,153 36,203 Termination benefits 493 1,501 Related Parties (Note 26) 2,074 3,341 Asset retirement obligation (Note 19) 8,502 9,851 Others 24,914 43,853 Other liabilities – Current 240,934 351,216

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2019
Disclosure of detailed information about financial instruments [abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL INSTRUMENTS Net fair values of derivative financial instruments The net fair values of derivative financial instruments at December 31, 2019 and 2018 were as follows: As of December 31, 2019 2018 Contracts with positive fair value Interest rate swap contracts — 818 Foreign exchange contracts 1,196 770 1,196 1,588 Contracts with negative fair value Interest rate swap contracts (17 ) — Foreign exchange contracts (3,007 ) (12,981 ) (3,024 ) (12,981 ) 22. DERIVATIVE FINANCIAL INSTRUMENTS (continued) Derivative financial instruments breakdown is as follows: (a) Interest rate contracts Fluctuations in market interest rates create a degree of risk by affecting the amount of the Company’s interest payments and the value of its floating-rate debt. As of December 31, 2019 , most of the Company’s long-term borrowings were at variable rates. During 2012 and 2013, Tenigal entered into several forward starting interest rate swap agreements in order to fix the interest rate to be paid over an aggregate amount of $ 100 million , at an average rate of 1.92% . These agreements are effective from July 2014, will due on July 2022 and have been accounted for as cash flow hedges. As of December 31, 2019 , the after-tax cash flow hedge reserve related to these agreements amounted to $ (0.1) million . 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, 2017 810 (129 ) 681 (Decrease) / Increase (14 ) (108 ) (122 ) Reclassification to income statement (117 ) 35 (82 ) At December 31, 2018 679 (202 ) 477 (Decrease) / Increase (475 ) 142 (333 ) Reclassification to income statement (276 ) 83 (193 ) At December 31, 2019 (72 ) 23 (49 ) The gross amount of the pre-tax reserve recorded in other comprehensive income at December 31, 2019 (amounting to a loss of $ 0.1 million ) is expected to be reclassified to the income statements in accordance to the payments of interests in connection with the borrowings hedged by these derivative contracts, during 2020 and up to the end of the life of the borrowing in 2022. (b) Foreign exchange contracts From time to time, Ternium’s subsidiaries enter into derivative agreements to manage their exposure to currencies other than the $, in accordance with the Company’s policy for derivative instruments. During 2019 , Ternium Argentina entered into several non-deliverable forward agreements in order to manage the exchange rate exposure generated by Argentine peso-denominated financial assets and liabilities. Furthermore, during 2019 , 2018 and 2017 , Ternium Colombia S.A.S. has entered into non-deliverable forward agreements to manage the exposure of certain actual and future trade receivables denominated in its local currency. As of December 31, 2019 , the notional amounts on these agreements amounted to $ 70.2 million. During 2018 and 2017, Ternium Mexico entered into a forward agreement in order to manage the exchange rate exposure generated by future payables in EUR related to the investment plan. As of December 31, 2019, the notional amount on this agreement amounted to $ 146.5 million . During 2019 and 2018, Ternium Investments S.à.r.l., entered into a several forward agreements in order to manage the exchange rate exposure generated by the consolidated financial position in EUR, including future payables in EUR related to the investment plan of Ternium del Atlántico and future receivables in EUR related to sales of Ternium Internacional España, among others. As of December 31,2019, the notional amount on these agreements amounted to $ 10.9 million . 22. DERIVATIVE FINANCIAL INSTRUMENTS (continued) The net fair values of the exchange rate derivative contracts as of December 31, 2019 and December 31, 2018 were as follows: Fair value at December 31, Currencies Contract Notional amount 2019 2018 EUR/$ ND Forward - Buy EUR 140.8 million EUR 1,196 (12,954 ) COP/$ ND Forward - Sell COP 241.9 billion COP (3,007 ) 109 BRL/$ ND Forward - Buy BRL 34.5 million BRL — (493 ) EUR/$ ND Forward - Sell EUR 1.9 million EUR — (27 ) BRL/$ ND Forward - Sell BRL 32.0 million BRL — 1,154 (1,811 ) (12,211 ) COP: Colombian pesos; EUR: E.U. euros; $: U.S. dollars; BRL: Brazilian reais.

LEASE LIABILITIES

LEASE LIABILITIES	12 Months Ended
	Dec. 31, 2019
Disclosure of leases [Abstract]
LEASE LIABILITIES	LEASE LIABILITIES Lease liabilities Current Non Current Total Values at the beginning of the year 8,030 65,798 73,828 Effect of initial recognition under IFRS 16 34,848 245,645 280,493 Translation differences 2,659 (7,139 ) (4,480 ) Net proceeds 1,474 24,545 26,019 Repayments (38,569 ) — (38,569 ) Interest accrued 16,755 — 16,755 Interest paid (15,281 ) — (15,281 ) Reclassifications 30,630 (30,630 ) — As of December 31, 2019 40,546 298,219 338,765 The weighted average lessee's incremental borrowing rate applied to the lease liabilities on January 1, 2019, was of 4.05% . 23. LEASE LIABILITIES (continued) As of December 31, 2019 As of December 31, 2018 Commitments in relation to finance leases are payable as follows: Within one year 55,670 8,328 Later than one year but not later than five years 197,956 33,312 Later than five years 204,101 71,482 Minimum lease payments 457,727 113,122 Future finance charges (118,962 ) (39,294 ) Total Financial lease liabilities 338,765 73,828 The present value of finance lease liabilities is as follows: Within one year 40,546 8,030 Later than one year but not later than five years 149,830 27,208 Later than five years 148,389 38,590 Total minimum lease payments 338,765 73,828

BORROWINGS

BORROWINGS	12 Months Ended
	Dec. 31, 2019
Borrowings [abstract]
BORROWINGS	BORROWINGS As of December 31, 2019 2018 (i) Non-current Bank borrowings 1,639,604 1,648,124 Less: debt issue costs (10,712 ) (11,023 ) 1,628,892 1,637,101 (ii) Current Bank borrowings 564,497 404,390 Less: debt issue costs (4,715 ) (4,534 ) 559,782 399,856 Total Borrowings 2,188,674 2,036,957 The maturity of borrowings is as follows: Expected Maturity Date 2022 and At December 31, (1) 2020 2021 thereafter 2019 2018 Fixed Rate 165,623 — — 165,623 289,883 Floating Rate 394,159 308,847 1,320,045 2,023,051 1,747,074 Total 559,782 308,847 1,320,045 2,188,674 2,036,957 (1) As most borrowings incorporate floating rates that approximate market rates and the contractual repricing occurs mostly every 1 month, the fair value of the borrowings approximates their carrying amount and it is not disclosed separately. Fixed rate borrowings are uncommitted short-term revolving loans and their fair value approximates to their carrying amount. The weighted average interest rates - which incorporate instruments denominated mainly in U.S. dollars and which do not include the effect of derivative financial instruments nor the devaluation of these local currencies - at year-end were as follows: As of December 31, 2019 2018 Bank borrowings 2.94 % 3.65 % The nominal average interest rates shown above were calculated using the rates set for each instrument in its corresponding currency and weighted using the dollar-equivalent outstanding principal amount of said instruments at December 31, 2019 and 2018 , respectively. 24. BORROWINGS (continued) Breakdown of borrowings by currency is as follows: As of December 31, Currencies Contract 2019 2018 USD Floating 1,977,617 1,747,074 USD Fixed 148,712 262,873 ARS Floating 10 — MXN Floating 14,789 — COP Floating 30,634 — COP Fixed 16,912 17,009 GTQ Fixed — 10,001 2,188,674 2,036,957 USD: U.S. dollars; ARS: Argentine pesos; COP: Colombian pesos; GTQ: Guatemalan quetzales; MXN: Mexican pesos. Ternium’s most significant borrowings as of December 31, 2019 , were those incurred under Ternium México’s syndicated loan facilities, in order to finance the construction of its hot rolling mill, hot-dip galvanizing and painting lines in Pesqueria, under Tenigal’s syndicated loan facility, in order to finance the construction of its hot-dipped galvanizing mill in Pesquería, Mexico, under Ternium Investments S.à r.l., in order to finance the acquisition of Ternium Brasil, and under Ternium Brasil's syndicated loan facility, in order to finance solely activities related to its exports of goods: In $ million Date Borrower Type Original principal amount Outstanding principal amount as of December 31, 2019 Maturity Years 2012 and 2013 Tenigal Syndicated loan 200 75 July 2022 September 2017 Ternium Investments S.à r.l. Syndicated loan 1,500 400 September 2022 June 2018 Ternium Mexico Syndicated loan 1,000 875 June 2023 August 2019 Ternium Brasil Syndicated loan 1,000 400 August 2024 The main covenants on these loan agreements are limitations on liens and encumbrances, limitations on the sale of certain assets and compliance with financial ratios (i.e. leverage ratio). As of December 31, 2019 , Ternium was in compliance with all of its covenants.

CONTINGENCIES, COMMITMENTS AND

CONTINGENCIES, COMMITMENTS AND RESTRICTIONS ON THE DISTRIBUTION OF PROFITS	12 Months Ended
	Dec. 31, 2019
Disclosure of commitments and contingencies [Abstract]
CONTINGENCIES, COMMITMENTS AND RESTRICTIONS ON THE DISTRIBUTION OF PROFITS	CONTINGENCIES, COMMITMENTS AND RESTRICTIONS ON THE DISTRIBUTION OF PROFITS Ternium is from time to time subject to various claims, lawsuits and other legal proceedings, including customer, employee, tax and environmental-related claims, in which third parties are seeking payment for alleged damages, reimbursement for losses, or indemnity. Management with the assistance of legal counsel periodically reviews the status of each significant matter and assesses potential financial exposure. Some of these claims, lawsuits and other legal proceedings involve highly complex issues, and often these issues are subject to substantial uncertainties and, therefore, the probability of loss and an estimation of damages are difficult to ascertain. Accordingly, with respect to a large portion of such claims, lawsuits and other legal proceedings, Ternium is unable to make a reliable estimate of the expected financial effect that will result from ultimate resolution of the proceeding. In those cases, Ternium has not accrued a provision for the potential outcome of these cases. If a potential loss from a claim, lawsuit or other proceeding is considered probable and the amount can be reasonably estimated, a provision is recorded. Accruals for loss contingencies reflect a reasonable estimate of the losses to be incurred based on information available to management as of the date of preparation of the financial statements and take into consideration litigation and settlement strategies. In a limited number of ongoing cases, Ternium was able to make a reliable estimate of the expected loss or range of probable loss and has accrued a provision for such loss but believes that publication of this information on a case-by-case basis would seriously prejudice Ternium’s position in the ongoing legal proceedings or in any related settlement discussions. Accordingly, in these cases, the Company has disclosed information with respect to the nature of the contingency but has not disclosed its estimate of the range of potential loss. The Company believes that the aggregate provisions recorded for potential losses in its consolidated financial statements are adequate based upon currently available information. However, if management’s estimates prove incorrect, current reserves could be inadequate and Ternium could incur a charge to earnings which could have a material adverse effect on Ternium’s results of operations, financial condition, net worth and cash flows. For the contingencies related to Ternium Brasil, please refer to Note 3. (i) Tax claims and other contingencies (a) Companhia Siderúrgica Nacional (CSN) – Tender offer litigation In 2013, the Company was notified of a lawsuit filed in Brazil by Companhia Siderúrgica Nacional, or CSN, and various entities affiliated with CSN against Ternium Investments, its subsidiary Ternium Argentina, and TenarisConfab. The entities named in the CSN lawsuit had acquired a participation in Usiminas in January 2012. The CSN lawsuit alleges that, under applicable Brazilian laws and rules, the acquirers were required to launch a tag-along tender offer to all non-controlling holders of Usiminas ordinary shares for a price per share equal to 80% of the price per share paid in such acquisition, or BRL 28.8 , and seeks an order to compel the acquirers to launch an offer at that price plus interest. If so ordered, the offer would need to be made to 182,609,851 ordinary shares of Usiminas not belonging to Usiminas’ control group; Ternium Investments and Ternium Argentina’s respective shares in the offer would be 60.6% and 21.5% . On September 23, 2013, the first instance court dismissed the CSN lawsuit, and on February 8, 2017, the court of appeals of São Paulo maintained the understanding of the first instance court. On March 6, 2017, CSN filed a motion for clarification against the decision of the court of appeals, which was rejected on July 19, 2017. On August 18, 2017, CSN filed with the court of appeals an appeal seeking the review and reversal of the decision issued by the court of appeals by the Superior Court of Justice. On March 5, 2018, the court of appeals ruled that CSN’s appeal did not meet the requirements for review by the Superior Court of Justice and rejected such appeal. On May 8, 2018, CSN appealed against such ruling and on January 22, 2019, the court of appeals rejected such appeal and ordered that the case be submitted to the Superior Court of Justice. On September 10, 2019, the Superior Court of Justice declared CSN’s appeal admissible. The Superior Court of Justice will review the case and will then render a decision on the merits. The Superior Court of Justice is restricted to the analysis of alleged violations to federal laws and cannot assess matters of fact. 25. CONTINGENCIES, COMMITMENTS AND RESTRICTIONS ON THE DISTRIBUTION OF PROFITS (continued) Ternium continues to believe that all of CSN’s claims and allegations are groundless and without merit, as confirmed by several opinions of Brazilian legal counsel, two decisions issued by the Brazilian securities regulator (CVM) in February 2012 and December 2016, and the first and second instance court decisions referred to above. Accordingly, no provision has been recorded in these Consolidated Financial Statements. (b) Shareholder claims relating to the October 2014 acquisition of Usiminas shares On April 14, 2015, the staff of CVM, determined that an acquisition of additional ordinary shares of Usiminas by Ternium Investments made in October 2014, triggered a requirement under applicable Brazilian laws and regulations for Usiminas’ controlling shareholders to launch a tender offer to all non-controlling holders of Usiminas ordinary shares. The CVM staff’s determination was made further to a request by NSSMC and its affiliates, who alleged that Ternium’s 2014 acquisition had exceeded a threshold that triggers the tender offer requirement. In the CVM staff’s view, the 2014 acquisition exceeded the applicable threshold by 5.2 million shares. On April 29, 2015, Ternium filed an appeal to be submitted to the CVM’s Board of Commissioners. On May 5, 2015, the CVM staff confirmed that the appeal would be submitted to the Board of Commissioners and that the effects of the staff’s decision would be stayed until such Board rules on the matter. On June 15, 2015, upon an appeal filed by NSSMC, the CVM staff changed its earlier decision and stated that the obligation to launch a tender offer would fall exclusively on Ternium. Ternium’s appeal has been submitted to the CVM’s Board of Commissioners and it is currently expected that such Board will rule on the appeal in 2020. In addition, on April 18, 2018, Ternium filed a petition with the CVM’s reporting Commissioner requesting that the applicable threshold for the tender offer requirement be recalculated taking into account the new ordinary shares issued by Usiminas in connection with its 2016 BRL 1 billion capital increase and that, in light of the replenishment of the threshold that would result from such recalculation, the CVM staff’s 2015 determination be set aside.In the event the appeal is not successful, under applicable CVM rules Ternium may elect to sell to third parties the 5.2 million shares allegedly acquired in excess of the threshold, in which case no tender offer would be required. (c) Potential Mexican income tax adjustment In March 2015, the Mexican tax authorities, as part of a tax audit to Ternium Mexico with respect to fiscal year 2008, challenged the deduction by Ternium Mexico’s predecessor IMSA Acero of a tax loss arising from an intercompany sale of shares in December 2008. Although the tax authorities have not yet determined the amount of their claim, they have indicated in a preliminary report that they have observations that may result in an income tax adjustment currently estimated at approximately $ 59.7 million , including interest and fines. Additionally, in September 2018, the Mexican tax authority, as a result of a tax audit for the fiscal year 2011 to Ternium Mexico, as predecessor of APM, objected mainly the deduction of the tax loss remaining for the year 2008, for which the estimated income tax adjustment would be of approximately $ 27.3 million , including interest and fines. Ternium Mexico requested an injunction from the Mexican courts against the audit observations for the year 2008 and the fiscal credit of the year 2011, and also filed its defense and supporting documents with the Mexican tax authorities. The Company, based on the advice of counsel, believes that an unfavorable outcome in connection with this uncertain tax position is not probable and, accordingly, no provision has been recorded in its financial statements. 25. CONTINGENCIES, COMMITMENTS AND RESTRICTIONS ON THE DISTRIBUTION OF PROFITS (continued) (d) Putative class action Following the Company’s November 27, 2018 announcement that its chairman Paolo Rocca had been included in an Argentine court investigation known as the Notebooks Case (a decision subsequently reversed by a higher court), a putative class action complaint was filed in the U.S. District Court for the Eastern District of New York. On January 31, 2019, the court appointed lead plaintiff and lead counsel. On June 17, 2019, the lead plaintiff filed an amended complaint purportedly on behalf of purchasers of Ternium securities from May 1, 2014 through November 27, 2018. The individual defendants named in the amended complaint are our chairman, our former CEO, our current CEO and our CFO. That complaint alleges that during the class period, the Company and the individual defendants inflated the price of Ternium’s ADSs by failing to disclose that sale proceeds received by Ternium when Sidor was expropriated by Venezuela were received or expedited as a result of alleged improper payments made to Argentine officials. The complaint does not specify the damages that plaintiff is seeking. Defendants’ motions to dismiss are expected to be decided during 2020. Management believes the Company has meritorious defenses to these claims; however, at this stage the Company cannot predict the outcome of the claim or the amount or range of loss in case of an unfavorable outcome. (ii) Commitments The following are Ternium’s main off-balance sheet commitments: (a)Ternium Argentina signed agreements to cover 80% of its required iron ore, pellets and iron ore fines volumes until December 31, 2021, for an estimated total amount of $ 462.4 million . Although they do not set a minimum amount or a minimum commitment to purchase a fixed volume, under certain circumstances a penalty is established for the party that fails of: - 7% in case the annual operated volume is between 70% and 75% of the total volume of purchases of the Company; such percentage is applied over the difference between the actual purchased volume and the 80% of the total volume of purchases. - 15% in case the annual operated volume is lower than 70% of the total volume of purchases of the Company; such percentage is applied over the difference between the actual purchased volume and the 80% of the total volume of purchases. (b) Ternium Argentina has also signed various contracts for the provision of natural gas, including Tecpetrol, a related company of Ternium, assuming firm commitments for a total of $ 35.9 million payable until April 2021. (c) Ternium Argentina signed an agreement with Air Liquide Argentina S.A. for the supply of oxygen, nitrogen and argon until 2021, for an aggregate amount of $ 15.8 million , wich is due to terminate in 2032. (d) On April 24, 2017, Ternium Mexico entered into a 25 -year contract (effective as of December 1, 2016, through December 1, 2041) with Techgen, S.A. de C.V. for the supply of 699 MW (which represents 78% of Techgen’s capacity) and covers most of Ternium Mexico’s facilities electricity needs. Monthly payments are determined on the basis of capacity charges, operation costs, back-up power charges, and transmission charges. As of the seventh contract year (as long as Techgen’s existing or replacing bank facility has been repaid in full), Ternium Mexico has the right to suspend or early terminate the contract if the rate payable under the agreement is higher than the rate charged by Comisión Federal de Electricidad ("CFE") or its successors. Ternium Mexico may instruct Techgen to sell to any affiliate of Ternium Mexico, to CFE, or to any other third party all or any part of unused contracted energy under the agreement and Ternium Mexico will benefit from the proceeds of such sale. 25. CONTINGENCIES, COMMITMENTS AND RESTRICTIONS ON THE DISTRIBUTION OF PROFITS (continued) (e) On December 20, 2000, Hylsa (Ternium Mexico’s predecessor) entered into a 25 -year contract with Iberdrola Energia Monterrey, S.A. de C.V. (“Iberdrola”), a Mexican subsidiary of Iberdrola Energía, S.A., for the supply of energy to four of Ternium Mexico’s plants. On March 31, 2008, two of those plants were terminated by Iberdrola. The contracted electrical demand as of December 31, 2019, is 51.7 MW. Iberdrola currently supplies approximately 7% of Ternium Mexico’s electricity needs under this contract. Although the contract was to be effective through 2027, on April 28, 2014, Ternium Mexico and Iberdrola entered into a new supply contract and terminated the previous one. In consideration of the termination of the previous contract, Iberdrola has granted Ternium Mexico a credit of $ 750 thousand per MW of the 111.2 MW originally contracted capacity, resulting over time in a total value of $ 83.4 million . In addition, Iberdrola agreed to recognize to Ternium México $ 15.0 million through discounted rates. The above-mentioned credit and discount ended in June 2019 and Ternium México's rates under the contract are now market rates with a 2.5% discount; however, Ternium Mexico will be entitled to terminate the contract without penalty. (f) Following the maturity of a previously existing railroad freight services agreement during 2013, in April 2014, Ternium México and Ferrocarril Mexicano, S. A. de C. V. (“Ferromex”) entered into a new railroad freight services agreement pursuant to which Ferromex will transport Ternium Mexico’s products through railroads operated by Ferromex for a term of five years through 2019. Subject to Ternium’s board approval, both Ternium Mexico and Ferromex would be required to make (within a period of 36 months) certain investments to improve the loading and unloading of gondolas. The total investment commitment of Ternium México and Ferromex was already invested as of December 31, 2019. Under the agreement, Ternium Mexico has guaranteed to Ferromex its service for the minimum average transport load of 200,000 metric tons per month in any six-month period. In the event that the actual per-month average transport loads in any six-month period were lower than such guaranteed minimum, Ternium Mexico would be required to compensate Ferromex for the shortfall so that Ferromex receives a rate equivalent to a total transport load of 1,200,000 metric tons for such six-month period. However, any such compensation will not be payable if the lower transport loads were due to adverse market conditions, or to adverse operating conditions at Ternium Mexico’s facilities. (g) Ternium México issued a guarantee letter covering up to approximately $ 25.0 million of the obligations of Gas Industrial de Monterrey, S.A. de C.V. ("GIMSA"), under the natural gas trading agreement between GIMSA and BP Energía México. The credit line granted by BP Energía México in connection with this natural gas trading agreement amounted to approximately $ 25.0 million . As of December 31, 2019, the outstanding amount under the natural gas trading agreement was $ 14.0 million , which is below the amount included in the guarantee letter issued by Ternium México. (h) On June, 2018, Ternium Mexico entered into a loan agreement with a syndicate of banks for a $ 1,000 million syndicated loan facility for the purpose of financing capital expenditures, the repayment or prepayment of existing debt, and other general corporate purposes. The loan has a one year availability period in which Ternium Mexico can disburse in one or several drawings. The Company entered the Facility on June 12, 2018, and the final maturity date is on June 12, 2023, being payable in eight consecutive and equal semi-annual installments commencing on December 13, 2019. The main financial covenant that the Facility requires to meet is the consolidated net senior leverage ratio to be not greater than 3.5 to 1.00. As of December 31, 2019, $ 1,000 million were disbursed under the facility and the Company complied with the aforementioned financial covenant. (i) Ternium Mexico issued a guarantee letter covering up to approximately $60.8 million of the obligations of Techgen, S.A. de C.V. (“Techgen”), under the Clean Energy Certificates trading agreement between Techgen and Enel Rinnovabile SA de CV (“ENEL”). The amount of the guarantee is equal to 78% of the amount payable by Techgen if Techgen decides to terminate the agreement prior to the expiration date (and therefore decreases as the term of the contract passes). The trading agreement was signed on May 25, 2018, and terminates on June 30, 2041. 25. CONTINGENCIES, COMMITMENTS AND RESTRICTIONS ON THE DISTRIBUTION OF PROFITS (continued) (j) Techgen is a party to gas transportation capacity agreements with Kinder Morgan Gas Natural de Mexico, S. de R.L. de C.V., Kinder Morgan Texas Pipeline LLC and Kinder Morgan Tejas Pipeline LLC for a natural gas transportation capacity of 150,000 million BTU per day starting on August 1, 2016 and ending on July 31, 2036. As of December 31, 2019 , the outstanding value of this commitment was approximately $ 236 million . Ternium’s exposure under the guarantee in connection with these agreements amounts to $ 115 million , corresponding to the 48% of the agreements’ outstanding value as of December 31, 2019 . (k) Ternium issued two stand-by letters of credit covering 48% of the funding of a debt service reserve account under a syndicated loan agreement between Techgen and several banks led by Citigroup Global Markets Inc., Credit Agricole Corporate and Investment Bank, and Natixis, New York Branch acting as joint bookrunners. The loan agreement dated as of February 13, 2019, amounted to $ 640 million and the proceeds were used by Techgen to refinance in full all amounts owed under a previous syndicated loan between Techgen and several banks, which funds were used in the construction of the facility. As of December 31, 2019 , the outstanding aggregated amount under the stand-by letters of credit was $ 44.6 million , as a result the amount guaranteed by Ternium was approximately $ 21.4 million . (l) During 2006, CSA, the predecessor of Ternium Brasil, has entered into a 15 -year contract denominated Contrato de comercialização de energia elétrica no ambiente regulado - CCEAR por disponibilidade to provide electric energy to 24 distributors starting on 2011. Under this contract, Ternium Brasil has to provide 200 MW average per year and the price is adjusted by the Brazilian inflation index. The penalty for not delivering the volume of energy of the contract is the difference between the spot price and the unit variable cost (calculated and published by the Agéncia Nacional de Energía Elétrica), calculated per hour. (m) Ternium Brasil signed an exclusivity agreement with Vale S.A. for the purchase of iron ore (pellets, sinter feed and lump ore), which is due to terminate in 2029. The total purchased volume, in accordance with the actual production capacity, is of approximately 8.0 million tons per year. Ternium Brasil has not the obligation to take or pay the mentioned volume and only should pay logistic costs in case of not purchasing the contracted volume. (n) Ternium Brasil, for its activity of energy generation through gas and steam turbines, signed on March 2017 a contract with GE Global Parts and Products GMBH, General Electric International Inc. and Alstom Energia Térmica e Indústria Ltda. for the maintenance services of such turbines (including the supply of spare parts) for a period of 20 years. As of December 31, 2019 , the outstanding amount of this commitment was $ 157.0 million . (o) Ternium Brasil also signed on November 2007 a contract with Primetals Technologies Brazil Ltda. for the provision of maintenance services at a central workshop for the entire steel mill complex, including caster maintenance for the steel plant. As of December 31, 2019 , the outstanding amount of the mentioned services was approximately $ 89.9 million and is due to terminate on November 2024. Ternium Brasil is currently using more hours than the minimum quantity of contracted hours. (p) Ternium Brasil is a party to a long-term contract with the Consortium formed by Air Liquide Brasil Ltda., AirSteel Ltda., White Martins Gases Industriais Ltda., White Martins Steel Ltda. and ThyssenKrupp MinEnergy GmbH for the supply of air, oxygen, nitrogen and argon to satisfy the requirements up to January 2029. The outstanding amount was approximately $ 307.2 million as of December 31, 2019 . The contract has minimum daily-required volumes. (q) Ternium Brasil signed on January 2015 a contract with Naturgy (formerly Companhia Distribuidora de Gás do Rio de Janeiro) for the supply of natural gas, which was due to terminate on December 2019. This agreement was automatically renewed for another year and is due to terminate on December 2020, but it is still under negotiation. The aggregate amount for the year 2019 was of $ 33.3 million per year or 61.5 million m3 per year. Ternium Brasil is currently purchasing more than the minimum volume required by the contract, which is 85% of the volume mentioned before. (r) Ternium Brasil signed on May 2016 a contract with Stahllog Solução Logísticas Ltda. for logistic services. This agreement is due to terminate on May 2021 and the outstanding amount was $ 18.2 million as of December 31, 2019. The contract has minimum required volumes. 25. CONTINGENCIES, COMMITMENTS AND RESTRICTIONS ON THE DISTRIBUTION OF PROFITS (continued) (s) Ternium Brasil signed on May 2019 a contract with LSI Logistica S.A. for mobile equipment rental. This agreement is due to terminate on May 2024 and the outstanding amount was USD 18.3 million as of December 31, 2019. The contract only has a penalty in case of anticipated termination. (t) Ternium Brasil signed on December 2018 a contract with Gas Verde S.A. for the supply of bio methane gas for a period of two years since the beginning of the supply, which started on October 2019. The outstanding amount for this agreement was USD 16.5 million (or 46.1 million m3) as of December 31, 2019. The contract has a penalty for early termination and requires minimum volumes. (iii) Restrictions on the distribution of profits In accordance with Luxembourg law, the Company is required to transfer a minimum of 5% of its net profit for each financial year to a legal reserve until such reserve equals 10% of the issued share capital. As of December 31, 2019 , this reserve is fully allocated and additional allocations to the reserve are not required under Luxembourg Law. Dividends may not be paid out of the legal reserve. The Company may pay dividends to the extent, among other conditions, that it has distributable retained earnings calculated in accordance with Luxembourg Law and regulations.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2019
Disclosure of related party [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS As of December 31, 2019 , Techint Holdings S.à r.l. (“Techint”) owned 62.02% of the Company’s share capital and Tenaris Investments S.à r.l. (“Tenaris”) held 11.46% of the Company’s share capital. Each of Techint and Tenaris were controlled by San Faustin S.A., a Luxembourg company (“San Faustin”). Rocca & Partners Stichting Administratiekantoor Aandelen San Faustin (“RP STAK”), a private foundation (Stichting) located in the Netherlands, held voting rights in San Faustin sufficient in number to control San Faustin. No person or group of persons controls RP STAK. For commitments with Related parties, see note 25. 26. RELATED PARTY TRANSACTIONS (continued) The following transactions were carried out with related parties: Year ended December 31, 2019 2018 2017 (i) Transactions (a) Sales of goods and services Sales of goods to non-consolidated parties 515,123 774,526 453,551 Sales of goods to other related parties 77,375 141,230 164,694 Sales of services and others to non-consolidated parties 171 176 177 Sales of services and others to other related parties 1,060 1,286 660 593,729 917,218 619,082 (b) Purchases of goods and services Purchases of goods from non-consolidated parties 408,309 483,182 404,891 Purchases of goods from other related parties 71,324 50,928 57,941 Purchases of services and others from non-consolidated parties 14,563 10,266 13,126 Purchases of services and others from other related parties 155,289 90,536 111,439 Purchases of goods and services in connection with lease contracts from other related parties 8,859 — — 658,343 634,912 587,397 (c) Financial results Income with non-consolidated parties 9,478 9,330 7,611 Expenses in connection with lease contracts from other related parties (945 ) — — 8,533 9,330 7,611 (d) Dividends received Dividends from non-consolidated parties 3,111 8,837 3,360 3,111 8,837 3,360 (e) Other income and expenses Income (expenses), net with non-consolidated parties 929 1,012 2,723 Income (expenses), net with other related parties 986 492 247 1,915 1,504 2,970 As of December 31, 2019 2018 (ii) Year-end balances (a) Arising from sales/purchases of goods/services and other transactions Receivables from non-consolidated parties 167,312 201,693 Receivables from other related parties 5,027 5,975 Advances from non-consolidated parties 8,017 2,812 Advances to suppliers with other related parties 15,936 7,534 Payables to non-consolidated parties (44,784 ) (37,384 ) Payables to other related parties (41,849 ) (23,495 ) Lease liabilities with other related parties (7,310 ) — 102,349 157,135 26. RELATED PARTY TRANSACTIONS (continued) (iii) Officers and Directors’ compensation During the year ended December 31, 2019 the cash compensation of Officers and Directors amounted to $ 26,942 ($ 16,205 for the year ended December 31, 2018 ). In addition, Officers received 1,075,500 Units for a total amount of $ 3,546 ($ 2,851 for the year ended December 31, 2018 ) in connection with the incentive retention program mentioned in note 4 (o)(3).

OTHER REQUIRED DISCLOSURES

OTHER REQUIRED DISCLOSURES	12 Months Ended
	Dec. 31, 2019
Disclosure of additional information [Abstract]
OTHER REQUIRED DISCLOSURES	OTHER REQUIRED DISCLOSURES (a) Statement of comprehensive income Cash flow hedges Currency translation Gross amount Income tax Total adjustment At December 31, 2017 810 (129 ) 681 (3,257,038 ) (Decrease) / Increase (14 ) (108 ) (122 ) (449,981 ) Reclassification to income statement (117 ) 35 (82 ) — At December 31, 2018 679 (202 ) 477 (3,707,019 ) (Decrease) / Increase (475 ) 142 (333 ) (61,925 ) Reclassification to income statement (276 ) 83 (193 ) — At December 31, 2019 (72 ) 23 (49 ) (3,768,944 ) (b) Statement of cash flows Year ended December 31, 2019 2018 2017 (i) Changes in working capital (1) Inventories 510,972 (186,409 ) (540,162 ) Receivables and others 6,175 8,652 (108,257 ) Trade receivables 161,454 (123,388 ) (303,114 ) Other liabilities (95,131 ) 17,138 40,230 Trade payables (10,786 ) 55,430 46,333 572,684 (228,577 ) (864,970 ) (ii) Income tax accrual less payments Tax accrued (Note 11) 196,519 369,435 336,882 Taxes paid (405,324 ) (523,801 ) (610,325 ) (208,805 ) (154,366 ) (273,443 ) (iii) Interest accruals less payments Interest accrued (Note 10 and 23) 104,855 131,172 114,583 Interest paid (101,450 ) (144,186 ) (95,099 ) 3,405 (13,014 ) 19,484 (1) Changes in working capital are shown net of the effect of exchange rate changes. 27. OTHER REQUIRED DISCLOSURES (continued) (c) Financial debt reconciliation Financial debt Finance lease liabilities Short term borrowings Long term borrowings Total As of December 31, 2017 (77,035 ) (1,505,570 ) (1,716,337 ) (3,298,942 ) Cash flows 7,565 1,492,568 (401,725 ) 1,098,408 Reclassifications — (459,520 ) 459,520 — Foreign exchange adjustments (47,390 ) (121,801 ) — (169,191 ) Other non cash movements 43,032 194,467 21,441 258,940 As of December 31, 2018 (73,828 ) (399,856 ) (1,637,101 ) (2,110,785 ) Cash flows 53,850 231,967 (297,780 ) (11,963 ) Reclassifications — (306,262 ) 306,262 — Effect of initial recognition under IFRS 16 (280,493 ) — — (280,493 ) Acquisitions - finance leases (26,019 ) — — (26,019 ) Foreign exchange adjustments (8,834 ) (79,365 ) — (88,199 ) Other non cash movements (3,441 ) (6,266 ) (273 ) (9,980 ) As of December 31, 2019 (338,765 ) (559,782 ) (1,628,892 ) (2,527,439 )

CHANGE IN THE FUNCTIONAL CURREN

CHANGE IN THE FUNCTIONAL CURRENCY OF ARGENTINE SUBSIDIARIES	12 Months Ended
	Dec. 31, 2019
All Currencies [Abstract]
CHANGE IN THE FUNCTIONAL CURRENCY OF ARGENTINE SUBSIDIARIES	CHANGE IN THE FUNCTIONAL CURRENCY OF ARGENTINE SUBSIDIARIES The determination of the functional currency requires management to make significant judgements. Ternium Argentina has performed a review of its functional currency and concluded that the currency that most faithfully represents the economics effects of the entity is the US dollar and therefore its functional currency has changed from the local currency to the US dollar. This change is prospective from January 1, 2020, and does not affect the balances at December 31, 2019, nor results or cash flows for the year then ended. It is based on the following considerations: – In the last two years, the exchange rate of the Argentine peso has been severely affected by devaluations against the US dollar and Argentina continues to be a highly inflationary economy. These events had very limited impact on sale's price in US dollar; – In this context, there is also a greater proportion of total production cost in US dollar; – Furthermore, new global trade restrictions, affecting the international trade of steel along with limited restrictions of imports in Argentina, have led to a greater correlation of local prices to global prices. – Factors to determine the functional currency were always mixed. However, currently most of revenue and costs of production are negotiated and priced in US dollar. The change in functional currency of Ternium Argentina will significantly reduce the volatility of the Company’s earnings that was due to foreign exchange movements and application of IAS29 - Financial Reporting in Hyperinflationary Economies.

RECENTLY ISSUED ACCOUNTING PRON

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS	12 Months Ended
	Dec. 31, 2019
Disclosure of significant accounting policies [Abstract]
RECENTLY ISSUED ACCOUNTING PRONOUCNEMENTS	RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS The following amendments, standards and interpretations have been applied on the year starting January 1, 2019: International Financial Reporting Standard 16, "Leases" In January 2016, the IASB issued IFRS 16, "Leases", which will result in almost all leases being recognized on the balance sheet, as the distinction between operating and finance leases is removed. Under the new standard, an asset (the right to use the leased item) and a financial liability to pay rentals are recognized. IFRS 16 was adopted following the simplified approach, without restating comparative. The reclassifications and the adjustments arising from the new lease accounting rules are directly recognized in the opening balance sheet on January 1, 2019. Property, plant and equipment Lease liabilities Lease liabilities Closing balance as of December 31, 2018 - IFRS 16 5,817,609 8,030 65,798 Initial recognition of right-of-use assets 280,493 — — Initial recognition of lease liabilities — 34,848 245,645 Opening balance as of January 1, 2019 - IFRS 16 6,098,102 42,878 311,443 (*) Lease liabilities in the Consolidated Financial Statements as of December 31, 2018. On adoption of IFRS 16, the Company recognized lease liabilities in relation to leases which had previously been classified as ‘operating leases’ under the principles of IAS 17 Leases. For the initial recognition, these liabilities were measured at the present value of the remaining lease payments, discounted using the lessee’s incremental borrowing rate as of January 1, 2019. The weighted average lessee’s incremental borrowing rate applied to the lease liabilities on January 1, 2019, was of 4.05% . The difference between the amount of the lease liability recognized in the statement of financial position at the date of initial application and the operating lease commitments under IAS 17 is due to leases with a duration lower than 12 months and leases with a value lower than thirty thousand dollars and/or with clauses related to variable payments. The adoption of IFRS 16 Leases from January 1, 2019, resulted in changes in accounting policies and adjustments to the amounts recognized in the financial statements .

FINANCIAL RISK MANAGEMENT

FINANCIAL RISK MANAGEMENT	12 Months Ended
	Dec. 31, 2019
Disclosure of notes and other explanatory information [Abstract]
FINANCIAL RISK MANAGEMENT	FINANCIAL RISK MANAGEMENT 1) Financial risk factors Ternium’s activities expose the Company to a variety of risks: market risk (including the effects of changes in foreign currency exchange rates, interest rates and commodities prices), credit risk and liquidity risk. Ternium’s overall risk management program focuses on the unpredictability of financial markets and seeks to minimize potential adverse effects on the financial performance. Ternium’s subsidiaries may use derivative financial instruments to hedge certain risk exposures. 1.1) Market Risk (i) Foreign exchange rate risk Ternium operates and sells its products in different countries, and as a result is exposed to foreign exchange rate volatility. In addition, the Company entered into several borrowings that contain covenants providing for the compliance with certain financial ratios, including ratios measured in currencies other that the U.S. dollar. This situation exposes Ternium to a risk of non-compliance derived from volatility in foreign exchange rates. Ternium’s subsidiaries may use derivative contracts in order to hedge their exposure to exchange rate risk derived from their trade and financial operations. Ternium’s foreign exchange policy is to minimize the negative impact of fluctuations in the value of other currencies with respect to the U.S. dollar. Ternium’s subsidiaries monitor their net cash flows in currencies other than the U.S. dollar, and analyze potential hedging according to market conditions. This hedging can be carried out by netting positions or by financial derivatives. However, regulatory or legal restrictions in the countries in which Ternium’s subsidiaries operate, could limit the possibility of the Company carrying out its hedging policy. Ternium has foreign operations, whose net assets are exposed to foreign currency translation risk, some of which may impact net income. The fact that some subsidiaries have measurement currencies other than the U.S. dollar may, at times, distort the results of the hedging efforts as reported under IFRS. The following table shows a breakdown of Ternium’s assessed financial position exposure to currency risk as of December 31, 2019 . These balances include intercompany positions where the intervening parties have different functional currencies. Functional currency $ million Exposure to $ ARS U.S. dollar ($) — (56 ) EU euro (EUR) (85 ) (3 ) Argentine peso (ARS) (7 ) — Mexican peso (MXN) (561 ) — Brazilian real (BRL) (184 ) (2 ) Colombian peso (COP) (25 ) — Other currencies (4 ) — 30. FINANCIAL RISK MANAGEMENT (continued) The main relevant exposures correspond to: (a) Argentine peso vs. U.S. dollar The cumulative devaluation for the Argentine peso during 2019 was 37.1% (2018: 50.5% ) and the cumulative inflation during 2019 was 53.8% (2018: 47.6% ). The devaluation, net of the impact of inflation, generated a negative effect of $ 43 million (2018: $ 37 million ) , included as currency translation adjustment in Other comprehensive income in connection with the valuation of Ternium's Argentine subsidiaries’ equities (mainly Ternium Argentina S.A.), and a loss of $ 111 million (2018: $ 184 million ), included as net foreign exchange results in the Income Statement, partially offset by the positive impact of the inflation adjustment of $118 million (2018: $191 million ). If the Argentine peso had weakened by 1% against the U.S. dollar, it would have generated a pre-tax loss of $ 0.6 million as of December 31, 2019 , and a pre-tax loss of $ 2.1 million as of December 31, 2018 . (b) Mexican peso vs. U.S. dollar If the Mexican peso had weakened by 1% against the U.S. dollar, it would have generated a pre-tax gain of $ 5.6 million and $ 5.8 million as of December 31, 2019 and 2018 , respectively. (c) Colombian peso vs. U.S. dollar If the Colombian peso had weakened by 1% against the U.S. dollar, it would have generated a pre-tax gain of $ 0.3 million and a pre-tax loss of $ 0.2 million as of December 31, 2019 and 2018 , respectively. (d) Brazilian real vs. U.S. dollar If the Brazilian real had weakened by 1% against the U.S. dollar, it would have generated a pre-tax gain of $ 1.8 million and a pre-tax gain of $ 1.5 million as of December 31, 2019 and 2018, respectively. We estimate that if the Argentine peso, Mexican peso, Colombian peso and Brazilian real had weakened simultaneously by 1% against the U.S. dollar with all other variables held constant, total pre-tax income for the year would have been $ 7.1 million higher ($ 5.0 million higher as of December 31, 2018 ), as a result of foreign exchange gains/losses on translation of U.S. dollar-denominated financial position, mainly trade receivables, trade payables, borrowings and other liabilities. Considering the same variation of the currencies against the U.S. dollar of all net investments in foreign operations amounting to $ 1.9 billion , the currency translation adjustment included in total equity would have been $ 18.5 million lower ($ 17.7 million lower as of December 31, 2018 ), arising mainly from the adjustment on translation of the equity related to the Argentine peso and the Brazilian real. (ii) Interest rate risk Ternium manages its exposure to interest rate volatility through its financing alternatives and hedging instruments. Borrowings issued at variable rates expose the Company to the risk of increased interest expense in the event of a raise in market interest rates, while borrowings issued at fixed rates expose the Company to a variation in its fair value. The Company’s interest-rate risk mainly arises from long-term borrowings that bear variable-rate interest that is partially fixed through different derivative transactions, such as interest rate swaps. 30. FINANCIAL RISK MANAGEMENT (continued) Ternium’s nominal weighted average interest rate for its debt instruments, which do not include neither the effect of derivative financial instruments, nor the devaluation of the local currencies, was 2.94% and 3.65% for 2019 and 2018 , respectively. These rates were calculated using the rates set for each instrument in its corresponding currency and weighted using the dollar-equivalent outstanding principal amount of each instrument. Ternium’s total variable interest rate debt amounted to $ 2,023 million ( 92.4% of total borrowings) at December 31, 2019 and $ 1,747 million ( 85.8% of total borrowings) at December 31, 2018 . If interest rates on the aggregate average notional of U.S. dollar denominated borrowings held during 2019 , excluding borrowings with derivatives contracts mentioned in Note 22 (a), had been 100 basis points higher with all other variables held constant, total pre-tax income for the year ended December 31, 2019 would have been $ 22.4 million lower ($ 26.8 million lower as of December 31, 2018 ). 1.2) Credit risk Credit risk arises from cash and cash equivalents, deposits with banks and financial institutions, as well as credit exposures to customers, including outstanding receivables and committed transactions. Ternium’s subsidiaries have credit guidelines in place to ensure that derivative and treasury counterparties are limited to high credit quality financial institutions. Ternium invests in financial assets with a minimum credit rating of investment grade established by an international qualification agency renowned in the financial market, in line with corporate investment portfolio policies. Approximately 92.6% of the Company’s liquid financial assets correspond to investment grade rated instruments as of December 31, 2019 , in comparison with approximately 82.6% as of December 31, 2018 . Ternium has no significant concentrations of credit risk from customers. No single customer accounts for more than ten percent of Ternium’s sales. Ternium’s subsidiaries have policies in place to ensure that sales are made to customers with an appropriate credit history, and that credit insurances, letters of credit or other instruments are requested to reduce credit risk whenever deemed necessary. The subsidiaries maintain allowances for potential credit losses. The utilization of credit limits is regularly monitored. Trade and other receivables are carried at face value less allowance for doubtful accounts, if applicable. This amount does not differ significantly from fair value. The other receivables do not contain significant impaired assets. As of December 31, 2019 , trade receivables total $ 950.6 million ($ 1,133.2 million as of December 31, 2018 ). These trade receivables are collateralized by guarantees under letter of credit and other bank guarantees of $ 3.4 million ($ 23.3 million as of December 31, 2018 ), credit insurance of $ 469.3 million ($ 506.8 million as of December 31, 2018 ) and other guarantees of $ 16.4 million ($ 18.6 million as of December 31, 2018 ). As of December 31, 2019 , trade receivables of $ 877.2 million ($ 1,035.0 million as of December 31, 2018 ) were fully performing. 30. FINANCIAL RISK MANAGEMENT (continued) As of December 31, 2019 , trade receivables of $ 86.3 million ($ 112.5 million as of December 31, 2018 ) were past due (mainly up to 180 days). The amount of the allowance for doubtful accounts was $ 13.0 million as of December 31, 2019 ($ 14.3 million as of December 31, 2018 ). The carrying amounts of the Company’s trade and other receivables as of December 31, 2019 , are denominated in the following currencies: Currency $ million U.S. dollar ($) 965 EU euro (EUR) 36 Argentine peso (ARS) 14 Mexican peso (MXN) 150 Brazilian real (BRL) 387 Colombian peso (COP) 69 Other currencies 2 1,623 1.3) Liquidity risk Management maintains sufficient cash and marketable securities and credit facilities to finance normal operations. Management monitors rolling forecasts of the group’s liquidity reserve on the basis of expected cash flow. The table below analyses financial liabilities into relevant maturity groups based on the remaining period at the date of the statement of financial position to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows. $ million 2020 2021 2022 2023 Thereafter Borrowings 560 309 660 137 523 Interests to be accrued (1) 60 49 33 19 7 Trade payables and other liabilities 867 9 9 5 30 Lease liabilities 41 42 41 40 175 Total 1,528 409 743 201 735 (1) These amounts do not include the effect of derivative financial instruments. As of December 31, 2019 , total borrowings less cash and cash equivalents and other current and non-current investments amounted to $ 1,453.4 million . 1.4) Capital risk Ternium seeks to maintain an adequate debt/equity ratio considering the industry and the markets where it operates. The year-end ratio debt over debt plus equity is 0.22 and 0.21 as of December 31, 2019 and 2018 , respectively. The Company does not have to comply with regulatory capital adequacy requirements as known in the financial services industry. 2) Financial instruments by category and fair value hierarchy level The accounting policies for financial instruments have been applied to the line items below. According to the scope and definitions set out in IFRS 7 and IAS 32, employers’ rights and obligations under employee benefit plans, and non-financial assets and liabilities such as advanced payments and income tax payables, are not included. As of December 31, 2019 (in $ thousands) Amortized cost Assets at fair value through profit or loss Assets at fair value through OCI Total (i) Assets as per statement of financial position Receivables 406,370 — — 406,370 Derivative financial instruments — 1,196 — 1,196 Trade receivables 950,569 — — 950,569 Other investments 176,470 — 38,803 215,273 Cash and cash equivalents 320,088 199,877 — 519,965 Total 1,853,497 201,073 38,803 2,093,373 As of December 31, 2019 (in $ thousands) Liabilities at fair value through profit or loss Amortized cost Total (ii) Liabilities as per statement of financial position Other liabilities — 88,403 88,403 Trade payables — 836,204 836,204 Derivative financial instruments 3,024 — 3,024 Finance lease liabilities — 338,765 338,765 Borrowings — 2,188,674 2,188,674 Total 3,024 3,452,046 3,455,070 30. FINANCIAL RISK MANAGEMENT (continued) As of December 31, 2018 (in $ thousands) Amortized cost Assets at fair value through profit or loss Assets at fair value through OCI Total (i) Assets as per statement of financial position Receivables 449,077 — — 449,077 Derivative financial instruments — 1,588 — 1,588 Trade receivables 1,133,236 — — 1,133,236 Other investments 14,843 — 36,630 51,473 Cash and cash equivalents 110,086 140,455 — 250,541 Total 1,707,242 142,043 36,630 1,885,915 As of December 31, 2018 (in $ thousands) Liabilities at fair value through profit or loss Amortized cost Total (ii) Liabilities as per statement of financial position Other liabilities — 105,659 105,659 Trade payables — 864,827 864,827 Derivative financial instruments 12,981 — 12,981 Finance lease liabilities — 73,828 73,828 Borrowings — 2,036,957 2,036,957 Total 12,981 3,081,271 3,094,252 Fair Value by Hierarchy Following the requirements contained in IFRS 13, Ternium categorizes each class of financial instrument measured at fair value in the statement of financial position into three levels, depending on the significance of the judgment associated with the inputs used in making the fair value measurements: – Level 1 comprises financial assets and financial liabilities whose fair values have been determined on the basis of quoted prices (unadjusted) in active markets for identical assets or liabilities. – Level 2 includes financial assets and financial liabilities for which fair values have been estimated using inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices). – Level 3 comprises financial instruments for which inputs to estimate fair value of the assets or liabilities are not based on observable market data (unobservable inputs). 30. FINANCIAL RISK MANAGEMENT (continued) The following table presents the assets and liabilities that are measured at fair value as of December 31, 2019 and 2018 : Fair value measurements as of December 31, 2019 (in $ thousands): Description Total Level 1 Level 2 Financial assets at fair value through profit or loss / OCI Cash and cash equivalents 199,877 199,877 — Other investments 38,803 38,803 — Derivative financial instruments 1,196 — 1,196 Total assets 239,876 238,680 1,196 Financial liabilities at fair value through profit or loss / OCI Derivative financial instruments 3,024 — 3,024 Total liabilities 3,024 — 3,024 Fair value measurements as of December 31, 2018 (in $ thousands): Description Total Level 1 Level 2 Financial assets at fair value through profit or loss / OCI Cash and cash equivalents 140,455 140,455 — Other investments 36,630 36,630 — Derivative financial instruments 1,588 — 1,588 Total assets 178,673 177,085 1,588 Financial liabilities at fair value through profit or loss / OCI Derivative financial instruments 12,981 — 12,981 Total liabilities 12,981 — 12,981 There were no significant transfers between Level 1 and Level 2 of the fair value hierarchy and there were no financial assets and liabilities considered as Level 3. The fair value of financial instruments traded in active markets is based on quoted market prices at the reporting date. A market is regarded as active if quoted prices are readily and regularly available from an exchange, dealer, broker, industry group, pricing service, or regulatory agency, and those prices represent actual and regularly occurring market transactions on an arm’s length basis. The quoted market price used for financial assets held by Ternium is the current mid price. These instruments are included in Level 1 and comprise primarily corporate and sovereign debt securities. 30. FINANCIAL RISK MANAGEMENT (continued) The fair value of financial instruments that are not traded in an active market (such as certain debt securities, certificates of deposits with original maturity of more than three months, forward and interest rate derivative instruments) is determined by using valuation techniques which maximize the use of observable market data when available and rely as little as possible on entity specific estimates. If all significant inputs required to value an instrument are observable, the instrument is included in Level 2. Ternium values its assets and liabilities included in this level using mid prices, interest rate curves, broker quotations, current exchange rates and forward rates volatilities obtained from market contributors as of the valuation date. If one or more of the significant inputs are not based on observable market data, the instruments are included in Level 3. Ternium values its assets and liabilities in this level using observable market inputs and management assumptions which reflect the Company’s best estimate on how market participants would price the asset or liability at measurement date. 3) Accounting for derivative financial instruments and hedging activities Derivative financial instruments are initially recognized in the statement of financial position at cost and subsequently measured at fair value. Changes in fair value are disclosed under “Other financial income (expenses), net” line item in the income statement. Ternium does not hedge its net investments in foreign entities. Ternium designates certain derivatives as hedges of a particular risk associated with a recognized asset or liability or a highly probable forecast transaction. These transactions are classified as cash flow hedges (mainly interest rate swaps). The effective portion of the fair value of derivatives that are designated and qualify as cash flow hedges is recognized within other comprehensive income. Amounts accumulated in other comprehensive income are recognized in the income statement in the same period than any offsetting losses and gains on the hedged item. The gain or loss relating to the ineffective portion is recognized immediately in the income statement. The fair value of Ternium derivative financial instruments (asset or liability) continues to be reflected on the statement of financial position. For transactions designated and qualifying for hedge accounting, Ternium documents at inception the relationship between hedging instruments and hedged items, as well as its risk management objectives and strategy for undertaking various hedge transactions. The Company also documents its assessment, both at hedge inception and on an ongoing basis, of whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in fair values or cash flows of hedged items. At December 31, 2019 , the effective portion of designated cash flow hedges amounts to $ (0.1) million (net of taxes) and is included as “Cash flow hedges” line item in the statement of comprehensive income. The fair values of various derivative instruments used for hedging purposes are disclosed in Note 22. The full fair value of a hedging derivative is classified as a non-current asset or liability when the remaining maturity of the hedged item is more than 12 months and as a current asset or liability when the remaining maturity of the hedged item is less than 12 months. Changes in the fair value of any derivative instruments that do not qualify for hedge accounting under IAS 39 are recognized immediately in the income statement. 4) Fair value estimation The estimated fair value of a financial instrument is the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. For the purpose of estimating the fair value of financial assets and liabilities with maturities of less than one year, the Company uses the market value less any estimated credit adjustments. For other investments, the Company uses quoted market prices. As most borrowings incorporate floating rates that approximate market rates and the contractual repricing occurs mostly every 1 month, the fair value of the borrowings approximates their carrying amount and it is not disclosed separately. 30. FINANCIAL RISK MANAGEMENT (continued) In assessing the fair value of derivatives and other financial instruments, Ternium uses a variety of methods, including, but not limited to, estimated discounted value of future cash flows using assumptions based on market conditions existing at each year end.

SUBSEQUENT EVENTS - COVID-19

SUBSEQUENT EVENTS - COVID-19	12 Months Ended
	Dec. 31, 2019
Disclosure of non-adjusting events after reporting period [abstract]
SUBSEQUENT EVENTS - COVID-19	SUBSEQUENT EVENTS - COVID-19 In December 2019, a novel strain of coronavirus (“COVID-19”) was reported to have surfaced in China and started spreading to the rest of the world in early 2020. The COVID-19 virus is impacting economic activity worldwide and poses the risk that Ternium or its employees, contractors, suppliers, customers and other business partners may be prevented from conducting certain business activities for an indefinite period of time, including due to shutdowns mandated by governmental authorities or otherwise adopted by companies as a preventive measure. Given the uncertainty around the extent and timing of the future spread of COVID-19 and the imposition or relaxation of protective measures, it is not possible to predict the COVID-19’s effects on the industry, generally, and to reasonably estimate the financial effect on the Company.

ACCOUNTING POLICIES (Policies)

ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2019
Disclosure of significant accounting policies [Abstract]
Group accounting	Subsidiary companies and transactions with non-controlling interests Subsidiaries are all entities over which the Company has control. The Company controls an entity when the Company is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Company. They are deconsolidated from the date that control ceases. The Company uses the acquisition method of accounting to account for business combinations. The consideration transferred for the acquisition of a subsidiary is the fair values of the assets transferred, the liabilities incurred and the equity interests issued by the Company. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration arrangement. Acquisition-related costs are expensed as incurred. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at the fair values at the acquisition date. Indemnification assets are recognized at the same time that the Company recognizes the indemnified item and measures them on the same basis as the indemnified item, subject to the need for a valuation allowance for uncollectible amounts. The Company measures the value of a reacquired right recognized as an intangible asset on the basis of the remaining contractual term of the related contract regardless of whether market participants would consider potential contractual renewals in determining its fair value. On an acquisition-by-acquisition basis, the Company recognizes any non-controlling interest in the acquiree at the non-controlling interest's proportionate share of the acquiree's net assets. The excess of the consideration transferred, the amount of any non-controlling interest in the acquiree and the acquisition-date fair value of any previous equity interest in the acquiree over the fair value of the Company's share of the identifiable net assets acquired is recorded as goodwill. If this is less than the fair value of the net assets of the subsidiary acquired in the case of a bargain purchase, the difference is recognized directly in the income statement. The measurement period is the earlier of the date that the acquirer receives the information that it is looking for or cannot obtain the information and one year after the acquisition date. Where the accounting for a business combination is not complete by the end of the reporting period in which the business combination occurred provisional amounts are reported. The Company treats transactions with non-controlling interests as transactions with equity owners of the Company. For purchases from non-controlling interests, the difference between any consideration paid and the relevant share acquired of the carrying value of net assets of the subsidiary is recorded in equity. Gains or losses on disposals to non-controlling interests are also recorded in equity. When the Company ceases to have control or significant influence, any retained interest in the entity is remeasured to its fair value, with the change in carrying amount recognized in profit or loss. The fair value is the initial carrying amount for the purposes of subsequently accounting for the retained interest as an associate, joint venture or financial asset. In addition, any amounts previously recognized in other comprehensive income in respect of that entity are accounted for as if the group had directly disposed of the related assets or liabilities. This may mean that amounts previously recognized in other comprehensive income are reclassified to profit or loss. Inter-company transactions, balances and unrealized gains on transactions between group companies are eliminated. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. However, the fact that the functional currency of some subsidiaries is their respective local currency, generates some financial gains (losses) arising from intercompany transactions, that are included in the consolidated income statement under Other financial expenses, net. (2) Investments in non-consolidated companies Associated companies are those entities in which Ternium has significant influence, but which it does not control. Joint arrangements are understood as combinations in which there are contractual agreements by virtue of which two or more companies hold an interest in companies that undertake operations or hold assets in such a way that any financial or operating decision is subject to the unanimous consent of the partners. A joint arrangement is classed as a joint operation if the parties hold rights to its assets and have obligations in respect of its liabilities or as a joint venture if the venturers hold rights only to the investee's net assets. Investments in non-consolidated companies (associated companies and joint ventures) are accounted for using the equity method of accounting. Under this method, interests in joint ventures and associates are initially recognized in the consolidated statement of financial position at cost and adjusted thereafter to recognize the Company’s share of the post-acquisition profits or losses in the income statement, and its share of post-acquisition changes in reserves recognized in reserves and in other comprehensive income in the income statement. Unrealized gains on transactions among the Company and its non-consolidated companies are eliminated to the extent of the Company’s interest in such non-consolidated companies; unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. When the Company’s share of losses in a non-consolidated company equals or exceeds its interest in such non-consolidated company, the Company does not recognize further losses unless it has incurred obligations or made payments on behalf of such non-consolidated company. The Company’s investment in associates and joint ventures includes notional goodwill identified on acquisition. The Company determines at each reporting date whether there is any objective evidence that the investment is impaired. If this is the case, the group calculates the amount of impairment as the difference between the recoverable amount of the investment and its carrying value and recognizes the amount within “Equity on earnings (losses) of non-consolidated companies”.
Foreign currency translation	Functional and presentation currency Items included in the financial statements of each of the Company's subsidiaries and associated companies are measured using the currency of the primary economic environment in which the entity operates (the "functional currency"). Except for the Argentine and the non-consolidated companies whose functional currencies are their local currencies, Ternium determined that the functional currency of its subsidiaries is the U.S. dollar. Although Ternium is located in Luxembourg, it operates in several countries with different currencies. The $ is the currency that best reflects the economic substance of the underlying events and circumstances relevant to Ternium as a whole. (2) Subsidiary companies The results and financial position of all the group entities (except for the ones which operates in a hyperinflationary economy; see note 4 (cc)) that have a functional currency different from the presentation currency, are translated into the presentation currency as follows: (i) assets and liabilities are translated at the closing rate of each statement of financial position; (ii) income and expenses for each income statement are translated at average exchange rates (unless this average is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the rate on the dates of the transactions); and (iii) all resulting translation differences are recognized within other comprehensive income. In the case of a sale or other disposition of any such subsidiary, any accumulated translation differences would be recognized in the income statement as part of the gain or loss on sale. (3) Transactions in currencies other than the functional currency Transactions in currencies other than the functional currency are translated into the functional currency using the exchange rates prevailing at the date of the transactions or valuation where items are re-measured. At the end of each reporting period: (i) monetary items denominated in currencies other than the functional currency are translated using the closing rates, (ii) non-monetary items that are measured in terms of historical cost in a currency other than the functional currency are translated using the exchange rates prevailing at the date of the transactions; and (iii) non-monetary items that are measured at fair value in a currency other than the functional currency are translated using the exchange rates prevailing at the date when the fair value was determined. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in currencies other than the functional currency are recorded as gains and losses from foreign exchange and included in "Other financial income (expenses), net" in the consolidated income statement, except when deferred in equity as qualifying cash flow hedges and qualifying net investment hedges. Translation differences on non-monetary financial assets and liabilities such as equities held at fair value through profit or loss are recognized in profit or loss as part of the "fair value gain or loss," while translation differences on non-monetary financial assets such as equities classified as fair value through other comprehensive income are included in other gains/(losses).
Financial instruments	Non derivative financial instruments Non derivative financial instruments comprise investments in equity and debt securities, trade and other receivables, cash and cash equivalents, loans and borrowings, and trade and other payables. From January 1, 2018, the Company classifies its financial instruments in the following measurement categories: – Amortized cost: instruments that are held for collection or repayment of contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortized cost. Interest income and expenses from these financial instruments are included in finance income or expense using the effective interest rate method. Any gain or loss arising on derecognition is recognized directly in profit or loss and presented in finance income or expense, together with foreign exchange gains and losses. Impairment losses are presented as separate line items in the statement of profit or loss. – Fair value through other comprehensive income (“FVOCI”): financial assets that are held for collection of contractual cash flows and for selling the financial assets, where the assets’ cash flows represent solely payments of principal and interest, are measured at FVOCI. Movements in the carrying amount are taken through OCI, except for the recognition of impairment gains or losses, interest revenue and foreign exchange gains and losses which are recognized in profit or loss. When the financial asset is derecognized, the cumulative gain or loss previously recognized in OCI is reclassified from equity to profit or loss and recognized in other gains/(losses). Interest income from these financial assets is included in finance income using the effective interest rate method. Foreign exchange gains and losses are presented in other gains/(losses) and impairment expenses are presented as separate line item in the statement of profit or loss. – Fair value through profit or loss (“FVPL”): financial instruments that do not meet the criteria for amortized cost or FVOCI are measured at FVPL. A gain or loss on a debt investment that is subsequently measured at FVPL is recognized in profit or loss and presented net within other gains/(losses) in the period in which it arises. The classification depends on the Company’s business model for managing the financial instruments and the contractual terms of the cash flows. For financial instruments measured at fair value, gains and losses will either be recorded in profit or loss or OCI. For investments in equity instruments that are not held for trading, this will depend on whether the group has made an irrevocable election at the time of initial recognition to account for the equity investment at FVOCI. At initial recognition, the Company measures a financial instrument at its fair value plus, in the case of a financial instrument not at FVPL, transaction costs that are directly attributable to the acquisition of the financial instrument. Transaction costs of financial instruments carried at FVPL are expensed in profit or loss. Subsequent measurement of debt instruments depends on the Company’s business model for managing the asset and the cash flow characteristics of the asset. Until December 31, 2017 Ternium non derivative financial instruments were classified into the following categories: • Financial instruments at fair value through profit or loss: comprising mainly cash and cash equivalents and investments in debt securities held for trading; • Held-to-maturity instruments: measured at amortized cost using the effective interest method less impairment losses. As of December 31, 2017, there were $6.1 million classified under this category; • Loans and receivables: measured at amortized cost using the effective interest method less impairment losses; • Available-for-sale ("AFS") financial assets: gains and losses arising from changes in fair value were recognized within other comprehensive income ("OCI") with the exception of impairment losses, interest calculated using the effective interest method and foreign exchange gains and losses on monetary assets, which were recognized directly in profit or loss. Where the investment was disposed of or was determined to be impaired, the cumulative gain or loss previously recognized in OCI was included in the income statement for the period. As of December 31, 2017, there were no AFS amounts classified under this category; • Other financial liabilities: measured at amortized cost using the effective interest method. The classification depended on the nature and purpose of the financial assets and was determined at the time of initial recognition. Financial assets and liabilities were recognized and derecognized on the settlement date. Financial assets were initially measured at fair value, net of transaction costs, except for those financial assets classified as financial assets at fair value through profit or loss. Financial liabilities, including borrowings, were initially measured at fair value, net of transaction costs and subsequently measured at amortized cost using the effective interest method, with interest expense recognized on an effective yield basis. Impairment of financial assets From January 1, 2018, the Company assesses on a forward-looking basis the expected credit losses associated with its debt instruments carried at amortized cost and FVOCI. The impairment methodology applied depends on whether there has been a significant increase in credit risk. For trade receivables, the Company applies the simplified approach permitted by IFRS 9, which requires expected lifetime losses to be recognized from initial recognition of the receivables, see note 4 (i) for further details. Until December 31, 2017, the Company assessed at the end of each reporting period whether there was objective evidence that a financial asset or group of financial assets was impaired. A financial asset or a group of financial assets was impaired and impairment losses were incurred only if there was objective evidence of impairment as a result of one or more events that occurred after the initial recognition of the asset (a "loss event") and that loss event (or events) had an impact on the estimated future cash flows of the financial asset or group of financial assets that could be reliably estimated. The Company first assessed whether objective evidence of impairment existed. For loans and receivables category and for held-to-maturity investments, the amount of the loss was measured as the difference between the asset's carrying amount and the present value of estimated future cash flows (excluding future credit losses that have not been incurred) discounted at the financial asset's original effective interest rate. The carrying amount of the asset was reduced and the amount of the loss was recognized in the consolidated income statement. If, in a subsequent period, the amount of the impairment loss decreased and the decrease could be related objectively to an event occurring after the impairment was recognized, the reversal of the previously recognized impairment loss was recognized in the consolidated income statement. Derivative financial instruments Information about accounting for derivative financial instruments and hedging activities is included in Note 30 "Financial Risk management" and Note 4 (y).
Property, plant and equipment	Property, plant and equipment Land and buildings comprise mainly factories and offices. All property, plant and equipment are recognized at historical acquisition or construction cost less accumulated depreciation and accumulated impairment (if applicable), except for land, which is carried at acquisition cost less accumulated impairment (if applicable). There are no material residual values for property, plant and equipment items. Major overhaul and rebuilding expenditures are recognized as a separate asset when future economic benefits are expected from the item, and the cost can be measured reliably. Ordinary maintenance expenses on manufacturing properties are recorded as cost of products sold in the period in which they are incurred. Where a tangible fixed asset comprises major components having different useful lives, these components are accounted for as separate items. Spare parts are included in property, plant and equipment. Depreciation method is reviewed at each year end. Depreciation is calculated using the straight-line method to amortize the cost of each asset to its residual value over its estimated useful life as follows: Land No depreciation Buildings and improvements 10-50 years Production equipment 5-40 years Vehicles, furniture and fixtures and other equipment 3-20 years Property, plant and equipment used in mining activities are depreciated over its useful life or over the remaining life of the mine if shorter and there is no alternative use possible. The assets' useful lives are reviewed, and adjusted if appropriate, at each year end. The re-estimation of assets useful lives by the Company did not materially affect depreciation charges in 2019 , 2018 and 2017 . Gains and losses on disposals are determined by comparing the proceeds with the corresponding carrying amounts and are included in the income statement. If the carrying amount of an asset were greater than its estimated recoverable amount, it would be written down to its recoverable amount (see Note 4 (f) "Impairment"). Amortization charges are included in cost of sales, selling, general and administrative expenses. (2) Right-of-use assets The Company is a party to lease contracts for: • Land • Plants and equipment for the production of industrial gases and other production materials. • Transportation and maintenance equipment. • Warehouses and office spaces. These leases are recognized, measured and presented in accordance to IFRS 16 “Leases”, following the guidelines described below. Accounting by the lessee The Company recognizes a right-of-use asset and a lease liability at the commencement date of each lease contract that grants the right to control the use of an identified asset during a period of time. The commencement date is the date in which the lessor makes an underlying asset available for use by the lessee. The Company applied exemptions for leases with a duration lower than 12 months, with a value lower than thirty thousand dollars and/or with clauses related to variable payments. These leases have been considered as short-term leases and, accordingly, no right-of-use asset or lease liability have been recognized. At initial recognition, the right-of-use asset is measured considering: – The value of the initial measurement of the lease liability; – Any lease payments made at or before the commencement date, less any lease incentives; and – Any initial direct costs incurred by the lessee. After initial recognition, the right-of-use assets are measured at cost, less any accumulated depreciation and/or impairment losses, and adjusted for any re-measurement of the lease liability. Depreciation of the right-of-use asset is calculated using the straight-line method over the estimated duration of the lease contract, as follows: Buildings and facilities 2-20 years Machinery 2-17 years If the lease transfers ownership of the underlying asset to the Company by the end of the lease term, or if the cost of the right-of-use asset reflects that the Company will exercise a purchase option, the Company depreciates the right-of-use asset from the commencement date to the end of the useful life of the underlying asset. Otherwise, the Company depreciates the right-of-use asset from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term. Accounting by the lessor When the Company is acting as a lessor, each of its leases is classified as either operating or finance lease: – Leases where a significant portion of the risks and rewards of ownership are retained by the lessor are classified as operating leases. – Leases where all substantial risks and rewards of ownership are transferred by the lessor to the lessee are classified as finance leases.
Intangible assets	Information system projects Generally, costs associated with developing or maintaining computer software programs are recognized as an expense as incurred. However, costs directly related to the acquisition and implementation of information systems are recognized as intangible assets if they have a probable economic benefit exceeding the cost beyond one year and comply with the recognition criteria of IAS 38. Information system projects recognized as assets are amortized using the straight-line method over their useful lives, not exceeding a period of 3 years . Amortization charges are included in cost of sales, selling, general and administrative expenses. (2) Mining assets Mining assets include: (a) Mining licenses acquired; (b) Capitalized exploration and evaluation costs, reclassified from exploration and evaluation costs (see note 4 (e) 3); and (c) Capitalized developmental stripping costs (see note 4 (u)). Mining licenses were recognized as separate intangible assets upon the acquisition of the investment in Mexico and comprise the right to exploit the mines and are recognized at its fair value at acquisition date less accumulated amortization. These mining concessions were granted for a 50 -year period; following the expiration of the initial concession term, the concessions are renewable for an additional 50 -year term in accordance with, and subject to the procedures set forth in, applicable Mexican mining law. Amortization charge is calculated by using the unit-of-production method, on the basis of actual mineral extracted in each period compared to the estimated mineral reserves, and is included in cost of sales. Any change in the estimation of reserves is accounted for prospectively. The resulting amortization rate for the years ended December 31, 2019 , 2018 and 2017 , is approximately 5% , 8% and 7% per year, respectively. (3) Exploration and evaluation costs Exploration and evaluation activities involve the search for iron ore resources, the determination of technical feasibility and the assessment of commercial viability of an identified resource. Exploration and evaluation costs are measured at cost. Costs directly associated with exploration and evaluation activities are capitalized as intangible assets until the determination of reserves is evaluated. The costs associated to the acquisition of machinery and equipment are recognized as property, plant and equipment. If it is determined that commercial discovery has been achieved, costs incurred are reclassified into Mining assets and amortization starts once production begins. Exploration costs are tested for impairment when there are indicators that impairment exists. Indicators of impairment include, but are not limited to: • Rights to explore in an area have expired or will expire in the near future without renewal; • No further exploration and evaluation is planned or budgeted; • A decision to discontinue exploration and evaluation in an area because of the absence of commercial reserves; and • Sufficient data exists to indicate that the book value will not be fully recovered from future development and production. When analyzing the existence of impairment indicators, the exploration and evaluation areas from the mining cash-generating units will be evaluated. (4) Goodwill Goodwill represents the excess of the acquisition cost over the fair value of Ternium's participation in acquired companies' net assets at the acquisition date. Under IFRS 3, goodwill is considered to have an indefinite life and not amortized, but is subject to annual impairment testing. Goodwill is allocated to Cash-generating units ("CGU") for the purpose of impairment testing. The allocation is made to those cash-generating units expected to benefit from the business combination which generated the goodwill being tested. The impairment losses on goodwill cannot be reversed. As of December 31, 2019 and 2018 , the carrying amount of goodwill allocated to the Mexico CGUs was $ 662.3 million , of which $ 619.8 million corresponds to steel operations and $ 42.5 million to mining operations. (5) Research and development Research expenditures are recognized as expenses as incurred. Development costs are recorded as cost of sales in the income statement as incurred because they do not fulfill the criteria for capitalization. Research and development expenditures for the years ended December 31, 2019 , 2018 and 2017 totaled $ 10.0 million , $ 8.9 million and $ 9.8 million , respectively. (6) Customer relationships acquired in a business combination In accordance with IFRS 3 and IAS 38, Ternium has recognized the value of customer relationships separately from goodwill in connection with the acquisitions of Grupo Imsa and Ternium Colombia S.A.S. These customer relationships were amortized using the straight-line method over a useful life of approximately 10 years. As of December 31, 2017, these assets were fully amortized. In accordance with IFRS 3 and IAS 38, Ternium has recognized the value of customer relationships in connection with the acquisition of Ternium Staal B.V. The value of the slab commitment agreement by which Ternium Investments S.à r.l. is entitled to invoice, under certain conditions, the price difference between slabs and hot rolled coils will be amortized using the units of slabs sold method. (7) Trademarks acquired in a business combination In accordance with IFRS 3 and IAS 38, Ternium has recognized the value of trademarks separately from goodwill in connection with the acquisitions of Grupo Imsa and Ternium Colombia S.A.S. As of December 31, 2017, these assets were fully amortized. Trademarks are amortized using the straight-line method over a useful life of between 5 to 10 years.
Impairment	Assets that have an indefinite useful life (including goodwill) are not subject to amortization and are tested annually for impairment or whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Assets that are subject to amortization and investments in affiliates are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's fair value less cost to sell and the value in use. To carry out these tests, assets are grouped at the lowest levels for which there are separately identifiable cash flows (each, a CGU). When evaluating long-lived assets for potential impairment, the Company estimates the recoverable amount based on the value in use of the corresponding CGU. The value in use of each CGU is determined on the basis of the present value of net future cash flows which will be generated by the assets tested. Determining the present value of future cash flows involves highly sensitive estimates and assumptions specific to the nature of each CGU's activities, including estimates and assumptions relating to amount and timing of projected future cash flows, expected changes in market prices, expected changes in the demand of Ternium products and services, selected discount rate and selected tax rate. Ternium uses cash flow projections for the next five years based on past performance and expectations of market development; thereafter, it uses a perpetuity rate. Application of the discounted cash flow (DCF) method to determine the value in use of a CGU begins with a forecast of all expected future net cash flows. Variables considered in forecasts include the gross domestic product (GDP) growth rates of the country under study and their correlation with steel demand, level of steel prices and estimated raw material costs as observed in industry reports. Cash flows are discounted at rates that reflect specific country and currency risks associated with the cash flow projections. The discount rates used are based on the weighted average cost of capital (WACC), which is considered to be a good indicator of cost of capital. As of December 31, 2019 the discount rate used to test goodwill allocated to the Steel and Mining Mexico CGUs for impairment was 9.80% (as of December 31, 2018 , 11.68% ). As a result of the above factors, actual cash flows and values could vary significantly from the forecasted future cash flows and related values derived using discounting techniques. Based on the information currently available, however, Ternium believes that it is not reasonably possible that the variation would cause the carrying amount to exceed the recoverable amount of the CGUs. Considering the economic situation in Argentina, the increase in the inflation rates, the devaluation of the Argentine peso and a weaker industrial environment, the Company decided to assess the recoverability of its investments in Argentina, resulting in no impairment charges to be recognized. As of December 31, 2019, the discount rate used to test the investment in Argentine subsidiaries for impairment was 14.3% . During the years 2019 , 2018 and 2017 , no impairment provisions were recorded in connection with assets that have an indefinite useful life (including goodwill).
Other investments	Other investments consist primarily of investments in financial debt instruments and equity investments where the Company holds a minor equity interest and does not exert significant influence. All purchases and sales of investments are recognized on the settlement date, which is not significantly different from the trade date, which is the date that Ternium commits to purchase or sell the investment. Income from financial instruments at fair value through profit or loss is recognized in Other financial income (expenses), net in the consolidated income statement. The fair value of quoted investments is based on current bid prices. If the market for a financial investment is not active or the securities are not listed, the Company estimates the fair value by using standard valuation techniques. Dividends from investments in equity instruments are recognized in the income statement when the Company's right to receive payments is established. Certain fixed income financial instruments purchased by the Company have been categorized as at fair value through other comprehensive income. The results of these financial investments are recognized in Finance Income in the Consolidated Income Statement using the effective interest method. Unrealized gains and losses other than impairment and foreign exchange results are recognized in Other comprehensive income. On maturity or disposal, net gain and losses previously deferred in Other comprehensive income are recognized in Finance Income in the Consolidated Income Statement.
Inventories	Inventories are stated at the lower of cost (calculated using the first-in-first-out "FIFO" method) or net realizable value. The cost of finished goods and goods in process comprises raw materials, direct labor, depreciation, other direct costs and related production overhead costs. It excludes borrowing costs. Goods acquired in transit at year end are valued at supplier's invoice cost. The cost of iron ore produced in our mines comprises all direct costs necessary to extract and convert stockpiled inventories into raw materials, including production stripping costs, depreciation of fixed assets related to the mining activity and amortization of mining assets for those mines under production. The Company assesses the recoverability of its inventories considering their selling prices, if the inventories are damaged, or if they have become wholly or partially obsolete (see note 4 (bb) (4)).
Trade receivables and other receivables	Trade and other receivables are recognized initially at fair value, generally the original invoice amount. Since January 1, 2018, the Company applies the IFRS 9 simplified approach to measuring expected credit losses which uses a lifetime expected loss allowance for all trade receivables. To measure the expected credit losses, trade receivables are grouped based on shared credit risk characteristics and the days past due. The Company keeps an allowance for trade receivables, recorded in an asset account to offset the trade receivables in an amount estimated sufficient to cover the losses resulting from the impossibility for the debtors to cancel the amounts owed. This allowance for trade receivables is recorded with a charge to selling expenses.
Cash and cash equivalents	Cash and cash equivalents and highly liquid short-term securities are carried at fair market value or at a historical cost which approximates fair market value. For purposes of the cash flow statement, cash and cash equivalents comprise cash, bank current accounts and short-term highly liquid investments (original maturity of three months or less at date of acquisition) and overdrafts. In the consolidated statement of financial position, bank overdrafts are included in borrowings within current liabilities.
Non-current assets (disposal groups) classified as held for sale	Non-current assets (disposal groups) are classified as assets held for sale, complying with the recognition criteria of IFRS 5, and stated at the lower of carrying amount and fair value less cost to sell if their carrying amount is recovered principally through a sale transaction rather than through continuing use. The carrying value of non-current assets classified as held for sale, at December 31, 2019 and 2018 totals $ 2.1 million and $ 2.1 million , respectively, which corresponds principally to land and other real estate items. Sale is expected to be completed within a one-year period.
Borrowings	Borrowings are recognized initially for an amount equal to the net proceeds received. In subsequent periods, borrowings are stated at amortized cost following the effective interest method
Lease liabilities	The lease liability is initially measured at the present value of the lease payments that are not paid at such date, including the following concepts: – Fixed payments, less any lease incentives receivable; – Variable lease payments that depend on an index or rate, initially measured using the index or rate as of the commencement date; – Amounts expected to be payable by the lessee under residual value guarantees; – The exercise price of a purchase option if the lessee is reasonably certain to exercise that option; and – Payments of penalties for terminating the lease, if the lease term reflects the lessee exercising an option to terminate the lease. Variable lease liabilities with payments dependent on external factors, such as minimum volumes sold or used, are not included in the initial measurement of the lease liabilities and such payments are recognized directly in profit and loss. Lease payments are discounted using incremental borrowing rates for the location and currency of each lease contract or, if available, the rate implicit in the lease contract. The finance cost is charged to profit or loss over the lease period to produce a constant periodic rate of interest on the remaining balance of the liability for each period. The lease term determined by the Company comprises: – Non-cancelable period of lease contracts; – Periods covered by an option to extend the lease if the lessee is reasonably certain to exercise that option; and – Periods covered by an option to terminate the lease if the lessee is reasonably certain not to exercise that option. After the commencement date, the Company measures the lease liability by: – Increasing the carrying amount to reflect interest on the lease liability; – Reducing the carrying amount to reflect lease payments made; and – Re-measuring the carrying amount to reflect any reassessment or lease modifications.
Income taxes - current and deferred	The current income tax charge is calculated on the basis of the tax laws in force in the countries in which Ternium and its subsidiaries operate. Management evaluates positions taken in tax returns with respect to situations in which applicable tax regulation could be subject to interpretation. A liability is recorded for tax benefits that were taken in the applicable tax return but have not been recognized for financial reporting. Deferred income taxes are calculated using the liability method on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements. Deferred income tax is not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting, nor taxable profit or loss. The principal temporary differences arise on fixed assets, intangible assets, inventories valuation and provisions for pensions. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period when the asset is realized or the liability is settled, based on tax rates and tax laws that have been enacted or substantially enacted at year end. Under IFRS, deferred income tax assets (liabilities) are classified as non-current assets (liabilities). Deferred tax assets are recognized to the extent it is probable that future taxable income will be available to offset temporary differences. Deferred income tax is provided on temporary differences arising on investments in subsidiaries and associated companies, except where the timing of the reversal of the temporary difference is controlled by the Company and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets and liabilities are re-estimated if tax rates change. These amounts are charged or credited to the consolidated income statement or to the item “Other comprehensive income for the year” in the consolidated statement of comprehensive income, depending on the account to which the original amount was charged or credited
Employee liabilities	Post-employment obligations The Company has defined benefit and defined contribution plans. A defined benefit plan is a pension plan that defines an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation. The liability recognized in the statement of financial position in respect of defined benefit pension plans is the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets. The defined benefit obligation is calculated annually (at year end) by independent actuaries using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future cash outflows using interest rates of high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension obligation. In countries where there is no deep market in such bonds, the market rates on government bonds are used. Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to equity in other comprehensive income in the period in which they arise. Past-service costs are recognized immediately in income. For defined benefit plans, net defined benefit liability/asset is calculated based on the surplus or deficit derived by the difference between the defined benefit obligations less plan assets. For defined contribution plans, the Company pays contributions to publicly or privately administered pension insurance plans on a mandatory, contractual or voluntary basis. The Company has no further payment obligations once the contributions have been paid. The contributions are recognized as employee benefit expense when they are due. Prepaid contributions are recognized as an asset to the extent that a cash refund or a reduction in the future payments is available. Mexico Ternium Mexico has defined benefit and defined contribution plans. The valuation of the liabilities for the defined benefit employee retirement plans (pensions and seniority premiums) covers all employees and is based primarily on their years of service, their present age and their remuneration at the date of retirement. The cost of the employee retirement plans (pension, health-care expenses and seniority premiums) is recognized as an expense in the year in which services are rendered in accordance with actuarial studies made by independent actuaries. The formal retirement plans are congruent with and complementary to the retirement benefits established by the Mexican Institute of Social Security. Additionally, the Company has established a plan to cover health-care expenses of retired employees. The Company has established a commitment for the payment of pensions and seniority premiums, as well as for health-care expenses. The defined contribution plans provide a benefit equivalent to the capital accumulated with the company's contributions, which are provided as a match of employees' contributions to the plan. The plan provides vested rights according to the years of service and the cause of retirement. Argentina Ternium Argentina implemented an unfunded defined benefit employee retirement plan for certain senior officers. The plan is designed to provide certain benefits to those officers (additional to those contemplated under applicable Argentine labor laws) in case of termination of the employment relationship due to certain specified events, including retirement. This unfunded plan provides defined benefits based on years of service and final average salary. (2) Termination benefits Termination benefits are payable when employment is terminated before the normal retirement date, or whenever an employee accepts voluntary redundancy in exchange for these benefits. The Company recognizes termination benefits when it is demonstrably committed to either: (i) terminating the employment of current employees according to a detailed formal plan without possibility of withdrawal or (ii) providing termination benefits as a result of an offer made to encourage voluntary redundancy. (3) Other compensation obligations Employee entitlements to annual leave and long-service leave are accrued as earned. During 2007, Ternium launched an incentive retention program (the "Program") applicable to certain senior officers and employees of the Company, who will be granted a number of Units throughout the duration of the Program. The value of each of these Units is based on Ternium's shareholders' equity (excluding non-controlling interest). Also, the beneficiaries of the Program are entitled to receive cash amounts based on (i) the amount of dividend payments made by Ternium to its shareholders, and (ii) the number of Units held by each beneficiary to the Program. Units vest ratably over a period of four years and will be redeemed by the Company ten years after grant date, with the option of an early redemption at seven years after grant date. From 2018 units were vest ratably over the same period and will be mandatorily redeemed by the Company seven years after grant date. As the cash payment of the benefit is tied to the book value of the shares, and not to their market value, Ternium valued this long-term incentive program as a long term benefit plan as classified in IAS 19. As of December 31, 2019 and 2018 , the outstanding liability corresponding to the Program amounts to $ 36.2 million and $ 43.0 million , respectively. The total value of the units granted to date under the program, considering the number of units and the book value per share as of December 31, 2019 and 2018 , is $ 36.0 million and $ 42.2 million , respectively. Under Mexican law, Ternium's subsidiaries are required to pay their employees an annual benefit which is determined as a percentage of taxable profit for the year. (4) Social security contributions Social security laws in force in the countries in which the Company operates provide for pension benefits to be paid to retired employees from government pension plans and/or private fund managed plans to which employees may elect to contribute. As stipulated by the respective laws, Ternium Argentina and Ternium Mexico make monthly contributions calculated based on each employee's salary to fund such plans. The related amounts are expensed as incurred. No additional liabilities exist once the contributions are paid.
Provisions	Ternium has certain contingencies with respect to existing or potential claims, lawsuits and other proceedings. Unless otherwise specified, Ternium accrues a provision for a present legal or constructive obligation as a result of a past event, when it is probable that future cost could be incurred and that cost can be reasonably estimated. Generally, accruals are based on developments to date, Ternium's estimates of the outcomes of these matters and the advice of Ternium's legal advisors.
Trade payables	Trade payables are recognized initially at fair value and subsequently measured at amortized cost using the effective interest method.
Revenue recognition and other income	Revenue is recognized at a point of time from sales to direct customers upon the satisfaction of performance obligations, which occurs when control of the goods transfers to the customer and the customer obtains the benefits from the goods, the potential cash flows and the transaction price can be measured reliably, and it is probable that the Company will collect the consideration in connection with the exchange of the goods. The control over the goods is obtained by the customer depending on when the goods are made available to the shipper or the customer takes possession of the goods, depending on the delivery terms. The Company considers that it has completed its performance obligations when the goods are delivered to its customers or to a shipper who will transport the goods to its customers. The revenue recognized by the Company is measured at the transaction price of the consideration received or receivable to which the Company is entitled to, reduced by estimated returns and other customer credits, such as discounts and volume rebates, based on the expected value to be realized and after eliminating sales within the group. Interest income is recognized on an effective yield basis.
Borrowing Costs	General and specific borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset are capitalized during the period of time that is required to complete and prepare the asset for its intended use or sale. Qualifying assets are assets that necessarily take a substantial period of time to get ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalization. Other borrowing costs are expensed in the period in which they are incurred.
Cost of sales, selling, general and administrative expenses	Cost of sales and expenses are recognized in the income statement on the accrual basis of accounting. Commissions, freight and other selling expenses, including shipping and handling costs, are recorded in Selling, general and administrative expenses in the Consolidated Income Statement.
Stripping costs	Stripping costs are the costs associated with the removal of overburden and other waste materials and can be incurred before the mining production commences (“development stripping”) or during the production stage (“production stripping”). Development stripping costs that contribute to the future economic benefits of mining operations are capitalized as intangible assets (Mining assets). Production stripping costs which are part of on-going activities are included in the cost of the inventory produced (that is extracted) at each mine during the period in which they are incurred. Capitalization of development stripping costs finishes when the commercial production of the mine commences. At that time, all development stripping costs are presented within Mining assets and depreciated on a unit-of-production basis. It is considered that commercial production begins when the production stage of mining operations begins and continues throughout the life of a mine.
Mining development costs	Mining development costs are the costs associated to the activities related to the establishment of access to the mineral reserve and other preparations for commercial production. These activities often continue during production. Development expenditures are capitalized and classified as Work in progress. On completion of development, all assets included in Work in progress are individually reclassified to the appropriate category of property, plant and equipment and depreciated accordingly.
Asset retirement obligations	Ternium records asset retirement obligations (“ARO”) initially at the fair value of the legal or constructive obligation in the period in which it is incurred and capitalizes the ARO by increasing the carrying amount of property, plant and equipment. The fair value of the obligation is determined as the discounted value of the expected future cash flows and is included in Provisions. The liability is accreted to its present value through net financing cost and the capitalized cost is depreciated based in the unit of production method.
Earnings per share	Earnings per share are calculated by dividing the net income attributable to shareholders by the daily weighted average number of ordinary shares issued during the year, excluding the average number of shares of the parent Company held by the Group. There are no dilutive securities for the periods presented.
Derivative financial instruments and hedging activities	Ternium designates certain derivatives as hedges of a particular risk associated with a recognized asset or liability or a highly probable forecast transaction. These transactions are classified as cash flow hedges (mainly interest rate swaps, collars, currency forward contracts on highly probable forecast transactions and commodities contracts). The effective portion of the fair value of derivatives that are designated and qualify as cash flow hedges is recognized in OCI. Amounts accumulated in OCI are recognized in the income statement in the same period as any offsetting losses and gains on the hedged item. The gain or loss relating to the ineffective portion is recognized immediately in the income statement. The fair value of Ternium derivative financial instruments (asset or liability) continues to be reflected in the statement of financial position. For transactions designated and qualifying for hedge accounting, Ternium documents the relationship between hedging instruments and hedged items, as well as its risk management objectives and strategy for undertaking various hedge transactions. At December 31, 2019 and 2018 , the effective portion of designated cash flow hedges (net of taxes) amounted to $ (0.1) million and $ 0.5 million , respectively, and were included under "changes in the fair value of derivatives classified as cash flow hedges" line item in the statement of comprehensive income (see Note 27 (a)). More information about accounting for derivative financial instruments and hedging activities is included in Note 30 "Financial risk management".
Treasury shares	Acquisitions of treasury shares are recorded at acquisition cost, deducted from equity until disposal. The gains and losses on disposal of treasury shares are recognized under "Reserves" in the consolidated statement of financial position.
Cash flow	The consolidated statements of cash flows have been prepared using the indirect method and contain the use of the following expressions and their respective meanings: a) Operating activities: activities that constitute ordinary Group revenues, as well as other activities that cannot be qualified as investing or financing. b) Investing activities: acquisition, sale or disposal by other means of assets in the long-term and other investments not included in cash and cash equivalents. c) Financing activities: activities that generate changes in the size and composition of net equity and liabilities that do not form part of operating activities.
Critical accounting estimates	The preparation of financial statements requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and the related disclosure of contingent assets and liabilities. Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Management makes estimates and assumptions concerning the future. Actual results may differ significantly from these estimates under different assumptions or conditions. The principal estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below. (1) Goodwill impairment test Assessment of the recoverability of the carrying value of goodwill requires significant judgment. Management evaluates goodwill allocated to the operating units for impairment on an annual basis or whenever there is an impairment indicator. Goodwill is tested at the level of the CGUs. Impairment testing of the CGUs is carried out and the value in use determined in accordance with the accounting policy stated in Note 4(f). The discount rates used for these tests are based on Ternium's weighted average cost of capital adjusted for specific country and currency risks associated with the cash flow projections. The discount rate used at December 31, 2019 was 9.80% and no impairment charge resulted from the impairment test performed. See notes 4(f) and 4(e)(4). (2) Income taxes Management calculates current and deferred income taxes according to the tax laws applicable to each subsidiary in the countries in which such subsidiaries operate. However, due to uncertain tax positions, certain adjustments necessary to determine the income tax provision are finalized only after the balance sheet is issued. In cases in which the final tax outcome is different from the amounts that were initially recorded, such differences will impact the income tax and deferred tax provisions in the period in which such determination is made. Also, when assessing the recoverability of tax assets, management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies. (3) Loss contingencies Ternium is subject to various claims, lawsuits and other legal proceedings that arise in the ordinary course of business, including customer claims in which a third party is seeking reimbursement or indemnity. The Company's liability with respect to such claims, uncertain tax positions, lawsuits and other legal proceedings cannot be estimated with certainty. Periodically, management reviews the status of each significant matter and assesses potential financial exposure. If the potential loss from the claim or proceeding is considered probable and the amount can be reasonably estimated, a liability is recorded. Management estimates the amount of such liability based on the information available and the assumptions and methods it has concluded are appropriate, in accordance with the provisions of IFRS. Accruals for such contingencies reflect a reasonable estimate of the losses to be incurred based on information available, including the relevant litigation or settlement strategy, as of the date of preparation of these financial statements. As additional information becomes available, management will reassess its evaluation of the pending claims, lawsuits and other proceedings and revise its estimates. The loss contingencies provision amounts to $ 613.4 million and $ 643.9 million as of December 31, 2019 and 2018 , respectively (see note 3). (4) Allowance for obsolescence of supplies and spare parts and slow-moving inventory Management assesses the recoverability of its inventories considering their selling prices or whether they are damaged or have become wholly or partly obsolete. Net realizable value is the estimated selling price in the ordinary course of business, less the costs of completion and selling expenses. The Company establishes an allowance for obsolete or slow-moving inventory in connection with finished goods and goods in process. The allowance for slow-moving inventory is recognized for finished goods and goods in process based on management's analysis of their aging. In connection with supplies and spare parts, the calculation is based on management's analysis of their aging, the capacity of such materials to be used based on their levels of preservation and maintenance, and their potential obsolescence due to technological change. As of December 31, 2019 and 2018 , the Company recorded no allowance for net realizable value and $ 62.2 million and $ 55.5 million , respectively, as allowance for obsolescence. (5) Useful Lives and Impairment of Property, Plant and Equipment and Other Long-lived Assets In determining useful lives, management considered, among others, the following factors: age, operating condition and level of usage and maintenance. Management conducted visual inspections for the purpose of (i) determining whether the current conditions of such assets are consistent with normal conditions of assets of similar age; (ii) confirming that the operating conditions and levels of usage of such assets are adequate and consistent with their design; (iii) establishing obsolescence levels and (iv) estimating life expectancy, all of which were used in determining useful lives. Management believes, however, that it is possible that the periods of economic utilization of property, plant and equipment may be different than the useful lives so determined. Furthermore, management believes that this accounting policy involves a critical accounting estimate because it is subject to change from period to period as a result of variations in economic conditions and business performance. When assessing whether an impairment indicator may exist, the Company evaluates both internal and external sources of information, such as the following: • whether significant changes with an adverse effect on the entity have taken place during the period, or will take place in the near future, in the technological, market, economic or legal environment in which the entity operates or in the market to which an asset is dedicated; • whether market interest rates or other market rates of return on investments have increased during the period, and those increases are likely to affect the discount rate used in calculating an asset's value in use and decrease the asset's recoverable amount materially; • whether the carrying amount of the net assets of the entity is more than its market capitalization; • whether evidence is available of obsolescence or physical damage of an asset. • whether significant changes with an adverse effect on the entity have taken place during the period, or are expected to take place in the near future, in the extent to which, or manner in which, an asset is used or is expected to be used. These changes include the asset becoming idle, plans to discontinue or restructure the operation to which an asset belongs, plans to dispose of an asset before the previously expected date, and reassessing the useful life of an asset as finite rather than indefinite; and • whether evidence is available from internal reporting that indicates that the economic performance of an asset is, or will be, worse than expected. Considering the economic situation in Argentina, the Company tested the recoverability of its investment in Ternium Argentina as of December 31, 2019, resulting in no impairment charges to be recognized. Considering that no impairment indicators were identified in the rest of subsidiaries as of December 31, 2019 and 2018 , the Company additionally tested the value of the goodwill for impairment, resulting in no impairment charges to be recognized. (6) Mining reserve estimates Reserves are estimates of the amount of product that can be economically and legally extracted from the Company’s mining concessions. In order to estimate reserves, a range of geological, technical and economic factors is required to be considered. Estimating the quantity and/or grade of reserves requires complex and difficult geological judgments to interpret the data. Because the economic assumptions used to estimate reserves change from period to period, and because additional geological data is generated during the course of operations, estimates of reserves may change from period to period. Changes in reported reserves may affect the Company’s financial results and financial position, including the following: • Asset carrying amounts may be affected due to changes in estimated future cash flows. • Depreciation and amortization charges may change where such charges are determined by the units of production basis, or where the useful economic lives of assets change. • Stripping costs recognized in Mining assets or charged to results may change due to changes in stripping ratios or the units of production basis of depreciation. • Asset retirement obligations may change where changes in estimated reserves affect expectations about the timing or cost of these activities. (7) Post-employment obligation estimates The Company estimates at each year-end the provision necessary to meet its post-employment obligations in accordance with the advice from independent actuaries. The calculation of post-employment and other employee obligations requires the application of various assumptions. The main assumptions for post-employment and other employee obligations include discount rates, compensation growth rates, pension growth rates and life expectancy. Changes in the assumptions could give rise to adjustments in the results and liabilities recorded and might have an impact on the post-employment and other employee obligations recognized in the future. (8) Business combinations The recognition of business combinations requires the excess of the purchase price of acquisitions over the net book value of assets acquired to be allocated to the assets and liabilities of the acquired entity. The Company makes judgments and estimates in relation to the fair value allocation of the purchase price. If any unallocated portion is positive, it is recognized as goodwill, and if negative, it is recognized in the income statement. See further information in Note 3. (9) Valuation of lease liabilities and right-of-use assets The application of IFRS 16 requires the Company to make judgments that affect the recognition and valuation of the lease liabilities and the right-of-use assets, including the determination of the contracts within the scope of the Standard, the contract term and the interest rate used for the discount of future cash flows. The lease term determined by the Company generally comprises non-cancellable period of leases contracts, periods covered by an option to extend the lease if the Company is reasonably certain to exercise that option and periods covered by an option to terminate the lease if the Company is reasonably certain not to exercise that option. The same term is applied as economic useful life of right-of-use assets. The present value of the lease payments is determined using the discount rate representing a risk-free interest rate, adjusted by a spread related to the credit quality of the Company in each location and currency rate in connection with each lease contract.
Application of IAS 29 in financial reporting of Argentine subsidiaries and associates	IAS 29 “Financial Reporting in Hyperinflationary Economies” requires that the financial statements of entities whose functional currency is that of a hyperinflationary economy to be adjusted for the effects of changes in a suitable general price index and to be expressed in terms of the current unit of measurement at the closing date of the reporting period. Accordingly, the inflation produced from the date of acquisition or from the revaluation date, as applicable, must be computed in the non-monetary items. In order to conclude on whether an economy is categorized as hyperinflationary under the terms of IAS 29, the Standard details a series of factors to be considered, including the existence of a cumulative inflation rate in three years that approximates or exceeds 100%. Considering that the downward trend in inflation in Argentina observed in the previous year has reversed and observing a significant increase in inflation during 2018, which exceeded the 100% three-year cumulative inflation rate, and that the rest of the indicators do not contradict the conclusion that Argentina should be considered a hyperinflationary economy for accounting purposes, the Company considered that there was sufficient evidence to conclude that Argentina is a hyperinflationary economy under the terms of IAS 29 as from July 1, 2018, and, accordingly, applied IAS 29 as from that date in the financial reporting of its subsidiaries and associates with the Argentine peso as functional currency. According to this principle, the financial statements of an entity that reports in the currency of a hyperinflationary economy should be stated in terms of the measuring unit current on the date of the financial statements. All statement of financial position amounts that are not stated in terms of the measuring unit current on the date of the financial statements must be restated by applying a general price index. All income statement components must be stated in terms of the measuring unit current on the date of the financial statements, applying the change in the general price index that occurred since the date when revenues and expenses were originally recognized in the financial statements. The inflation adjustment on the initial balances was calculated by means of conversion factor derived from the Argentine price indexes published by the National Institute of Statistics (“INDEC”). The price index for the year period ended December 31, 2019, was 1.54. The main procedures for the above-mentioned adjustment are as follows: • Monetary assets and liabilities which are carried at amounts current at the balance sheet date are not restated because they are already expressed in terms of the monetary unit current at the balance sheet date. • Non-monetary assets and liabilities which are not carried at amounts current at the balance sheet date, and components of shareholders' equity are adjusted by applying the relevant conversion factors. • All items in the income statement are restated by applying the relevant conversion factors. • The effect of inflation on the Company’s net monetary position is included in the income statement, in Other financial income (expenses), net, under the caption “Inflation adjustment results”. • The ongoing application of the re-translation of comparative amounts to closing exchanges rates under IAS 21 and the hyperinflation adjustments required by IAS 29 will lead to a difference in addition to the difference arising on the adoption of hyperinflation accounting. The comparative figures in these consolidated financial statements presented in a stable currency are not adjusted for subsequent changes in the price level or exchange rates. This resulted in an initial difference, arising on the adoption of hyperinflation accounting, between the closing equity of the previous year and the opening equity of the current year. The Company recognized this initial difference directly in equity.
Recently issued accounting pronouncements	International Financial Reporting Standard 16, "Leases" In January 2016, the IASB issued IFRS 16, "Leases", which will result in almost all leases being recognized on the balance sheet, as the distinction between operating and finance leases is removed. Under the new standard, an asset (the right to use the leased item) and a financial liability to pay rentals are recognized. IFRS 16 was adopted following the simplified approach, without restating comparative. The reclassifications and the adjustments arising from the new lease accounting rules are directly recognized in the opening balance sheet on January 1, 2019. Property, plant and equipment Lease liabilities Lease liabilities Closing balance as of December 31, 2018 - IFRS 16 5,817,609 8,030 65,798 Initial recognition of right-of-use assets 280,493 — — Initial recognition of lease liabilities — 34,848 245,645 Opening balance as of January 1, 2019 - IFRS 16 6,098,102 42,878 311,443 (*) Lease liabilities in the Consolidated Financial Statements as of December 31, 2018. On adoption of IFRS 16, the Company recognized lease liabilities in relation to leases which had previously been classified as ‘operating leases’ under the principles of IAS 17 Leases. For the initial recognition, these liabilities were measured at the present value of the remaining lease payments, discounted using the lessee’s incremental borrowing rate as of January 1, 2019. The weighted average lessee’s incremental borrowing rate applied to the lease liabilities on January 1, 2019, was of 4.05% . The difference between the amount of the lease liability recognized in the statement of financial position at the date of initial application and the operating lease commitments under IAS 17 is due to leases with a duration lower than 12 months and leases with a value lower than thirty thousand dollars and/or with clauses related to variable payments. The adoption of IFRS 16 Leases from January 1, 2019, resulted in changes in accounting policies and adjustments to the amounts recognized in the financial statements .

BASIS OF PRESENTATION (Tables)

BASIS OF PRESENTATION (Tables)	12 Months Ended
	Dec. 31, 2019
Disclosure of notes and other explanatory information [Abstract]
Disclosure of interests in subsidiaries	Detailed below are the companies whose financial statements have been consolidated and accounted for interest in these consolidated financial statements 2. BASIS OF PRESENTATION (continued) Country of Percentage of ownership at December 31, Company Organization Main activity 2019 2018 2017 Ternium S.A. Luxembourg Holding 100.00 % 100.00 % 100.00 % Ternium Investments S.à.r.l. Luxembourg Holding 100.00 % 100.00 % 100.00 % Ternium Participaçoes S.A. (1) (formerly Ternium Brasil S.A.) Brazil Holding 100.00 % 100.00 % 100.00 % Ternium Internacional España S.L. (1) Spain Holding and marketing of steel products 100.00 % 100.00 % 100.00 % Ternium Investments Switzerland AG (1) Switzerland Holding 100.00 % 100.00 % 100.00 % Ternium USA Inc. (1) USA Manufacturing and selling of steel products 100.00 % 100.00 % 100.00 % Ternium Argentina S.A. (formerly Siderar S.A.I.C.) (2) Argentina Manufacturing and selling of flat steel products 61.50 % 60.94 % 60.94 % Impeco S.A. (3) Argentina Manufacturing of pipe products 61.54 % 60.97 % 60.97 % Prosid Investments S.A. (4) Uruguay Holding 61.51 % 60.94 % 60.94 % Ternium Mexico S.A. de C.V. (5) Mexico Manufacturing and selling of steel products 88.94 % 88.78 % 88.78 % Hylsa S.A. de C.V. (6) Mexico Manufacturing and selling of steel products 88.94 % 88.78 % 88.78 % Las Encinas S.A. de C.V. (6) Mexico Exploration, exploitation and pelletizing of iron ore 88.94 % 88.78 % 88.78 % Ferropak Comercial S.A. de C.V. (6) Mexico Scrap services company 88.94 % 88.78 % 88.78 % Transamerica E. & I. Trading Corp. (6) USA Scrap services company 88.94 % 88.78 % 88.78 % Técnica Industrial S.A. de C.V. (6) Mexico Services 88.94 % 88.78 % 88.78 % Galvacer Chile S.A. (6) Chile Distributing company 88.94 % 88.78 % 88.78 % Ternium Gas México S.A. de C.V. (7) Mexico Energy services company 88.94 % 88.78 % 88.78 % Consorcio Minero Benito Juarez Peña Colorada S.A.de C.V. (8) Mexico Exploration, exploitation and pelletizing of iron ore 44.47 % 44.39 % 44.39 % Peña Colorada Servicios S.A. de C.V. (8) Mexico Services 44.47 44.39 % 44.39 % Exiros B.V. (8) Netherlands Procurement and trading services 50.00 % 50.00 % 50.00 % Servicios Integrales Nova de Monterrey S.A. de C.V. (9) Mexico Medical and Social Services 66.26 % 66.14 % 66.14 % Ternium Internacional Nicaragua S.A. Nicaragua Manufacturing and selling of steel products 99.38 % 99.38 % 99.38 % Ternium Internacional Honduras S.A. de C.V. Honduras Manufacturing and selling of steel products 99.18 % 99.18 % 99.18 % Ternium Internacional El Salvador S.A. de C.V. El Salvador Manufacturing and selling of steel products 99.92 % 99.92 % 99.92 % Ternium Internacional Costa Rica S.A. Costa Rica Manufacturing and selling of steel products 99.98 % 99.98 % 99.98 % Ternium Internacional Guatemala S.A. (10) Guatemala Manufacturing and selling of steel products 99.98 % 99.98 % 99.98 % Ternium Colombia S.A.S. (formerly Ferrasa S.A.S.) (10) Colombia Manufacturing and selling of steel products 100.00 % 100.00 % 100.00 % Ternium del Cauca S.A.S. (formerly Perfilamos del Cauca S.A.S.) (10) Colombia Manufacturing and selling of steel products 100.00 % 100.00 % 100.00 % Ternium Siderúrgica de Caldas S.A.S. (formerly Siderúrgica de Caldas S.A.S.) (10) Colombia Manufacturing and selling of steel products 100.00 % 100.00 % 100.00 % Tenigal S. de R.L. de C.V. (11) Mexico Manufacturing and selling of steel products 51.00 % 51.00 % 51.00 % Ternium Internacional S.A. Uruguay Marketing of steel products 100.00 % 100.00 % 100.00 % Ternium Treasury Services S.A. Uruguay Financial Services 100.00 % 100.00 % 100.00 % Ternium Internationaal B.V. (12) Netherlands Marketing of steel products 100.00 % 100.00 % 100.00 % Ternium International Inc. (12) Panama Marketing of steel products 100.00 % 100.00 % 100.00 % Ternium Procurement S.A. (13) Uruguay Marketing of steel products and procurement services 100.00 % 100.00 % 100.00 % 2. BASIS OF PRESENTATION (continued) Country of Percentage of ownership at December 31, Company Organization Main activity 2019 2018 2017 Technology & Engineering Services S.A. (13) Uruguay Engineering and other services 100.00 % 100.00 % 100.00 % Soluciones Integrales de Gestión S.A. (14) Argentina Other services 100.00 % 100.00 % 100.00 % Ternium Staal B.V. (15) Netherlands Holding and marketing of steel products 100.00 % 100.00 % 100.00 % Ternium Brasil Ltda. (15) Brazil Manufacturing and selling of steel products 100.00 % 100.00 % 100.00 % Ternium del Atlántico S.A.S (16) Colombia Manufacturing and selling of steel products 100.00 % 100.00 % 100.00 % Ternium Solutions S.A. (fomerly Tericer Trading S.A.) (17) Uruguay Other services 100.00 % 100.00 % — Imsamex Ecuador S.A. (18) Ecuador Distributing company — 88.78 % 88.78 % Ternium Solutions A.G. (19) Switzerland Other services — 100.00 % 100.00 % Ternium Ingeniería y Servicios de México S.A. de C.V. (20) Mexico Engineering and other services — 99.89 % 99.89 % Ternium International USA Corporation (21) USA Marketing of steel products — 100.00 % 100.00 % Acedor S.A. de C.V. (22) Mexico Holding — — 88.78 % Ecosteel Gestao de Águas Industriais S.A. (23) Brazil Other services — — 100.00 % Ecosteel Gestao de Efuentes Industriais S.A. (24) Brazil Other services — — 100.00 % Galvatubing Inc. (25) USA Manufacturing and selling of pipe products — — 88.78 % Galvamet America Corp. (26) USA Manufacturing and selling of insulated panel products — — 88.78 % Ternium Internacional de Colombia S.A.S. (27) Colombia Marketing of steel products — — 100.00 % (1) Indirectly through Ternium Investments S.à.r.l. Total voting rights held: 100.00% . (2) Since the third quarter of 2019, indirectly through Ternium Internacional España S.L. Total voting rights held 61.50% . Before that, indirectly through Ternium Internacional España S.L. total voting rights was 60.94% . During the fourth quarter of 2017, Siderar S.A.I.C. changed its business name to Ternium Argentina S.A. (3) Since the fourth quarter of 2017, indirectly through Ternium Argentina S.A. and Soluciones Integrales de Gestión S.A. Total voting rights held 100.00% . Before that, indirectly through Ternium Argentina S.A. and Ternium Internacional S.A. (4) Since the fourth quarter of 2017, indirectly through Ternium Argentina S.A. and Ternium Procurement S.A. Total voting rights held 100.00% . Before that, indirectly through Ternium Argentina S.A. and Ternium Internacional S.A. (5) Since the fourth quarter of 2017, indirectly through Ternium Argentina S.A. and Ternium Internacional España S.L. Total voting rights held 100.00% . Before that, indirectly through Ternium Argentina S.A., Ternium Internacional S.A. and Ternium Internacional España S.L. (6) Indirectly through Ternium Mexico S.A. de C.V. Total voting rights held: 100.00% . (7) Indirectly through Ternium Mexico S.A. de C.V. and Tenigal S. de R.L. de C.V. Total voting rights held: 100.00% . (8) Total voting rights held: 50.00% . The Company recognizes the assets, liabilities, revenue and expenses in relation to its interest in the joint operation. (9) Indirectly through Ternium Mexico S.A. de C.V. Total voting rights held: 74.50% . (10) Indirectly through Ternium Internacional España S.L. Total voting rights held: 100.00% . (11) Indirectly through Ternium Internacional España S.L. Total voting rights held: 51.00% . (12) Since the third quarter of 2017, indirectly through Ternium Investments S.à r.l. Total voting rights held: 100.00% . Before that, indirectly through Ternium Investments Switzerland AG. (13) Since the third quarter of 2017, indirectly through Ternium Internacional España S.L. Total voting rights held: 100.00% . Before that, indirectly through Ternium Investments Switzerland AG. (14) Since the third quarter of 2017, indirectly through Ternium Investments S.à r.l. and Ternium Internacional España S.L. Total voting rights held 100.00% . Before that, indirectly through Ternium Investments S.à r.l. and Technology and Engineering Services S.A. (15) Indirectly through Ternium Investments S.à.r.l. Total voting rights held: 100.00% . (16) Indirectly through Ternium Internacional España S.L. Total voting rights held: 100.00% . (17) Indirectly through Ternium Investments S.à.r.l. Total voting rights held: 100.00% . (18) This company was dissolved as of December 19, 2019. (19) This company was dissolved as of July 3, 2019. (20) This company was dissolved as of March 29, 2019. (21) Merged with Ternium USA Inc. during the first quarter of 2019. (22) Merged with Ternium México S.A. de C.V. during the fourth quarter of 2018. (23) This company was dissolved as of December 3, 2018. (24) This company was dissolved as of May 4, 2018. (25) This company was dissolved as of July 19, 2018. (26) This company was dissolved as of August 3, 2018. (27) This company was dissolved as of October 3, 2018.

ACQUISITION OF BUSINESS (Tables

ACQUISITION OF BUSINESS (Tables)	12 Months Ended
	Dec. 31, 2019
Disclosure of detailed information about business combination [abstract]
Preliminary allocation of the fair value determined for the assets and liabilities arising from the acquisition	The allocation of the fair values determined for the assets and liabilities arising from the acquisition was as follows: Fair value of acquired assets and liabilities: Property, plant and equipment and Intangible assets 1,573,946 Inventories 400,047 Cash and cash equivalents 278,162 Trade receivables 63,710 Other receivables 705,058 Deferred tax assets 13,686 Provisions (799,938 ) Trade payables (219,604 ) Other assets and liabilities, net (124,078 ) Net assets acquired 1,890,989

ACCOUNTING POLICIES (Tables)

ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2019
Disclosure of significant accounting policies [Abstract]
Disclosure of detailed information about property, plant and equipment	Depreciation is calculated using the straight-line method to amortize the cost of each asset to its residual value over its estimated useful life as follows: Land No depreciation Buildings and improvements 10-50 years Production equipment 5-40 years Vehicles, furniture and fixtures and other equipment 3-20 years Year ended December 31, 2019 Land Buildings and improvements Production equipment Vehicles, furniture and fixtures Work in progress Spare parts Right-of-use assets Total Values at the beginning of the year Cost 587,174 3,303,174 6,748,644 264,782 617,950 124,220 55,288 11,701,232 Accumulated depreciation — (1,520,976 ) (4,126,060 ) (217,394 ) — (13,275 ) (5,918 ) (5,883,623 ) Net book value at January 1, 2019 587,174 1,782,198 2,622,584 47,388 617,950 110,945 49,370 5,817,609 Opening net book value 587,174 1,782,198 2,622,584 47,388 617,950 110,945 49,370 5,817,609 Effect of initial recognition under IFRS 16 — — — — — — 280,493 280,493 Translation differences (596 ) (16,174 ) (9,959 ) (316 ) (1,716 ) (1,089 ) (1,263 ) (31,113 ) Additions 7,531 9,367 2,063 4,821 923,599 38,476 40,864 1,026,721 Capitalized borrowing costs — — — — 16,085 — — 16,085 Disposals / Consumptions — (750 ) (117 ) (1,204 ) (2,988 ) (21,489 ) (18,901 ) (45,449 ) Transfers 326 154,544 264,122 14,843 (433,582 ) (50 ) — 3,125 Depreciation charge — (135,163 ) (324,112 ) (15,167 ) — (6,421 ) (44,105 ) (524,968 ) Closing net book value 594,435 1,794,022 2,554,581 50,365 1,119,348 120,372 306,458 6,539,581 Values at the end of the year Cost 594,435 3,412,904 6,931,970 268,398 1,119,348 140,028 355,928 12,823,011 Accumulated depreciation — (1,618,882 ) (4,377,389 ) (218,033 ) — (19,656 ) (49,470 ) (6,283,430 ) Net book value at December 31, 2019 594,435 1,794,022 2,554,581 50,365 1,119,348 120,372 306,458 6,539,581 Year ended December 31, 2018 Land Buildings and improvements Production equipment Vehicles, furniture and fixtures Work in progress Spare parts Right-of-use assets Total Values at the beginning of the year Cost 562,042 2,096,959 4,927,478 151,883 456,021 113,188 — 8,307,571 Accumulated depreciation — (563,523 ) (2,286,828 ) (104,303 ) — (3,164 ) — (2,957,818 ) Net book value at January 1, 2018 562,042 1,533,436 2,640,650 47,580 456,021 110,024 — 5,349,753 Opening net book value 562,042 1,533,436 2,640,650 47,580 456,021 110,024 — 5,349,753 Effect of initial inflation adjustment (Note 4 (cc)) 19,646 434,683 282,577 5,698 25,568 19,858 — 788,030 Translation differences (2,217 ) (140,879 ) (124,066 ) (5,102 ) (29,005 ) (10,836 ) — (312,105 ) Additions 1,888 4,083 3,647 3,569 446,002 23,880 — 483,069 Capitalized borrowing costs — — — — 7,368 — — 7,368 Disposals / Consumptions — (93 ) (2,186 ) (1,236 ) (3,563 ) (24,470 ) — (31,548 ) Transfers 5,815 80,197 187,284 11,726 (284,441 ) 2,543 — 3,124 Depreciation charge — (129,229 ) (315,952 ) (14,847 ) — (10,055 ) — (470,083 ) Closing net book value 587,174 1,782,198 2,671,954 47,388 617,950 110,945 5,817,609 Values at the end of the year Cost 587,174 3,303,174 6,803,932 264,782 617,950 124,220 — 11,701,232 Accumulated depreciation — (1,520,976 ) (4,131,978 ) (217,394 ) — (13,275 ) — (5,883,623 ) Net book value at December 31, 2018 587,174 1,782,198 2,671,954 47,388 617,950 110,945 — 5,817,609

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2019
Disclosure of entity's operating segments [Abstract]
Disclosure of operating segments	Year ended December 31, 2019 Steel Mining Inter- segment eliminations Total IFRS Net sales 10,186,171 364,058 (357,411 ) 10,192,818 Cost of sales (8,552,493 ) (259,535 ) 359,588 (8,452,440 ) Gross profit 1,633,679 104,523 2,177 1,740,378 Selling, general and administrative expenses (885,146 ) (12,330 ) — (897,475 ) Other operating income, net 21,931 (268 ) — 21,663 Operating income - IFRS 770,466 91,924 2,177 864,566 Management view Net sales 10,230,650 417,619 (410,972 ) 10,237,297 Operating income 841,169 146,636 2,177 989,982 Reconciliation items: Differences in Cost of sales 99,315 Effect of inflation adjustment (Note 4 (cc)) (224,731 ) Operating income - IFRS 864,566 Financial income (expense), net (98,969 ) Equity in earnings (losses) of non-consolidated companies 60,967 Income before income tax expense - IFRS 826,564 Depreciation and amortization - IFRS (612,744 ) (48,368 ) — (661,112 ) Year ended December 31, 2018 Steel Mining Inter- segment eliminations Total IFRS Net sales 11,453,420 282,000 (280,613 ) 11,454,807 Cost of sales (8,524,890 ) (239,893 ) 281,455 (8,483,328 ) Gross profit 2,928,530 42,107 842 2,971,479 Selling, general and administrative expenses (860,881 ) (15,883 ) — (876,764 ) Other operating income, net 12,950 706 — 13,656 Operating income - IFRS 2,080,599 26,930 842 2,108,371 Management view Net sales 11,723,883 333,892 (332,505 ) 11,725,270 Operating income 1,768,115 91,418 (6,213 ) 1,853,319 Reconciliation items: Differences in Cost of sales 541,492 Effect of inflation adjustment (Note 4 (cc)) (286,440 ) Operating income - IFRS 2,108,371 Financial income (expense), net (179,576 ) Equity in earnings (losses) of non-consolidated companies 102,772 Income before income tax expense - IFRS 2,031,567 Depreciation and amortization - IFRS (537,885 ) (51,415 ) — (589,299 ) 5. SEGMENT INFORMATION (continued) Year ended December 31, 2017 Steel Mining Inter- segment eliminations Total IFRS Net sales 9,700,260 271,477 (271,441 ) 9,700,296 Cost of sales (7,465,751 ) (212,860 ) 275,586 (7,403,025 ) Gross profit 2,234,509 58,617 4,145 2,297,271 Selling, general and administrative expenses (811,487 ) (12,760 ) — (824,247 ) Other operating income, net (17,011 ) 771 — (16,240 ) Operating income - IFRS 1,406,011 46,628 4,145 1,456,784 Management view Net sales 9,700,260 287,152 (287,116 ) 9,700,296 Operating income 1,065,605 66,694 (1,291 ) 1,131,008 Reconciliation items: Differences in Cost of sales 325,776 Operating income - IFRS 1,456,784 Financial income (expense), net (165,090 ) Equity in earnings (losses) of non-consolidated companies 68,115 Income before income tax expense - IFRS 1,359,809 Depreciation and amortization - IFRS (424,529 ) (49,770 ) — (474,299 )
Disclosure of geographical areas	Year ended December 31, 2019 Mexico Southern region Other markets (2) Total Net sales 5,477,690 1,704,132 3,010,996 10,192,818 Non-current assets (1) 4,584,802 1,008,860 1,889,757 7,483,419 Year ended December 31, 2018 Mexico Southern region Other markets (2) Total Net sales 6,345,137 1,941,168 3,168,502 11,454,807 Non-current assets (1) 4,093,288 1,071,705 1,665,140 6,830,133 Year ended December 31, 2017 Mexico Southern region Other markets (2) Total Net sales 5,629,267 2,316,444 1,754,585 9,700,296 Non-current assets (1) 4,042,914 643,411 1,756,007 6,442,332 (1) Includes Property, plant and equipment and Intangible assets. (2) Includes the assets related to the business acquisition disclosed in note 3.
Disclosure of products and services	Year ended December 31, 2019 2018 2017 Semi-finished (1) 51,496 103,099 123,752 Slabs 1,753,090 1,818,235 715,513 Hot rolled (2) 3,275,941 3,961,144 3,366,697 Cold rolled 1,165,406 1,264,940 1,321,663 Coated (3) 3,263,463 3,506,040 3,391,328 Roll-formed and tubular (4) 380,688 437,514 472,253 Other products (5) 302,734 363,835 309,090 TOTAL SALES 10,192,818 11,454,807 9,700,296 (1) Semi-finished includes billets and round bars. (2) Hot rolled includes hot rolled flat products, merchant bars, reinforcing bars, stirrups and rods. (3) Coated includes tin plate and galvanized products. (4) Roll-formed and tubular includes tubes, beams, insulated panels, roofing and cladding, roof tiles, steel decks and pre-engineered metal building systems. (5) Other products include mainly sales of energy and pig iron.

COST OF SALES (Tables)

COST OF SALES (Tables)	12 Months Ended
	Dec. 31, 2019
Analysis of income and expense [abstract]
Schedule of cost of sales	Year ended December 31, 2019 2018 2017 Inventories at the beginning of the year 2,689,829 2,550,930 1,647,869 Acquisition of business (Note 3) — — 400,047 Effect of initial inflation adjustment (Note 4 (cc)) — 191,708 — Translation differences (21,919 ) (413,436 ) (97,148 ) Plus: Charges for the year Raw materials and consumables used and other movements 6,165,654 6,961,704 6,337,283 Services and fees 151,373 158,551 110,949 Labor cost 611,615 699,447 673,821 Depreciation of property, plant and equipment 508,934 456,522 348,415 Amortization of intangible assets 17,805 25,374 35,275 Maintenance expenses 467,090 519,625 480,496 Office expenses 8,513 8,586 7,350 Insurance 9,674 8,769 7,968 Charge of obsolescence allowance 8,413 17,322 (4,028 ) Recovery from sales of scrap and by-products (23,793 ) (27,744 ) (25,973 ) Others 17,550 15,799 31,631 Less: Inventories at the end of the year (2,158,298 ) (2,689,829 ) (2,550,930 ) Cost of Sales 8,452,440 8,483,328 7,403,025

SELLING, GENERAL AND ADMINIST_2

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2019
Analysis of income and expense [abstract]
Schedule of selling, general and administrative expense	Year ended December 31, 2019 2018 2017 Services and fees (1) 79,283 76,066 86,990 Labor cost 215,418 241,552 229,529 Depreciation of property, plant and equipment 16,034 13,561 12,345 Amortization of intangible assets 118,339 93,842 78,264 Maintenance and expenses 4,894 5,096 5,038 Taxes 104,014 95,072 98,786 Office expenses 35,956 35,663 35,922 Freight and transportation 307,958 300,676 259,898 (Decrease) Increase of allowance for doubtful accounts (293 ) 1,629 685 Others 15,872 13,607 16,790 Selling, general and administrative expenses 897,475 876,764 824,247 (1) For the year ended December 31, 2019 , it includes fees accrued for professional services rendered by PwC to Ternium S.A. and its subsidiaries that amounted to $ 3,804 , including $ 3,485 for audit services, $ 54 for audit-related services, $ 190 for tax services and $ 75 for all other services. For the year ended December 31, 2018 , it includes fees accrued for professional services rendered by PwC to Ternium S.A. and its subsidiaries that amounted to $ 4,704 , including $ 3,937 for audit services, $ 61 for audit-related services, $ 281 for tax services and $ 425 for all other services. For the year ended December 31, 2017 , it includes fees accrued for professional services rendered by PwC to Ternium S.A. and its subsidiaries that amounted to $ 3,501 , including $ 2,863 for audit services, $ 91 for audit-related services, $ 229 for tax services and $ 318 for all other services.

LABOR COSTS (Included Cost of_2

LABOR COSTS (Included Cost of sales and Selling, General and Administrative expenses) (Tables)	12 Months Ended
	Dec. 31, 2019
Labor Costs [Abstract]
Schedule of labor costs	Year ended December 31, 2019 2018 2017 Wages, salaries and social security costs 759,678 884,536 849,354 Termination benefits 28,269 26,601 25,783 Post-employment benefits (Note 21 (i)) 39,086 29,862 28,213 Labor costs 827,033 940,999 903,350

OTHER OPERATING INCOME (EXPEN_2

OTHER OPERATING INCOME (EXPENSES), NET (Tables)	12 Months Ended
	Dec. 31, 2019
Other operating income (expenses), net [Abstract]
Schedule of other operating income (expenses), net	Year ended December 31, 2019 2018 2017 Results of sundry assets 258 1,895 1,190 Provision for legal claims and other matters (Note 19 and 25 (ii)) 1,997 7,625 — Other operating income 19,408 4,136 — Other operating income 21,663 13,656 1,190 Provision for legal claims and other matters (Note 19 and 25 (ii)) — — (2,783 ) Other operating expense — — (14,647 ) Other operating expense — — (17,430 ) Other operating (expenses) income, net 21,663 13,656 (16,240 )

OTHER FINANCIAL INCOME (EXPEN_2

OTHER FINANCIAL INCOME (EXPENSES), NET (Tables)	12 Months Ended
	Dec. 31, 2019
Other financial income (expenses), net [Abstract]
Schedule of other financial income (expenses), net	Year ended December 31, 2019 2018 2017 Interest expense (88,284 ) (131,172 ) (114,583 ) Finance expense (88,284 ) (131,172 ) (114,583 ) Interest income 29,071 21,236 19,408 Finance income 29,071 21,236 19,408 Net foreign exchange (loss) gain (136,897 ) (177,645 ) (65,479 ) Inflation adjustment results (Note 4 (cc)) 117,956 191,427 — Change in fair value of financial assets — — (1,057 ) Derivative contract results (10,831 ) (99,259 ) 4,132 Others (9,984 ) 15,837 (7,511 ) Other financial income (expenses), net (39,756 ) (69,640 ) (69,915 )

INCOME TAX EXPENSE (Tables)

INCOME TAX EXPENSE (Tables)	12 Months Ended
	Dec. 31, 2019
Disclosure of income tax [Abstract]
Disclosure of major components of tax expense	Income tax expense for each of the years presented is as follows: Year ended December 31, 2019 2018 2017 Current tax (256,460 ) (588,773 ) (450,384 ) Effect of changes in tax law (1) 4,178 (28,596 ) — Deferred tax (Note 20) Deferred tax 38,785 232,485 106,047 Effect of changes in tax law (1) 16,979 — 7,455 Recovery of income tax (2) — 15,449 — Income tax expense (196,519 ) (369,435 ) (336,882 ) (1) For 2019 , it includes mainly the application of the new tax law in Argentina that enables the tax inflation adjustment. The reduction of the tax rate in Argentina enacted in 2017 was modified in 2019, setting the corporate income tax rate to 30% for the year 2020 and to 25% from the year 2021 going forward. For 2018, it includes mainly the option exercised by the Company of the asset revaluation for tax purpose in Argentina, for which an amount of $ 28.6 million s was included. For 2017, it includes the effects of the Argentine tax reform, which became effective starting January 1, 2018, including a reduction in the corporate income tax rate from 35% to 30% during the first two years (i.e., fiscal years starting on or after January 1, 2018 until December 31, 2019, inclusive) and to 25% going forward. Also, a one-time tax on an asset revaluation for tax purposes was approved. It also includes the effects of the U.S. tax reform, which among other provisions, reduced the U.S. corporate tax rate from 35% to 21% , effective January 1, 2018. This required a revaluation of the deferred tax assets and liabilities and certain current tax payables to the newly enacted tax rates at the date of enactment. Consequently, the Company has recorded a net adjustment to deferred income tax benefit of $ 5.2 million for the year ended December 31, 2017. (2) It includes the recovery of tax credits in Ternium Brasil Ltda.
Schedule of effective income tax rate reconciliation	Income tax expense for the years ended December 31, 2019 , 2018 and 2017 differed from the amount computed by applying the statutory income tax rate in force in each country in which the company operates to pre-tax income as a result of the following: Year ended December 31, 2019 2018 2017 Income before income tax 826,564 2,031,567 1,359,809 Income tax expense at statutory tax rate (247,592 ) (604,493 ) (387,666 ) Non taxable income 71,101 102,870 16,232 Non deductible expenses (476 ) (16,201 ) (24,070 ) Effect of currency translation on tax base (1) 33,133 161,536 51,167 Increase of unrecognized tax losses carried-forward (73,842 ) — — Recovery of income tax — 15,449 — Effect of changes in tax law 21,157 (28,596 ) 7,455 Income tax expense (196,519 ) (369,435 ) (336,882 ) (1) Ternium applies the liability method to recognize deferred income tax on temporary differences between the tax bases of assets and their carrying amounts in the financial statements. By application of this method, Ternium recognizes gains and losses on deferred income tax due to the effect of the change in the value on the tax basis in subsidiaries, which have a functional currency different to their local currency, mainly Mexico.

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)	12 Months Ended
	Dec. 31, 2019
Disclosure of detailed information about property, plant and equipment [abstract]
Disclosure of detailed information about property, plant and equipment	Depreciation is calculated using the straight-line method to amortize the cost of each asset to its residual value over its estimated useful life as follows: Land No depreciation Buildings and improvements 10-50 years Production equipment 5-40 years Vehicles, furniture and fixtures and other equipment 3-20 years Year ended December 31, 2019 Land Buildings and improvements Production equipment Vehicles, furniture and fixtures Work in progress Spare parts Right-of-use assets Total Values at the beginning of the year Cost 587,174 3,303,174 6,748,644 264,782 617,950 124,220 55,288 11,701,232 Accumulated depreciation — (1,520,976 ) (4,126,060 ) (217,394 ) — (13,275 ) (5,918 ) (5,883,623 ) Net book value at January 1, 2019 587,174 1,782,198 2,622,584 47,388 617,950 110,945 49,370 5,817,609 Opening net book value 587,174 1,782,198 2,622,584 47,388 617,950 110,945 49,370 5,817,609 Effect of initial recognition under IFRS 16 — — — — — — 280,493 280,493 Translation differences (596 ) (16,174 ) (9,959 ) (316 ) (1,716 ) (1,089 ) (1,263 ) (31,113 ) Additions 7,531 9,367 2,063 4,821 923,599 38,476 40,864 1,026,721 Capitalized borrowing costs — — — — 16,085 — — 16,085 Disposals / Consumptions — (750 ) (117 ) (1,204 ) (2,988 ) (21,489 ) (18,901 ) (45,449 ) Transfers 326 154,544 264,122 14,843 (433,582 ) (50 ) — 3,125 Depreciation charge — (135,163 ) (324,112 ) (15,167 ) — (6,421 ) (44,105 ) (524,968 ) Closing net book value 594,435 1,794,022 2,554,581 50,365 1,119,348 120,372 306,458 6,539,581 Values at the end of the year Cost 594,435 3,412,904 6,931,970 268,398 1,119,348 140,028 355,928 12,823,011 Accumulated depreciation — (1,618,882 ) (4,377,389 ) (218,033 ) — (19,656 ) (49,470 ) (6,283,430 ) Net book value at December 31, 2019 594,435 1,794,022 2,554,581 50,365 1,119,348 120,372 306,458 6,539,581 Year ended December 31, 2018 Land Buildings and improvements Production equipment Vehicles, furniture and fixtures Work in progress Spare parts Right-of-use assets Total Values at the beginning of the year Cost 562,042 2,096,959 4,927,478 151,883 456,021 113,188 — 8,307,571 Accumulated depreciation — (563,523 ) (2,286,828 ) (104,303 ) — (3,164 ) — (2,957,818 ) Net book value at January 1, 2018 562,042 1,533,436 2,640,650 47,580 456,021 110,024 — 5,349,753 Opening net book value 562,042 1,533,436 2,640,650 47,580 456,021 110,024 — 5,349,753 Effect of initial inflation adjustment (Note 4 (cc)) 19,646 434,683 282,577 5,698 25,568 19,858 — 788,030 Translation differences (2,217 ) (140,879 ) (124,066 ) (5,102 ) (29,005 ) (10,836 ) — (312,105 ) Additions 1,888 4,083 3,647 3,569 446,002 23,880 — 483,069 Capitalized borrowing costs — — — — 7,368 — — 7,368 Disposals / Consumptions — (93 ) (2,186 ) (1,236 ) (3,563 ) (24,470 ) — (31,548 ) Transfers 5,815 80,197 187,284 11,726 (284,441 ) 2,543 — 3,124 Depreciation charge — (129,229 ) (315,952 ) (14,847 ) — (10,055 ) — (470,083 ) Closing net book value 587,174 1,782,198 2,671,954 47,388 617,950 110,945 5,817,609 Values at the end of the year Cost 587,174 3,303,174 6,803,932 264,782 617,950 124,220 — 11,701,232 Accumulated depreciation — (1,520,976 ) (4,131,978 ) (217,394 ) — (13,275 ) — (5,883,623 ) Net book value at December 31, 2018 587,174 1,782,198 2,671,954 47,388 617,950 110,945 — 5,817,609
Disclosure of quantitative information about right-of-use assets [text block]	(2) Right-of-use assets Buildings and improvements Production equipment Vehicles, furniture and fixtures Total Values at the beginning of the year Cost — 55,288 — 55,288 Accumulated depreciation — (5,918 ) — (5,918 ) Net book value at January 1, 2019 — 49,370 — 49,370 Opening net book value — 49,370 — 49,370 Effect of initial recognition under IFRS 16 226,936 52,469 1,088 280,493 Translation differences (115 ) (1,148 ) — (1,263 ) Net additions 18,931 21,933 — 40,864 Disposal/Derecognition — (18,094 ) (807 ) (18,901 ) Depreciation charge (28,895 ) (14,929 ) (281 ) (44,105 ) Closing net book value 216,857 89,601 — 306,458 Values at the end of the year Cost 245,752 110,176 — 355,928 Accumulated depreciation (28,895 ) (20,575 ) — (49,470 ) Net book value at December 31, 2019 216,857 89,601 — 306,458

INTANGIBLE ASSETS, NET (Tables)

INTANGIBLE ASSETS, NET (Tables)	12 Months Ended
	Dec. 31, 2019
Disclosure of detailed information about intangible assets [abstract]
Schedule of changes in intangible assets, net	Year ended December 31, 2019 Information system projects Mining assets Exploration and evaluation costs Customer relationships and other contractual rights Trademarks Goodwill Total Values at the beginning of the year Cost 320,600 216,203 23,209 604,931 73,935 662,307 1,901,185 Accumulated depreciation (248,839 ) (139,915 ) — (425,972 ) (73,935 ) — (888,661 ) Net book value at January 1, 2019 71,761 76,288 23,209 178,959 — 662,307 1,012,524 Opening net book value 71,761 76,288 23,209 178,959 — 662,307 1,012,524 Translation differences (463 ) — — — — — (463 ) Additions 31,812 12,580 24,265 — — — 68,657 Disposals / Consumptions — — — — — — — Transfers (738 ) 27,954 (27,952 ) — — — (736 ) Depreciation charge (27,991 ) (12,305 ) — (95,848 ) — — (136,144 ) Closing net book value 74,381 104,517 19,522 83,111 — 662,307 943,838 Values at the end of the year Cost 342,857 256,736 19,522 604,929 73,935 662,307 1,960,286 Accumulated depreciation (268,476 ) (152,219 ) — (521,818 ) (73,935 ) — (1,016,448 ) Net book value at December 31, 2019 74,381 104,517 19,522 83,111 — 662,307 943,838 Year ended December 31, 2018 Information system projects Mining assets Exploration and evaluation costs Customer relationships and other contractual rights Trademarks Goodwill Total Values at the beginning of the year Cost 249,379 216,196 10,333 604,931 73,935 662,307 1,817,081 Accumulated depreciation (188,470 ) (121,859 ) — (340,238 ) (73,935 ) — (724,502 ) Net book value at January 1, 2018 60,909 94,337 10,333 264,693 — 662,307 1,092,579 Opening net book value 60,909 94,337 10,333 264,693 — 662,307 1,092,579 Effect of initial inflation adjustment (Note 4 (cc)) 4,966 — — — — — 4,966 Translation differences (6,674 ) — — — — — (6,674 ) Additions 27,594 10,243 2,641 — — — 40,478 Disposals / Consumptions (87 ) — — — — — (87 ) Transfers 480 (10,237 ) 10,235 — — — 478 Depreciation charge (15,427 ) (18,055 ) — (85,734 ) — — (119,216 ) Closing net book value 71,761 76,288 23,209 178,959 — 662,307 1,012,524 Values at the end of the year Cost 320,600 216,203 23,209 604,931 73,935 662,307 1,901,185 Accumulated depreciation (248,839 ) (139,915 ) — (425,972 ) (73,935 ) — (888,661 ) Net book value at December 31, 2018 71,761 76,288 23,209 178,959 — 662,307 1,012,524 The Company has not registered any impairment charges in connection with Goodwill.

INVESTMENTS IN NON-CONSOLIDAT_2

INVESTMENTS IN NON-CONSOLIDATED COMPANIES (Tables)	12 Months Ended
	Dec. 31, 2019
Disclosure of unconsolidated structured entities [line items]
Disclosure of interest in non-consolidated companies	As of December 31, 2019 2018 At the beginning of the year 495,241 478,348 Equity in earnings of non-consolidated companies 60,967 102,772 Other comprehensive income (39,449 ) (77,042 ) Dividends from non-consolidated companies (3,111 ) (8,837 ) At the end of the year 513,648 495,241 The principal investments in non-consolidated companies, all of which are unlisted, except for Usiminas, are: Voting rights at Value at Company Country of incorporation Main activity December 31, 2019 December 31, 2018 December 31, 2019 December 31, 2018 Usinas Siderurgicas de Minas Gerais S.A. - USIMINAS Brazil Manufacturing and selling of steel products 34.39 % 34.39 % 486,643 480,084 Techgen S.A. de C.V. Mexico Provision of electric power 48.00 % 48.00 % 21,573 10,291 Other non-consolidated companies (1) 5,432 4,866 513,648 495,241 (1) It includes the investment held in Finma S.A.I.F., Techinst S.A., Recrotek S.R.L. de C.V. and Gas Industrial de Monterrey S.A. de C.V.
Disclosure of interests in non-consolidated companies, summarized income statement	USIMINAS Summarized income statement (in million $) As of December 31, 2019 As of December 31, 2018 Net sales 3,790 3,766 Cost of sales (3,312 ) (3,154 ) Gross Profit 478 612 Selling, general and administrative expenses (181 ) (213 ) Other operating income (loss), net (100 ) (153 ) Operating income 197 246 Financial expenses, net (132 ) 15 Equity in earnings of associated companies 46 70 Profit (Loss) before income tax 110 331 Income tax benefit (16 ) (110 ) Net profit (loss) before non-controlling interest 94 221 Non-controlling interest in other subsidiaries (41 ) (28 ) Net profit (loss) for the year 53 193
USINAS SIDEÚRGICAS DE MINAS GERAIS S.A.
Disclosure of unconsolidated structured entities [line items]
Disclosure of interest in non-consolidated companies	The investment in Usiminas is based in the following calculation: Usiminas' shareholders' equity 3,484,115 Percentage of interest of the Company over shareholders' equity 20.42 % Interest of the Company over shareholders' equity 711,558 Purchase price allocation 73,264 Goodwill 257,879 Impairment (556,058 ) Total Investment in Usiminas 486,643 As of December 31, 2019 and 2018 , the value of the investment in Usiminas is comprised as follows: USIMINAS Value of investment As of December 31, 2019 As of December 31, 2018 At the beginning of the year 480,084 466,299 Share of results (1) 48,502 97,733 Other comprehensive income (38,896 ) (75,195 ) Dividends (3,047 ) (8,753 ) At the end of the year 486,643 480,084 (1) It includes the adjustment of the values associated to the purchase price allocation.
Disclosure of interests in non-consolidated companies, summarized balance sheet	USIMINAS Summarized balance sheet (in million $) As of December 31, 2019 As of December 31, 2018 Assets Non-current 4,336 4,697 Current 1,721 1,711 Other current investments 166 151 Cash and cash equivalents 311 286 Total Assets 6,534 6,845 Liabilities Non-current 718 544 Non-current borrowings 1,237 1,389 Current 687 740 Current borrowings 30 121 Total Liabilities 2,672 2,794 Non-controlling interest 378 369 Shareholders' equity 3,484 3,682

RECEIVABLES, NET - NON CURREN_2

RECEIVABLES, NET - NON CURRENT AND CURRENT (Tables)	12 Months Ended
	Dec. 31, 2019
Receivables, net [Abstract]
Schedule of non-current receivables	As of December 31, 2019 2018 Receivables with related parties (Notes 26 and 14 (b)) 126,948 151,388 Employee advances and loans 1,572 2,425 Advances to suppliers for the purchase of property, plant and equipment 50,079 74,741 Advances to suppliers for the purchase of property, plant and equipment with related parties (Note 26) 7,827 7,493 Other receivables (Note 3 (c) (iii)) 254,446 264,683 Tax credits 150,721 146,711 Others 972 2,006 Receivables, net – Non-current 592,565 649,447
Schedule of current receivables	As of December 31, 2019 2018 Value added tax 162,121 156,627 Tax credits 99,315 72,957 Employee advances and loans 3,667 4,701 Advances to suppliers 10,134 15,563 Advances to suppliers with related parties (Note 26) 16,126 2,854 Expenses paid in advance 9,781 15,862 Government tax refunds on exports 14,805 17,311 Receivables with related parties (Note 26) 3,696 9,536 Others 15,068 14,339 Receivables, net – Current 334,713 309,750

TRADE RECEIVABLES, NET - NON _2

TRADE RECEIVABLES, NET - NON CURRENT AND CURRENT (Tables)	12 Months Ended
	Dec. 31, 2019
Trade and other receivables [abstract]
Schedule of trade receivables	As of December 31, 2019 2018 Trade receivables 897 4,766 Trade receivables, net – Non-current 897 4,766 Current accounts 920,937 1,096,072 Trade receivables with related parties (Note 26) 41,696 46,744 Allowance for doubtful accounts (Note 19) (12,961 ) (14,346 ) Trade receivables, net - Current 949,672 1,128,470 Trade receivables, net as of December 31, 2019 Total Fully performing Past due Guaranteed 469,087 424,052 45,035 Not guaranteed 494,443 453,184 41,259 Trade receivables 963,530 877,236 86,294 Allowance for doubtful accounts (Note 19) (12,961 ) — (12,961 ) Trade receivables, net 950,569 877,236 73,333 Trade receivables, net as of December 31, 2018 Total Fully performing Past due Guaranteed 564,015 502,822 61,193 Not guaranteed 583,567 532,214 51,353 Trade receivables 1,147,582 1,035,036 112,546 Allowance for doubtful accounts (Note 19) (14,346 ) — (14,346 ) Trade receivables, net 1,133,236 1,035,036 98,200

INVENTORIES, NET (Tables)

INVENTORIES, NET (Tables)	12 Months Ended
	Dec. 31, 2019
Subclassifications of assets, liabilities and equities [abstract]
Schedule of Inventory	As of December 31, 2019 2018 Raw materials, materials and spare parts 731,901 850,182 Goods in process 975,553 1,187,071 Finished goods 396,401 464,154 Goods in transit 116,610 243,876 Obsolescence allowance (Note 19) (62,167 ) (55,454 ) Inventories, net 2,158,298 2,689,829

CASH, CASH EQUIVALENTS AND OT_2

CASH, CASH EQUIVALENTS AND OTHER INVESTMENTS - NON CURRENT AND CURRENT (Tables)	12 Months Ended
	Dec. 31, 2019
Cash, cash equivalents and other investments [Abstract]
Schedule of other investments	As of December 31, 2019 2018 Investments in companies under cost method 252 252 Investments in debt instruments 3,001 6,943 Other investments, net – Non-current 3,253 7,195
Schedule of cash and cash equivalents	As of December 31, 2019 2018 (i) Other investments Other deposits with maturity of more than three months 212,271 44,529 Other investments - Current 212,271 44,529 (ii) Cash and cash equivalents Cash and banks 115,575 87,863 Restricted cash 69 2,216 Short-term bank deposits 199,878 140,456 Other deposits with maturity of less than three months 204,443 20,006 Cash and cash equivalents 519,965 250,541

ALLOWANCES AND PROVISIONS - N_2

ALLOWANCES AND PROVISIONS - NON CURRENT AND CURRENT (Tables)	12 Months Ended
	Dec. 31, 2019
Provisions [abstract]
Schedule of provisions	Provisions and allowances - Non current Liabilities Liabilities Legal claims and other matters Asset retirement obligation Year ended December 31, 2019 Values at the beginning of the year 643,950 24,554 Translation differences (25,701 ) 1,077 Additions 2,689 925 Reversals (4,417 ) — Uses (3,170 ) — At December 31, 2019 613,351 26,556 Year ended December 31, 2018 Values at the beginning of the year 768,517 27,829 Effect of initial inflation adjustment (note 4 (cc)) 1,315 — Translation differences (113,571 ) 82 Additions 6,438 5,383 Reversals (14,097 ) (8,740 ) Uses (4,652 ) — At December 31, 2018 643,950 24,554 19. ALLOWANCES AND PROVISIONS – NON CURRENT AND CURRENT (continued) Provisions and allowances - Current Deducted from assets Liabilities Allowance for doubtful accounts Obsolescence allowance Asset retirement obligation Year ended December 31, 2019 Values at the beginning of the year 14,346 55,454 9,851 Translation differences (285 ) (458 ) 348 Additions 787 18,036 5,201 Reversals (1,080 ) (9,623 ) — Uses (807 ) (1,242 ) (6,898 ) At December 31, 2019 12,961 62,167 8,502 Year ended December 31, 2018 Values at the beginning of the year 16,543 36,197 2,659 Effect of initial inflation adjustment (note 4 (cc)) 202 6,530 — Translation differences (2,076 ) (2,384 ) (10 ) Additions 2,732 22,822 7,659 Reversals (1,103 ) (5,500 ) — Uses (1,952 ) (2,211 ) (457 ) At December 31, 2018 14,346 55,454 9,851

DEFERRED INCOME TAX (Tables)

DEFERRED INCOME TAX (Tables)	12 Months Ended
	Dec. 31, 2019
Deferred income tax [Abstract]
Schedule of changes in deferred income tax	Changes in deferred income tax are as follows: As of December 31, 2019 2018 At the beginning of the year (340,207 ) (392,265 ) Translation differences 25,166 (7,201 ) Effect of changes in tax law (Note 11) 16,979 — Effect of initial inflation adjustment — (182,773 ) Credits (Charges) directly to other comprehensive income 19,537 9,547 Deferred tax (charge) credit (Note 11) 38,785 232,485 At the end of the year (239,740 ) (340,207 )
Changes in deferred tax assets and liabilities	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, 2019 At the beginning of the year (522,455 ) (41,316 ) (15,926 ) (1,088 ) (580,785 ) Translation differences 27,077 2,604 316 — 29,997 Income statement credit (charge) 58,002 (24,748 ) (1,499 ) (101 ) 31,654 At the end of the year (437,376 ) (63,460 ) (17,109 ) (1,189 ) (519,134 ) Deferred tax assets Provisions Trade receivables Tax losses (1) Other Total at December 31, 2019 At the beginning of the year 72,947 11,265 33,382 122,984 240,578 Translation differences (572 ) (539 ) — (3,720 ) (4,831 ) Credits (Charges) directly to other comprehensive income — — — 19,537 19,537 Effect of changes in tax law — — — 16,979 16,979 Income statement credit (charge) (26,721 ) (526 ) 9,384 24,994 7,131 At the end of the year 45,654 10,200 42,766 180,774 279,394 (1) As of December 31, 2019 , the recognized deferred tax assets on tax losses amount to $ 42,766 and there are net unrecognized deferred tax assets of $ 0.4 billion and unrecognized tax losses amounting to $ 1.4 billion . These two last effects are connected to the acquisition of Ternium Brasil (see Note 3). Deferred tax liabilities PP&E Inventories Intangible assets Other Total at December 31, 2018 At the beginning of the year (539,839 ) (57,006 ) (18,692 ) (2,056 ) (617,593 ) Translation differences 9,726 527 497 (688 ) 10,062 Effect of initial inflation adjustment (161,044 ) (20,967 ) (762 ) — (182,773 ) Income statement credit (charge) 168,702 36,130 3,031 1,656 209,519 At the end of the year (522,455 ) (41,316 ) (15,926 ) (1,088 ) (580,785 ) Deferred tax assets Provisions Trade receivables Tax losses (2) Other Total at December 31, 2018 At the beginning of the year 61,101 8,200 43,355 112,672 225,328 Translation differences (6,036 ) (1,089 ) — (10,137 ) (17,263 ) Charges directly to other comprehensive income — — — 9,547 9,547 Income statement credit (charge) 17,882 4,154 (9,973 ) 10,903 22,966 At the end of the year 72,947 11,265 33,382 122,984 240,578 (2) As of December 31, 2018 , the recognized deferred tax assets on tax losses amount to $ 33,383 and there are net unrecognized deferred tax assets of $ 0.4 billion and unrecognized tax losses amounting to $ 1.3 billion . These two last effects are connected to the acquisition of Ternium Brasil (see note 3).
Schedule of deferred tax assets and liabilities	The amounts shown in the statement of financial position (prior to offsetting the balances within the same tax jurisdiction) include the following: As of December 31, 2019 2018 Deferred tax assets to be recovered after more than 12 months 203,607 153,681 Deferred tax assets to be recovered within 12 months 75,787 86,897 Deferred tax liabilities to be settled after more than 12 months (454,763 ) (538,854 ) Deferred tax liabilities to be settled within 12 months (64,371 ) (41,931 ) (239,740 ) (340,207 )

OTHER LIABILITIES - NON CURRE_2

OTHER LIABILITIES - NON CURRENT AND CURRENT (Tables)	12 Months Ended
	Dec. 31, 2019
Disclosure of other liabilities [Abstract]
Schedule of other non-current liabilities	As of December 31, 2019 2018 (i) Other liabilities - Non current Post-employment benefits 405,935 312,293 Other employee benefits 44,496 38,891 Asset retirement obligation (Note 19) (1) 26,556 24,554 Other 30,616 38,803 Other liabilities – Non-current 507,603 414,541 (1) The asset in connection with this liability is included in Property, plant and equipment.
Schedule of other liabilities recognized in statement of financial position	Changes in the liability recognized in the consolidated statement of financial position are as follows: Post-employment benefits As of December 31, 2019 2018 At the beginning of the year 312,293 275,950 Transfers, new participants and funding of the plan (6 ) (3,177 ) Total expense 39,086 29,862 Remeasurements 67,601 38,263 Effect of changes in demographic assumptions 674 22,575 Effect of changes in financial assumptions 55,059 2,272 Effect of experience adjustments 11,868 13,416 Translation differences 12,228 (283 ) Contributions paid (25,267 ) (28,322 ) At the end of the year 405,935 312,293 The amounts recognized in the consolidated statement of financial position are determined as follows: Post-employment benefits As of December 31, 2019 2018 Present value of unfunded obligations 405,935 312,293 Liability in the statement of financial position 405,935 312,293
Schedule of amounts recognized in income statement	The amounts recognized in the consolidated income statement are as follows: Post-employment benefits Year ended December 31, 2019 2018 Current service cost 11,776 7,284 Interest cost 27,310 22,578 Total included in labor costs 39,086 29,862
Schedule of principal actuarial assumptions	The principal actuarial assumptions used were as follows: Year ended December 31, Mexico 2019 2018 Discount rate 7.25% 8.75% Compensation growth rate 6.00% - 7.00% 6.00% - 7.00% Year ended December 31, Argentina 2019 2018 Discount rate 6.00% - 7.00% 6.00% - 7.00% Compensation growth rate 2.00% - 3.00% 2.00% - 3.00%
Schedule of sensitivity of the defined benefit obligation to changes in the weighted principal assumptions	The sensitivity of the defined benefit obligation to changes in the weighted principal assumptions is as follows: Impact on defined benefit obligation Change in assumption Increase in assumption Decrease in assumption Discount rate 1.00 % -9.4 % 11.7 % Compensation growth rate 1.00 % 1.8 % -4.3 % Pension growth rate 1.00 % -1.3 % 1.6 % Life expectancy 1 year -1.7 % 1.7 %
Schedule of other current liabilities	As of December 31, 2019 2018 (ii) Other liabilities - Current Payroll and social security payable 107,999 177,407 VAT liabilities 58,799 79,060 Other tax liabilities 38,153 36,203 Termination benefits 493 1,501 Related Parties (Note 26) 2,074 3,341 Asset retirement obligation (Note 19) 8,502 9,851 Others 24,914 43,853 Other liabilities – Current 240,934 351,216

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2019
Disclosure of detailed information about financial instruments [abstract]
Disclosure of detailed information about hedging instruments	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, 2017 810 (129 ) 681 (Decrease) / Increase (14 ) (108 ) (122 ) Reclassification to income statement (117 ) 35 (82 ) At December 31, 2018 679 (202 ) 477 (Decrease) / Increase (475 ) 142 (333 ) Reclassification to income statement (276 ) 83 (193 ) At December 31, 2019 (72 ) 23 (49 ) The net fair values of derivative financial instruments at December 31, 2019 and 2018 were as follows: As of December 31, 2019 2018 Contracts with positive fair value Interest rate swap contracts — 818 Foreign exchange contracts 1,196 770 1,196 1,588 Contracts with negative fair value Interest rate swap contracts (17 ) — Foreign exchange contracts (3,007 ) (12,981 ) (3,024 ) (12,981 ) The net fair values of the exchange rate derivative contracts as of December 31, 2019 and December 31, 2018 were as follows: Fair value at December 31, Currencies Contract Notional amount 2019 2018 EUR/$ ND Forward - Buy EUR 140.8 million EUR 1,196 (12,954 ) COP/$ ND Forward - Sell COP 241.9 billion COP (3,007 ) 109 BRL/$ ND Forward - Buy BRL 34.5 million BRL — (493 ) EUR/$ ND Forward - Sell EUR 1.9 million EUR — (27 ) BRL/$ ND Forward - Sell BRL 32.0 million BRL — 1,154 (1,811 ) (12,211 ) COP: Colombian pesos; EUR: E.U. euros; $: U.S. dollars; BRL: Brazilian reais.

LEASE LIABILITIES (Tables)

LEASE LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2019
Disclosure of leases [Abstract]
Disclosure of quantitative information about leases for lessee	Lease liabilities Current Non Current Total Values at the beginning of the year 8,030 65,798 73,828 Effect of initial recognition under IFRS 16 34,848 245,645 280,493 Translation differences 2,659 (7,139 ) (4,480 ) Net proceeds 1,474 24,545 26,019 Repayments (38,569 ) — (38,569 ) Interest accrued 16,755 — 16,755 Interest paid (15,281 ) — (15,281 ) Reclassifications 30,630 (30,630 ) — As of December 31, 2019 40,546 298,219 338,765
Disclosure of maturity analysis of lease payments	As of December 31, 2019 As of December 31, 2018 Commitments in relation to finance leases are payable as follows: Within one year 55,670 8,328 Later than one year but not later than five years 197,956 33,312 Later than five years 204,101 71,482 Minimum lease payments 457,727 113,122 Future finance charges (118,962 ) (39,294 ) Total Financial lease liabilities 338,765 73,828 The present value of finance lease liabilities is as follows: Within one year 40,546 8,030 Later than one year but not later than five years 149,830 27,208 Later than five years 148,389 38,590 Total minimum lease payments 338,765 73,828

BORROWINGS (Tables)

BORROWINGS (Tables)	12 Months Ended
	Dec. 31, 2019
Borrowings [abstract]
Disclosure of detailed information about borrowings	Ternium’s most significant borrowings as of December 31, 2019 , were those incurred under Ternium México’s syndicated loan facilities, in order to finance the construction of its hot rolling mill, hot-dip galvanizing and painting lines in Pesqueria, under Tenigal’s syndicated loan facility, in order to finance the construction of its hot-dipped galvanizing mill in Pesquería, Mexico, under Ternium Investments S.à r.l., in order to finance the acquisition of Ternium Brasil, and under Ternium Brasil's syndicated loan facility, in order to finance solely activities related to its exports of goods: In $ million Date Borrower Type Original principal amount Outstanding principal amount as of December 31, 2019 Maturity Years 2012 and 2013 Tenigal Syndicated loan 200 75 July 2022 September 2017 Ternium Investments S.à r.l. Syndicated loan 1,500 400 September 2022 June 2018 Ternium Mexico Syndicated loan 1,000 875 June 2023 August 2019 Ternium Brasil Syndicated loan 1,000 400 August 2024 The weighted average interest rates - which incorporate instruments denominated mainly in U.S. dollars and which do not include the effect of derivative financial instruments nor the devaluation of these local currencies - at year-end were as follows: As of December 31, 2019 2018 Bank borrowings 2.94 % 3.65 % As of December 31, 2019 2018 (i) Non-current Bank borrowings 1,639,604 1,648,124 Less: debt issue costs (10,712 ) (11,023 ) 1,628,892 1,637,101 (ii) Current Bank borrowings 564,497 404,390 Less: debt issue costs (4,715 ) (4,534 ) 559,782 399,856 Total Borrowings 2,188,674 2,036,957 Breakdown of borrowings by currency is as follows: As of December 31, Currencies Contract 2019 2018 USD Floating 1,977,617 1,747,074 USD Fixed 148,712 262,873 ARS Floating 10 — MXN Floating 14,789 — COP Floating 30,634 — COP Fixed 16,912 17,009 GTQ Fixed — 10,001 2,188,674 2,036,957 USD: U.S. dollars; ARS: Argentine pesos; COP: Colombian pesos; GTQ: Guatemalan quetzales; MXN: Mexican pesos.
Disclosure of maturities of borrowings	The maturity of borrowings is as follows: Expected Maturity Date 2022 and At December 31, (1) 2020 2021 thereafter 2019 2018 Fixed Rate 165,623 — — 165,623 289,883 Floating Rate 394,159 308,847 1,320,045 2,023,051 1,747,074 Total 559,782 308,847 1,320,045 2,188,674 2,036,957 (1) As most borrowings incorporate floating rates that approximate market rates and the contractual repricing occurs mostly every 1 month, the fair value of the borrowings approximates their carrying amount and it is not disclosed separately. Fixed rate borrowings are uncommitted short-term revolving loans and their fair value approximates to their carrying amount.

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2019
Disclosure of related party [Abstract]
Disclosure of transactions between related parties	The following transactions were carried out with related parties: Year ended December 31, 2019 2018 2017 (i) Transactions (a) Sales of goods and services Sales of goods to non-consolidated parties 515,123 774,526 453,551 Sales of goods to other related parties 77,375 141,230 164,694 Sales of services and others to non-consolidated parties 171 176 177 Sales of services and others to other related parties 1,060 1,286 660 593,729 917,218 619,082 (b) Purchases of goods and services Purchases of goods from non-consolidated parties 408,309 483,182 404,891 Purchases of goods from other related parties 71,324 50,928 57,941 Purchases of services and others from non-consolidated parties 14,563 10,266 13,126 Purchases of services and others from other related parties 155,289 90,536 111,439 Purchases of goods and services in connection with lease contracts from other related parties 8,859 — — 658,343 634,912 587,397 (c) Financial results Income with non-consolidated parties 9,478 9,330 7,611 Expenses in connection with lease contracts from other related parties (945 ) — — 8,533 9,330 7,611 (d) Dividends received Dividends from non-consolidated parties 3,111 8,837 3,360 3,111 8,837 3,360 (e) Other income and expenses Income (expenses), net with non-consolidated parties 929 1,012 2,723 Income (expenses), net with other related parties 986 492 247 1,915 1,504 2,970 As of December 31, 2019 2018 (ii) Year-end balances (a) Arising from sales/purchases of goods/services and other transactions Receivables from non-consolidated parties 167,312 201,693 Receivables from other related parties 5,027 5,975 Advances from non-consolidated parties 8,017 2,812 Advances to suppliers with other related parties 15,936 7,534 Payables to non-consolidated parties (44,784 ) (37,384 ) Payables to other related parties (41,849 ) (23,495 ) Lease liabilities with other related parties (7,310 ) — 102,349 157,135

OTHER REQUIRED DISCLOSURES (Tab

OTHER REQUIRED DISCLOSURES (Tables)	12 Months Ended
	Dec. 31, 2019
Disclosure of additional information [Abstract]
Schedule of condensed statement of comprehensive income	Statement of comprehensive income Cash flow hedges Currency translation Gross amount Income tax Total adjustment At December 31, 2017 810 (129 ) 681 (3,257,038 ) (Decrease) / Increase (14 ) (108 ) (122 ) (449,981 ) Reclassification to income statement (117 ) 35 (82 ) — At December 31, 2018 679 (202 ) 477 (3,707,019 ) (Decrease) / Increase (475 ) 142 (333 ) (61,925 ) Reclassification to income statement (276 ) 83 (193 ) — At December 31, 2019 (72 ) 23 (49 ) (3,768,944 )
Schedule of condensed statement of cash flows	Statement of cash flows Year ended December 31, 2019 2018 2017 (i) Changes in working capital (1) Inventories 510,972 (186,409 ) (540,162 ) Receivables and others 6,175 8,652 (108,257 ) Trade receivables 161,454 (123,388 ) (303,114 ) Other liabilities (95,131 ) 17,138 40,230 Trade payables (10,786 ) 55,430 46,333 572,684 (228,577 ) (864,970 ) (ii) Income tax accrual less payments Tax accrued (Note 11) 196,519 369,435 336,882 Taxes paid (405,324 ) (523,801 ) (610,325 ) (208,805 ) (154,366 ) (273,443 ) (iii) Interest accruals less payments Interest accrued (Note 10 and 23) 104,855 131,172 114,583 Interest paid (101,450 ) (144,186 ) (95,099 ) 3,405 (13,014 ) 19,484 (1) Changes in working capital are shown net of the effect of exchange rate changes.
Schedule of reconciliation of changes in financial debt	Financial debt reconciliation Financial debt Finance lease liabilities Short term borrowings Long term borrowings Total As of December 31, 2017 (77,035 ) (1,505,570 ) (1,716,337 ) (3,298,942 ) Cash flows 7,565 1,492,568 (401,725 ) 1,098,408 Reclassifications — (459,520 ) 459,520 — Foreign exchange adjustments (47,390 ) (121,801 ) — (169,191 ) Other non cash movements 43,032 194,467 21,441 258,940 As of December 31, 2018 (73,828 ) (399,856 ) (1,637,101 ) (2,110,785 ) Cash flows 53,850 231,967 (297,780 ) (11,963 ) Reclassifications — (306,262 ) 306,262 — Effect of initial recognition under IFRS 16 (280,493 ) — — (280,493 ) Acquisitions - finance leases (26,019 ) — — (26,019 ) Foreign exchange adjustments (8,834 ) (79,365 ) — (88,199 ) Other non cash movements (3,441 ) (6,266 ) (273 ) (9,980 ) As of December 31, 2019 (338,765 ) (559,782 ) (1,628,892 ) (2,527,439 )

RECENTLY ISSUED ACCOUNTING PR_2

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS (Tables)	12 Months Ended
	Dec. 31, 2019
Disclosure of significant accounting policies [Abstract]
Disclosure of initial application of standards or interpretations	Property, plant and equipment Lease liabilities Lease liabilities Closing balance as of December 31, 2018 - IFRS 16 5,817,609 8,030 65,798 Initial recognition of right-of-use assets 280,493 — — Initial recognition of lease liabilities — 34,848 245,645 Opening balance as of January 1, 2019 - IFRS 16 6,098,102 42,878 311,443 (*) Lease liabilities in the Consolidated Financial Statements as of December 31, 2018.

FINANCIAL RISK MANAGEMENT (Tabl

FINANCIAL RISK MANAGEMENT (Tables)	12 Months Ended
	Dec. 31, 2019
Disclosure of notes and other explanatory information [Abstract]
Sensitivity analysis for types of market risk	The following table shows a breakdown of Ternium’s assessed financial position exposure to currency risk as of December 31, 2019 . These balances include intercompany positions where the intervening parties have different functional currencies. Functional currency $ million Exposure to $ ARS U.S. dollar ($) — (56 ) EU euro (EUR) (85 ) (3 ) Argentine peso (ARS) (7 ) — Mexican peso (MXN) (561 ) — Brazilian real (BRL) (184 ) (2 ) Colombian peso (COP) (25 ) — Other currencies (4 ) —
Disclosure of credit risk exposure	The carrying amounts of the Company’s trade and other receivables as of December 31, 2019 , are denominated in the following currencies: Currency $ million U.S. dollar ($) 965 EU euro (EUR) 36 Argentine peso (ARS) 14 Mexican peso (MXN) 150 Brazilian real (BRL) 387 Colombian peso (COP) 69 Other currencies 2 1,623
Disclosure of how the entity manages liquidity risk	The table below analyses financial liabilities into relevant maturity groups based on the remaining period at the date of the statement of financial position to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows. $ million 2020 2021 2022 2023 Thereafter Borrowings 560 309 660 137 523 Interests to be accrued (1) 60 49 33 19 7 Trade payables and other liabilities 867 9 9 5 30 Lease liabilities 41 42 41 40 175 Total 1,528 409 743 201 735 (1) These amounts do not include the effect of derivative financial instruments.
Disclosure of financial assets	As of December 31, 2019 (in $ thousands) Amortized cost Assets at fair value through profit or loss Assets at fair value through OCI Total (i) Assets as per statement of financial position Receivables 406,370 — — 406,370 Derivative financial instruments — 1,196 — 1,196 Trade receivables 950,569 — — 950,569 Other investments 176,470 — 38,803 215,273 Cash and cash equivalents 320,088 199,877 — 519,965 Total 1,853,497 201,073 38,803 2,093,373 As of December 31, 2018 (in $ thousands) Amortized cost Assets at fair value through profit or loss Assets at fair value through OCI Total (i) Assets as per statement of financial position Receivables 449,077 — — 449,077 Derivative financial instruments — 1,588 — 1,588 Trade receivables 1,133,236 — — 1,133,236 Other investments 14,843 — 36,630 51,473 Cash and cash equivalents 110,086 140,455 — 250,541 Total 1,707,242 142,043 36,630 1,885,915
Disclosure of financial liabilities	As of December 31, 2018 (in $ thousands) Liabilities at fair value through profit or loss Amortized cost Total (ii) Liabilities as per statement of financial position Other liabilities — 105,659 105,659 Trade payables — 864,827 864,827 Derivative financial instruments 12,981 — 12,981 Finance lease liabilities — 73,828 73,828 Borrowings — 2,036,957 2,036,957 Total 12,981 3,081,271 3,094,252 As of December 31, 2019 (in $ thousands) Liabilities at fair value through profit or loss Amortized cost Total (ii) Liabilities as per statement of financial position Other liabilities — 88,403 88,403 Trade payables — 836,204 836,204 Derivative financial instruments 3,024 — 3,024 Finance lease liabilities — 338,765 338,765 Borrowings — 2,188,674 2,188,674 Total 3,024 3,452,046 3,455,070
Disclosure of financial instruments at fair value through profit or loss	The following table presents the assets and liabilities that are measured at fair value as of December 31, 2019 and 2018 : Fair value measurements as of December 31, 2019 (in $ thousands): Description Total Level 1 Level 2 Financial assets at fair value through profit or loss / OCI Cash and cash equivalents 199,877 199,877 — Other investments 38,803 38,803 — Derivative financial instruments 1,196 — 1,196 Total assets 239,876 238,680 1,196 Financial liabilities at fair value through profit or loss / OCI Derivative financial instruments 3,024 — 3,024 Total liabilities 3,024 — 3,024 Fair value measurements as of December 31, 2018 (in $ thousands): Description Total Level 1 Level 2 Financial assets at fair value through profit or loss / OCI Cash and cash equivalents 140,455 140,455 — Other investments 36,630 36,630 — Derivative financial instruments 1,588 — 1,588 Total assets 178,673 177,085 1,588 Financial liabilities at fair value through profit or loss / OCI Derivative financial instruments 12,981 — 12,981 Total liabilities 12,981 — 12,981

GENERAL INFORMATION - Narrative

GENERAL INFORMATION - Narrative (Details) - USD ($) $ / shares in Units, $ in Billions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 06, 2010
Disclosure of general information about financial statements [Abstract]
Number of shares authorised (in shares)	3,500,000,000	3,500,000,000	3,500,000,000
Par value per share (in dollars per share)	$ 1	$ 1	$ 1
Number of shares issued (in shares)	2,004,743,442	2,004,743,442	2,004,743,442
Difference between historical carrying amounts of assets and value at which assets were contributed				$ 4
Tax reserve	$ 6.3	$ 6.6

BASIS OF PRESENTATION (Disclosu

BASIS OF PRESENTATION (Disclosure of interest in subsidiaries) (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Ternium S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%	100.00%
Ternium Investments S.à.r.l.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%	100.00%
Ternium Participacoes S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%	100.00%
Ternium Internacional España S.L.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%	100.00%
Ternium International Switzerland S.A
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%	100.00%
Ternium USA Inc.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%	100.00%
Ternium Argentina S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	61.50%	60.94%	60.94%
Impeco S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	61.54%	60.97%	60.97%
Prosid Investments S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	61.51%	60.94%	60.94%
Ternium Mexico S.A. de C.V.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	88.94%	88.78%	88.78%
Hylsa S.A. de C.V.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	88.94%	88.78%	88.78%
Las Encinas S.A. de C.V.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	88.94%	88.78%	88.78%
Ferropak Comercial S.A. de C.V.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	88.94%	88.78%	88.78%
Transamerica E. & I. Trading Corp.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	88.94%	88.78%	88.78%
Técnica Industrial S.A. de C.V.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	88.94%	88.78%	88.78%
Galvacer Chile SA
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	88.94%	88.78%	88.78%
Ternium Gas México S.A. de C.V.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	88.94%	88.78%	88.78%
Consorcio Minero Benito Juarez Peña Colorada
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	44.47%	44.39%	44.39%
Peña Colorada Servicios S.A. de C.V.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	44.47%	44.39%	44.39%
Exiros B.V.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	50.00%	50.00%	50.00%
Servicios Integrales Nova de Monterrey S.A. de C.V.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	66.26%	66.14%	66.14%
Ternium Internacional Nicaragua S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	99.38%	99.38%	99.38%
Ternium Internacional Honduras S.A. de C.V.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	99.18%	99.18%	99.18%
Ternium Internacional El Salvador S.A. de C.V.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	99.92%	99.92%	99.92%
Ternium Internacional Costa Rica S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	99.98%	99.98%	99.98%
Ternium Internacional Guatemala S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	99.98%	99.98%	99.98%
Ternium Colombia S.A.S (formerly Ferrasa S.A.S)
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%	100.00%
Ternium del Cauca S.A.S. (formerly Perfilamos del Cauca S.A.S.)
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%	100.00%
Ternium Siderúrgica de Caldas S.A.S. (formerly Siderúrgica de Caldas S.A.S.)
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%	100.00%
Tenigal S. de R.L. de C.V.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	51.00%	51.00%	51.00%
Ternium Internacional S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%	100.00%
Ternium Treasury Services S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%	100.00%
Ternium Internationaal B.V.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%	100.00%
Ternium International Inc.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%	100.00%
Ternium Procurement S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%	100.00%
Technology & Engineering Services S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%	100.00%
Soluciones Integrales de Gestion S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%	100.00%
Ternium Staal B.V.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%	100.00%
Ternium Brasil Ltda.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%	100.00%
Ternium del Atlantico S.A.S
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%	100.00%
Ternium Solutions S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Imsamex Ecuador, S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary		88.78%	88.78%
Ternium Solutions A.G.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary		100.00%	100.00%
Ternium Ingeniería y Servicios de Mexico S.A. de C.V.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary		99.89%	99.89%
Ternium International USA Corporation
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary		100.00%	100.00%
Acedor, S.A. de C.V.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary			88.78%
Ecosteel Gestao de Aguas Industriais S.A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary			100.00%
Ecosteel Gestao de Efuentes Industriais S,A.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary			100.00%
Galvatubing Inc
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary			88.78%
Galvamet America Corp
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary			88.78%
Ternium Internacional de Colombia S.A.S.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary			100.00%
Ternium Investments S.à.r.l. | Ternium Solutions S.A.
Disclosure of subsidiaries [line items]
Proportion of voting rights held in subsidiary	100.00%
Ternium Investments S.à.r.l. | Ternium Participacoes S.A., Ternium Investments Switzerland AG, Ternium Internacional Espana S.L. & Ternium USA Inc.
Disclosure of subsidiaries [line items]
Proportion of voting rights held in subsidiary	100.00%
Ternium Investments S.à.r.l. | Ternium Internationaal B.V. & Ternium International Inc.
Disclosure of subsidiaries [line items]
Proportion of voting rights held in subsidiary	100.00%
Ternium Investments S.à.r.l. | Ternium Staal B.V. & Ternium Brasil Ltda.
Disclosure of subsidiaries [line items]
Proportion of voting rights held in subsidiary	100.00%
Ternium Internacional España S.L. | Ternium Argentina S.A.
Disclosure of subsidiaries [line items]
Proportion of voting rights held in subsidiary	61.50%	60.94%
Ternium Internacional España S.L. | Tenigal S. de R.L. de C.V.
Disclosure of subsidiaries [line items]
Proportion of voting rights held in subsidiary	51.00%
Ternium Internacional España S.L. | Ternium del Atlantico S.A.S
Disclosure of subsidiaries [line items]
Proportion of voting rights held in subsidiary	100.00%
Ternium Internacional España S.L. | Ternium Internacional Guatemala S.A., Ternium Colombia S.A.S., Ternium del Cauca S.A.S. & Ternium Siderurgica de Caldas S.A.S.
Disclosure of subsidiaries [line items]
Proportion of voting rights held in subsidiary	100.00%
Ternium Internacional España S.L. | Ternium Procurement S.A. & Technology & Engineering Services S.A.
Disclosure of subsidiaries [line items]
Proportion of voting rights held in subsidiary	100.00%
Ternium Argentina S.A. and Soluciones Integrales de Gestion S.A | Impeco S.A.
Disclosure of subsidiaries [line items]
Proportion of voting rights held in subsidiary	100.00%
Ternium Argentina S.A. and Ternium Procurement S.A. | Prosid Investments S.A.
Disclosure of subsidiaries [line items]
Proportion of voting rights held in subsidiary	100.00%
Ternium Argentina S.A. and Ternium Internacional Espana S.L.U. | Ternium Mexico S.A. de C.V.
Disclosure of subsidiaries [line items]
Proportion of voting rights held in subsidiary	100.00%
Ternium Mexico S.A. de C.V. | Servicios Integrales Nova de Monterrey S.A. de C.V.
Disclosure of subsidiaries [line items]
Proportion of voting rights held in subsidiary	74.50%
Ternium Mexico S.A. de C.V. | Las Encinas S.A. de C.V., Ferropak Comercial S.A. de C.V., Transamerica E. & I. Trading Corp., Tecnica Industrial S.A. de C.V., Galvacer Chile SA & Imsamex Ecuador, S.A.
Disclosure of subsidiaries [line items]
Proportion of voting rights held in subsidiary	100.00%
Ternium Mexico S.A. de C.V and Tenigal S. de R.L. de C.V. | Ternium Gas México S.A. de C.V.
Disclosure of subsidiaries [line items]
Proportion of voting rights held in subsidiary	100.00%
Ternium S.A. | Consorcio Minero Benito Juarez Pena Colorada, Pena Colorada Servicios S.A. de C.V. & Exiros B.V
Disclosure of subsidiaries [line items]
Proportion of voting rights held in subsidiary	50.00%
Ternium Investments S.a.r.l & Ternium Internacional Espana S.L. | Soluciones Integrales de Gestion S.A.
Disclosure of subsidiaries [line items]
Proportion of voting rights held in subsidiary	100.00%

BASIS OF PRESENTATION (Narrativ

BASIS OF PRESENTATION (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2018	Dec. 31, 2016
Disclosure of subsidiaries [line items]
Net sales	$ 10,192,818	$ 11,454,807	$ 9,700,296
Assets	12,935,533	12,547,862
Liabilities	5,220,660	5,063,286
Equity	7,714,873	7,484,576	$ 5,852,771	$ 6,543,604	$ 5,166,593
Ternium Argentina S.A.
Disclosure of subsidiaries [line items]
Net sales	1,789,000	1,959,000
Profit (loss) from continuing operations attributable to non-controlling interests	131,000	254,000
Assets	2,969,000	3,184,000
Liabilities	338,000	606,000
Equity	$ 2,631,000	$ 2,578,000

ACQUISITION OF BUSINESS - Thyss

ACQUISITION OF BUSINESS - Thyssenkrupp Slab International B.V. & CSA Siderrgica do Atlantico Ltda. (Narrative) (Details) t in Millions	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Sep. 07, 2017USD ($)installmentt	Dec. 31, 2019USD ($)MWt	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Disclosure of detailed information about business combination [line items]
Asset recognised for expected reimbursement, contingent liabilities in business combination	$ 254,446,000	$ 264,683,000		$ 254,446,000	$ 264,683,000
Prepayments of principal				1,377,605,000	2,266,560,000	$ 1,205,827,000
Total borrowings	2,188,674,000	2,036,957,000		$ 2,188,674,000	2,036,957,000
Thyssenkrupp Slab International B.V. & CSA Siderúrgica do Atlântico Ltda.
Disclosure of detailed information about business combination [line items]
Percentage of voting equity interests acquired			100.00%
Annual production capacity of steel (tons) | t				5
Number of megawatts (per year) | MW				490
Slabs supplied (tons per year) | t			2
Consideration transferred, acquisition-date fair value			$ 1,891,000,000
Financial instruments designated as hedging instruments, at fair value			75,900,000
Tax benefit recognised as of acquisition date			1,089,000,000
Acquisitions through business combinations, other provisions	508,900,000	529,400,000	651,800,000
Asset recognised for expected reimbursement, contingent liabilities in business combination	254,400,000	264,700,000	325,900,000	$ 254,400,000	264,700,000
Estimated financial effect, contingent liabilities in business combination	1,948,000,000		1,630,000,000	1,948,000,000
Other environment related provision | Thyssenkrupp Slab International B.V. & CSA Siderúrgica do Atlântico Ltda.
Disclosure of detailed information about business combination [line items]
Other provisions	14,100,000	19,700,000	24,500,000	14,100,000	19,700,000
Legal proceedings contingent liability | Thyssenkrupp Slab International B.V. & CSA Siderúrgica do Atlântico Ltda.
Disclosure of detailed information about business combination [line items]
Other provisions	45,000,000	$ 46,900,000	$ 57,700,000	45,000,000	46,900,000
Syndicated Facility | Thyssenkrupp Slab International B.V. & CSA Siderúrgica do Atlântico Ltda.
Disclosure of detailed information about business combination [line items]
Debt instrument, term			5 years
Notional amount			$ 1,500,000,000
Number of installments | installment			8
Prepayments of principal				725,000,000	$ 375,000,000
Total borrowings	$ 400,000,000			$ 400,000,000

ACQUISITION OF BUSINESS - Preli

ACQUISITION OF BUSINESS - Preliminary allocation of the fair value determined for the assets and liabilities arising from the acquisition (Details) - Thyssenkrupp Slab International B.V. & CSA Siderúrgica do Atlântico Ltda. $ in Thousands	Sep. 07, 2017USD ($)
Disclosure of detailed information about business combination [line items]
Property, plant and equipment and Intangible assets	$ 1,573,946
Inventories	400,047
Cash and cash equivalents	278,162
Trade receivables	63,710
Other receivables	705,058
Deferred tax assets	13,686
Provisions	(799,938)
Trade payables	(219,604)
Other assets and liabilities, net	(124,078)
Net assets acquired	$ 1,890,989

ACCOUNTING POLICIES (Financial

ACCOUNTING POLICIES (Financial instruments) (Details) $ in Millions	Dec. 31, 2017USD ($)
Disclosure of significant accounting policies [Abstract]
Held-to-maturity investments	$ 6.1

ACCOUNTING POLICIES (Useful lif

ACCOUNTING POLICIES (Useful life of property, plant & equipment) (Details)	12 Months Ended
	Dec. 31, 2019
Buildings and improvements | Bottom of range
Disclosure of detailed information about property, plant and equipment [line items]
Useful life, property, plant and equipment	10 years
Buildings and improvements | Top of range
Disclosure of detailed information about property, plant and equipment [line items]
Useful life, property, plant and equipment	50 years
Production equipment and machinery | Bottom of range
Disclosure of detailed information about property, plant and equipment [line items]
Useful life, property, plant and equipment	5 years
Production equipment and machinery | Top of range
Disclosure of detailed information about property, plant and equipment [line items]
Useful life, property, plant and equipment	40 years
Vehicles, furniture and fixtures | Bottom of range
Disclosure of detailed information about property, plant and equipment [line items]
Useful life, property, plant and equipment	3 years
Vehicles, furniture and fixtures | Top of range
Disclosure of detailed information about property, plant and equipment [line items]
Useful life, property, plant and equipment	20 years
Buildings and facilities | Bottom of range
Disclosure of detailed information about property, plant and equipment [line items]
Useful life, right-of-use assets	2 years
Buildings and facilities | Top of range
Disclosure of detailed information about property, plant and equipment [line items]
Useful life, right-of-use assets	20 years
Production equipment and machinery | Bottom of range
Disclosure of detailed information about property, plant and equipment [line items]
Useful life, right-of-use assets	2 years
Production equipment and machinery | Top of range
Disclosure of detailed information about property, plant and equipment [line items]
Useful life, right-of-use assets	17 years

ACCOUNTING POLICIES (Intangible

ACCOUNTING POLICIES (Intangible assets) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of detailed information about intangible assets [line items]
Mining concession, period	50 years
Mining concession, additional term	50 years
Research and development expense	$ 10	$ 8.9	$ 9.8
Information system projects
Disclosure of detailed information about intangible assets [line items]
Amortisation period (not exceeding)	3 years
Customer relationships and other contractual rights
Disclosure of detailed information about intangible assets [line items]
Useful lives or amortisation rates, intangible assets other than goodwill	10 years
Cash-generating units
Disclosure of detailed information about intangible assets [line items]
Goodwill	$ 662.3	662.3
Steel | Cash-generating units
Disclosure of detailed information about intangible assets [line items]
Goodwill	$ 619.8	$ 619.8
Mining
Disclosure of detailed information about intangible assets [line items]
Amortisation rates, intangible assets other than goodwill	5.00%	8.00%	7.00%
Mining | Cash-generating units
Disclosure of detailed information about intangible assets [line items]
Goodwill	$ 42.5	$ 42.5
Bottom of range | Trademarks
Disclosure of detailed information about intangible assets [line items]
Useful lives or amortisation rates, intangible assets other than goodwill	5 years
Top of range | Trademarks
Disclosure of detailed information about intangible assets [line items]
Useful lives or amortisation rates, intangible assets other than goodwill	10 years

ACCOUNTING POLICIES (Impairment

ACCOUNTING POLICIES (Impairment) (Details)	Dec. 31, 2019	Dec. 31, 2018
Disclosure of impairment loss and reversal of impairment loss [line items]
Discount rate used in current estimate of value in use	9.80%
Cash-generating units
Disclosure of impairment loss and reversal of impairment loss [line items]
Discount rate used in current estimate of value in use	9.80%	11.68%
Argentina | Subsidiaries
Disclosure of impairment loss and reversal of impairment loss [line items]
Discount rate used in current estimate of value in use	14.30%

ACCOUNTING POLICIES (Non-curren

ACCOUNTING POLICIES (Non-current assets (disposal groups) classified as held for sale) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of significant accounting policies [Abstract]
Non-current assets or disposal groups classified as held for sale	$ 2.1	$ 2.1

ACCOUNTING POLICIES (Employee l

ACCOUNTING POLICIES (Employee liabilities) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure of terms and conditions of share-based payment arrangement [line items]
Deferred compensation share-based arrangements, liability	$ 36.2	$ 43
Stock granted, value	$ 36	$ 42.2
Incentive Retention Program | Capital Units
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting period (years)	4 years
Redemption, period (years)	10 years
Early redemption, period (years)	7 years

ACCOUNTING POLICIES (Borrowing

ACCOUNTING POLICIES (Borrowing Costs) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2019	Dec. 31, 2018
Disclosure of significant accounting policies [Abstract]
Borrowing costs capitalised	$ 16,100	$ 7,400	$ 500	$ 16,085	$ 7,368

ACCOUTNING POLICIES (Derivative

ACCOUTNING POLICIES (Derivative financial instruments and hedging activities) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash flow hedges
Derivative instruments, gain (loss) [Line Items]
Effective portion of hedge	$ (0.1)	$ 0.5

ACCOUNTING POLICIES (Critical a

ACCOUNTING POLICIES (Critical accounting estimates) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure of changes in accounting estimates [line items]
Discount rate used to test investment for impairment	9.80%
Inventory write-down	$ 62.2	$ 55.5
Legal claims and other matters
Disclosure of changes in accounting estimates [line items]
Provisions	$ 613.4	$ 643.9

SEGMENT INFORMATION (Narrative)

SEGMENT INFORMATION (Narrative) (Details)	12 Months Ended
	Dec. 31, 2019segment
Disclosure of operating segments [line items]
Number of reportable segments	2
Las Encinas
Disclosure of operating segments [line items]
Percentage of equity interest	100.00%
Peña Colorada
Disclosure of operating segments [line items]
Proportion of ownership interest in subsidiary	50.00%
Steel
Disclosure of operating segments [line items]
Number of operating segments	4

SEGMENT INFORMATION (Segment re

SEGMENT INFORMATION (Segment reporting information, by segment) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of operating segments [line items]
Net sales	$ 10,192,818	$ 11,454,807	$ 9,700,296
Cost of sales	(8,452,440)	(8,483,328)	(7,403,025)
Gross profit	1,740,378	2,971,479	2,297,271
Selling, general and administrative expenses	(897,475)	(876,764)	(824,247)
Other operating income (expenses), net	21,663	13,656	(16,240)
Profit (loss) from operating activities	864,566	2,108,371	1,456,784
Other financial income (expenses), net	(39,756)	(69,640)	(69,915)
Equity in earnings of non-consolidated companies	60,967	102,772	68,115
Profit before income tax expense	826,564	2,031,567	1,359,809
Inter- segment eliminations
Disclosure of operating segments [line items]
Net sales	(357,411)	(280,613)	(271,441)
Cost of sales	359,588	281,455	275,586
Gross profit	2,177	842	4,145
Selling, general and administrative expenses	0	0	0
Other operating income (expenses), net	0	0	0
Profit (loss) from operating activities	2,177	842	4,145
Steel | Operating segments
Disclosure of operating segments [line items]
Net sales	10,186,171	11,453,420	9,700,260
Cost of sales	(8,552,493)	(8,524,890)	(7,465,751)
Gross profit	1,633,679	2,928,530	2,234,509
Selling, general and administrative expenses	(885,146)	(860,881)	(811,487)
Other operating income (expenses), net	21,931	12,950	(17,011)
Profit (loss) from operating activities	770,466	2,080,599	1,406,011
Mining | Operating segments
Disclosure of operating segments [line items]
Net sales	364,058	282,000	271,477
Cost of sales	(259,535)	(239,893)	(212,860)
Gross profit	104,523	42,107	58,617
Selling, general and administrative expenses	(12,330)	(15,883)	(12,760)
Other operating income (expenses), net	(268)	706	771
Profit (loss) from operating activities	91,924	26,930	46,628
Ternium
Disclosure of operating segments [line items]
Net sales	10,237,297	11,725,270	9,700,296
Profit (loss) from operating activities	989,982	1,853,319	1,131,008
Other financial income (expenses), net	(98,969)	(179,576)	(165,090)
Equity in earnings of non-consolidated companies	60,967	102,772	68,115
Profit before income tax expense	826,564	2,031,567	1,359,809
Depreciation and amortisation expense	(661,112)	(589,299)	(474,299)
Ternium | Inter- segment eliminations
Disclosure of operating segments [line items]
Net sales	(410,972)	(332,505)	(287,116)
Profit (loss) from operating activities	2,177	(6,213)	(1,291)
Depreciation and amortisation expense	0	0	0
Ternium | Reconciling items
Disclosure of operating segments [line items]
Cost of sales	(99,315)	(541,492)	(325,776)
Effect of inflation adjustment (Note 4 (cc))	(224,731)	(286,440)
Ternium | Steel | Operating segments
Disclosure of operating segments [line items]
Net sales	10,230,650	11,723,883	9,700,260
Profit (loss) from operating activities	841,169	1,768,115	1,065,605
Depreciation and amortisation expense	(612,744)	(537,885)	(424,529)
Ternium | Mining | Operating segments
Disclosure of operating segments [line items]
Net sales	417,619	333,892	287,152
Profit (loss) from operating activities	146,636	91,418	66,694
Depreciation and amortisation expense	$ (48,368)	$ (51,415)	$ (49,770)

SEGMENT INFORMATION (Net sales

SEGMENT INFORMATION (Net sales and long lived assets by geographic areas) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of geographical areas [line items]
Net sales	$ 10,192,818	$ 11,454,807	$ 9,700,296
Non-current assets	7,483,419	6,830,133	6,442,332
Mexico
Disclosure of geographical areas [line items]
Net sales	5,477,690	6,345,137	5,629,267
Non-current assets	4,584,802	4,093,288	4,042,914
Southern region
Disclosure of geographical areas [line items]
Net sales	1,704,132	1,941,168	2,316,444
Non-current assets	1,008,860	1,071,705	643,411
Other markets
Disclosure of geographical areas [line items]
Net sales	3,010,996	3,168,502	1,754,585
Non-current assets	$ 1,889,757	$ 1,665,140	$ 1,756,007

SEGMENT INFORMATION (Revenue by

SEGMENT INFORMATION (Revenue by product) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of products and services [line items]
Net sales	$ 10,192,818	$ 11,454,807	$ 9,700,296
Semi-finished
Disclosure of products and services [line items]
Net sales	51,496	103,099	123,752
Slabs
Disclosure of products and services [line items]
Net sales	1,753,090	1,818,235	715,513
Hot rolled
Disclosure of products and services [line items]
Net sales	3,275,941	3,961,144	3,366,697
Cold rolled
Disclosure of products and services [line items]
Net sales	1,165,406	1,264,940	1,321,663
Coated
Disclosure of products and services [line items]
Net sales	3,263,463	3,506,040	3,391,328
Roll-formed and tubular
Disclosure of products and services [line items]
Net sales	380,688	437,514	472,253
Other products
Disclosure of products and services [line items]
Net sales	302,734	363,835	309,090
Total sales
Disclosure of products and services [line items]
Net sales	$ 10,192,818	$ 11,454,807	$ 9,700,296

COST OF SALES (Details)

COST OF SALES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Analysis of income and expense [abstract]
Inventories at the beginning of the year	$ 2,689,829	$ 2,550,930	$ 1,647,869
Acquisition of business (Note 3)	0	0	400,047
Effect of initial inflation adjustment (Note 4 (cc))	0	191,708	0
Translation differences	(21,919)	(413,436)	(97,148)
Raw materials and consumables used and other movements	6,165,654	6,961,704	6,337,283
Services and fees	151,373	158,551	110,949
Labor cost	611,615	699,447	673,821
Depreciation of property, plant and equipment	508,934	456,522	348,415
Amortization of intangible assets	17,805	25,374	35,275
Maintenance expenses	467,090	519,625	480,496
Office expenses	8,513	8,586	7,350
Insurance	9,674	8,769	7,968
Charge of obsolescence allowance	8,413	17,322	(4,028)
Recovery from sales of scrap and by-products	(23,793)	(27,744)	(25,973)
Others	17,550	15,799	31,631
Less: Inventories at the end of the year	(2,158,298)	(2,689,829)	(2,550,930)
Cost of Sales	$ 8,452,440	$ 8,483,328	$ 7,403,025

SELLING, GENERAL AND ADMINIST_3

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Selling, general and administrative expense [Line Items]
Services and fees	$ 79,283	$ 76,066	$ 86,990
Labor cost	215,418	241,552	229,529
Depreciation of property, plant and equipment	16,034	13,561	12,345
Amortization of intangible assets	118,339	93,842	78,264
Maintenance and expenses	4,894	5,096	5,038
Taxes	104,014	95,072	98,786
Office expenses	35,956	35,663	35,922
Freight and transportation	307,958	300,676	259,898
(Decrease) Increase of allowance for doubtful accounts	(293)	1,629	685
Others	15,872	13,607	16,790
Selling, general and administrative expenses	897,475	876,764	824,247
PwC
Selling, general and administrative expense [Line Items]
Auditor's remuneration	3,804	4,704	3,501
Auditor's remuneration for audit services	3,485	3,937	2,863
Auditor's remuneration for audit-related services	54	61	91
Auditor's remuneration for tax services	190	281	229
Auditor's remuneration for other services	$ 75	$ 425	$ 318

LABOR COSTS (Included Cost of_3

LABOR COSTS (Included Cost of sales and Selling, General and Administrative expenses) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)employee	Dec. 31, 2018USD ($)employee	Dec. 31, 2017USD ($)employee
Labor Costs [Abstract]
Wages, salaries and social security costs	$ 759,678	$ 884,536	$ 849,354
Termination benefits	28,269	26,601	25,783
Post-employment benefits (Note 21 (i))	39,086	29,862	28,213
Labor costs	$ 827,033	$ 940,999	$ 903,350
Number of employees | employee	19,863	20,660	21,335

OTHER OPERATING INCOME (EXPEN_3

OTHER OPERATING INCOME (EXPENSES), NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Other operating income (expenses), net [Abstract]
Results of sundry assets	$ 258	$ 1,895	$ 1,190
Provision for legal claims and other matters (Note 19 and 25 (ii))	1,997	7,625	0
Other operating income	19,408	4,136	0
Other operating income	21,663	13,656	1,190
Provision for legal claims and other matters (Note 19 and 25 (ii))	0	0	(2,783)
Other operating expense	0	0	(14,647)
Other operating expense	0	0	(17,430)
Other operating (expenses) income, net	$ 21,663	$ 13,656	$ (16,240)

OTHER FINANCIAL INCOME (EXPEN_3

OTHER FINANCIAL INCOME (EXPENSES), NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Derivative instruments, gain (loss) [Line Items]
Interest expense	$ (88,284)	$ (131,172)	$ (114,583)
Finance expense	(88,284)	(131,172)	(114,583)
Interest income	29,071	21,236	19,408
Finance income	29,071	21,236	19,408
Net foreign exchange (loss) gain	(136,897)	(177,645)	(65,479)
Inflation adjustment results (Note 4 (cc))	117,956	191,427	0
Change in fair value of financial assets	0	0	(1,057)
Others	(9,984)	15,837	(7,511)
Other financial income (expenses), net	(39,756)	(69,640)	(69,915)
Foreign exchange contract
Derivative instruments, gain (loss) [Line Items]
Derivative contract results	$ (10,831)	$ (99,259)	$ 4,132

INCOME TAX EXPENSE (Income tax

INCOME TAX EXPENSE (Income tax expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Major components of tax expense (income) [Line Items]
Current tax	$ (256,460)	$ (588,773)	$ (450,384)
Effect of changes in tax law	4,178	(28,596)	0
Deferred tax	38,785	232,485	106,047
Effect of changes in tax law	16,979	0	7,455
Recovery of income tax	0	15,449	0
Income tax expense	$ (196,519)	(369,435)	(336,882)
Argentina
Major components of tax expense (income) [Line Items]
Effect of changes in tax law		$ (28,600)
United States
Major components of tax expense (income) [Line Items]
Deferred income tax benefit			$ 5,200

INCOME TAX EXPENSE (Reconciliat

INCOME TAX EXPENSE (Reconciliation of effective income tax) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of income tax [Abstract]
Income before income tax	$ 826,564	$ 2,031,567	$ 1,359,809
Income tax expense at statutory tax rate	(247,592)	(604,493)	(387,666)
Non taxable income	71,101	102,870	16,232
Non deductible expenses	(476)	(16,201)	(24,070)
Effect of currency translation on tax base	33,133	161,536	51,167
Increase of unrecognized tax losses carried-forward	(73,842)	0	0
Recovery of income tax	0	15,449	0
Effect of changes in tax law	21,157	(28,596)	7,455
Income tax expense	$ (196,519)	$ (369,435)	$ (336,882)

PROPERTY, PLANT AND EQUIPMENT_3

PROPERTY, PLANT AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2019	Dec. 31, 2018
Property, plant and equipment
Property, plant and equipment, beginning balance				$ 5,817,609	$ 5,349,753
Effect of initial inflation adjustment (Note 4 (cc))					788,030
Translation differences					(312,105)
Additions					483,069
Capitalized borrowing costs	$ 16,100	$ 7,400	$ 500	16,085	7,368
Disposals / Consumptions					(31,548)
Transfers				3,125	3,124
Depreciation charge					(470,083)
Property, plant and equipment, ending balance	6,539,581	5,817,609	5,349,753	6,539,581	5,817,609
Right-of-use assets
Right-of-use assets, beginning balance				49,370
Effect of initial recognition under IFRS 16				280,493
Translation differences				(1,263)
Additions				40,864
Disposals / Consumptions				(18,901)
Depreciation charge				(44,105)
Right-of-use assets, ending balance	306,458	49,370		306,458	49,370
Translation differences				(31,113)
Additions				1,026,721
Disposals / Consumptions				(45,449)
Depreciation charge				(524,968)
Property, plant and equipment (including right-of-use assets), ending balance	6,539,581			6,539,581
Cost
Property, plant and equipment
Property, plant and equipment, beginning balance				11,701,232	8,307,571
Property, plant and equipment, ending balance		11,701,232	8,307,571		11,701,232
Right-of-use assets
Right-of-use assets, beginning balance				55,288
Right-of-use assets, ending balance	355,928	55,288		355,928	55,288
Property, plant and equipment (including right-of-use assets), ending balance	12,823,011			12,823,011
Accumulated depreciation
Property, plant and equipment
Property, plant and equipment, beginning balance				(5,883,623)	(2,957,818)
Property, plant and equipment, ending balance		(5,883,623)	(2,957,818)		(5,883,623)
Right-of-use assets
Right-of-use assets, beginning balance				(5,918)
Right-of-use assets, ending balance	(49,470)	(5,918)		(49,470)	(5,918)
Property, plant and equipment (including right-of-use assets), ending balance	(6,283,430)			(6,283,430)
Land
Property, plant and equipment
Property, plant and equipment, beginning balance				587,174	562,042
Effect of initial inflation adjustment (Note 4 (cc))					19,646
Translation differences				(596)	(2,217)
Additions				7,531	1,888
Capitalized borrowing costs				0	0
Disposals / Consumptions				0	0
Transfers				326	5,815
Depreciation charge				0	0
Property, plant and equipment, ending balance	594,435	587,174	562,042	594,435	587,174
Land | Cost
Property, plant and equipment
Property, plant and equipment, beginning balance				587,174	562,042
Property, plant and equipment, ending balance	594,435	587,174	562,042	594,435	587,174
Land | Accumulated depreciation
Property, plant and equipment
Property, plant and equipment, beginning balance				0	0
Property, plant and equipment, ending balance	0	0	0	0	0
Buildings and improvements
Property, plant and equipment
Property, plant and equipment, beginning balance				1,782,198	1,533,436
Effect of initial inflation adjustment (Note 4 (cc))					434,683
Translation differences				(16,174)	(140,879)
Additions				9,367	4,083
Capitalized borrowing costs				0	0
Disposals / Consumptions				(750)	(93)
Transfers				154,544	80,197
Depreciation charge				(135,163)	(129,229)
Property, plant and equipment, ending balance	1,794,022	1,782,198	1,533,436	1,794,022	1,782,198
Buildings and improvements | Cost
Property, plant and equipment
Property, plant and equipment, beginning balance				3,303,174	2,096,959
Property, plant and equipment, ending balance	3,412,904	3,303,174	2,096,959	3,412,904	3,303,174
Buildings and improvements | Accumulated depreciation
Property, plant and equipment
Property, plant and equipment, beginning balance				(1,520,976)	(563,523)
Property, plant and equipment, ending balance	(1,618,882)	(1,520,976)	(563,523)	(1,618,882)	(1,520,976)
Production equipment
Property, plant and equipment
Property, plant and equipment, beginning balance				2,671,954	2,640,650
Effect of initial inflation adjustment (Note 4 (cc))					282,577
Translation differences				(9,959)	(124,066)
Additions				2,063	3,647
Capitalized borrowing costs				0	0
Disposals / Consumptions				(117)	(2,186)
Transfers				264,122	187,284
Depreciation charge				(324,112)	(315,952)
Property, plant and equipment, ending balance	2,554,581	2,671,954	2,640,650	2,554,581	2,671,954
Production equipment | Cost
Property, plant and equipment
Property, plant and equipment, beginning balance				6,803,932	4,927,478
Property, plant and equipment, ending balance	6,931,970	6,803,932	4,927,478	6,931,970	6,803,932
Production equipment | Accumulated depreciation
Property, plant and equipment
Property, plant and equipment, beginning balance				(4,131,978)	(2,286,828)
Property, plant and equipment, ending balance	(4,377,389)	(4,131,978)	(2,286,828)	(4,377,389)	(4,131,978)
Vehicles, furniture and fixtures
Property, plant and equipment
Property, plant and equipment, beginning balance				47,388	47,580
Effect of initial inflation adjustment (Note 4 (cc))					5,698
Translation differences				(316)	(5,102)
Additions				4,821	3,569
Capitalized borrowing costs				0	0
Disposals / Consumptions				(1,204)	(1,236)
Transfers				14,843	11,726
Depreciation charge				(15,167)	(14,847)
Property, plant and equipment, ending balance	50,365	47,388	47,580	50,365	47,388
Vehicles, furniture and fixtures | Cost
Property, plant and equipment
Property, plant and equipment, beginning balance				264,782	151,883
Property, plant and equipment, ending balance	268,398	264,782	151,883	268,398	264,782
Vehicles, furniture and fixtures | Accumulated depreciation
Property, plant and equipment
Property, plant and equipment, beginning balance				(217,394)	(104,303)
Property, plant and equipment, ending balance	(218,033)	(217,394)	(104,303)	(218,033)	(217,394)
Work in progress
Property, plant and equipment
Property, plant and equipment, beginning balance				617,950	456,021
Effect of initial inflation adjustment (Note 4 (cc))					25,568
Translation differences				(1,716)	(29,005)
Additions				923,599	446,002
Capitalized borrowing costs				16,085	7,368
Disposals / Consumptions				(2,988)	(3,563)
Transfers				(433,582)	(284,441)
Depreciation charge				0	0
Property, plant and equipment, ending balance	1,119,348	617,950	456,021	1,119,348	617,950
Work in progress | Cost
Property, plant and equipment
Property, plant and equipment, beginning balance				617,950	456,021
Property, plant and equipment, ending balance	1,119,348	617,950	456,021	1,119,348	617,950
Work in progress | Accumulated depreciation
Property, plant and equipment
Property, plant and equipment, beginning balance				0	0
Property, plant and equipment, ending balance	0	0	0	0	0
Spare parts
Property, plant and equipment
Property, plant and equipment, beginning balance				110,945	110,024
Effect of initial inflation adjustment (Note 4 (cc))					19,858
Translation differences				(1,089)	(10,836)
Additions				38,476	23,880
Capitalized borrowing costs				0	0
Disposals / Consumptions				(21,489)	(24,470)
Transfers				(50)	2,543
Depreciation charge				(6,421)	(10,055)
Property, plant and equipment, ending balance	120,372	110,945	110,024	120,372	110,945
Spare parts | Cost
Property, plant and equipment
Property, plant and equipment, beginning balance				124,220	113,188
Property, plant and equipment, ending balance	140,028	124,220	113,188	140,028	124,220
Spare parts | Accumulated depreciation
Property, plant and equipment
Property, plant and equipment, beginning balance				(13,275)	(3,164)
Property, plant and equipment, ending balance	$ (19,656)	$ (13,275)	$ (3,164)	$ (19,656)	$ (13,275)

PROPERTY, PLANT AND EQUIPMENT_4

PROPERTY, PLANT AND EQUIPMENT, NET - Schedule of Right-of-Use Assets (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets, beginning balance	$ 49,370
Effect of initial recognition under IFRS 16	280,493
Translation differences	(1,263)
Net additions	40,864
Disposal/Derecognition	(18,901)
Depreciation charge	(44,105)
Right-of-use assets, ending balance	306,458
Cost
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets, beginning balance	55,288
Right-of-use assets, ending balance	355,928
Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets, beginning balance	(5,918)
Right-of-use assets, ending balance	(49,470)
Buildings and improvements
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets, beginning balance	0
Effect of initial recognition under IFRS 16	226,936
Translation differences	(115)
Net additions	18,931
Disposal/Derecognition	0
Depreciation charge	(28,895)
Right-of-use assets, ending balance	216,857
Buildings and improvements | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets, beginning balance	0
Right-of-use assets, ending balance	245,752
Buildings and improvements | Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets, beginning balance	0
Right-of-use assets, ending balance	(28,895)
Production equipment
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets, beginning balance	49,370
Effect of initial recognition under IFRS 16	52,469
Translation differences	(1,148)
Net additions	21,933
Disposal/Derecognition	(18,094)
Depreciation charge	(14,929)
Right-of-use assets, ending balance	89,601
Production equipment | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets, beginning balance	55,288
Right-of-use assets, ending balance	110,176
Production equipment | Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets, beginning balance	(5,918)
Right-of-use assets, ending balance	(20,575)
Vehicles, furniture and fixtures
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets, beginning balance	0
Effect of initial recognition under IFRS 16	1,088
Translation differences	0
Net additions	0
Disposal/Derecognition	(807)
Depreciation charge	(281)
Right-of-use assets, ending balance	0
Vehicles, furniture and fixtures | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets, beginning balance	0
Right-of-use assets, ending balance	0
Vehicles, furniture and fixtures | Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets, beginning balance	0
Right-of-use assets, ending balance	$ 0

PROPERTY, PLANT AND EQUIPMENT_5

PROPERTY, PLANT AND EQUIPMENT, NET - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Disclosure of detailed information about property, plant and equipment [abstract]
Expense relating to variable lease payments not included in measurement of lease liabilities	$ 17,400
Expense relating to short-term leases for which recognition exemption has been used	$ 3,400

INTANGIBLE ASSETS, NET (Details

INTANGIBLE ASSETS, NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, beginning balance	$ 1,012,524	$ 1,092,579
Effect of initial inflation adjustment (Note 4 (cc))		4,966
Translation differences	(463)	(6,674)
Additions	68,657	40,478
Disposals / Consumptions	0	(87)
Transfers	(736)	478
Depreciation charge	(136,144)	(119,216)
Intangible assets and goodwill, ending balance	943,838	1,012,524
Cost
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, beginning balance	1,901,185	1,817,081
Intangible assets and goodwill, ending balance	1,960,286	1,901,185
Accumulated depreciation
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, beginning balance	(888,661)	(724,502)
Intangible assets and goodwill, ending balance	(1,016,448)	(888,661)
Information system projects
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, beginning balance	71,761	60,909
Effect of initial inflation adjustment (Note 4 (cc))		4,966
Translation differences	(463)	(6,674)
Additions	31,812	27,594
Disposals / Consumptions	0	(87)
Transfers	(738)	480
Depreciation charge	(27,991)	(15,427)
Intangible assets and goodwill, ending balance	74,381	71,761
Information system projects | Cost
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, beginning balance	320,600	249,379
Intangible assets and goodwill, ending balance	342,857	320,600
Information system projects | Accumulated depreciation
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, beginning balance	(248,839)	(188,470)
Intangible assets and goodwill, ending balance	(268,476)	(248,839)
Mining assets
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, beginning balance	76,288	94,337
Effect of initial inflation adjustment (Note 4 (cc))		0
Translation differences	0	0
Additions	12,580	10,243
Disposals / Consumptions	0	0
Transfers	27,954	(10,237)
Depreciation charge	(12,305)	(18,055)
Intangible assets and goodwill, ending balance	104,517	76,288
Mining assets | Cost
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, beginning balance	216,203	216,196
Intangible assets and goodwill, ending balance	256,736	216,203
Mining assets | Accumulated depreciation
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, beginning balance	(139,915)	(121,859)
Intangible assets and goodwill, ending balance	(152,219)	(139,915)
Exploration and evaluation costs
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, beginning balance	23,209	10,333
Effect of initial inflation adjustment (Note 4 (cc))		0
Translation differences	0	0
Additions	24,265	2,641
Disposals / Consumptions	0	0
Transfers	(27,952)	10,235
Depreciation charge	0	0
Intangible assets and goodwill, ending balance	19,522	23,209
Exploration and evaluation costs | Cost
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, beginning balance	23,209	10,333
Intangible assets and goodwill, ending balance	19,522	23,209
Exploration and evaluation costs | Accumulated depreciation
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, beginning balance	0	0
Intangible assets and goodwill, ending balance	0	0
Customer relationships and other contractual rights
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, beginning balance	178,959	264,693
Effect of initial inflation adjustment (Note 4 (cc))		0
Translation differences	0	0
Additions	0	0
Disposals / Consumptions	0	0
Transfers	0	0
Depreciation charge	(95,848)	(85,734)
Intangible assets and goodwill, ending balance	83,111	178,959
Customer relationships and other contractual rights | Cost
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, beginning balance	604,931	604,931
Intangible assets and goodwill, ending balance	604,929	604,931
Customer relationships and other contractual rights | Accumulated depreciation
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, beginning balance	(425,972)	(340,238)
Intangible assets and goodwill, ending balance	(521,818)	(425,972)
Trademarks
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, beginning balance	0	0
Effect of initial inflation adjustment (Note 4 (cc))		0
Translation differences	0	0
Additions	0	0
Disposals / Consumptions	0	0
Transfers	0	0
Depreciation charge	0	0
Intangible assets and goodwill, ending balance	0	0
Trademarks | Cost
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, beginning balance	73,935	73,935
Intangible assets and goodwill, ending balance	73,935	73,935
Trademarks | Accumulated depreciation
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, beginning balance	(73,935)	(73,935)
Intangible assets and goodwill, ending balance	(73,935)	(73,935)
Goodwill
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, beginning balance	662,307	662,307
Effect of initial inflation adjustment (Note 4 (cc))		0
Translation differences	0	0
Additions	0	0
Disposals / Consumptions	0	0
Transfers	0	0
Depreciation charge	0	0
Intangible assets and goodwill, ending balance	662,307	662,307
Goodwill | Cost
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, beginning balance	662,307	662,307
Intangible assets and goodwill, ending balance	662,307	662,307
Goodwill | Accumulated depreciation
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill, beginning balance	0	0
Intangible assets and goodwill, ending balance	$ 0	$ 0

INVESTMENTS IN NON-CONSOLIDAT_3

INVESTMENTS IN NON-CONSOLIDATED COMPANIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure of interests in other entities [Abstract]
Investments in non-consolidated companies, beginning balance	$ 495,241	$ 478,348
Equity in earnings of non-consolidated companies	60,967	102,772
Other comprehensive income	(39,449)	(77,042)
Dividends from non-consolidated companies	(3,111)	(8,837)
Investments in non-consolidated companies, ending balance	$ 513,648	$ 495,241

INVESTMENTS IN NON-CONSOLIDAT_4

INVESTMENTS IN NON-CONSOLIDATED COMPANIES (Schedule of principal in non-consolidated companies) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of unconsolidated structured entities [line items]
Investments in non-consolidated companies	$ 513,648	$ 495,241	$ 478,348
USINAS SIDEÚRGICAS DE MINAS GERAIS S.A.
Disclosure of unconsolidated structured entities [line items]
Proportion of voting rights held by non-consolidated companies	20.42%
Investments in non-consolidated companies	$ 486,643	480,084	$ 466,299
Other
Disclosure of unconsolidated structured entities [line items]
Investments in non-consolidated companies	$ 5,432	$ 4,866
Brazil | USINAS SIDEÚRGICAS DE MINAS GERAIS S.A.
Disclosure of unconsolidated structured entities [line items]
Proportion of voting rights held by non-consolidated companies	34.39%	34.39%
Investments in non-consolidated companies	$ 486,643	$ 480,084
Mexico | Techgen S.A. de C.V.
Disclosure of unconsolidated structured entities [line items]
Proportion of voting rights held by non-consolidated companies	48.00%	48.00%
Investments in non-consolidated companies	$ 21,573	$ 10,291

INVESTMENTS IN NON-CONSOLIDAT_5

INVESTMENTS IN NON-CONSOLIDATED COMPANIES (Narrative) (Details) $ / shares in Units, $ in Thousands, shares in Millions	12 Months Ended
	Dec. 31, 2019USD ($)$ / sharesMWshares	Dec. 31, 2018USD ($)$ / shares	Dec. 31, 2017USD ($)	Dec. 31, 2019R$ / shares	Dec. 31, 2018R$ / shares
Disclosure of unconsolidated structured entities [line items]
Fair value of investments in associates for which there are quoted market prices	$ 614,100
Investments in associates	486,600
Revenue	10,192,818	$ 11,454,807	$ 9,700,296
USINAS SIDEÚRGICAS DE MINAS GERAIS S.A.
Disclosure of unconsolidated structured entities [line items]
Revenue	$ 3,790,000	$ 3,766,000
USINAS SIDEÚRGICAS DE MINAS GERAIS S.A. | Ternium Investments S.à r.l., Ternium Argentina S.A. and Prosid Investments S.A.
Disclosure of unconsolidated structured entities [line items]
Percentage of voting equity interests acquired	20.50%
Techgen S.A. de C.V.
Disclosure of unconsolidated structured entities [line items]
Number of megawatts (MW) | MW	900
Subordinated liabilities	$ 127,700
Techgen S.A. de C.V. | Ternium S.A.
Disclosure of unconsolidated structured entities [line items]
Proportion of ownership interest in associate (percent)	48.00%
Proportion of ownership interest in associate's power supply (percent)	78.00%
Techgen S.A. de C.V. | Tecpetrol International S.A.
Disclosure of unconsolidated structured entities [line items]
Proportion of ownership interest in associate (percent)	30.00%
Techgen S.A. de C.V. | Tenaris Investments S.à.r.l.
Disclosure of unconsolidated structured entities [line items]
Proportion of ownership interest in associate (percent)	22.00%
Proportion of ownership interest in associate's power supply (percent)	22.00%
Ordinary shares
Disclosure of unconsolidated structured entities [line items]
Share price (per share) | (per share)	$ 2.45	$ 2.95		R$ 9.87	R$ 11.44
Ordinary shares | USINAS SIDEÚRGICAS DE MINAS GERAIS S.A. | Ternium Investments S.à r.l., Ternium Argentina S.A. and Prosid Investments S.A.
Disclosure of unconsolidated structured entities [line items]
Number of shares outstanding (shares) | shares	242.6
Preferred shares
Disclosure of unconsolidated structured entities [line items]
Share price (per share) | (per share)	$ 2.36	$ 2.38		R$ 9.51	R$ 9.22
Preferred shares | USINAS SIDEÚRGICAS DE MINAS GERAIS S.A. | Ternium Investments S.à r.l., Ternium Argentina S.A. and Prosid Investments S.A.
Disclosure of unconsolidated structured entities [line items]
Number of shares outstanding (shares) | shares	8.5

INVESTMENTS IN NON-CONSOLIDAT_6

INVESTMENTS IN NON-CONSOLIDATED COMPANIES (Value of investment in Usinas) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of unconsolidated structured entities [line items]
Investments in non-consolidated companies, beginning balance	$ 495,241	$ 478,348
Share of results	60,967	102,772
Other comprehensive income	(39,449)	(77,042)
Dividends	(3,111)	(8,837)	$ (3,360)
Investments in non-consolidated companies, ending balance	513,648	495,241	478,348
USINAS SIDEÚRGICAS DE MINAS GERAIS S.A.
Disclosure of unconsolidated structured entities [line items]
Investments in non-consolidated companies, beginning balance	480,084	466,299
Share of results	48,502	97,733
Other comprehensive income	(38,896)	(75,195)
Dividends	(3,047)	(8,753)
Investments in non-consolidated companies, ending balance	$ 486,643	$ 480,084	$ 466,299

INVESTMENTS IN NON-CONSOLIDAT_7

INVESTMENTS IN NON-CONSOLIDATED COMPANIES (Investment in Usinas) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of unconsolidated structured entities [line items]
Equity	$ 7,714,873	$ 7,484,576	$ 6,543,604	$ 5,852,771	$ 5,166,593
Investments in non-consolidated companies	513,648	495,241		478,348
USINAS SIDEÚRGICAS DE MINAS GERAIS S.A.
Disclosure of unconsolidated structured entities [line items]
Equity	$ 3,484,115	3,682,000
Proportion of ownership interest in associate	20.42%
Investments in non-consolidated companies	$ 486,643	$ 480,084		$ 466,299
Purchase price allocation	73,264
Goodwill	257,879
Impairment	(556,058)
USINAS SIDEÚRGICAS DE MINAS GERAIS S.A. | Ternium S.A.
Disclosure of unconsolidated structured entities [line items]
Investments in non-consolidated companies	$ 711,558

INVESTMENTS IN NON-CONSOLIDAT_8

INVESTMENTS IN NON-CONSOLIDATED COMPANIES (Summarized balance sheet information) (Details) - USD ($) $ in Thousands	Dec. 31, 2019		Dec. 31, 2018		Jan. 01, 2018	Dec. 31, 2017		Dec. 31, 2016
Assets
Non-current	$ 8,757,320		$ 8,121,824
Current	4,178,213		4,426,038
Other current investments	212,271		44,529
Cash and cash equivalents	519,965	[1]	250,541	[1]		$ 337,779	[1]	$ 183,463
Total Assets	12,935,533		12,547,862
Liabilities
Non-current	3,452,535		3,236,756
Non-current borrowings	1,628,892		1,637,101
Current	1,768,125		1,826,530
Current borrowings	559,782		399,856
Total Liabilities	5,220,660		5,063,286
Non-controlling interest	1,103,208		1,091,321
Total Equity	7,714,873		7,484,576		$ 6,543,604	$ 5,852,771		$ 5,166,593
USINAS SIDEÚRGICAS DE MINAS GERAIS S.A.
Assets
Non-current	4,336,000		4,697,000
Current	1,721,000		1,711,000
Other current investments	166,000		151,000
Cash and cash equivalents	311,000		286,000
Total Assets	6,534,000		6,845,000
Liabilities
Non-current	718,000		544,000
Non-current borrowings	1,237,000		1,389,000
Current	687,000		740,000
Current borrowings	30,000		121,000
Total Liabilities	2,672,000		2,794,000
Non-controlling interest	378,000		369,000
Total Equity	$ 3,484,115		$ 3,682,000
[1]	It includes restricted cash of $69, $2,216 and $50 as of December 31, 2019, 2018 and 2017, respectively. In addition, the Company had other investments with a maturity of more than three months for $212,271, $44,529 and $135,864 as of December 31, 2019, 2018 and 2017, respectively.

INVESTMENTS IN NON-CONSOLIDAT_9

INVESTMENTS IN NON-CONSOLIDATED COMPANIES (Summarized income statement information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of unconsolidated structured entities [line items]
Net sales	$ 10,192,818	$ 11,454,807	$ 9,700,296
Cost of sales	(8,452,440)	(8,483,328)	(7,403,025)
Gross profit	1,740,378	2,971,479	2,297,271
Selling, general and administrative expenses	(897,475)	(876,764)	(824,247)
Other operating income (expenses), net	21,663	13,656	(16,240)
Profit (loss) from operating activities	864,566	2,108,371	1,456,784
Profit before income tax expense	826,564	2,031,567	1,359,809
Income tax expense	(196,519)	(369,435)	(336,882)
Net profit (loss) before non-controlling interest	630,045	1,662,132	1,022,927
Non-controlling interest in other subsidiaries	(65,776)	(155,485)	(136,708)
Net profit (loss) for the year	564,269	1,506,647	$ 886,219
USINAS SIDEÚRGICAS DE MINAS GERAIS S.A.
Disclosure of unconsolidated structured entities [line items]
Net sales	3,790,000	3,766,000
Cost of sales	(3,312,000)	(3,154,000)
Gross profit	478,000	612,000
Selling, general and administrative expenses	(181,000)	(213,000)
Other operating income (expenses), net	(100,000)	(153,000)
Profit (loss) from operating activities	197,000	246,000
Financial expenses, net	(132,000)	15,000
Equity in earnings of associated companies	46,000	70,000
Profit before income tax expense	110,000	331,000
Income tax expense	(16,000)	(110,000)
Net profit (loss) before non-controlling interest	94,000	221,000
Non-controlling interest in other subsidiaries	(41,000)	(28,000)
Net profit (loss) for the year	$ 53,000	$ 193,000

RECEIVABLES, NET - NON CURREN_3

RECEIVABLES, NET - NON CURRENT AND CURRENT (Non-current Receivables) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Receivables, net [Abstract]
Receivables with related parties (Notes 26 and 14 (b))	$ 126,948	$ 151,388
Employee advances and loans	1,572	2,425
Advances to suppliers for the purchase of property, plant and equipment	50,079	74,741
Advances to suppliers for the purchase of property, plant and equipment with related parties (Note 26)	7,827	7,493
Other receivables (Note 3 (c) (iii))	254,446	264,683
Tax credits	150,721	146,711
Others	972	2,006
Receivables, net – Non-current	$ 592,565	$ 649,447

RECEIVABLES, NET - NON CURREN_4

RECEIVABLES, NET - NON CURRENT AND CURRENT (Current receivables) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Receivables, net [Abstract]
Value added tax	$ 162,121	$ 156,627
Tax credits	99,315	72,957
Employee advances and loans	3,667	4,701
Advances to suppliers	10,134	15,563
Advances to suppliers with related parties (Note 26)	16,126	2,854
Expenses paid in advance	9,781	15,862
Government tax refunds on exports	14,805	17,311
Receivables with related parties (Note 26)	3,696	9,536
Others	15,068	14,339
Receivables, net – Current	$ 334,713	$ 309,750

TRADE RECEIVABLES, NET - NON _3

TRADE RECEIVABLES, NET - NON CURRENT AND CURRENT (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Trade and other receivables [abstract]
Trade receivables, net – Non-current	$ 897	$ 4,766
Current accounts	920,937	1,096,072
Trade receivables with related parties	41,696	46,744
Allowance for doubtful accounts	(12,961)	(14,346)
Trade receivables, net - Current	$ 949,672	$ 1,128,470

TRADE RECEIVABLES, NET - NON _4

TRADE RECEIVABLES, NET - NON CURRENT AND CURRENT (Schedule of trade receivables, net) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Disclosure of trade receivables [Line Items]
Trade receivables, net	$ 2,093,373	$ 1,885,915
Trade receivables
Disclosure of trade receivables [Line Items]
Trade receivables, net	950,569	1,133,236
Trade receivables | Fully performing
Disclosure of trade receivables [Line Items]
Trade receivables, net	877,236	1,035,036
Trade receivables | Past due
Disclosure of trade receivables [Line Items]
Trade receivables, net	73,333	98,200
Gross carrying amount | Guaranteed
Disclosure of trade receivables [Line Items]
Trade receivables, net	469,087	564,015
Gross carrying amount | Guaranteed | Fully performing
Disclosure of trade receivables [Line Items]
Trade receivables, net	424,052	502,822
Gross carrying amount | Guaranteed | Past due
Disclosure of trade receivables [Line Items]
Trade receivables, net	45,035	61,193
Gross carrying amount | Not guaranteed
Disclosure of trade receivables [Line Items]
Trade receivables, net	494,443	583,567
Gross carrying amount | Not guaranteed | Fully performing
Disclosure of trade receivables [Line Items]
Trade receivables, net	453,184	532,214
Gross carrying amount | Not guaranteed | Past due
Disclosure of trade receivables [Line Items]
Trade receivables, net	41,259	51,353
Gross carrying amount | Trade receivables
Disclosure of trade receivables [Line Items]
Trade receivables, net	963,530	1,147,582
Gross carrying amount | Trade receivables | Fully performing
Disclosure of trade receivables [Line Items]
Trade receivables, net	877,236	1,035,036
Gross carrying amount | Trade receivables | Past due
Disclosure of trade receivables [Line Items]
Trade receivables, net	86,294	112,546
Accumulated impairment | Trade receivables
Disclosure of trade receivables [Line Items]
Trade receivables, net	(12,961)	(14,346)
Accumulated impairment | Trade receivables | Fully performing
Disclosure of trade receivables [Line Items]
Trade receivables, net	0	0
Accumulated impairment | Trade receivables | Past due
Disclosure of trade receivables [Line Items]
Trade receivables, net	$ (12,961)	$ (14,346)

INVENTORIES, NET (Details)

INVENTORIES, NET (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Subclassifications of assets, liabilities and equities [abstract]
Raw materials, materials and spare parts	$ 731,901	$ 850,182
Goods in process	975,553	1,187,071
Finished goods	396,401	464,154
Goods in transit	116,610	243,876
Obsolescence allowance (Note 19)	(62,167)	(55,454)
Inventories, net	$ 2,158,298	$ 2,689,829	$ 2,550,930	$ 1,647,869

CASH, CASH EQUIVALENTS AND OT_3

CASH, CASH EQUIVALENTS AND OTHER INVESTMENTS - NON CURRENT AND CURRENT (Other investments) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Cash, cash equivalents and other investments [Abstract]
Investments in companies under cost method	$ 252	$ 252
Investments in debt instruments	3,001	6,943
Other investments, net – Non-current	$ 3,253	$ 7,195

CASH, CASH EQUIVALENTS AND OT_4

CASH, CASH EQUIVALENTS AND OTHER INVESTMENTS - NON CURRENT AND CURRENT (Cash and cash equivalents) (Details) - USD ($) $ in Thousands	Dec. 31, 2019		Dec. 31, 2018		Dec. 31, 2017		Dec. 31, 2016
Other investments [Abstract]
Other deposits with maturity of more than three months	$ 212,271		$ 44,529
Other investments - Current	212,271		44,529
Cash and cash equivalents [abstract]
Cash and banks	115,575		87,863
Restricted cash	69		2,216		$ 50
Short-term bank deposits	199,878		140,456
Other deposits with maturity of less than three months	204,443		20,006
Cash and cash equivalents	$ 519,965	[1]	$ 250,541	[1]	$ 337,779	[1]	$ 183,463
[1]	It includes restricted cash of $69, $2,216 and $50 as of December 31, 2019, 2018 and 2017, respectively. In addition, the Company had other investments with a maturity of more than three months for $212,271, $44,529 and $135,864 as of December 31, 2019, 2018 and 2017, respectively.

ALLOWANCES AND PROVISIONS - N_3

ALLOWANCES AND PROVISIONS - NON CURRENT AND CURRENT (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Non-current provisions [abstract]
Non-current provisions, beginning of the year	$ 643,950
Non-current provisions, end of the year	613,352	$ 643,950
Legal claims and other matters
Non-current provisions [abstract]
Non-current provisions, beginning of the year	643,950	768,517
Effect of initial inflation adjustment (note 4 (cc))		1,315
Translation differences	(25,701)	(113,571)
Additions	2,689	6,438
Reversals	(4,417)	(14,097)
Uses	(3,170)	(4,652)
Non-current provisions, end of the year	613,351	643,950
Asset retirement obligation
Non-current provisions [abstract]
Non-current provisions, beginning of the year	24,554	27,829
Effect of initial inflation adjustment (note 4 (cc))		0
Translation differences	1,077	82
Additions	925	5,383
Reversals	0	(8,740)
Uses	0	0
Non-current provisions, end of the year	26,556	24,554
Current provisions [abstract]
Current provisions, beginning of the year	9,851	2,659
Effect of initial inflation adjustment (note 4 (cc))		0
Translation differences	348	(10)
Additions	5,201	7,659
Reversals	0	0
Uses	(6,898)	(457)
Current provisions, end of the year	8,502	9,851
Allowance for doubtful accounts
Current provisions [abstract]
Current provisions, beginning of the year	14,346	16,543
Effect of initial inflation adjustment (note 4 (cc))		202
Translation differences	(285)	(2,076)
Additions	787	2,732
Reversals	(1,080)	(1,103)
Uses	(807)	(1,952)
Current provisions, end of the year	12,961	14,346
Obsolescence allowance
Current provisions [abstract]
Current provisions, beginning of the year	55,454	36,197
Effect of initial inflation adjustment (note 4 (cc))		6,530
Translation differences	(458)	(2,384)
Additions	18,036	22,822
Reversals	(9,623)	(5,500)
Uses	(1,242)	(2,211)
Current provisions, end of the year	$ 62,167	$ 55,454

DEFERRED INCOME TAX (Changes in

DEFERRED INCOME TAX (Changes in deferred income tax) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Deferred income tax [Abstract]
At the beginning of the year	$ (340,207)	$ (392,265)
Translation differences	25,166	(7,201)
Effect of changes in tax law (Note 11)	16,979	0	$ 7,455
Effect of initial inflation adjustment	0	(182,773)
Credits (Charges) directly to other comprehensive income	19,537	9,547
Deferred tax (charge) credit (Note 11)	38,785	232,485
At the end of the year	$ (239,740)	$ (340,207)	$ (392,265)

DEFERRED INCOME TAX (Changes _2

DEFERRED INCOME TAX (Changes in deferred tax assets and liabilities) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax liability, beginning balance	$ (474,431)
Deferred tax assets, beginning balance	134,224
Translation differences	25,166	$ (7,201)
Credits (Charges) directly to other comprehensive income	19,537	9,547
Effect of initial inflation adjustment	0	(182,773)
Effect of changes in tax law	16,979	0	$ 7,455
Deferred tax (charge) credit	38,785	232,485
Deferred tax liability, ending balance	(403,278)	(474,431)
Deferred tax assets, ending balance	163,538	134,224
Deferred tax assets recognized on unused tax losses	42,766	33,383
Unused tax credits for which no deferred tax asset recognised	400,000	400,000
Unused tax losses for which no deferred tax asset recognised	1,400,000	1,300,000
PP&E
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax liability, beginning balance	(522,455)	(539,839)
Translation differences	27,077	9,726
Effect of initial inflation adjustment		(161,044)
Deferred tax (charge) credit	58,002	168,702
Deferred tax liability, ending balance	(437,376)	(522,455)	(539,839)
Inventories
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax liability, beginning balance	(41,316)	(57,006)
Translation differences	2,604	527
Effect of initial inflation adjustment		(20,967)
Deferred tax (charge) credit	(24,748)	36,130
Deferred tax liability, ending balance	(63,460)	(41,316)	(57,006)
Intangible assets
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax liability, beginning balance	(15,926)	(18,692)
Translation differences	316	497
Effect of initial inflation adjustment		(762)
Deferred tax (charge) credit	(1,499)	3,031
Deferred tax liability, ending balance	(17,109)	(15,926)	(18,692)
Other
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax liability, beginning balance	(1,088)	(2,056)
Translation differences	0	(688)
Effect of initial inflation adjustment		0
Deferred tax (charge) credit	(101)	1,656
Deferred tax liability, ending balance	(1,189)	(1,088)	(2,056)
Deferred tax liabilities
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax liability, beginning balance	(580,785)	(617,593)
Translation differences	29,997	10,062
Effect of initial inflation adjustment		(182,773)
Deferred tax (charge) credit	31,654	209,519
Deferred tax liability, ending balance	(519,134)	(580,785)	(617,593)
Provisions
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax assets, beginning balance	72,947	61,101
Translation differences	(572)	(6,036)
Credits (Charges) directly to other comprehensive income	0	0
Effect of changes in tax law	0
Deferred tax (charge) credit	(26,721)	17,882
Deferred tax assets, ending balance	45,654	72,947	61,101
Trade receivables
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax assets, beginning balance	11,265	8,200
Translation differences	(539)	(1,089)
Credits (Charges) directly to other comprehensive income	0	0
Effect of changes in tax law	0
Deferred tax (charge) credit	(526)	4,154
Deferred tax assets, ending balance	10,200	11,265	8,200
Tax losses
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax assets, beginning balance	33,382	43,355
Translation differences	0	0
Credits (Charges) directly to other comprehensive income	0	0
Effect of changes in tax law	0
Deferred tax (charge) credit	9,384	(9,973)
Deferred tax assets, ending balance	42,766	33,382	43,355
Other
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax assets, beginning balance	122,984	112,672
Translation differences	(3,720)	(10,137)
Credits (Charges) directly to other comprehensive income	19,537	9,547
Effect of changes in tax law	16,979
Deferred tax (charge) credit	24,994	10,903
Deferred tax assets, ending balance	180,774	122,984	112,672
Deferred tax assets
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax assets, beginning balance	240,578	225,328
Translation differences	(4,831)	(17,263)
Credits (Charges) directly to other comprehensive income	19,537	9,547
Effect of changes in tax law	16,979
Deferred tax (charge) credit	7,131	22,966
Deferred tax assets, ending balance	$ 279,394	$ 240,578	$ 225,328

DEFERRED INCOME TAX (Schedule o

DEFERRED INCOME TAX (Schedule of deferred tax assets and liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Deferred income tax [Abstract]
Deferred tax assets to be recovered after more than 12 months	$ 203,607	$ 153,681
Deferred tax assets to be recovered within 12 months	75,787	86,897
Deferred tax liabilities to be settled after more than 12 months	(454,763)	(538,854)
Deferred tax liabilities to be settled within 12 months	(64,371)	(41,931)
Deferred tax liability (asset)	$ (239,740)	$ (340,207)	$ (392,265)

OTHER LIABILITIES - NON CURRE_3

OTHER LIABILITIES - NON CURRENT AND CURRENT (Other liabilities - Non-current) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Disclosure of other liabilities [Abstract]
Post-employment benefits	$ 405,935	$ 312,293
Other employee benefits	44,496	38,891
Asset retirement obligation (note 19)	26,556	24,554
Other	30,616	38,803
Other liabilities – Non-current	$ 507,603	$ 414,541

OTHER LIABILITIES - NON CURRE_4

OTHER LIABILITIES - NON CURRENT AND CURRENT (Schedule of other liabilities in statement of financial position) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of net defined benefit liability (asset) [line items]
Net defined benefit liability (asset) - beginning balance	$ 312,293
Total expense	39,086	$ 29,862	$ 28,213
Net defined benefit liability (asset) - ending balance	405,935	312,293
Present value of defined benefit obligation
Disclosure of net defined benefit liability (asset) [line items]
Net defined benefit liability (asset) - beginning balance	312,293	275,950
Transfers, new participants and funding of the plan	(6)	(3,177)
Total expense	39,086	29,862
Remeasurements	67,601	38,263
Effect of changes in demographic assumptions	674	22,575
Effect of changes in financial assumptions	55,059	2,272
Effect of experience adjustments	11,868	13,416
Translation differences	12,228	(283)
Contributions paid	(25,267)	(28,322)
Net defined benefit liability (asset) - ending balance	$ 405,935	$ 312,293	$ 275,950

OTHER LIABILITIES - NON CURRE_5

OTHER LIABILITIES - NON CURRENT AND CURRENT (Schedule of amounts recognized in income statement) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of other liabilities [Abstract]
Current service cost	$ 11,776	$ 7,284
Interest cost	27,310	22,578
Total included in labor costs	$ 39,086	$ 29,862	$ 28,213

OTHER LIABILITIES - NON CURRE_6

OTHER LIABILITIES - NON CURRENT AND CURRENT (Actuarial assumptions of defined benefit obligation) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Bottom of range
Disclosure of defined benefit plans [line items]
Estimate of contributions expected to be paid to plan for next five years	$ 25.1
Top of range
Disclosure of defined benefit plans [line items]
Estimate of contributions expected to be paid to plan for next five years	$ 32.6
Mexico
Disclosure of defined benefit plans [line items]
Discount rate	7.25%	8.75%
Mexico | Bottom of range
Disclosure of defined benefit plans [line items]
Compensation growth rate	6.00%	6.00%
Mexico | Top of range
Disclosure of defined benefit plans [line items]
Compensation growth rate	7.00%	7.00%
Argentina | Bottom of range
Disclosure of defined benefit plans [line items]
Discount rate	6.00%	6.00%
Compensation growth rate	2.00%	2.00%
Argentina | Top of range
Disclosure of defined benefit plans [line items]
Discount rate	7.00%	7.00%
Compensation growth rate	3.00%	3.00%
Discount rate
Disclosure of defined benefit plans [line items]
Percentage of reasonably possible increase in actuarial assumption	1.00%
Percentage of reasonably possible decrease in actuarial assumption	1.00%
Increase in assumption, Impact on defined benefit obligation	(9.40%)
Decrease in assumption, Impact on defined benefit obligation	11.70%
Compensation growth rate
Disclosure of defined benefit plans [line items]
Percentage of reasonably possible increase in actuarial assumption	1.00%
Percentage of reasonably possible decrease in actuarial assumption	1.00%
Increase in assumption, Impact on defined benefit obligation	1.80%
Decrease in assumption, Impact on defined benefit obligation	(4.30%)
Pension growth rate
Disclosure of defined benefit plans [line items]
Percentage of reasonably possible increase in actuarial assumption	1.00%
Percentage of reasonably possible decrease in actuarial assumption	1.00%
Increase in assumption, Impact on defined benefit obligation	(1.30%)
Decrease in assumption, Impact on defined benefit obligation	1.60%
Life expectancy
Disclosure of defined benefit plans [line items]
Reasonably possible increase in actuarial assumption, Life expectancy	1 year
Reasonably possible decrease in actuarial assumption, Life expectancy	1 year
Increase in assumption, Impact on defined benefit obligation	(1.70%)
Decrease in assumption, Impact on defined benefit obligation	1.70%

OTHER LIABILITIES - NON CURRE_7

OTHER LIABILITIES - NON CURRENT AND CURRENT (Other liabilities - Current) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Disclosure of other liabilities [Abstract]
Payroll and social security payable	$ 107,999	$ 177,407
VAT liabilities	58,799	79,060
Other tax liabilities	38,153	36,203
Termination benefits	493	1,501
Related Parties (Note 26)	2,074	3,341
Asset retirement obligation (Note 19)	8,502	9,851
Others	24,914	43,853
Other liabilities – Current	$ 240,934	$ 351,216

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS (Net fair value) (Details) - Fair value hedges - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about hedging instruments [line items]
Derivative financial assets for hedging	$ 1,196	$ 1,588
Derivative financial liabilities for hedging	(3,024)	(12,981)
Interest rate swap contracts
Disclosure of detailed information about hedging instruments [line items]
Derivative financial assets for hedging	0	818
Derivative financial liabilities for hedging	(17)	0
Foreign exchange contracts
Disclosure of detailed information about hedging instruments [line items]
Derivative financial assets for hedging	1,196	770
Derivative financial liabilities for hedging	$ (3,007)	$ (12,981)

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2013
Disclosure of detailed information about financial instruments [line items]
Reserve of cash flow hedges, net of tax	$ (0.1)	$ 0.5	$ 0.6
Interest rate swap contracts
Disclosure of detailed information about financial instruments [line items]
Other comprehensive income that will be reclassified to profit or loss, before tax	(0.1)
Interest rate swap contracts | Tenigal S. de R.L. de C.V.
Disclosure of detailed information about financial instruments [line items]
Notional amount				$ 100
Derivative, average fixed interest rate				1.92%
Reserve of cash flow hedges, net of tax	(0.1)
Non-deliverable forward contract | Ternium Colombia S.A.S (formerly Ferrasa S.A.S)
Disclosure of detailed information about financial instruments [line items]
Notional amount	70.2
Forward contract | Ternium Mexico S.A. de C.V.
Disclosure of detailed information about financial instruments [line items]
Notional amount	146.5
Forward contract | Ternium Investments S.à.r.l.
Disclosure of detailed information about financial instruments [line items]
Notional amount	$ 10.9

DERIVATIVE FINANCIAL INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS (Changes in fair value) (Details) - Cash flow hedges - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure of analysis of other comprehensive income by item [line items]
Other comprehensive income, before tax, cash flow hedges	$ 679	$ 810
Accumulated other comprehensive income, tax	(202)	(129)
Other comprehensive income, net of tax, cash flow hedges	477	681
Gains (losses) on cash flow hedges, before tax	(475)	(14)
Gains (losses) on cash flow hedges, tax	142	(108)
Gains (losses) on cash flow hedges, net of tax	(333)	(122)
Reclassification adjustments on cash flow hedges, before tax	(276)	(117)
Reclassification adjustments on exchange differences on translation, tax	83	35
Reclassification adjustments on cash flow hedges, net of tax	(193)	(82)
Other comprehensive income, before tax, cash flow hedges	(72)	679
Accumulated other comprehensive income, tax	23	(202)
Other comprehensive income, net of tax, cash flow hedges	$ (49)	$ 477

DERIVATIVE FINANCIAL INSTRUME_6

DERIVATIVE FINANCIAL INSTRUMENTS (Exchange rate derivative contract) (Details) $ in Thousands, € in Millions, R$ in Millions, $ in Billions	Dec. 31, 2019USD ($)	Dec. 31, 2019BRL (R$)	Dec. 31, 2019EUR (€)	Dec. 31, 2019COP ($)	Dec. 31, 2018USD ($)
Disclosure of detailed information about financial instruments [line items]
Financial assets, at fair value	$ 239,876				$ 178,673
Financial liabilities, at fair value	(3,024)				(12,981)
Forward contract
Disclosure of detailed information about financial instruments [line items]
Financial liabilities, at fair value	(1,811)				(12,211)
Long | Forward contract
Disclosure of detailed information about financial instruments [line items]
Notional amount		R$ 34.5	€ 140.8
Long | Euro Member Countries, Euro | Forward contract
Disclosure of detailed information about financial instruments [line items]
Financial assets, at fair value	1,196
Financial liabilities, at fair value					(12,954)
Long | Brazil, Brazil Real | Forward contract
Disclosure of detailed information about financial instruments [line items]
Financial assets, at fair value	0
Financial liabilities, at fair value					(493)
Short | Forward contract
Disclosure of detailed information about financial instruments [line items]
Notional amount		R$ 32.0	€ 1.9	$ 241.9
Short | Euro Member Countries, Euro | Forward contract
Disclosure of detailed information about financial instruments [line items]
Financial assets, at fair value	0
Financial liabilities, at fair value					(27)
Short | Colombia, Pesos | Forward contract
Disclosure of detailed information about financial instruments [line items]
Financial assets, at fair value					109
Financial liabilities, at fair value	(3,007)
Short | Brazil, Brazil Real | Forward contract
Disclosure of detailed information about financial instruments [line items]
Financial assets, at fair value	$ 0				$ 1,154

LEASE LIABILITIES - Lease Liabi

LEASE LIABILITIES - Lease Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reconciliation of Changes in Lease Liabilities [Roll Forward]
Values at the beginning of the year, current lease liabilities	$ 8,030
Values at the beginning of the year, non-current lease liabilities	65,798
Values at the beginning of the year, lease liabilities	73,828
Effect of initial recognition under IFRS 16, current lease liabilities	34,848
Effect of initial recognition under IFRS 16, non-current lease liabilities	245,645
Effect of initial recognition under IFRS 16, lease liabilities	280,493
Translation differences, current lease liabilities	2,659
Translation differences, non-current lease liabilities	(7,139)
Translation differences, lease liabilities	(4,480)
Net proceeds, current lease liabilities	1,474
Net proceeds, non-current lease liabilities	24,545
Net proceeds, lease liabilities	26,019
Repayments, lease liabilities	(38,569)	$ (7,565)	$ (4,157)
Interest accrued, lease liabilities	16,755
Interest paid, current lease liabilities	(15,281)
Reclassifications, current lease liabilities	30,630
Reclassifications, non-current lease liabilities	(30,630)
Values at the end of the year, current lease liabilities	40,546	8,030
Values at the end of the year, non-current lease liabilities	298,219	65,798
Values at the end of the year, lease liabilities	$ 338,765	$ 73,828

LEASE LIABILITIES - Narrative (

LEASE LIABILITIES - Narrative (Details)	Jan. 01, 2019
Disclosure of leases [Abstract]
Weighted average lessee's incremental borrowing rate applied to lease liabilities recognised at date of initial application of IFRS 16	4.05%

LEASE LIABILITIES - Schedule of

LEASE LIABILITIES - Schedule of Minimum Lease Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Disclosure of maturity analysis of finance lease payments receivable [line items]
Minimum lease payments	$ 457,727	$ 113,122
Future finance charges	(118,962)	(39,294)
Total Financial lease liabilities	338,765	73,828
Within one year
Disclosure of maturity analysis of finance lease payments receivable [line items]
Minimum lease payments	55,670	8,328
Total Financial lease liabilities	40,546	8,030
Later than one year but not later than five years
Disclosure of maturity analysis of finance lease payments receivable [line items]
Minimum lease payments	197,956	33,312
Total Financial lease liabilities	149,830	27,208
Later than five years
Disclosure of maturity analysis of finance lease payments receivable [line items]
Minimum lease payments	204,101	71,482
Total Financial lease liabilities	$ 148,389	$ 38,590

BORROWINGS (Current and non-cur

BORROWINGS (Current and non-current information on borrowings) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Borrowings [abstract]
Bank borrowings, undiscounted cash flows, non-current	$ 1,639,604	$ 1,648,124
Less: debt issue costs, non-current	(10,712)	(11,023)
Non-current borrowings	1,628,892	1,637,101
Bank borrowings, undiscounted cash flows, current	564,497	404,390
Less: debt issue costs, current	(4,715)	(4,534)
Current borrowings	559,782	399,856
Total Borrowings	$ 2,188,674	$ 2,036,957

BORROWINGS (Maturity of borrowi

BORROWINGS (Maturity of borrowings) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about borrowings [line items]
Borrowings	$ 2,188,674	$ 2,036,957
Fixed Rate
Disclosure of detailed information about borrowings [line items]
Borrowings	165,623	289,883
Floating Rate
Disclosure of detailed information about borrowings [line items]
Borrowings	2,023,051	$ 1,747,074
2020
Disclosure of detailed information about borrowings [line items]
Borrowings	559,782
2020 | Fixed Rate
Disclosure of detailed information about borrowings [line items]
Borrowings	165,623
2020 | Floating Rate
Disclosure of detailed information about borrowings [line items]
Borrowings	394,159
2021
Disclosure of detailed information about borrowings [line items]
Borrowings	308,847
2021 | Fixed Rate
Disclosure of detailed information about borrowings [line items]
Borrowings	0
2021 | Floating Rate
Disclosure of detailed information about borrowings [line items]
Borrowings	308,847
2022 and thereafter
Disclosure of detailed information about borrowings [line items]
Borrowings	1,320,045
2022 and thereafter | Fixed Rate
Disclosure of detailed information about borrowings [line items]
Borrowings	0
2022 and thereafter | Floating Rate
Disclosure of detailed information about borrowings [line items]
Borrowings	$ 1,320,045

BORROWINGS (Weighted-average in

BORROWINGS (Weighted-average interest rate) (Details)	Dec. 31, 2019	Dec. 31, 2018
Weighted average
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	2.94%	3.65%

BORROWINGS (Borrowings by curre

BORROWINGS (Borrowings by currency) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about borrowings [line items]
Borrowings	$ 2,188,674	$ 2,036,957
Floating Rate
Disclosure of detailed information about borrowings [line items]
Borrowings	2,023,051	1,747,074
Fixed Rate
Disclosure of detailed information about borrowings [line items]
Borrowings	165,623	289,883
United States of America, Dollars | Floating Rate
Disclosure of detailed information about borrowings [line items]
Borrowings	1,977,617	1,747,074
United States of America, Dollars | Fixed Rate
Disclosure of detailed information about borrowings [line items]
Borrowings	148,712	262,873
Argentina, Pesos | Floating Rate
Disclosure of detailed information about borrowings [line items]
Borrowings	10	0
Mexico, Pesos | Floating Rate
Disclosure of detailed information about borrowings [line items]
Borrowings	14,789	0
Colombia, Pesos | Floating Rate
Disclosure of detailed information about borrowings [line items]
Borrowings	30,634	0
Colombia, Pesos | Fixed Rate
Disclosure of detailed information about borrowings [line items]
Borrowings	16,912	17,009
Guatemala, Quetzales | Fixed Rate
Disclosure of detailed information about borrowings [line items]
Borrowings	$ 0	$ 10,001

BORROWINGS (Significant borrowi

BORROWINGS (Significant borrowings) (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Jun. 30, 2018
Disclosure of detailed information about borrowings [line items]
Borrowings	$ 2,188,674,000	$ 2,036,957,000
Tenigal Syndicated Loan Due July 2022
Disclosure of detailed information about borrowings [line items]
Original principal amount	200,000,000
Borrowings	75,000,000
Ternium Investments S.à r.l Syndicated Loan Due September 2022
Disclosure of detailed information about borrowings [line items]
Original principal amount	1,500,000,000
Borrowings	400,000,000
Ternium Mexico Syndicated Loan Due June 2023
Disclosure of detailed information about borrowings [line items]
Original principal amount	1,000,000,000		$ 1,000,000,000
Borrowings	875,000,000
Ternium Brazil Syndicated Loan Due August 2024
Disclosure of detailed information about borrowings [line items]
Original principal amount	1,000,000,000
Borrowings	$ 400,000,000

CONTINGENCIES, COMMITMENTS AN_2

CONTINGENCIES, COMMITMENTS AND RESTRICTIONS ON THE DISTRIBUTION OF PROFITS (Tender offer litigation) (Details) - Pending Litigation - Comphania Siderúrgica Nacional vs. Ternium Investments S.à . r.l., Siderar & Confab Industrial S.A.	12 Months Ended
	Dec. 31, 2013R$ / sharesshares
Disclosure of contingent liabilities [line items]
Tender offer, percent	80.00%
Tender offer, price per share | R$ / shares	R$ 28.8
Tender offer, number of shares | shares	182,609,851
Ternium Investments S.à r.l.
Disclosure of contingent liabilities [line items]
Proportion of shares in tender offer	60.60%
Ternium Argentina S.A.
Disclosure of contingent liabilities [line items]
Proportion of shares in tender offer	21.50%

CONTINGENCIES, COMMITMENTS AN_3

CONTINGENCIES, COMMITMENTS AND RESTRICTIONS ON THE DISTRIBUTION OF PROFITS (Shareholder claims, Mexican income tax adjustment & Argentine tax claim) (Details) shares in Millions, $ in Millions, R$ in Billions	Dec. 31, 2019USD ($)	Apr. 14, 2015shares	Sep. 30, 2018USD ($)	Dec. 31, 2016BRL (R$)
Comissão de Valores Mobiliários | USINAS SIDEÚRGICAS DE MINAS GERAIS S.A.
Disclosure of contingent liabilities [line items]
Number of shares exceeding threshold for tender offer requirement (in shares) | shares		5.2
Increase in capital | R$				R$ 1
Domestic Tax Authority | Mexican Tax Authority
Disclosure of contingent liabilities [line items]
Tax contingent liability	$ 59.7
Additional tax contingent liability			$ 27.3

CONTINGENCIES, COMMITMENTS AN_4

CONTINGENCIES, COMMITMENTS AND RESTRICTIONS ON THE DISTRIBUTION OF PROFITS (Commitments) (Details) m³ in Millions	Dec. 31, 2019USD ($)MW	May 25, 2018USD ($)	Apr. 24, 2017MW	Mar. 31, 2008electrical_plant	Dec. 20, 2000electrical_plant	Dec. 31, 2019USD ($)BTUtMWm³	Dec. 31, 2006distributorMW	Dec. 31, 2018USD ($)	Jun. 30, 2018USD ($)
Disclosure of contingent liabilities [line items]
Number of electrical plants terminated | electrical_plant				2
Borrowings	$ 2,188,674,000					$ 2,188,674,000		$ 2,036,957,000
Techgen S.A. de C.V.
Disclosure of contingent liabilities [line items]
Long-term contract for purchase of electric power, term			25 years
Long-term contract for purchase of electric power, electrical demand | MW			699
Percentage of electricity needs supplied			78.00%
Guarantor obligations, outstanding		$ 60,800,000
Guarantor obligations, percentage of amount payable if counterparty terminates agreement		78.00%
Iberdrola Energia Monterey, S.A. de C.V.
Disclosure of contingent liabilities [line items]
Long-term contract for purchase of electric power, term					25 years
Long-term contract for purchase of electric power, electrical demand | MW	51.7					111.2
Percentage of electricity needs supplied						7.00%
Long-term contract for purchase of electric power, credit (per megawatt)						$ 750,000
Long-term contract for purchase of electric power, credit						83,400,000
Long-term contract for purchase of electric power, discount						$ 15,000,000
Short-term contract for purchase of electric power, percentage discount on contract						2.50%
Ternium Mexico S.A. de C.V.
Disclosure of contingent liabilities [line items]
Number of electrical plants | electrical_plant					4
Gas Industrial de Monterrey, S.A. de C.V.
Disclosure of contingent liabilities [line items]
Guarantor obligations, borrowing outstanding	$ 25,000,000					$ 25,000,000
Guarantor obligations, current carrying value	14,000,000					14,000,000
Kinder Morgan Gas
Disclosure of contingent liabilities [line items]
Guarantor obligations, borrowing outstanding	236,000,000					$ 236,000,000
Long-term contract for purchase of natural gas transportation, capacity | BTU						150,000,000,000
Ternium Brasil Ltda.
Disclosure of contingent liabilities [line items]
Long-term contract for purchase of electric power, term							15 years
Long-term contract for purchase of electric power, electrical demand | MW							200
Number of distributors | distributor							24
GE Global Parts and Products GMBH, General Electric International Inc. and Alstom Energia Térmica e Indústria Ltda.
Disclosure of contingent liabilities [line items]
Long-term purchase commitment, amount						$ 157,000,000
Long-term purchase commitment, period for maintenance services of turbines						20 years
Primetals Technologies Brazil Ltda.
Disclosure of contingent liabilities [line items]
Long-term purchase commitment, amount						$ 89,900,000
Air Liquide Brasil Ltda., AirSteel Ltda., White Martins Gases Industriais Ltda., White Martins Steel Ltda. and ThyssenKrupp MinEnergy GmbH
Disclosure of contingent liabilities [line items]
Long-term purchase commitment, amount	307,200,000
Companhia Distribuidora de Gás do Rio de Janeiro
Disclosure of contingent liabilities [line items]
Long-term purchase commitment, minimum percentage of volume required						85.00%
Long-term purchase commitment, amount						$ 33,300,000
Long-term purchase commitment, volume | m³						61.5
Stahllog Solucao Logisticas Ltda.
Disclosure of contingent liabilities [line items]
Long-term purchase commitment, amount	18,200,000
LSI Logistica S.A.
Disclosure of contingent liabilities [line items]
Long-term purchase commitment, amount	18,300,000
Gas Verde S.A.
Disclosure of contingent liabilities [line items]
Long-term purchase commitment, amount	16,500,000
Long-term purchase commitment, volume | m³						46.1
Public utilities inventory, fuel | Air Liquide Argentina S.A.
Disclosure of contingent liabilities [line items]
Long-term purchase commitment, amount						$ 15,800,000
Freight Services
Disclosure of contingent liabilities [line items]
Long-term purchase commitment, minimum quantity required (per month) | t						200,000
Long-term purchase commitment, quantity required | t						1,200,000
Freight Services | Ferrocarril Mexicano, S. A. de C. V.
Disclosure of contingent liabilities [line items]
Long-term purchase commitment, period						5 years
Long-term purchase commitment, period to make investments to improve loading and unloading of gondolas						36 months
Iron Ore, Pellets and Iron Ore Fines | Ternium Argentina S.A.
Disclosure of contingent liabilities [line items]
Long-term purchase commitment, minimum percentage of volume required						80.00%
Long-term purchase commitment, amount						$ 462,400,000
Iron Ore, Pellets and Iron Ore Fines | Vale S.A.
Disclosure of contingent liabilities [line items]
Long-term purchase commitment, total purchased volume | t						8,000,000
Ternium S.A. | Kinder Morgan Gas
Disclosure of contingent liabilities [line items]
Guarantor obligations, borrowing outstanding	115,000,000					$ 115,000,000
Guarantor obligations, percentage						48.00%
Techgen S.A. de C.V. | Syndicated Loan
Disclosure of contingent liabilities [line items]
Borrowings	640,000,000					$ 640,000,000
Borrowings outstanding	45,000,000					45,000,000
Techgen S.A. de C.V. | Syndicated Loan | Financial Guarantee
Disclosure of contingent liabilities [line items]
Guarantor obligations, outstanding	21,000,000					$ 21,000,000
Techgen S.A. de C.V. | Syndicated Loan | Financial Guarantee
Disclosure of contingent liabilities [line items]
Guarantor obligations, percentage						48.00%
Scenario one | Ternium Argentina S.A.
Disclosure of contingent liabilities [line items]
Long-term purchase commitment, minimum percentage of volume required						80.00%
Long-term purchase commitment, percentage of penalty						7.00%
Scenario one | Bottom of range | Ternium Argentina S.A.
Disclosure of contingent liabilities [line items]
Long-term purchase commitment, percentage of total volume actually operated						70.00%
Scenario one | Top of range | Ternium Argentina S.A.
Disclosure of contingent liabilities [line items]
Long-term purchase commitment, percentage of total volume actually operated						75.00%
Scenario two | Ternium Argentina S.A.
Disclosure of contingent liabilities [line items]
Long-term purchase commitment, minimum percentage of volume required						80.00%
Long-term purchase commitment, percentage of penalty						15.00%
Scenario two | Bottom of range | Ternium Argentina S.A.
Disclosure of contingent liabilities [line items]
Long-term purchase commitment, percentage of total volume actually operated						70.00%
Forecast | Natural Gas | Ternium Argentina S.A.
Disclosure of contingent liabilities [line items]
Long-term purchase commitment, amount						$ 35,900,000
Ternium Mexico Syndicated Loan Due June 2023
Disclosure of contingent liabilities [line items]
Original principal amount	$ 1,000,000,000					$ 1,000,000,000			$ 1,000,000,000
Borrowings, net senior leverage ratio	350.00%					350.00%
Borrowings	$ 875,000,000					$ 875,000,000

RELATED PARTY TRANSACTIONS (Nar

RELATED PARTY TRANSACTIONS (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure of transactions between related parties [line items]
Key management personnel compensation	$ 26,942	$ 16,205
Key management personnel compensation (in shares)	1,075,500
Key management personnel compensation, share-based payment	$ 3,546	$ 2,851
Techint Holdings S.à.r.l | Entities with joint control or significant influence over entity
Disclosure of transactions between related parties [line items]
Percentage of Company shares owned	62.02%
Tenaris Investments S.à.r.l. | Entities with joint control or significant influence over entity
Disclosure of transactions between related parties [line items]
Percentage of Company shares owned	11.46%

RELATED PARTY TRANSACTIONS (Tra

RELATED PARTY TRANSACTIONS (Transactions between related parties) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Related party transactions [abstract]
Revenue from sale of goods and services, related party transactions	$ 593,729	$ 917,218	$ 619,082
Purchases of goods and services, related party transactions	658,343	634,912	587,397
Income, related party transactions	8,533	9,330	7,611
Dividends received	3,111	8,837	3,360
Other income (expense), related party transactions	1,915	1,504	2,970
Outstanding balances for related party transactions [abstract]
Amounts receivable, related party transactions	102,349	157,135
Non-consolidated parties
Related party transactions [abstract]
Revenue from sale of goods, related party transactions	515,123	774,526	453,551
Revenue from rendering of services, related party transactions	171	176	177
Purchases of goods, related party transactions	408,309	483,182	404,891
Services received, related party transactions	14,563	10,266	13,126
Income, related party transactions	9,478	9,330	7,611
Dividends received	3,111	8,837	3,360
Other income (expense), related party transactions	929	1,012	2,723
Outstanding balances for related party transactions [abstract]
Amounts receivable, related party transactions	167,312	201,693
Advances to suppliers	8,017	2,812
Amounts payable, related party transactions	(44,784)	(37,384)
Other related parties
Related party transactions [abstract]
Revenue from sale of goods, related party transactions	77,375	141,230	164,694
Revenue from rendering of services, related party transactions	1,060	1,286	660
Purchases of goods, related party transactions	71,324	50,928	57,941
Services received, related party transactions	155,289	90,536	111,439
Purchases of goods and services received, related party transactions	8,859	0	0
Income, related party transactions	(945)	0	0
Other income (expense), related party transactions	986	492	$ 247
Outstanding balances for related party transactions [abstract]
Amounts receivable, related party transactions	5,027	5,975
Advances to suppliers	15,936	7,534
Amounts payable, related party transactions	(41,849)	(23,495)
Lease liabilities with other related parties	$ (7,310)	$ 0

OTHER REQUIRED DISCLOSURES (Sta

OTHER REQUIRED DISCLOSURES (Statement of comprehensive income) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure of analysis of other comprehensive income by item [line items]
Other comprehensive income, net of tax, change in value of foreign currency basis spreads	$ (3,707,019)	$ (3,257,038)
(Decrease) / Increase on change in value of currency translation adjustment	(61,925)	(449,981)
Reclassification of currency translation adjustment to income statement	0	0
Other comprehensive income, net of tax, change in value of foreign currency basis spreads	(3,768,944)	(3,707,019)
Cash flow hedges
Disclosure of analysis of other comprehensive income by item [line items]
Other comprehensive income, before tax, cash flow hedges	679	810
Gains (losses) on cash flow hedges, before tax	(475)	(14)
Reclassification adjustments on cash flow hedges, before tax	(276)	(117)
Other comprehensive income, before tax, cash flow hedges	(72)	679
Accumulated other comprehensive income, tax	(202)	(129)
Gains (losses) on cash flow hedges, tax	142	(108)
Reclassification adjustments on exchange differences on translation, tax	83	35
Accumulated other comprehensive income, tax	23	(202)
Other comprehensive income, net of tax, cash flow hedges	477	681
Gains (losses) on cash flow hedges, net of tax	(333)	(122)
Reclassification adjustments on cash flow hedges, net of tax	(193)	(82)
Other comprehensive income, net of tax, cash flow hedges	$ (49)	$ 477

OTHER REQUIRED DISCLOSURES (S_2

OTHER REQUIRED DISCLOSURES (Statement of cash flows) (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of additional information [Abstract]
Inventories		$ 510,972	$ (186,409)	$ (540,162)
Receivables and others		6,175	8,652	(108,257)
Trade receivables		161,454	(123,388)	(303,114)
Other liabilities		(95,131)	17,138	40,230
Trade payables		(10,786)	55,430	46,333
Increase (decrease) in working capital	[1]	572,684	(228,577)	(864,970)
Tax accrued (Note 11)		196,519	369,435	336,882
Taxes paid		(405,324)	(523,801)	(610,325)
Income tax accruals less payments, total		(208,805)	(154,366)	(273,443)
Interest accrued (Note 10 and 23)		104,855	131,172	114,583
Interest paid		(101,450)	(144,186)	(95,099)
Interest accruals less payments, total		$ 3,405	$ (13,014)	$ 19,484
[1]	The working capital is impacted by non-cash movement of $(6.3) million as of December 31, 2019 $(74.5) million and $(70.0) million as of December 31, 2018 and 2017, respectively) due to the variations in the exchange rates used by subsidiaries with functional currencies different from the U.S. dollar.

OTHER REQUIRED DISCLOSURES (Fin

OTHER REQUIRED DISCLOSURES (Financial debt reconciliation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Liabilities arising from financing activities, beginning balance	$ (2,110,785)	$ (3,298,942)
Cash flows	(11,963)	1,098,408
Reclassifications	0	0
Effect of initial recognition under IFRS 16	(280,493)
Acquisitions - finance leases	(26,019)
Foreign exchange adjustments	(88,199)	(169,191)
Other non cash movements	(9,980)	258,940
Liabilities arising from financing activities, ending balance	(2,527,439)	(2,110,785)
Finance lease liabilities
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Liabilities arising from financing activities, beginning balance	(73,828)	(77,035)
Cash flows	53,850	7,565
Reclassifications	0	0
Effect of initial recognition under IFRS 16	(280,493)
Acquisitions - finance leases	(26,019)
Foreign exchange adjustments	(8,834)	(47,390)
Other non cash movements	(3,441)	43,032
Liabilities arising from financing activities, ending balance	(338,765)	(73,828)
Short term borrowings
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Liabilities arising from financing activities, beginning balance	(399,856)	(1,505,570)
Cash flows	231,967	1,492,568
Reclassifications	(306,262)	(459,520)
Effect of initial recognition under IFRS 16	0
Acquisitions - finance leases	0
Foreign exchange adjustments	(79,365)	(121,801)
Other non cash movements	(6,266)	194,467
Liabilities arising from financing activities, ending balance	(559,782)	(399,856)
Long term borrowings
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Liabilities arising from financing activities, beginning balance	(1,637,101)	(1,716,337)
Cash flows	(297,780)	(401,725)
Reclassifications	306,262	459,520
Effect of initial recognition under IFRS 16	0
Acquisitions - finance leases	0
Foreign exchange adjustments	0	0
Other non cash movements	(273)	21,441
Liabilities arising from financing activities, ending balance	$ (1,628,892)	$ (1,637,101)

RECENTLY ISSUED ACCOUNTING PR_3

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS - Adoption of IFRS 16 (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Property, plant and equipment, net	$ 6,539,581	$ 6,098,102	$ 5,817,609	$ 5,349,753
Lease liabilities, current	40,546	42,878	8,030
Lease liabilities, non-current	298,219	311,443	65,798
Initial recognition of right-of-use assets	$ 306,458	49,370	$ 49,370
IFRS 16
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Lease liabilities, current		34,848
Lease liabilities, non-current		245,645
Initial recognition of right-of-use assets		$ 280,493

RECENTLY ISSUED ACCOUNTING PR_4

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS - Narrative (Details)	Jan. 01, 2019
Disclosure of significant accounting policies [Abstract]
Weighted average lessee's incremental borrowing rate applied to lease liabilities recognised at date of initial application of IFRS 16	4.05%

FINANCIAL RISK MANAGEMENT (Assu

FINANCIAL RISK MANAGEMENT (Assumed financial exposure to currency risk) (Details) - Dec. 31, 2019 - Currency risk $ in Millions, $ in Millions	USD ($)	ARS ($)
United States of America, Dollars
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	$ (4)
United States of America, Dollars | United States of America, Dollars
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	0
United States of America, Dollars | Euro Member Countries, Euro
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(85)
United States of America, Dollars | Argentina, Pesos
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(7)
United States of America, Dollars | Mexico, Pesos
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(561)
United States of America, Dollars | Brazil, Brazil Real
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	(184)
United States of America, Dollars | Colombia, Pesos
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure associated with instruments sharing characteristic	$ (25)
Argentina, Pesos
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure associated with instruments sharing characteristic		$ 0
Argentina, Pesos | United States of America, Dollars
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure associated with instruments sharing characteristic		(56)
Argentina, Pesos | Euro Member Countries, Euro
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure associated with instruments sharing characteristic		(3)
Argentina, Pesos | Argentina, Pesos
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure associated with instruments sharing characteristic		0
Argentina, Pesos | Mexico, Pesos
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure associated with instruments sharing characteristic		0
Argentina, Pesos | Brazil, Brazil Real
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure associated with instruments sharing characteristic		(2)
Argentina, Pesos | Colombia, Pesos
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure associated with instruments sharing characteristic		$ 0

FINANCIAL RISK MANAGEMENT (Mark

FINANCIAL RISK MANAGEMENT (Market risk narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure of nature and extent of risks arising from financial instruments [line items]
Borrowings	$ 2,188,674	$ 2,036,957
Currency risk
Disclosure of nature and extent of risks arising from financial instruments [line items]
Reasonably possible change in risk variable, percent	1.00%
Reasonably possible change in risk variable, impact on pre-tax earnings	$ 7,100	5,000
Net investments exposed to volatility in exchange rate, amount	1,900,000
Reasonably possible change in risk variable, impact on equity	$ 18,500	17,700
Interest rate risk
Disclosure of nature and extent of risks arising from financial instruments [line items]
Reasonably possible change in risk variable, percent	1.00%
Reasonably possible change in risk variable, impact on pre-tax earnings	$ 22,400	$ 26,800
Argentina, Pesos | Currency risk
Disclosure of nature and extent of risks arising from financial instruments [line items]
Devaluation, percent	37.10%	50.50%
Inflation, percent	53.80%	47.60%
Change in risk variable, impact on comprehensive income	$ (43,000)	$ (37,000)
Change in risk variable, impact on profit (loss)	(111,000)	(184,000)
Effect of inflation adjustment	$ 118,000	191,000
Reasonably possible change in risk variable, percent	1.00%
Reasonably possible change in risk variable, impact on pre-tax earnings	$ (600)	(2,100)
Mexico, Pesos | Currency risk
Disclosure of nature and extent of risks arising from financial instruments [line items]
Reasonably possible change in risk variable, percent	1.00%
Reasonably possible change in risk variable, impact on pre-tax earnings	$ 5,600	5,800
Colombia, Pesos | Currency risk
Disclosure of nature and extent of risks arising from financial instruments [line items]
Reasonably possible change in risk variable, percent	1.00%
Reasonably possible change in risk variable, impact on pre-tax earnings	$ 300	(200)
Brazil, Brazil Real | Currency risk
Disclosure of nature and extent of risks arising from financial instruments [line items]
Reasonably possible change in risk variable, percent	1.00%
Reasonably possible change in risk variable, impact on pre-tax earnings	$ 1,800	$ 1,500
Weighted average
Disclosure of nature and extent of risks arising from financial instruments [line items]
Borrowings, interest rate	2.94%	3.65%
Floating Rate
Disclosure of nature and extent of risks arising from financial instruments [line items]
Borrowings	$ 2,023,051	$ 1,747,074
Floating Rate | Interest rate risk
Disclosure of nature and extent of risks arising from financial instruments [line items]
Borrowings	$ 2,023,000	$ 1,747,000
Borrowings, percentage of total borrowings	92.40%	85.80%
Floating Rate | Argentina, Pesos
Disclosure of nature and extent of risks arising from financial instruments [line items]
Borrowings	$ 10	$ 0
Floating Rate | Mexico, Pesos
Disclosure of nature and extent of risks arising from financial instruments [line items]
Borrowings	14,789	0
Floating Rate | Colombia, Pesos
Disclosure of nature and extent of risks arising from financial instruments [line items]
Borrowings	$ 30,634	$ 0

FINANCIAL RISK MANAGEMENT (Cred

FINANCIAL RISK MANAGEMENT (Credit risk narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Disclosure of credit risk exposure [line items]
Trade receivables	$ 950,569	$ 1,133,236
Credit risk
Disclosure of credit risk exposure [line items]
Financial assets, investments assessed as investment grade, percent	92.60%	82.60%
Trade receivables	$ 950,600	$ 1,133,200
Allowance for doubtful account	13,000	14,300
Financing Receivables, Equal to Greater than 1 Day Past Due | Credit risk
Disclosure of credit risk exposure [line items]
Trade receivables	86,300	112,500
Performing Financial Instruments | Credit risk
Disclosure of credit risk exposure [line items]
Trade receivables	877,200	1,035,000
Performance Guarantee | Credit risk
Disclosure of credit risk exposure [line items]
Trade receivables	3,400	23,300
Credit Insurance | Credit risk
Disclosure of credit risk exposure [line items]
Trade receivables	469,300	506,800
Guarantee Type, Other | Credit risk
Disclosure of credit risk exposure [line items]
Trade receivables	$ 16,400	$ 18,600

FINANCIAL RISK MANAGEMENT (As_2

FINANCIAL RISK MANAGEMENT (Assumed financial exposure to credit risk) (Details) - Credit risk $ in Millions	Dec. 31, 2019USD ($)
Disclosure of credit risk exposure [line items]
Trade and other receivables	$ 1,623
United States of America, Dollars
Disclosure of credit risk exposure [line items]
Trade and other receivables	965
Euro Member Countries, Euro
Disclosure of credit risk exposure [line items]
Trade and other receivables	36
Argentina, Pesos
Disclosure of credit risk exposure [line items]
Trade and other receivables	14
Mexico, Pesos
Disclosure of credit risk exposure [line items]
Trade and other receivables	150
Brazil, Brazil Real
Disclosure of credit risk exposure [line items]
Trade and other receivables	387
Colombia, Pesos
Disclosure of credit risk exposure [line items]
Trade and other receivables	69
Other currencies
Disclosure of credit risk exposure [line items]
Trade and other receivables	$ 2

FINANCIAL RISK MANAGEMENT (Liqu

FINANCIAL RISK MANAGEMENT (Liquidity risk) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items]
Lease liabilities	$ 457,727	$ 113,122
Borrowings less cash and cash equivalents and other current and non-current investments	1,453,400
2020
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items]
Lease liabilities	55,670	8,328
Thereafter
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items]
Lease liabilities	204,101	$ 71,482
Liquidity risk | 2020
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items]
Borrowings	560,000
Interest to be accrued	60,000
Trade payables and other liabilities	867,000
Lease liabilities	41,000
Total	1,528,000
Liquidity risk | 2021
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items]
Borrowings	309,000
Interest to be accrued	49,000
Trade payables and other liabilities	9,000
Lease liabilities	42,000
Total	409,000
Liquidity risk | 2022
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items]
Borrowings	660,000
Interest to be accrued	33,000
Trade payables and other liabilities	9,000
Lease liabilities	41,000
Total	743,000
Liquidity risk | 2023
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items]
Borrowings	137,000
Interest to be accrued	19,000
Trade payables and other liabilities	5,000
Lease liabilities	40,000
Total	201,000
Liquidity risk | Thereafter
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items]
Borrowings	523,000
Interest to be accrued	7,000
Trade payables and other liabilities	30,000
Lease liabilities	175,000
Total	$ 735,000

FINANCIAL RISK MANAGEMENT (Capi

FINANCIAL RISK MANAGEMENT (Capital risk narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of nature and extent of risks arising from financial instruments [line items]
Debt to capital ratio	22.00%	21.00%
Reserve of cash flow hedges, net of tax	$ (0.1)	$ 0.5	$ 0.6
Cash flow hedges
Disclosure of nature and extent of risks arising from financial instruments [line items]
Reserve of cash flow hedges, net of tax	$ (0.1)

FINANCIAL RISK MANAGEMENT (Fina

FINANCIAL RISK MANAGEMENT (Financial assets and liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2019		Dec. 31, 2018		Dec. 31, 2017	[1]	Dec. 31, 2016
Financial assets [abstract]
Receivables	$ 406,370		$ 449,077
Derivative financial instruments	1,196		1,588
Trade receivables	950,569		1,133,236
Other investments	215,273		51,473
Cash and cash equivalents	519,965	[1]	250,541	[1]	$ 337,779		$ 183,463
Total Assets	2,093,373		1,885,915
Financial liabilities [abstract]
Other liabilities	88,403		105,659
Trade payables	836,204		864,827
Derivative financial liabilities	3,024		12,981
Finance lease liabilities	338,765		73,828
Borrowings	2,188,674		2,036,957
Total Liabilities	3,455,070		3,094,252
Liabilities at fair value through profit or loss
Financial liabilities [abstract]
Other liabilities	0		0
Trade payables	0		0
Derivative financial liabilities	3,024		12,981
Finance lease liabilities	0		0
Borrowings	0		0
Total Liabilities	3,024		12,981
Amortized cost
Financial liabilities [abstract]
Other liabilities	88,403		105,659
Trade payables	836,204		864,827
Derivative financial liabilities	0		0
Finance lease liabilities	338,765		73,828
Borrowings	2,188,674		2,036,957
Total Liabilities	3,452,046		3,081,271
Amortized cost
Financial assets [abstract]
Receivables	406,370		449,077
Derivative financial instruments	0		0
Trade receivables	950,569		1,133,236
Other investments	176,470		14,843
Cash and cash equivalents	320,088		110,086
Total Assets	1,853,497		1,707,242
Assets at fair value through profit or loss
Financial assets [abstract]
Receivables	0		0
Derivative financial instruments	1,196		1,588
Trade receivables	0		0
Other investments	0		0
Cash and cash equivalents	199,877		140,455
Total Assets	201,073		142,043
Assets at fair value through OCI
Financial assets [abstract]
Receivables	0		0
Derivative financial instruments	0		0
Trade receivables	0		0
Other investments	38,803		36,630
Cash and cash equivalents	0		0
Total Assets	$ 38,803		$ 36,630
[1]	It includes restricted cash of $69, $2,216 and $50 as of December 31, 2019, 2018 and 2017, respectively. In addition, the Company had other investments with a maturity of more than three months for $212,271, $44,529 and $135,864 as of December 31, 2019, 2018 and 2017, respectively.

FINANCIAL RISK MANAGEMENT (Fi_2

FINANCIAL RISK MANAGEMENT (Financial assets and liabilities at fair value) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Disclosure of fair value measurement of assets [line items]
Financial assets, at fair value	$ 239,876	$ 178,673
Financial liabilities, at fair value	3,024	12,981
Level 1
Disclosure of fair value measurement of assets [line items]
Financial assets, at fair value	238,680	177,085
Financial liabilities, at fair value	0	0
Level 2
Disclosure of fair value measurement of assets [line items]
Financial assets, at fair value	1,196	1,588
Financial liabilities, at fair value	3,024	12,981
Derivatives
Disclosure of fair value measurement of assets [line items]
Financial liabilities, at fair value	3,024	12,981
Derivatives | Level 1
Disclosure of fair value measurement of assets [line items]
Financial liabilities, at fair value	0	0
Derivatives | Level 2
Disclosure of fair value measurement of assets [line items]
Financial liabilities, at fair value	3,024	12,981
Cash and cash equivalents
Disclosure of fair value measurement of assets [line items]
Financial assets, at fair value	199,877	140,455
Cash and cash equivalents | Level 1
Disclosure of fair value measurement of assets [line items]
Financial assets, at fair value	199,877	140,455
Cash and cash equivalents | Level 2
Disclosure of fair value measurement of assets [line items]
Financial assets, at fair value	0	0
Other investments
Disclosure of fair value measurement of assets [line items]
Financial assets, at fair value	38,803	36,630
Other investments | Level 1
Disclosure of fair value measurement of assets [line items]
Financial assets, at fair value	38,803	36,630
Other investments | Level 2
Disclosure of fair value measurement of assets [line items]
Financial assets, at fair value	0	0
Derivatives
Disclosure of fair value measurement of assets [line items]
Financial assets, at fair value	1,196	1,588
Derivatives | Level 1
Disclosure of fair value measurement of assets [line items]
Financial assets, at fair value	0	0
Derivatives | Level 2
Disclosure of fair value measurement of assets [line items]
Financial assets, at fair value	$ 1,196	$ 1,588

Uncategorized Items - tx-201912

Label	Element	Value
Property, Plant And Equipment And Right Of Use Assets	tx_PropertyPlantAndEquipmentAndRightOfUseAssets	$ 5,817,609,000
IFRS 9 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption1	tx_CumulativeEffectofNewAccountingPrincipleinPeriodofAdoption1	507,000
IAS 29 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption1	tx_CumulativeEffectofNewAccountingPrincipleinPeriodofAdoption1	690,326,000
Issued capital [member]
Equity	ifrs-full_Equity	2,004,743,000	[1],[2]
Reserve of exchange differences on translation [member]
Equity	ifrs-full_Equity	(2,403,664,000)	[1]
Issued capital discount [Member]
Equity	ifrs-full_Equity	(2,324,866,000)	[1],[3]
Equity attributable to owners of parent [member]
Equity	ifrs-full_Equity	5,432,229,000	[1]
Equity attributable to owners of parent [member] | IFRS 9 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption1	tx_CumulativeEffectofNewAccountingPrincipleinPeriodofAdoption1	303,000	[1]
Equity attributable to owners of parent [member] | IAS 29 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption1	tx_CumulativeEffectofNewAccountingPrincipleinPeriodofAdoption1	421,502,000	[1]
Treasury shares [member]
Equity	ifrs-full_Equity	(150,000,000)	[1],[2]
Initial public offering expenses [Member]
Equity	ifrs-full_Equity	(23,295,000)	[1]
Other reserves [member]
Equity	ifrs-full_Equity	1,416,571,000	[1],[4]
Other reserves [member] | IFRS 9 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption1	tx_CumulativeEffectofNewAccountingPrincipleinPeriodofAdoption1	450,000	[1],[4]
Retained earnings [member]
Equity	ifrs-full_Equity	6,912,740,000	[1]
Retained earnings [member] | IFRS 9 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption1	tx_CumulativeEffectofNewAccountingPrincipleinPeriodofAdoption1	(147,000)	[1]
Retained earnings [member] | IAS 29 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption1	tx_CumulativeEffectofNewAccountingPrincipleinPeriodofAdoption1	421,502,000	[1]
Non-controlling interests [member]
Equity	ifrs-full_Equity	1,111,375,000
Non-controlling interests [member] | IFRS 9 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption1	tx_CumulativeEffectofNewAccountingPrincipleinPeriodofAdoption1	204,000
Non-controlling interests [member] | IAS 29 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption1	tx_CumulativeEffectofNewAccountingPrincipleinPeriodofAdoption1	268,824,000
Land [member]
Property, plant and equipment	ifrs-full_PropertyPlantAndEquipment	587,174,000
Buildings and improvements [Member]
Property, plant and equipment	ifrs-full_PropertyPlantAndEquipment	1,782,198,000
Vehicle, furniture and fixtures [Member]
Property, plant and equipment	ifrs-full_PropertyPlantAndEquipment	47,388,000
Construction in progress [member]
Property, plant and equipment	ifrs-full_PropertyPlantAndEquipment	617,950,000
Spare parts [Member]
Property, plant and equipment	ifrs-full_PropertyPlantAndEquipment	110,945,000
Machinery [member]
Property, plant and equipment	ifrs-full_PropertyPlantAndEquipment	2,622,584,000
Accumulated depreciation and amortisation [member]
Property, Plant And Equipment And Right Of Use Assets	tx_PropertyPlantAndEquipmentAndRightOfUseAssets	(5,883,623,000)
Right-of-use assets	ifrs-full_RightofuseAssets	(5,918,000)
Accumulated depreciation and amortisation [member] | Land [member]
Property, plant and equipment	ifrs-full_PropertyPlantAndEquipment	0
Accumulated depreciation and amortisation [member] | Buildings and improvements [Member]
Property, plant and equipment	ifrs-full_PropertyPlantAndEquipment	(1,520,976,000)
Accumulated depreciation and amortisation [member] | Vehicle, furniture and fixtures [Member]
Property, plant and equipment	ifrs-full_PropertyPlantAndEquipment	(217,394,000)
Accumulated depreciation and amortisation [member] | Construction in progress [member]
Property, plant and equipment	ifrs-full_PropertyPlantAndEquipment	0
Accumulated depreciation and amortisation [member] | Spare parts [Member]
Property, plant and equipment	ifrs-full_PropertyPlantAndEquipment	(13,275,000)
Accumulated depreciation and amortisation [member] | Machinery [member]
Property, plant and equipment	ifrs-full_PropertyPlantAndEquipment	(4,126,060,000)
Gross carrying amount [member]
Property, Plant And Equipment And Right Of Use Assets	tx_PropertyPlantAndEquipmentAndRightOfUseAssets	11,701,232,000
Right-of-use assets	ifrs-full_RightofuseAssets	55,288,000
Gross carrying amount [member] | Land [member]
Property, plant and equipment	ifrs-full_PropertyPlantAndEquipment	587,174,000
Gross carrying amount [member] | Buildings and improvements [Member]
Property, plant and equipment	ifrs-full_PropertyPlantAndEquipment	3,303,174,000
Gross carrying amount [member] | Vehicle, furniture and fixtures [Member]
Property, plant and equipment	ifrs-full_PropertyPlantAndEquipment	264,782,000
Gross carrying amount [member] | Construction in progress [member]
Property, plant and equipment	ifrs-full_PropertyPlantAndEquipment	617,950,000
Gross carrying amount [member] | Spare parts [Member]
Property, plant and equipment	ifrs-full_PropertyPlantAndEquipment	124,220,000
Gross carrying amount [member] | Machinery [member]
Property, plant and equipment	ifrs-full_PropertyPlantAndEquipment	$ 6,748,644,000
[1]	Shareholders’ equity is determined in accordance with accounting principles generally accepted in Luxembourg.
[2]	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, 2018, there were 2,004,743,442 shares issued. All issued shares are fully paid. Also, as of December 31, 2018, the Company held 41,666,666 shares as treasury shares.
[3]	Represents the difference between book value of non-monetary contributions received from shareholders under Luxembourg GAAP and IFRS.
[4]	Include mainly legal reserve under Luxembourg law for $200.5 million, undistributable reserves under Luxembourg law for $1.4 billion, hedge accounting reserve, net of tax effect, for $0.5 million and reserves related to the acquisition of non-controlling interest in subsidiaries for $(88.5) million.