Grupo Simec, S.A.B. de C.V. (SIM) 20-F 1 May 23 2022 FY Annual report (foreign) Financial data

Document And Entity Information

Document And Entity Information	12 Months Ended
	Dec. 31, 2022 shares
Document Information Line Items
Entity Registrant Name	GRUPO SIMEC, S.A.B. de C.V.
Trading Symbol	SIM
Document Type	20-F
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding	462,135,888
Amendment Flag	false
Entity Central Index Key	0000887153
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Emerging Growth Company	false
Entity Shell Company	false
ICFR Auditor Attestation Flag	true
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	1-11176
Entity Incorporation, State or Country Code	2P
Entity Address, Address Line One	Colonia La Nogalera
Entity Address, Address Line Two	Guadalajara
Entity Address, City or Town	Jalisco
Entity Address, Country	MX
Entity Address, Postal Zip Code	44440
Title of 12(b) Security	American Depositary Shares (each representing one Series B share) Series B Common Stock
Security Exchange Name	NYSE
Entity Interactive Data Current	Yes
Document Accounting Standard	International Financial Reporting Standards
Auditor Name	Marcelo de los Santos y Cía., S.C.
Auditor Location	San Luis Potosí, S.L.P., México
Auditor Firm ID	3281
Business Contact
Document Information Line Items
Entity Address, Address Line One	Calzada Lázaro Cárdenas 601 Colonia La Nogalera
Entity Address, Address Line Two	Guadalajara
Entity Address, City or Town	Jalisco
Entity Address, Country	MX
Entity Address, Postal Zip Code	44440
Contact Personnel Name	Mario Moreno Cortez
City Area Code	011-52
Local Phone Number	33 3770-6700
Contact Personnel Email Address	e-mail mmoreno@gruposimec.com.mx

Consolidated Statements of Fina

Consolidated Statements of Financial Position - MXN ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 21,546,386	$ 15,130,192
Trade receivables, net	6,633,415	6,418,157
Related parties’ receivables	104,803	70,232
Recoverable taxes	404,922	454,758
Other receivables, net	563,590	443,140
Prepaid expenses	1,479,560	1,505,893
Inventory	12,791,311	11,748,113
Total current assets	43,523,987	35,770,485
Non-current related parties’ receivables	648,281	648,281
Non-current loans to related parties	1,105,063	1,070,158
Non-current inventory, net	1,488,819	1,528,330
Property, plant and equipment, net	16,782,893	16,012,749
Investments in financial instruments	1,758,605
Intangible assets and other non-current assets, net	2,325,255	2,312,569
Total assets	67,632,903	57,342,572
Current liabilities:
Short-term debt	5,847	6,196
Accounts payable trade	9,410,419	6,910,451
Related parties payable	2,692,456	312,913
Other accrued liabilities	697,631	1,060,864
Payable tax	941,294	560,965
Income tax	1,405,994	2,210,535
Total current liabilities	15,153,641	11,061,924
Non-current liabilities:
Employee benefits	169,375	162,843
Deferred income tax	4,223,149	4,105,124
Other liabilities	92,362	212,613
Total Non-current liabilities	4,484,886	4,480,580
Total liabilities	19,638,527	15,542,504
Contingencies and Commitments
Stockholders’ equity:
Capital stock	2,832,268	2,832,268
Additional paid-in capital	4,575,233	4,575,233
Retained earnings	38,101,948	30,239,277
Repurchase of own capital stock reserve	2,733,722	2,823,851
Accumulated Other comprehensive income (loss), net	(286,442)	1,288,278
Total controlling interest	47,956,729	41,758,907
Non-controlling interest	37,647	41,161
Total stockholders’ equity	47,994,376	41,800,068
Total liabilities and stockholders’ equity	$ 67,632,903	$ 57,342,572

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - MXN ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net sales	$ 54,159,247	$ 55,620,356	$ 35,869,314
Cost of sales	(39,683,861)	(39,968,186)	(29,211,724)
Gross profit	14,475,386	15,652,170	6,657,590
Administrative expenses	(2,456,700)	(2,042,642)	(2,019,328)
Other income (expense), net	71,845	(77,406)	546,749
Interest income and dividends	445,879	65,948	107,826
Interest expense	(56,352)	(87,445)	(53,746)
Loss on financial instruments	(778,649)
Foreign exchange loss, net	(540,828)	325,011	(363,164)
Income before income taxes	11,160,581	13,835,636	4,875,927
Income taxes	(3,299,522)	(4,389,769)	(2,077,844)
Net income for the year	7,861,059	9,445,867	2,798,083
Comprehensive (loss) for the year:
Translation effects of foreign subsidiaries	(1,259,355)	(589,961)	(357,217)
Other stock instruments	(317,267)
Total other comprehensive (loss) for the year, net of income taxes	(1,576,622)	(589,961)	(357,217)
Comprehensive income (loss) for the year, net of tax	6,284,437	8,855,906	2,440,866
Net income attributable to:
Controlling interest	7,862,671	9,444,208	2,798,188
Non-controlling interest	(1,612)	1,659	(105)
Net income for the year	7,861,059	9,445,867	2,798,083
Comprehensive income (loss) attributable to:
Controlling interest	6,287,951	8,850,755	2,429,656
Non-controlling interest	(3,514)	5,151	11,210
Comprehensive income for the year	$ 6,284,437	$ 8,855,906	$ 2,440,866
Income per share:
Weighted average shares outstanding (in Shares)	462,375	462,810	463,483
Income per share (controlling interest (in Pesos per share)	$ 17	$ 20.41	$ 6.04

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - MXN ($) $ in Thousands	Capital Stock	Additional paid-in capital	Retained earnings	Repurchase of own capital stock reserve	Accumulated Other comprehensive income (loss), net (Note 19)	Total controlling interest	Non-controlling Interest	Total
Balance at Dec. 31, 2019	$ 2,832,268	$ 4,575,233	$ 19,986,881	$ 2,940,332	$ 2,250,263	$ 32,584,977	$ 24,800	$ 32,609,777
Repurchase of own capital stock, net				(41,984)		(41,984)		(41,984)
Dividends paid			(1,990,000)			(1,990,000)		(1,990,000)
Comprehensive income (loss)			2,798,188		(368,532)	2,429,656	11,210	2,440,866
Balance at Dec. 31, 2020	2,832,268	4,575,233	20,795,069	2,898,348	1,881,731	32,982,649	36,010	33,018,659
Repurchase of own capital stock, net				(74,497)		(74,497)		(74,497)
Comprehensive income (loss)			9,444,208		(593,453)	8,850,755	5,151	8,855,906
Balance at Dec. 31, 2021	2,832,268	4,575,233	30,239,277	2,823,851	1,288,278	41,758,907	41,161	41,800,068
Repurchase of own capital stock, net				(90,129)		(90,129)		(90,129)
Comprehensive income (loss)			7,862,671		(1,574,720)	6,287,951	(3,514)	6,284,437
Balance at Dec. 31, 2022	$ 2,832,268	$ 4,575,233	$ 38,101,948	$ 2,733,722	$ (286,442)	$ 47,956,729	$ 37,647	$ 47,994,376

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - MXN ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating activities:
Net income for the year	$ 7,861,059	$ 9,445,867	$ 2,798,083
Adjustments for:
Depreciation and amortization	1,116,872	1,175,108	1,452,271
Employee benefits	6,532	979	12,072
Interest income from investing activities	(445,879)	(65,948)	(107,826)
Loss in financial instruments	778,649
Interest expense from financing activities	56,352	87,445	53,746
Income tax	3,299,522	4,389,769	2,077,844
Total Adjustments	12,673,107	15,033,220	6,286,190
Changes in operating assets and liabilities:
(Increase) in Trade receivables	(440,424)	(1,807,289)	(795,682)
(Increase) / decrease in Related parties receivables	(69,476)	(78,941)	98,874
(Increase) in Inventory	(1,541,781)	(2,715,001)	(777,419)
(Increase) in Other receivables, recoverable taxes and prepaid expenses	(204,519)	(31,192)	(1,727,200)
Increase in Accounts payable trade	2,375,610	836,406	1,066,393
(Decrease) in Related parties payables	(8,453)	(38,598)	(113,155)
(Decrease) in Accounts payable other and accrued liabilities and taxes other than income taxes	(3,834,758)	(2,811,273)	(404,126)
Net cash flows provided by operating activities	8,949,306	8,387,332	3,633,875
Investing activities:
Acquisition of property, plant and equipment	(1,696,485)	(1,066,422)	(951,205)
Decrease (increase) in other non-current assets	(32,758)	(9,199)	10,708
Acquisition of other equity instruments	(2,075,872)
Loss on financial instruments	(778,649)
Interest income collected	445,879	65,948	107,826
Net cash flows (used) by investing activities	(4,137,885)	(1,009,673)	(832,671)
Financing activities:
Loan from related parties	2,381,464
Repurchase and placement of own capital stocks, net	(90,129)	(74,497)	(41,984)
Dividends paid			(1,990,000)
Interest expense	(56,352)	(87,445)	(53,746)
Net cash flows used (provided) in financing activities	2,234,983	(161,942)	(2,085,730)
Increase in cash and cash equivalents	7,046,404	7,215,717	715,474
Cash and cash equivalents at beginning of year	15,130,192	7,727,698	7,446,447
Effects of exchange rate changes on the balance of cash and cash equivalents held in foreign currencies	(630,210)	186,777	(434,223)
Cash and cash equivalents at end of year	$ 21,546,386	$ 15,130,192	$ 7,727,698

Nature of Business

Nature of Business	12 Months Ended
	Dec. 31, 2022
Nature of business [Abstract]
Nature of business	1. Nature of business Grupo Simec, S.A.B. de C.V. is a stock exchange corporation variable equity, The main activity of Grupo Simec, S.A.B. de C.V. and its subsidiaries (Simec or the Company) is manufacturing, processing and distribution of steel and steel alloys products in Mexico, the United States of America (USA) and Brazil. Shares of the Company are listed on the Mexican Stock Exchange (BMV) and the Company´s American Depositary Receipts are listed on the New York Stock Exchange (NYSE).

Significant Events

Significant Events	12 Months Ended
	Dec. 31, 2022
Significant Events [Abstract]
Significant events	2. Significant events a. On June 11, 2021, a contract was signed for the purchase of fixed assets from Kobelco, for USD $10.0 million, for wire production, located in Silao Guanajuato. (CHQ Wire Mexico, S.A. de C.V.)

Application of New and Amended

Application of New and Amended Standards and Interpretations and Standards Not in Force Yet	12 Months Ended
	Dec. 31, 2022
Application of New and Amended Standards and Interpretations and Standards Not In Force Yet [Abstract]
Application of new and amended standards and interpretations and standards not in force yet	3. Application of new and amended standards and interpretations and standards not in force yet The consolidated financial statements of Grupo Simec, S.A.B. de C.V. and its Subsidiaries for the periods presented have been prepared in accordance with the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB). IFRS also includes all current International Accounting Standards (IAS), in force, as well as all related interpretations issued by the IFRS Interpretations Committee (IFRIC), including those issued previously by the Standing Interpretations Committee. The company applied the effective IFRS as of December 31, 2022. International Financial Reporting Standards, not in force yet. Following are the amendments that could have an effect on Simec financial information, which were issued by the IASB (International Accounting Standards Board) but are not yet effective as of the date of these financial statements. The following new standards and amendments are not yet effective but may have an impact on the financial statements of the Group in a future period. + Amendments to IAS 1 - Classification of Liabilities as Current or Non-current + Amendments to IFRS 10 and IAS 28 - Sale or contribution of assets between an investor and its associate or joint venture + Amendments to IAS 1 and IFRS Practice Statement 2 - Disclosure of Accounting Policies + Amendments to IAS 8 - Disclosure of Accounting Policies and Definition of Accounting Estimates + Amendments to IAS 12 - Deferred tax related to assets and liabilities arising from a single transaction Amendments to IAS 1 ‘Presentation of financial statements’ clarify requirements for the presentation of liabilities in the statement of financial position as current or non-current. The meaning of settlement of a liability is also clarified. The amendments are applicable for annual periods commencing on or after 1 January 2023. Amendments to IFRS 10 ‘Consolidated financial statements’ and IAS 28 ‘Investments in associates’ clarify the accounting treatment for sales or contribution of assets between an investor and its associates or joint ventures. Where the non-monetary assets constitute a business, the investor will recognise the full gain or loss on the sale or contribution of assets. Otherwise, the gain or loss is recognised by the investor only to the extent of the other investor’s interests in the associate or joint venture. The amendments have been deferred until IASB has finalised its research project on the equity method. Amendments to Disclosure of Accounting Policies and Definition of Accounting Estimates modify: ● IFRS 7, to clarify that information about measurement bases for financial instruments is expected to be material to an entity’s financial statements; ● IAS 1, to require entities to disclose their material accounting policy information rather than their significant accounting policies; ● IAS 8, to clarify how entities should distinguish changes in accounting policies and changes in accounting estimates; ● IAS 34, to identify material accounting policy information as a component of a complete set of financial statements; and ● IFRS Practice Statement 2 Making Materiality Judgements, to provide guidance on how to apply the concept of materiality to accounting policy disclosures. Amendments to Deferred tax related to assets and liabilities arising from a single transaction modify IAS 12 to clarify the accounting for deferred tax on transactions that, at the time of the transaction, give rise to equal taxable and deductible temporary differences. In specified circumstances, entities are exempt from recognising deferred tax when they recognise assets or liabilities for the first time. The amendments clarify that the exemption does not apply to transactions for which entities recognise both an asset and a liability and that give rise to equal taxable and deductible temporary differences. This may be the case for transactions such as leases and decommissioning, restoration and similar obligations. Entities are required to recognise deferred tax on such transactions. The Standard amends IFRS 1 to require deferred tax related to leases and decommissioning, restoration and similar obligations to be recognised by first-time adopters at the date of transition to International Accounting Standards, despite the exemption set out in IAS 12. Simec is evaluating the impact these changes could have on its financial statements.

Basis of Preparation and Presen

Basis of Preparation and Presentation of the Consolidated Financial Statements	12 Months Ended
	Dec. 31, 2022
Basis of Preparation and Presentation of the Consolidated Financial Statements [Abstract]
Basis of preparation and presentation of the consolidated financial statements	4. Basis of preparation and presentation of the consolidated financial statements The consolidated financial statements have been prepared in accordance with IFRS as discussed in Note 3, based on historical costs. Historical cost is generally based on the fair value of the consideration given in exchange for assets. Consolidation basis - The consolidated financial statements include the financial statements of Grupo Simec, S.A.B. de C.V. and the entities controlled by the Company (its subsidiaries). Control is obtained when the company possesses the power to govern the financial and operative policies of an entity in order to obtain benefits from its activities. The results of subsidiaries acquired or sold during the year are included in the consolidated statements of comprehensive income from the date of acquisition or up to the date of sale, as the case may be. Total comprehensive income (loss) of subsidiaries is attributed both to the Company and to the non-controlling interests even if the non-controlling interests have a deficit balance. Within the consolidation process, adjustments are made to the financial statements of the subsidiaries to adapt their accounting policies so that they are aligned with those used by the Company. All significant intercompany transactions and balances between the consolidated companies are eliminated during consolidation. Changes in investments in subsidiaries of the Company that do not result in a loss of control are recorded as equity transactions. The book value of the company’s non-controlling investments and shares is adjusted to reflect changes in the corresponding investments in subsidiaries. Any difference between the amount by which non-controlling shares are adjusted and the fair value of the consideration paid or received is recognized directly and is attributed to the owners of the company. When the company loses control of a subsidiary, the profit or loss in the provision is calculated as the difference between (i) the sum of the fair value of the consideration received and the fair value of any retained ownership interest and (ii) the prior book value of assets (including commercial credit) and liabilities of the subsidiary and any non-controlling participation. The amounts previously recognized in other comprehensive income items related to the subsidiary are recorded (that is, reclassified to profit or loss or transferred directly to retained earnings) in the same manner established for the case of the disposal of significant assets or liabilities. The fair value of any investment retained by the former subsidiary on the date of loss of control is regarded as the fair value for initial recognition in its subsequent accounting treatment, according to IAS 39, financial instruments: Recognition and valuation, or, where appropriate, the cost in the initial recognition of an investment in an associate or entity under joint control. As of December 31, 2022, and 2021, the subsidiaries of Grupo Simec, S.A.B. de C.V. included in the consolidation are the following: Percentage of equity owned 2022 2021 Subsidiaries established in Mexico: Compañía Siderúrgica de Guadalajara, S.A. de C.V. 99.99 % 99.99 % Arrendadora Simec, S.A. de C.V. 100.00 % 100.00 % Simec International, S.A. de C.V. 100.00 % 100.00 % Compañía Siderúrgica del Pacifico, S.A. de C.V. 99.99 % 99.99 % Coordinadora de Servicios Siderúrgicos de Calidad, S.A. de C.V. (7) 100.00 % 100.00 % Industrias del Acero y del Alambre, S.A. de C.V. 99.99 % 99.99 % Procesadora Mexicali, S.A. de C.V. 99.99 % 99.99 % Servicios Simec, S.A. de C.V. 100.00 % 100.00 % Sistemas de Transporte de Baja California, S.A. de C.V. 100.00 % 100.00 % Operadora de Servicios Siderúrgicos de Tlaxcala, S.A. de C.V. (7) 100.00 % 100.00 % Operadora de Metales, S.A. de C.V. (7) 100.00 % 100.00 % Administradora de Servicios Siderúrgicos de Tlaxcala, S.A. de C.V. 100.00 % 100.00 % CSG Comercial, S.A. de C.V. 99.95 % 99.95 % Operadora de Servicios de la Industria Siderúrgica ICH, S.A. de C.V. 100.00 % 100.00 % Corporación Aceros DM, S.A. de C.V. and subsidiaries (1) 100.00 % 100.00 % Acero Transportes San, S.A. de C.V. (1) 100.00 % 100.00 % Simec Acero, S.A. de C.V. 100.00 % 100.00 % Corporación ASL, S. A. de C.V. 99.99 % 99.99 % Simec International 6, S.A. de C.V. (7) 100.00 % 100.00 % Simec International 7, S.A. de C.V. 99.99 % 99.99 % Simec International 9, S.A.P.I. de C.V. 100.00 % 100.00 % Corporativos G&DL, S.A. de C.V. (7) 100.00 % 100.00 % Orge, S.A. de C.V. 99.99 % 99.99 % Siderúrgica del Occidente y Pacifico, S.A. de C.V. 100.00 % 100.00 % RRLC, S.A.P.I. de C.V. 99.99 % 95.10 % Grupo Chant, S.A.P.I. de C.V. 99.99 % 97.61 % Aceros Especiales Simec Tlaxcala, S.A. de C.V. 100.00 % 100.00 % Gases Industriales de Tlaxcala, S.A. de C.V. 100.00 % 100.00 % GSIM de Occidente S.A. de C.V. 100.00 % 100.00 % Fundiciones de Acero Estructural, S.A. de C.V. 100.00 % 100.00 % Siderúrgicos Noroeste, S.A. de C.V. 100.00 % 100.00 % Simec Siderúrgico, S.A. de C.V. 100.00 % 100.00 % Subsidiaries established in foreign countries: SimRep Corporation and Subsidiaries (3) (4) (5) 99.41 % 99.41 % Pacific Steel, Inc. (4) 100.00 % 100.00 % Pacific Steel Projects, Inc. (4) 100.00 % 100.00 % Simec Steel, Inc. (4) 100.00 % 100.00 % Simec USA, Corp. (4) 100.00 % 100.00 % Undershaft Investments, NV. (6) 100.00 % 100.00 % GV do Brasil Industria e Comercio de Aço LTDA (2) 100.00 % 100.00 % Companhia Siderurgica do Espiritu Santo S.A. (2) 100.00 % 100.00 % (1) Companies located in San Luis Potosi. For purposes of this report constitute the “Grupo San”. (2) Companies located in Brazil. (3) ICH owns 0.59% of the shares in this company at December 31, 2022. (4) Companies established in the United States of America, except a subsidiary of SimRep which is established in Canada. (5) SimRep as an individual company has no significant operations or assets, except for its investment in Republic Steel. For purposes of this report, these companies are named “Republic”. (6) Company established in Curaçao. (7) Companies that have lost the entire capital stock, except Operadora de Metales, S.A. de C.V. and which only has lost 2/3 of their capital stock. Summary of the main accounting policies a. Conversion of foreign subsidiaries financial statements The Effects of Changes in Foreign Exchange Rates The U.S. dollar (US Dollar or USD$) was considered as the functional currency of all the U.S. subsidiaries and Brazilian real for subsidiaries established in Brazil; therefore, the financial statements of these subsidiaries abroad were converted to Mexican pesos applying: - The exchange rates at the balance sheet date, to all assets, liabilities and stockholder´s equity. - The historical exchange rate at revenues, costs and expenses. The conversion differences are carried directly to the consolidated statements of comprehensive income as other comprehensive income under the caption translation effects of foreign subsidiaries. Relevant exchange rates used in the conversion of the financial statements of foreign subsidiaries were as follows (Mexican pesos per one U.S. dollar): Current exchange rate as of December 31, 2022 19.36 Current exchange rate as of December 31, 2021 20.52 Average exchange rate for the year ended December 31, 2022 (*) 20.12 Average exchange rate for the year ended December 31, 2021 (*) 20.28 Current exchange rate as of April, 28, 2023 18.10 (*) Average exchange rate used to translate revenues, costs and expenses of the companies mentioned above. b. Business combinations At the date of acquisition, the identifiable assets acquired and the liabilities assumed are recognized at their fair value, except: - Deferred tax assets or liabilities and liabilities or assets related to employee benefit arrangements, which are recognized and measured in accordance with IAS 12, Income Taxes, Employee Benefits, - Assets (or disposal groups) that are classified as held for sale in accordance with IFRS 5, Non- Assets Held for Sale and Discontinued Operations, Any excess of the cost of acquisition for the Group’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the associated company recognized at the date of acquisition is recognized as goodwill. Goodwill is included in the carrying amount of the investment and is assessed for impairment annually. Any excess of the Group’s interest in the net fair value of the assets, liabilities and contingent liabilities over the cost of acquisition, after the reassessment, is immediately recognized in profit and loss. When the consideration transferred by the Company in a business combination includes assets or liabilities resulting from a contingent consideration arrangement, the contingent consideration is measured at its acquisition-date fair value and later adjustments to the consideration are recognized against goodwill, providing that it has arisen from reliable information on the fair value at the acquisition date and occur during the ‘measurement period’ (which cannot exceed one year from the acquisition date). All other subsequent adjustments are recognized in profit or loss. The subsequent accounting for changes in the fair value of the contingent estimates that do not qualify as measurement period adjustments depends on how the contingent consideration is classified. Contingent consideration that is classified as equity is not remeasured at subsequent reporting dates. Contingencies classified as assets or liabilities are remeasured at subsequent reporting dates in accordance with IAS 37, Provisions, Contingent Liabilities and Contingent Assets When a business combination is achieved in stages, the Company’s previously held equity interest in the acquiree are remeasured to fair value at the acquisition date (i.e. the date when the Company obtains control) and the resulting gain or loss, if any, is recognized in profit or loss. Amounts arising from interests in the acquiree prior to the acquisition date that have been previously recognized in other comprehensive income (loss) are reclassified to profit or loss where such treatment would be appropriate if that interest were disposed of. If the initial accounting for a business combination is incomplete by the end of the reporting period in which the combination occurs, the Company reports provisional amounts for the items for which the accounting is incomplete. Those provisional amounts are adjusted during the measurement period, or additional assets or liabilities are recognized, to reflect new information obtained about facts and circumstances that existed at the acquisition date that, if known, would have affected the amounts recognized at that date. c. Cash and cash equivalents and temporary investments Temporary investments in equity instruments are measured at the fair value prevailing at the date of the financial statements. Subsequent changes in the fair value are recognized in profit or loss. d. Allowances for doubtful accounts e. Inventories and cost of sales The Company classifies raw material inventory in the Consolidated Statements of Financial Position based on its expected consumption period, presenting as long-term inventories those which in accordance with historical data and production trends will not be consumed in the short-term (one year). The Company classifies as long-term inventory certain parts and rollers that, according to historical data and trends, showing that such inventories will not be consumed in the short-term. The Company utilizes coke, a form of coal, as a raw material input to fuel its blast furnace which has been inactive in Lorain, Ohio USA plant (see Note 9). The Company has 136,246 metric tons (MT) of coke inventory valued at 1,237 million Mexican pesos (average of USD$ 469.0/MT) on hand at December 31, 2022 and 136,541 MT of coke inventory valued at 1,304 million Mexican pesos (average of USD$ 465.5/MT) on hand at December 31, 2021 that is classified as long-term in the accompanying Consolidated Statements of Financial Position. The Company follows the practice of providing a reserve for slow-moving inventory, considering the total of products and raw materials (including coke) with a turnover above one year, which is recorded in the statement of financial position and against account is the cost of sales. The cost of sales of the Company includes inventory costs, outbound freight charges, purchasing and receiving costs, inspection costs, and warehousing costs in cost of goods sold. Vendor payment incentives are recorded as a reduction to cost of goods sold. f. Property plant and equipment r An item of property, plant and equipment is derecognized upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Any gain or loss arising on the disposal or retirement of an item of property, plant and equipment is determined as the difference between the sales proceeds and the carrying amount of the asset and is recognized in profit or loss. The initial estimated useful lives of the Company’s main assets are as follows: Years Buildings 10 to 65 Machinery and equipment 5 to 40 Transportation equipment 4 Furniture, chattels and computer equipment 3 to 10 Repair and maintenance costs that significantly increase productive capacity or extend the useful lives of existing plant and equipment are capitalized. Supplies, comprising of spare parts and consumables for internal use are classified under property, plant and equipment and expensed as incurred in the manufacturing process. All other repair and maintenance costs are expensed as incurred. Capital expenditures for projects that cannot be put into use immediately are included in constructions and machinery in-progress. When constructions and machinery in-progress are completed, they are transferred to depreciable assets. g. Leases h. Costs for loans Investment income earned on the temporary investment of specific loans pending their expenditure on qualifying assets is deducted from the costs for loans eligible for capitalization. All other costs for loans are recognized in profit or loss in the period in which they are incurred. i. Intangible assets Expenditure on research activities is recognized as an expense in the period in which it is incurred. An internally-generated intangible asset arising from development (or from the development phase of an internal project) is recognized if, and only if, all of the following have been demonstrated: - The technical feasibility of completing the intangible asset so that it will be available for use or sale; - The intention to complete the intangible asset and use or sell it; - The ability to use or sell the intangible asset; - How the intangible asset will generate probable future economic benefits; - The availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset; and - The ability to measure reliably the expenditure attributable to the intangible asset during its development. The amount initially recognized for internally-generated intangible assets is the sum of the expenditure incurred from the date when the intangible asset first meets the recognition criteria listed above. Where no internally-generated intangible asset can be recognized, development expenditure is recognized in profit or loss in the period in which it is incurred. Subsequent to initial recognition, internally-generated intangible assets are reported at cost less accumulated amortization and accumulated impairment losses, on the same basis as intangible assets that are acquired separately. Intangible assets acquired in a business combination and recognized separately from goodwill are initially recognized at their fair value at the acquisition date (which is regarded as their cost). Subsequent to initial recognition, intangible assets acquired in a business combination are reported at cost less accumulated amortization and accumulated impairment losses, on the same basis as intangible assets that are acquired separately. An intangible asset is derecognized on disposal, or when no future economic benefits are expected from use or disposal. Gains or losses arising from derecognition of an intangible asset, measured as the difference between the net disposal proceeds and the carrying amount of the asset, are recognized in profit or loss. j. Goodwill k. Impairment of tangible and intangible assets other than goodwill An impairment loss is recognized immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Where an impairment loss subsequently reverses, the carrying amount of the asset (or a cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset (or cash-generating unit) in prior years. For purposes of allocation of goodwill when there is business combination will be distributed among each of the cash generating units of the acquiring entity, expected synergy benefits. A reversal of an impairment loss is recognized immediately in profit or loss and allocated to the assets of that unit, the carrying amount of an asset other than goodwill attributable to a reversal of an impairment loss of value shall not exceed the carrying amount that would have been obtained if had not recognized an impairment loss in value for the asset in prior periods. Unless the related asset is recognized at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase. The reversal of the impairment loss is recorded on profit and loss, unless the corresponding asset recognizes a restated amount, in which case the reversal of the impairment loss is treated as a restatement increase. l. Provisions The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, it´s carrying amount is the present value of those cash flows. m. Employee benefits The retirement benefit liability is determined based on the present value of the defined benefit obligation at the date of the statement of financial position. Any compensation included in the determination of the liability premiums corresponds to seniority premiums for retirement. Actuarial gains and losses are recognized on profit or loss for the year. The retirement benefit liability and the related net cost of the period are determined under the projected unit credit method based on projected salaries and certain assumptions determined by independent actuaries. Liabilities for employee benefits recognized in the consolidated statement of financial position represent the present value of the defined benefit obligation. Republic operates various employee benefit plans. The contributions to these benefit plans are either contractually determined by the terms of a collective bargaining agreement with the United Steelworkers or they are under the terms of a defined contribution plan. Accordingly, the company pays fixed contributions to separate entities and they are expensed in the period in which the employees rendered the services entitling them to the benefits. n. Earnings per share o. Income taxes - Current tax - Deferred tax The carrying amount of deferred tax assets is reviewed at each balance sheet date and reduced by a valuation allowance to the extent that it is no longer probable that sufficient taxable earnings will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are computed using the tax rates that are expected to apply in the period in which the liability is settled or the asset realized, based on tax rates (and tax laws) that have been enacted or substantively enacted by the balance sheet date. The effects of changes in the statutory rates are accounted for in the period that includes the enactment date. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Company expects, at the reporting date, to recover or settle the carrying amount of its assets and liabilities. Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when they relate to income taxes levied by the same taxation authority and the Company intends to settle its current tax assets and liabilities on a net basis. The Company follows the practice of recognizing the benefit from the amortization of acquired or generated tax losses in current earnings that are amortized. - Current and deferred tax for the period - Interests on recoverable tax balances p. Foreign currencies transactions Exchange differences are recognized in profit or loss in the period in which they arise except for: - Exchange differences on foreign currency borrowings relating to assets under construction for future productive use, which are included in the cost of those assets and are recorded as an adjustment to interest costs on those foreign currency borrowings; - Exchange differences on transactions entered into in order to hedge certain foreign currency risks; and - Exchange differences on monetary items receivable from or payable to a foreign operation for which settlement is neither planned nor likely to occur (therefore forming part of the net investment in the foreign operation), which are recognized initially in other comprehensive income and reclassified from equity to profit or loss on sale of all or part of the net investment. q. Financial instruments Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognized immediately in profit or loss. r. Financial assets Financial assets at amortized cost Financial assets are measured at amortized cost when the objective of holding the financial assets is to obtain contractual cash flows, and the contractual terms of the financial asset give rise on specified dates to cash flows that are only payments of principal and interest on the principal amount. Financial assets are initially recognized at fair value plus transaction costs and subsequently recorded at amortized cost using the effective interest rate method, with changes in carrying value recognized in the statement of income. They are included in current assets except for maturities greater than 12 months from the closing date, which are included in non-current assets. The Group’s financial assets, measured at amortized cost, are mainly presented as “Trade accounts and notes receivable”, “Other accounts and notes receivable”, and “Accounts receivable from related parties” in the consolidated statement of financial position. Financial assets at fair value through OCI These are financial assets held for the purpose of obtaining contractual cash flows and the sale of the financial assets, and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount. The Company’s investments in certain equity instruments have been designated to be measured at fair value through OCI in accordance with MFRS 9. In connection with this designation, any amount presented in OCI will not be transferred to the consolidated statement of income. Dividends on these equity instruments are recognized in the consolidated statement of income when the right to pay the dividend is established, and it is probable that such dividend will be paid to the Company. Financial assets at fair value through profit or loss These are financial assets held for trading. A financial asset is classified in this category if it is acquired for the purpose of selling in the near term. Derivative financial instruments are also included in this category unless they are designated as hedging instruments. Assets in this category are classified as current assets if they are expected to be settled within 12 months, otherwise they are classified as non-current assets. Derecognition The Group assesses the expected credit losses associated with its financial assets recorded at fair value through OCI. The applicable impairment method depends on whether there has been a significant increase in credit risk. For notes and trade receivables, the Company applies a simplified approach permitted by MFRS 9, which requires that expected losses over the life of the asset be recognized upon initial recognition of the notes and trade receivables s. Financial liabilities Financial liability at fair value with changes through profit or loss is a financial liability classified as held for trading or it is designated as at fair value with changes through profit or loss. A financial liability is classified as held for trading if: - It has been acquired principally for the purpose of repurchasing it in the near term; - On initial recognition, it is part of a portfolio of identified financial instruments that the Company manages together and has a recent actual pattern of short-term profit-taking; or - It is a derivative that has not been designated as a hedging instrument and fulfils the condition to be effective. A financial liability other than a financial liability held for trading may be designated as at fair value through profit or loss upon initial recognition if: - Such designation eliminates or significantly reduces a measurement or recognition inconsistency that would otherwise arise; or - The yield of a group of financial assets, financial liabilities or both, is administered and assessed based on its fair value, according to an investment strategy or risk management that the Company has documented and provided internal information over that group, based on its fair value; or - It forms part of a contract containing one or more embedded derivatives, and IAS 39, Financial Instruments: Recognition and Measurement, - Financial liabilities at fair value through profit or loss are recorded at fair value, with any gains or losses arising on remeasurement recognized in profit or loss. The net gain or loss recognized in profit or loss incorporates any interest paid on the financial liability and is included in the ‘other gains and losses’ line item in the consolidated statement of comprehensive income. - Other financial liabilities including borrowings are subsequently measured at amortized cost using the effective interest method. The effective interest method is a method of calculating the amortized cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments through the expected life of the financial liability, or (where appropriate a shorter period), to the net carrying amount on initial recognition. - The Company derecognizes financial liabilities when, and only when, the Company’s obligations are discharged, cancelled or expire. The difference between the carrying amount of the financial liability derecognized and the consideration paid and payable is recognized in profit or loss at that time. t. Derivative financial instruments These derivatives are initially recognized at fair value at the date the derivative contracts are entered into and subsequently are remeasured to the fair value at the end of reporting period. The resulting gain or loss is recognized in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship. To mitigate the risks associated with changes in natural gas prices occurring naturally as a result of the supply and demand on international markets, the Company uses natural gas cash-flow exchange contracts or natural gas swaps to offset fluctuations in the price of natural gas, whereby the Company receives a floating price and pays a fixed price. Fluctuations in natural gas prices from volumes consumed are recognized as part of the Company’s operating cost. At the inception of the hedge relationship, the Company documents the relationship between the hedging instrument and the hedged item, along with its risk management objectives and its strategy for undertaking various hedge transactions. Furthermore, at the inception of the hedge and on an ongoing basis, the Company documents whether the hedging instrument is highly effective in offsetting exposure to changes in fair values or cash flows of the hedged item attributable to the hedged risk. The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow hedges is recognized in other comprehensive income and accumulated under the heading of fair value of derivative financial instruments, The Company periodically evaluates the changes in cash flows of the derivative instrument to analyze if the swaps are highly effective for mitigating the exposure to natural gas price fluctuations. A hedge instrument is considered to be highly effective when changes in its fair value or cash flows of the primary position are compensated on a regular or cumulatively basis, by changes in fair value or cash flows of the hedging instrument in a range between 80% and 125%. Amounts previously recognized in other comprehensive income are reclassified to profit or loss in the periods when the hedged item is recognized in profit or loss, in the same line of the consolidated statement of comprehensive income as the recognized hedged item. However, when the hedged forecasted transaction results in the recognition of a non-financial asset or a non-financial liability, the gains and losses previously accumulated in equity are transferred from equity and included in the initial measurement of the cost of the non-financial asset or non-financial liability. Hedge accounting is discontinued when the Company revokes the hedging relationship, when the hedging instrument expires or is sold, terminated, or exerted, or when it no longer qualifies for hedge accounting. Any gain or loss accumulated from the hedge instrument that had been recognized in other comprehensive income and accumulated in equity at that time remains in equity until the forecast transaction is ultimately recognized in profit or loss. When a forecast transaction is no longer expected to occur, the gain or loss accumulated in equity is recognized immediately in profit or loss. u. Revenue from contracts with customers Sale of goods Revenue from products sales manufactured by the Company (“the products”) is recognized at the point in time when control of the asset is transferred to the customer, normally generally on delivery of the parts. The normal credit term is 30 to 90 days upon delivery. The Company does not have any obligations to be fulfilled in the contracts, which are obligations to be fulfilled separately and in which a portion of the transaction price should be allocated, other than the delivery of products confirming to the specifications of a customer purchase order. When determining the transaction price for the sale of products, the Company would consider the possible effects of the variable consideration, the existence of important financing components, the consideration other than cash and the consideration payable to the client. Contract assets A contract asset is the right to consideration in exchange for goods or services transferred to the customer. If the Company performs an obligation by transferring goods or services to a customer before the customer pays consideration or before payment is due, a contract asset is recognized for the earned consideration that is conditional. Accounts receivable A receivable represents the Company’s right to an amount of consideration that is unconditional (i.e., only the passage of time is required before payment of the consideration is due). Cont

Critical Accounting Judgments a

Critical Accounting Judgments and Key Sources of Estimates	12 Months Ended
	Dec. 31, 2022
Disclosure Of Critical Accounting Judgments And Key Sources Of Estimation Explanatory Abstract
Critical accounting judgments and key sources of estimates	5. Critical accounting judgments and key sources of estimates In the application of the Company’s accounting policies, which are described in Note 4, management is required to make judgments, estimates and assumptions regarding the carrying amounts of assets and liabilities. The estimates and associated assumptions are based on historical experience, the future and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis and the resulting changes are recorded on the period in which the estimate has been modified, if such change affects only that period or in future periods. a. Critical accounting judgments - The following are the critical judgments in the application of accounting policies, apart from those involving estimations, that the management have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognized in the financial statements: - Functional currency b. Key information for estimates - The following are the key assumptions, and other key sources of estimation at the consolidated balance sheet date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the following financial year. - Allowance for expected credit losses - Net realizable value of inventory - Impairment of long-lived assets in use - Estimating useful lives and residual values of property, plant and equipment - Impairment of goodwill - Employee Benefits A change in the economic, employment and fiscal conditions could modify the estimates. - Contingencies - Deferred income tax assets - Valuation of financial instruments The Company’s management believes that the chosen valuation techniques and assumptions used are appropriate in determining the fair value of derivative financial instruments. At December 31, 2022 and 2021 the Company has no derivative financial instruments.

Cash and Cash Equivalents and O

Cash and Cash Equivalents and Other Investments	12 Months Ended
	Dec. 31, 2022
Cash and cash equivalents and other investments [Abstract]
Cash and cash equivalents and other investments	6. Cash and cash equivalents and other investments Cash and cash equivalents are as follows: December 31, 2022 2021 Cash $ 4,040,351 $ 2,065,311 Cash equivalents (1) 17,506,035 13,064,881 $ 21,546,386 $ 15,130,192 (1) Cash equivalents are investments with initial original maturities of less than 90 days and consist primarily of Treasury Bills issued by the United States Treasury Department.

Trade Receivables - Net

Trade Receivables - Net	12 Months Ended
	Dec. 31, 2022
Trade receivables – Net [Abstract]
Trade receivables - Net	7. Trade receivables - Net The average collection period on sales of goods is between 30 and 60 days. No interest is charged on the outstanding accounts receivables from clients. The Company has recognized an allowance for doubtful accounts to show the possible financial loss caused by the inability of customers to make the corresponding payments. Allowances for doubtful accounts are calculated based on several factors including price adjustments, likelihood of recovery, aging and historical experience. Credit limits and credit scores of customers are reviewed twice a year. On December 31, 2022 and 2021 there were no customers who represent more than 5% of the total balance of trade receivables. The Company does not hold any collateral or other credit enhancements over these balances nor does it have a legal right of offset against any amounts owed by the Company to the counterparty. Trade receivables disclosed below include amounts that are past due at the end of the reporting period for which the Company has not recognized an allowance for doubtful debts because there has not been a significant change in credit quality and the amounts are still considered recoverable. The Company does not hold any collateral. In general terms, the accounts receivable does not show impairment. Age of net receivables that are past due were as follows: At December 31, 2022 2021 30 - 60 days $ 149,250 $ 355,633 61 - 90 days 709,781 62,387 91 + days 1,000,937 93,504 Total $ 1,859,968 $ 511,524 During the years ended December 31, 2022 and 2021, the movement in the allowance for doubtful accounts was as follows: 2022 2021 Balance at beginning of year $ 224,569 $ 233,355 Provisions 25,163 22,247 Cancellation (834 ) Account recoveries (2,708 ) Translations effects (22,466 ) (28,325 ) Balance at end of year $ 226,432 $ 224,569 The Company recognize an estimation for expected credit loss, based on the historical experience of credit losses in their accounts receivable, current conditions and reasonable and sustainable forecasts of the different quantifiable future events that could affect the amount of future cash flows for recovering accounts receivable. In determining the non-recoverable portion of accounts receivable, the Company considers any change in the credit quality of the trade receivable from the date credit was initially granted up to the end of the reporting period. The concentration of credit risk is minimum, due to the fact that the customer base is large and unrelated.

Recoverable Taxes

Recoverable Taxes	12 Months Ended
	Dec. 31, 2022
Recoverable Taxes [Abstract]
Recoverable taxes	8. Recoverable taxes December 31, 2022 2021 Value Added Tax $ 32,686 $ 100,838 Income Tax 353,506 353,325 Other 18,730 595 $ 404,922 $ 454,758

Inventories

Inventories	12 Months Ended
	Dec. 31, 2022
Inventories [Abstract]
Inventories	9. Inventories December 31, Current inventory: 2022 2021 Finished goods $ 3,656,990 $ 2,772,167 Work-in-process 125,259 355,830 Billets 2,282,093 2,255,933 Raw materials and supplies 5,446,489 5,092,292 Materials, spare parts and rollers 1,264,727 1,271,891 Materials in-transit 15,753 $ 12,791,311 $ 11,748,113 Non-current inventory: December 31, 2022 2021 Coke $ 1,237,188 $ 1,303,975 Spare parts 74,361 62,092 Rollers 177,270 162,263 Finished goods 353,095 353,095 1,841,914 1,881,425 Less, valuation allowance at the lower of cost or net realizable value. (353,095 ) (353,095 ) $ 1,488,819 $ 1,528,330 The Company has $ 1,237,188 and $ 1,303,975 of coke inventory on hand as of December 31, 2022 and 2021, respectively (See note 4-e), which the Company would use as an input to its blast furnace in the Lorain facility which is currently idled. Management of the Company continually evaluates both the idled facility and the coke inventory for impairment. Management periodically evaluates the potential degradation of the coke inventory and has determined that it continues to be suitable as a blast furnace input or, alternatively, for sale to other blast furnace facilities. As of March 2023, management considers that there will be recovery in the industries in which the Company operates; this would result in the blast furnace being restarted in the future. However, the Company has recorded an impairment to the blast furnace resulting in a book value of zero. The Company has continued incurring certain costs to maintain the assets in Lorain, including the blast furnace and the coke; such costs are expensed as incurred. In order to restart the blast furnace the Company will incur expenses for the restoration of the equipment, and there is still uncertainty on the date on which the blast furnace will restart operation, if ever The Company cannot offer any guarantee of the eventual restarting of the blast furnace or when conditions will become economically feasible to do so.

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Property, plant and equipment	10. Property, plant and equipment Cost of property, plant and equipment is as follows (in millions of Mexican pesos): Land Buildings Machinery Transportation Furniture, Constructions Total Balance to January 1, 2021 $ 1,316 $ 5,440 $ 29,637 $ 161 $ 144 $ 1,015 $ 37,713 Additions 119 14 569 1 5 358 1,066 Conversion adjustments (4 ) (44 ) (12 ) 303 243 Balance as of December 31, 2021 $ 1,431 $ 5,410 $ 30,194 $ 162 $ 149 $ 1,676 $ 39,022 Additions 2 3 286 1 4 1,400 1,696 Conversion adjustments (18 ) (9 ) (339 ) (1 ) (40 ) (407 ) Balance as of December 31, 2022 $ 1,415 $ 5,404 $ 30,141 $ 163 $ 152 $ 3,036 $ 40,311 Accumulated depreciation of property, plant and equipment is as follows (in millions of Mexican pesos): Buildings Machinery and Transportation Furniture, Total Balance as of January 1, 2021 1,213 $ 20,382 $ 86 $ 81 $ 21,762 Depreciation expense 46 1,127 2 0 1,175 Conversion effects (9 ) 82 (2 ) 1 72 Balance as of December 31, 2021 1,250 $ 21,591 $ 86 $ 82 $ 23,009 Depreciation expense 46 1,058 2 0 1,106 Conversion effects (10 ) (575 ) (2 ) 0 (587 ) Balance as of December 31, 2022 $ 1,286 $ 22,074 $ 86 $ 82 $ 23,528 The depreciation expense for the years ended December 31, 2022, and 2021 amounted to $ 1,106,263 and $ 1,175,108, respectively. The net book value of property, plant and equipment is as follows (in millions of Mexican pesos): Net Book Value: Land Buildings Machinery Transportation equipment Furniture, Constructions Total Balance as of December 31, 2020 $ 1,316 $ 4,227 $ 9,255 $ 75 $ 63 $ 1,015 $ 15,951 Balance as of December 31, 2021 $ 1,431 $ 4,160 $ 8,603 $ 76 $ 67 $ 1,676 $ 16,013 Balance as of December 31, 2022 $ 1,415 $ 4,118 $ 8,067 $ 77 $ 70 $ 3,036 $ 16,783 Until December 31, 2014, Republic has invested USD $158.8 million in an electric arc furnace and auxiliar facilities for its steel facility in Lorain, Ohio, USA, with the intention to satisfy growing customer demand of SBQ. The locality of this steel mill was selected due to its strategic location close to customers and the availability of skilled labor. Furnace construction started at midyear of 2012 and the operations started production in July 2014. The furnace steel amount includes of USD $ 45.4 million of labor and capitalized indirect expenses. This facility was idled in June of 2015 and management has no near-term plans to restart the facility, except for the Lorain 9/10” Mill, which is in the process of being recommissioned due to market demand for cold heading quality steel (CHQ) and special bar quality steel (SBQ). The expectation is that it will be restarted when market conditions improve substantially, particularly in the oil and gas drilling industry. During 2022 and 2021, the Company invested in certain improvements in the Lorain facility so as to be better prepared to reactivate the plant, with USD$ 5.5 and USD$ 15.6 million recorded to construction-in-progress for the years ended December 31, 2022 and 2021, respectively. The construction in progress in the last 3 years amount to USD $27.1 million. Management expects to incur USD$ 4.0 million in additional costs related to starting up the facility. The Company has property, machinery, and equipment with a net book value of approximately USD$ 61.7, USD$ 54.6 and USD$ 40.3 million as of December 31, 2022, 2021 and 2020, respectively, pertaining to the Lorain, Ohio facility after recording an impairment charge of USD$ 130.7 million when the facility was idled. As a consequence of this event, management determined a triggering event took place to where the long-lived assets at the Lorain facility may not be fully recoverable. Management performed an analysis of the fair value of the Lorain facility with the assistance of an independent valuation firm and determined the net book value exceeded the fair value by approximately U.S.$130.7 million (Ps.$ 2,701 million) and as such recognized an asset impairment of this amount during the year ended December 31, 2015. The fair value determination at the Lorain facility was based on an independent valuation of the Lorain melt shop assets using the comparable match method of the market approach. The income approach was not considered an appropriate fair value measurement due to the absence of reliable forecast data as the facility was idled indefinitely in early 2016. Management further assessed if there were any impairments at the Company’s other asset groups in accordance with IFRS and determined that as of December 31, 2022, no other asset groups were impaired based on current projections. No further impairment was considered necessary or appropriate.

Investments in financial instru

Investments in financial instruments	12 Months Ended
	Dec. 31, 2022
Investments in financial instruments [Abstract]
Investments in financial instruments	11. Investments in financial instruments The balances as of December 31, 2022 are as follows: 2022 Other stock instruments $ 1,758,605 Corresponds to instruments listed on the Stock Exchange and its fair value is determined using the market prices quoted on the valuation date.

Intangible and Other Long-Term

Intangible and Other Long-Term Assets	12 Months Ended
	Dec. 31, 2022
Intangible and Other Long-Term Assets [Abstract]
Intangible and other long-term assets	12. Intangible and other long-term assets The balances as of December 31, 2022 and 2021 are as follows: 2022 Amortization Assets Original Accumulated Net period Republic trade mark $ 104,289 $ $ 104,289 * Customers list 63,664 63,664 20 Total from Republic (1) 167,953 63,664 104,289 Customers list 2,205,700 2,205,700 9 San 42 trademark (2) 329,600 329,600 * Goodwill (2) 1,814,160 1,814,160 * Total from Grupo San (3) 4,349,460 2,205,700 2,143,760 4,517,413 2,269,364 2,248,049 Other assets 77,206 77,206 $ 4,594,619 $ 2,269,364 $ 2,325,255 2021 Amortization Assets Original Accumulated Net period Republic trade mark $ 110,506 $ $ 110,506 * Customers list 67,459 67,459 20 Total from Republic (1) 177,965 67,459 110,506 Customers list 2,205,700 2,205,700 9 San 42 trademark (2) 329,600 329,600 * Goodwill (2) 1,814,160 1,814,160 * Total from Grupo San (3) 4,349,460 2,205,700 2,143,760 4,527,425 2,273,159 2,254,266 Other assets 58,303 58,303 $ 4,585,728 $ 2,273,159 $ 2,312,569 * Intangible assets with undefined useful life. (1) Intangible assets from the Republic acquisition. (2) The San 42 trademark and the goodwill are presented net of impairment losses recorded in 2009 for $16,000 and $2,352,000, respectively. (3) Intangible assets from the Grupo San acquisition. The amortization of these assets recorded in net income for the years ended December 31, 2022 and 2021, amounted to $ 10,609 and $ 10,522, respectively. The other assets are not subject to amortization and they are primarily comprised of guarantee deposits. The reconciliation between the opening and closing balances of each year is presented below: Assets Original Value Accumulated Net Balance as of December 31, 2020 $ 4,719,347 $ (2,396,391 ) $ 2,322,956 Additions 10,520 (10,520 ) 0 Cancellations (128,785 ) 128,785 0 Adjustment effect of the year (15,354 ) 4,967 (10,387 ) Balance as of December 31, 2021 $ 4,585,728 $ (2,273,159 ) $ 2,312,569 Additions 10,609 (10,609 ) 0 Cancellations (2,505 ) 2,505 0 Adjustment effect of the year 787 11,899 12,686 Balance as of December 31, 2022 $ 4,594,619 $ (2,269,364 ) $ 2,325,255

Short-Term Debt

Short-Term Debt	12 Months Ended
	Dec. 31, 2022
Disclosure Of Borrowings Text Block Abstract
Short-term debt	13. Short-term debt On October 22, 1997 and August 17, 1998, the Company offered the holders of medium-term notes of Simec then outstanding to exchange their bonds at par for new subordinated bonds in third place. The new notes bear semi-annual interest at an annual rate of 10.5% interest and principal repayments were semiannual from May 15, 2000 until November 15, 2007. At December 31, 2022 and 2021, the amount of the bonds not exchanged totaled USD$ 0.3 million, plus accrued interest. At December 31, 2022 and 2021, liabilities in pesos for the bonds not exchanged amounted $ 5,847 and $ 6,296, respectively.

Accounts Payable Trade and Othe

Accounts Payable Trade and Other Accrued Liabilities	12 Months Ended
	Dec. 31, 2022
Accounts payable trade and other accrued liabilities [Abstract]
Accounts payable trade and other accrued liabilities	14. Accounts payable trade and other accrued liabilities December 31, 2020 2021 Trade accounts payable $ 9,410,419 $ 6,910,451 Other accrued liabilities 697,631 898,404 $ 10,108,050 $ 7,808,855

Employee Benefits

Employee Benefits	12 Months Ended
	Dec. 31, 2022
Employee Benefits [Abstract]
Employee benefits	15. Employee benefits Mexican entities a. Collective bargaining agreements b. Seniority premium benefits c. Severance benefits d. Employee profit sharing (EPS) e. Governmental defined contribution plans Main actuarial hypothesis used in the actuarial computations are: 2022 2021 2020 Discount rate 9.10 % 7.55 % 7.00 % Wage increase rate 5.00 % 5.00 % 4.50 % Rate of salary increase 4.50 % 4.50 % 4.50 % Employee benefits liability as of December 31, 2022, 2021 and 2020 are comprised as follows: Retirement Termination 2022 2021 2020 Vested benefits Obligation (OBA) $ - $ - $ - $ 3,390 $ 47,159 Plus, Non-Vested Benefits Obligation 74,007 95,368 169,375 159,453 115,077 Defined Benefits Obligation 74,007 95,368 169,375 162,843 162,236 Projected Net Liability $ 74,007 $ 95,368 $ 169,375 $ 162,843 $ 162,236 Net cost for the period booked in profit and loss is comprised as follows: Retirement Termination 2022 2021 2020 Service cost 4,933 $ 6,065 $ 10,998 $ 9,299 $ 6,736 Net interest 6,573 5,528 12,101 11,121 9,306 Labor cost of past services (11,136 ) (108 ) (11,244 ) 1,806 5,240 Net Cost for the period $ 370 $ 11,485 $ 11,855 $ 22,226 $ 21,282 The DBO amount recorded in the balance sheet as of December 31, 2022 and 2021 are $ 169,375, and $ 162,843, respectively. 2022 2021 Defined benefit obligations (DBO) changes in present $ 162,843 $ 162,236 Value DBO present value at January 1 st 162,843 162,236 Past services labor cost (11,244 ) 1,806 Current service labor cost 10,998 9,299 Interest expense 12,101 11,121 Paid benefits (9,229 ) Actuarial gains and losses in obligations $ 3,906 $ (21,619 ) DBO present value at December 31 st $ 169,375 $ 162,843 Initial PNL $ 162,843 $ 162,236 Net cost for the period 11,855 22,226 Paid benefits (9,229 ) Previous years effect on profit and loss 3,906 (21,619 ) Final PNL $ 169,375 $ 162,843 Defined benefits obligations (DBO) $ 169,375 $ 162,843 Foreign entities (Republic) Republic is the only subsidiary of the Company which offers other benefits and pension plans to their employees. Such benefit plans to employees are described below: a. Collective Bargaining Agreements As of December 31, 2022, 2021 and 2020 70%, 76% and 70%, respectively of Republic employees are covered by a collective bargaining agreement (labor agreement) with the United Steelworkers (“USW”). The agreement initially expired on August 15, 2016, was extended for three years through August 15, 2019, and further extended through August 15, 2022. The extended agreement renews all the provisions, understandings and agreements set forth in the January 1, 2012 Basic Labor Agreement. The base rates of pay determined under the extended agreement will remain unchanged from those ruling under the expired agreement as of August 16, 2016. The extended agreement provides that Company’s quarterly contributions to fund the Republic Retirement VEBA Benefit Trust (the “Benefit Trust”) be reduced from $2.6 million to $0.25 million beginning in August 15, 2016 through June 30, 2019. Effective July 1, 2019, the Company’s contribution to the Benefit Trust changed to $4.00 per hour for each hour worked by USW represented employees. Effective August 16, 2019, until June 30, 2022, the Company obligation to finance the Profit Trust changed again and is limited to the creation of a profit-sharing pool consisting of 3% of the quarterly profits from $ 0 to 50 million and 4% of the profits of the Company over % 50 million. Effective July 1, 2022, the Company’s contribution to the Beneficiary Trust changes back to a limit of $ 4.00 per hour worked by USW represented employees. b. Defined Contribution Plans Plan for employees- Participation in a multi-employer pension plan agreed under terms of a collective bargaining agreement differs from a traditional qualified single employer defined benefit pension plan. The SPT shares risks associated with the plan in the following respects: I. Contributions to the SPT by Republic may be used to provide benefits to employees of other participating employers; II. If a participating employer stops contributing to the SPT, the unfunded obligations of the plan may be borne by the remaining participating employers; and III. If Republic chooses to stop participating in the SPT, Republic may be obliged to pay an amount based on the underfunded status of the plan, referred to as a withdrawal liability. c. VEBA Benefit Trust The Company is required to make quarterly contributions to the defined contribution plan for post-retirement health benefits VEBA as determined by the terms of the USW collective bargaining agreement. The Benefit Trust is a health and welfare plan for USW retiree benefits, and is not a “qualified” plan under the regulations of the Employee Retirement Income Security Act of 1974. For the years ended December 31, 2022, 2021 and 2020, the Company recorded expenses of USD $ 0.3, USD $ 0.5 million and USD $ 0 million, respectively, related to this benefits plan. For the years ended December 31, 2022, 2021 and 2020, Republic recorded combined expenses of USD$ 1.9 million, USD$ 3.5 and USD$ 3.1 million, respectively, related to the funding obligations of the retirement healthcare and pension benefits. d. 401(k) Plans The Company has a 401(k) defined contribution retirement plan that covers almost all the salaried and nonunion hourly employees. This plan is designed to provide retirement benefits through Company contributions and voluntary deferrals of employees’ compensation. The Company funds contributions to this plan each pay period, based on the participant’s age and years of service as of January first of each year. The amount of the Company contribution is equal to the monthly base salary multiplied by the appropriate percentage based on age and years of service. The contribution becomes 100% vested upon completion of three years of vesting service. In addition, employees are permitted to make contributions to this 401(k)-retirement plan through payroll deferrals. In this case, the Company provides a 25.0% matching contribution for the first 5.0% of payroll that an employee elects to contribute. Employees are 100% vested in both their and Republic matching 401(k) contributions. For the years ended December 31, 2022, 2021 and 2020 the Company recorded expense of USD$ 1.1 million, USD$ 1.0 million and USD$ 1.1 million, respectively, related to this defined contribution retirement plan. Employees who are covered by the USW labor agreement are eligible to participate in the 401(k) defined contribution retirement plan through voluntary deferrals of employees’ compensation. There are no Company contributions or employer matching contributions relating to these employees. e. Profit Sharing and Incentive Compensation Plans The labor agreement includes a profit sharing plan to which the Company is required to contribute The extended agreement modified the plan to the following quarterly pretax income, as defined in the labor agreement (“EBT”): 3% of EBT between $0 and $25 million per quarter; 4% of EBT between $25 and $75 million per quarter; and 5% of EBT over $75 million per quarter. For the years ended December 2021 and 2020, the company does not make outlays, because the current year thresholds had not been achieved, USD $ 0.3 million and USD $ 0.5 million of expense was recorded for the years ended December 31, 2022 and 2021. Republic has a profit-sharing plan for all salaried employees and nonunion workers. The profit-sharing plan was based on achieving certain profitability, inventory and shipments targets. In the year ended December 31, 2022, 2021 and 2020 the Company paid USD 0.0 million, USD $ 0.5 and USD $0.0 million respectively, under this plan.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
Disclosure Of Income Tax Text Block Abstract
Income taxes	16. Income taxes The Company is subject to Income Tax (ISR). The analysis of the income tax charged to the results of 2022, 2021 and 2020 is as follows: 2022 2021 2020 Income tax of the year for Mexican companies $ 2,549,851 $ 2,564,312 $ 1,460,057 Income tax year for foreign companies 599,940 1,253,895 370,860 Deferred tax for Mexican companies (119,999 ) (96,453 ) (94,604 ) Deferred tax for foreign companies 269,730 668,015 341,531 $ 3,299,522 $ 4,389,769 $ 2,077,844 During 2022, 2021 and 2020, the income tax expense (benefit) attributable to income was different from the one that will result for applying 30% (tax rate in Mexico) before these provisions, as a result of the items shown below: 2022 2021 2020 Expected benefit, expense $ 3,300,413 $ 4,084,348 $ 1,462,776 Increase (decrease) as a result of: Inflation effect, net (524,640 ) (577,234 ) (139,134 ) Impact of the nominal rate differences between the USA and Mexico 29,996 66,343 11,075 Benefit from utilization of tax loss carry-forwards and others (1) 80,166 (12,086 ) 16,173 Others, net (includes permanent items) Income tax expense (2) 413,587 828,398 172,519 Income tax expense $ 3,299,522 $ 4,389,769 $ 1,523,409 Effective tax rate 29.99 % 31.73 % 31.24 % (1) This amount corresponds to the income tax benefit obtained by those companies that used tax loss carry-forwards in the years presented that were generated previously to 2022, 2021 and 2020 , less the effect of tax losses incurred by some subsidiaries for which no deferred tax asset was recorded. The Company has tax losses in some Mexican subsidiaries which, according to the ISR law in Mexico, can be amortized to reduce taxable income generated over the following ten years. Tax losses can be updated following certain procedures established in the law. As of December 31, 2022, Grupo Simec, S.A.B. de C.V. and certain of its Mexican subsidiaries have updated tax losses pending of amortize as follows: Origin Expiration Tax losses 2013 2023 7,793 2014 2024 8,729 2015 2025 11,036 2016 2026 386,277 2017 2027 303,647 2018 2028 68,360 2019 2029 953,370 2020 2030 961,943 2021 2031 1,402,495 2022 2032 922,370 $ 5,026,020 As of December 31, 2022, Republic had USD$ 316.1 million of tax losses pending to amortize for federal tax purposes, of those USD $119.4 million are undefined and USD $196.7 million expire between 2033 and 2038; USD$ 280.1 million of tax losses for state and local purposes that expire between 2022 and 2040 and approximately USD$ 6.6 million of tax losses at the subsidiary located in Canada, which expire between 2032 and 2040. As of December 31, 2022, GV do Brasil Industria e Comercio of Aço LTDA, a subsidiary established in Brazil, had R$ 16.546 million Brazilian Reals ($ 60 million of Mexican pesos) of tax losses pending to amortize for federal tax purposes, which do not have an expiration date. Below is a summary of the effects of the main temporary differences comprising the deferred income tax liability included in the consolidated statements of financial position. December 31, 2022 2021 Deferred tax assets: Allowance for doubtful accounts $ (67,930 ) $ (64,511 ) Advances from customers 464,268 359,795 Deferred tax assets 396,338 295,284 Deferred tax liabilities: Property, plant and equipment 4,209,513 3,926,450 Intangible assets from Grupo San 381,282 353,661 Provisions 17,199 76,601 Prepaid expenses 11,493 43,696 Total deferred liabilities 4,619,487 4,400,408 Deferred tax liabilities, net $ 4,223,149 $ 4,105,124

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2022
Stockholders' Equity [Abstract]
Stockholders' equity	17. Stockholders’ equity a. Common stock as of December 31, 2022 and 2021, is as follows: Number of Amount Fixed capital 90,850 $ 441,786 Variable capital 406,859 1,978,444 497,709 2,420,230 Effect of restatement 412,038 Total 497,709 $ 2,832,268 Common stock consists of nominative shares, fully subscribed, without nominal value. Variable capital can be increased without limitation. All shares correspond to Series “B”. This series is divided in “Class I” with 90,850,050 shares that represent the fixed capital, and “Class II” with 406,859,164 shares of variable capital stock. b. Retained earnings include the statutory legal reserve. According to the Mexican General Corporate Law, at least 5% of net profit of the year must be transferred to the legal reserve until the reserve equals 20% of capital stock at par value (historical Mexican Pesos). The legal reserve may be capitalized but should not be distributed unless the entity is dissolved, and it must be replenished if it is reduced for any reason. As of December 31, 2022, and 2021, the legal reserve of the Company amounted to $ 484,046 (nominal pesos), representing 20% of nominal stockholder´s equity. c. As of December 31,2022, a reserve was approved for $ 7,000,000 for the repurchase and placement of own shares ($5,000,000 at December 31, 2021), for purchase and re-purchase operations, in order to increase the liquidity of the shares of the Company and promote stability and continuity of their prices through the Mexican Stock Exchange. As of December 31 2022, and 2021, the Company held 35,573,326 and 35,128,483 shares in treasury, respectively, which amounted to $ 4,266,278 and $ 2,176,149, respectively. The resulting loss in 2022 for the purchase and sale of treasury shares amounted to $ 0 (the 0 in $ 2021). d. A reconciliation of the number of shares outstanding shows below: Thousands of shares 2022 2021 Shares outstanding at beginning of year 462,581 463,243 Repurchase of capital shares, net (445 ) (662 ) Shares outstanding at yearend 462,136 462,581

Non-Controlling Interest

Non-Controlling Interest	12 Months Ended
	Dec. 31, 2022
Non-Controlling Interest [Abstract]
Non-controlling interest	18. Non-controlling interest As mentioned in Note 4, Grupo Simec, S.A.B. de C.V. owns substantially all of the capital stock of its subsidiaries, except for SimRep Corporation and subsidiaries, where it owns 99.41%. The non-controlling equity represents the participation in this subsidiary held by minority stockholders and is presented in the consolidated statement of financial position after controlling interest. The consolidated statement of comprehensive income presents net income or loss for the full year, as well as comprehensive income or loss for the full year. The distribution in controlling and non-controlling participation is presented after the consolidated comprehensive income for the year. The table below shows the changes for the years ended December 31, 2022 and 2021: 2022 2021 Balance at beginning of year $ 41,161 $ 36,010 Share of profits and losses for the year (1,612 ) 1,659 Share of translation effects of foreign subsidiaries (1,902 ) 3,492 Balance at the end of the year $ 37,647 $ 41,161

Accumulated Other comprehensive

Accumulated Other comprehensive income (loss)	12 Months Ended
	Dec. 31, 2022
Disclosure Of Accumulated Other Comprehensive Incomelosstext Block Abstract
Accumulated Other comprehensive income (loss)	19. Accumulated Other comprehensive income (loss) Conversion Other equity Total Balances as of January 1, 2022 1,288,278 1,288,278 Items that will not be recycled to profit and loss: Other equity instruments (317,267 ) (317,267 ) Items that can be recycled to profit and loss: Conversion translation adjustment on foreign subsidiaries (1,257,453 ) (1,257,453 ) Balances as of December 31, 2022 $ 30,825 $ (317,267 ) $ (286,442 )

Transactions and Balances with

Transactions and Balances with Related Parties	12 Months Ended
	Dec. 31, 2022
Transactions and Balances with Related Parties [Abstract]
Transactions and balances with related parties	20. Transactions and balances with related parties a. Transactions with related parties, carried out in the ordinary course of business, were as follows: 2022 2021 2020 Holding company Interest income 55,848 34,447 41,034 Management staff Administrative services expenditures 275,063 113,018 199,488 Other related parties Sales 392,531 391,664 188,082 Purchases 253,931 40,081 27,507 Direct short-term benefits (*) 120,151 78,321 90,562 (*) Correspond to the salaries, allowances and bonuses paid to the executives of Simec. b. Balances receivable from and payable to related parties are as follows: December 31, 2022 2021 Short-term Accounts receivable: Industrias CH, S.A.B. de C.V. $ 62,055 $ 6,073 Cía. Laminadora Vista Hermosa, S.A. de C.V. 974 628 Operadora Compañía Mexicana de Tubos, S.A. de C.V. 824 873 Compañía Manufacturera de Tubos, S.A. de C.V. 2,799 Cía. Tubos y Perfiles Monterrey, S.A. de C.V. 3,371 3,318 Operadora Perfiles Sigosa, S.A. de C.V. 3,999 2,872 Operadora Construalco, S.A. de C.V. 606 519 Aceros y Laminados Sigosa, S.A. de C.V. 16,473 1,638 Arrendadora Norte de Matamoros, S.A. de C.V. 1,294 1,294 Operadora Industrial de Herramientas, S.A. de C.V. 816 Joist del Golfo, S.A. de C.V. 2,582 5,227 Holding Protel, S.A. de C.V. 304 Aceros CH, S.A. de C.V. 130 Sigosa Aceros, S.A. de C.V. 14 18,942 Siderúrgicos del Golfo, S.A. de C.V. 832 940 Perfiles Comerciales Sigosa, S.A. de C.V. 4,125 25,588 Pytsa Industrial de Mexico. S.A. de C.V. 438 438 Aceros y Laminados Sigosa, S.A. de C.V. 820 Acertam, S.A. de C.V. 785 Servicios Estructurales, S.A. de C.V. 3,047 Others 151 246 $ 104,803 $ 70,232 December 31, 2022 2021 Long-term Accounts receivable: Industrias CH, S.A.B. de C.V. $ 648,281 $ 648,281 $ 648,281 $ 648,281 Loans to related parties: Industrias CH, S.A.B de C.V. $ 959,153 $ 915,553 Perfiles Comerciales Sigosa, S.A. de C.V. 145,910 154,605 $ 1,105,063 $ 1,070,158 Total, long-term $ 1,753,344 $ 1,718,439 The account receivable with Industrias CH, S.A.B. de C.V. corresponds mainly to ISR balances to be recovered, due to the fact that some companies consolidated ISR for tax purposes until 2013 with this company. Loans: In USD 25,400, equivalent to $521,208 Mx. Pesos, plus interest for $120,494, plus VAT of $18,596, resulting a total for $660,298 as of December 31, 2021. As of January 2022 an amending Agreement was made where the balance as of that date remains in Mexican pesos. As of December 31,2021 a loan in pesos from Industrias CH, S.A.B. de C.V. for $186,752 plus interest of $59,054 plus the IVA of $9,449 for a balance of $255,255. These granted loans in USD and pesos including interest amount to $ 959,153 as of December 31, 2022. (2021 $915,553). As of December 31, 2022, including the loan in USD converted into pesos, were as follows: $707,851 plus interests of 217,357, plus VAT of $33,945, with a total of $959,153. As of December 31, 2022, there is a receivable from Perfiles Comerciales Sigosa, S.A. de C.V., derived from loan interest of $ 145,910 (USD $7,742,685), and a balance receivable of $ 154,605, as of December 31, 2021. 2022 2021 Accounts payable: Aceros y Laminados Sigosa, S.A. de C.V. $ 24,455 $ 7,155 Industrias CH, S.A.B. de C.V. 245,388 214,294 Perfiles Comeciales Sigosa, S.A. de C.V. 3,802 3,802 Holding Protel, S.A. de C.V. 251 251 Compañia Laminadora Vista Hermosa, S.A. de C.V. 518 445 Operadora Perfiles Sigosa, S.A. de C.V. 2,800 2,074 Operadora Pytsa Industrial, S.A. de C.V. 8,353 11,603 Comercializadora Sigosa, S.A. de C.V. 2,532 Compañia Manufacturera de Tubos, S.A. de C.V. 9,837 7,174 Operadora Compañia Mexicana de Tubos, S.A. de C.V. 7,583 7,090 Sigosa Aceros, S.A. de C.V. 7 48,096 Cía. Mexicana de Perfiles y Tubos, S.A. de C.V. 595 595 Industrias Procarsa, S.A. de C.V. 139 156 Ferrovisa, S.A. de C.V. 7,069 7,458 Other 195 188 $ 310,992 $ 312,913 The other accounts payable correspond to services and / or purchases of finished products according to their activity. Loans from related parties: Operadora de Perfiles Sigosa, S.A. de C.V. $ 2,381,464 $ $ 2,381,464 $ $ 2,692,456 $ 312,913 This balance corresponds to a current account loan granted by Operadora de Perfiles Sigosa, S.A. de C.V. (Sigosa), to be invested in Treasury Bonds; the interest derived from said investment upon expiration thereof, will be delivered to Sigosa.

Cost of Sales and Expenses by t

Cost of Sales and Expenses by their Nature	12 Months Ended
	Dec. 31, 2022
Cost of Sales and Expenses by their Nature [Abstract]
Cost of sales and expenses by their nature	21. Cost of sales and expenses by their nature At the years ended at December 31, 2022, 2021 and 2020, the cost of sales and administration expenses consist of the following: 2022 2021 2020 Raw materials and consumables $ 27,080,462 $ 26,298,681 $ 16,343,140 Electrical energy 2,586,918 3,530,134 2,820,667 Ferroalloys 2,232,759 2,396,516 1,617,352 Refractories 767,691 810,315 629,758 Oxygen 297,302 293,217 248,029 Electrodes 542,117 444,201 434,265 Gas and fuels 1,541,817 1,161,994 767,823 Labor 2,272,304 2,024,419 1,831,225 Operation materials 1,366,947 1,339,692 1,033,597 Depreciation and amortization 1,116,872 1,175,108 1,452,271 Maintenance 1,250,897 1,561,716 1,262,728 Other expenses 1,084,475 974,835 2,790,197 $ 42,140,561 $ 42,010,828 $ 31,231,052 2022 2021 2020 Cost of sales $ 39,683,861 $ 39,968,186 $ 29,211,724 Administrative expenses 2,456,700 2,042,642 2,019,328 $ 42,140,561 $ 42,010,828 $ 31,231,052

Other income (expenses), net

Other income (expenses), net	12 Months Ended
	Dec. 31, 2022
Other income (expenses), net
Other income (expenses), net	22. Other income (expenses), net The components of other income (expenses) net, in the years ended December 31, 2022, 2021 and 2020, are the following: 2022 2021 2020 Cancellation of balances $ $ (157,834 ) $ Land treatments in Pacific Steel, Inc. (3,327 ) (2,088 ) (2,708 ) Attorney’s fees Bad debt estimate (21,983 ) (19,398 ) Other expenses (25,310 ) (179,320 ) (2,708 ) Sale of scrap 2,450 9,993 232,157 Recovery of losses 327 9,623 Brazil tax benefits 256,698 Update of balances in favor in taxes 85,597 64,915 Agreements with clients 27,869 Other income 8,781 17,383 32,733 Other income 97,155 101,914 549,457 Other income and other (expenses), net $ 71,845 $ (77,406 ) $ 546,749

Financial Instruments

Financial Instruments	12 Months Ended
	Dec. 31, 2022
Financial instruments [Abstract]
Financial instruments	23. Financial instruments a. Capital risk management b. Market risk c. Foreign exchange risk management December 31, 2022 2021 Short - term assets $ 28,953,307 $ 20,783,197 Short - term liabilities 10,367,193 8,434,451 Net monetary asset position in foreign currency $ 18,586,114 $ 12,348,746 Equivalent in U.S. Dollars (thousands) USD$ 959,952 USD$ 601,917 d. Credit risk management Trade receivables consist of a large number of customers dedicated to construction and automotive industries, distributed in different geographic areas. Ongoing credit evaluation is performed on the financial condition of accounts receivable. The Company does not have significant credit risk exposure with any single counterparty or any group of counterparties having similar characteristics. The Company defines that the counterparties that have similar characteristics are considered related parties. Concentration of credit risk to any other counterparty did not exceed 5% of gross monetary assets at any time during the year. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies. e. Liquidity risk and risk tables (In thousands of US dollars) December 31, 2022 2021 Bank loans credit lines: Drawn balances $ 200,000 $ 350,000 Undrawn balances 169,035 183,942 Available line balance $ 30,965 $ 166,058

Financial Information by Segmen

Financial Information by Segments	12 Months Ended
	Dec. 31, 2022
Financial Information by Segments [Abstract]
Financial information by segments	24. Financial information by segments The Company analyses its information by region, due to the operational structure and the organization of its business. Information used for making decisions is based on such regions. The Company’s sales are made in Mexico, the United States of America and Brazil. The Mexican segment includes the plants in Mexicali, Guadalajara, Tlaxcala and San Luis Potosi. The USA segment includes seven Republic plants six of which are located in the United States (Ohio, Indiana and New York) and one in Canada (Ontario). The plant in Canada stopped operating in 2018. The Brazilian segment includes the plants in Pindamonhangaba, Cariacica and Itaúna. The segments are engaged in the manufacturing and sale of long steel products intended mainly for the building and automotive industries. Year ended December 31, 2022 Mexico USA Brazil Eliminations Total Net sales $ 30,914,890 $ 5,867,193 $ 17,377,164 $ $ 54,159,247 Cost of sales (21,575,758 ) (5,764,239 ) (12,343,864 ) (39,683,861 ) Gross profit (loss) 9,339,132 102,954 5,033,300 14,475,386 Administrative expenses (1,096,330 ) (286,611 ) (1,618,151 ) 544,392 (2,456,700 ) Other income (expenses), net (71,202 ) 1,015,586 140,205 (1,012,744 ) 71,845 Interest income and dividends 415,704 30,175 445,879 Interest expense (485 ) (55,867 ) (383,646 ) 383,646 (56,352 ) Loss on financial instruments (778,649 ) (778,649 ) Exchange rate gain (loss), net (540,770 ) (58 ) (60,625 ) 60,625 (540,828 ) Income (loss) before income taxes 7,267,400 806,179 3,111,083 (24,081 ) 11,160,581 Income taxes (2,565,834 ) (88,679 ) (645,009 ) (3,299,522 ) Net income (loss) for the year $ 4,701,566 $ 717,500 $ 2,466,074 $ (24,081 ) $ 7,861,059 Depreciation and Amortization $ 627,078 $ 236,601 $ 253,193 $ 1,116,872 Total assets 44,025,917 12,930,111 14,149,332 $ (3,472,457 ) 67,632,903 Total liabilities 8,375,028 7,243,113 7,492,843 (3,472,457 ) 19,638,527 Acquisitions of property, plant and equipment 151,783 252,116 1,292,586 1,696,485 Year ended December 31, 2021 Mexico USA Brazil Eliminations Total Net sales $ 29,678,133 $ 8,216,595 $ 17,725,628 $ $ 55,620,356 Cost of sales (21,337,462 ) (7,159,354 ) (11,471,370 ) (39,968,186 ) Gross profit (loss) 8,340,671 1,057,241 6,254,258 15,652,170 Administrative expenses (907,798 ) (256,875 ) (877,969 ) (2,042,642 ) Other income (expenses), net (77,530 ) 454,303 1,793 (455,972 ) (77,406 ) Interest income 65,631 317 65,948 Interest expense (28,904 ) (61,494 ) (96,486 ) 99,439 (87,445 ) Exchange rate gain (loss), net 325,389 (378 ) (120,300 ) 120,300 325,011 Income (loss) before income taxes 7,717,459 1,193,114 5,161,296 (236,233 ) 13,835,636 Income taxes (2,472,751 ) (477,380 ) (1,439,638 ) (4,389,769 ) Net income (loss) for the year $ 5,244,708 $ 715,734 $ 3,721,658 $ (236,233 ) $ 9,445,867 Depreciation and amortization $ 667,167 $ 270,119 $ 237,822 $ 1,175,108 Total assets 47,917,643 10,836,083 8,815,051 $ (10,226,205 ) 57,342,572 Total liabilities 7,828,384 5,544,135 12,396,190 (10,226,205 ) 15,542,504 Acquisitions of property, plant and equipment 367,496 288,487 410,439 1,066,422 Year ended December 31, 2020 Mexico USA Brazil Eliminations Total Net sales $ 19,660,889 $ 5,549,366 $ 10,659,059 $ $ 35,869,314 Cost of sales (15,459,258 ) (5,677,213 ) (8,075,253 ) (29,211,724 ) Gross profit (loss) 4,201,631 (127,847 ) 2,583,806 6,657,590 Administrative expenses (1,117,817 ) (240,726 ) (660,785 ) (2,019,328 ) Other income (expenses), net 52,656 505,946 (11,854 ) 546,749 Interest income 107,605 222 0 107,826 Interest expense (5,108 ) (16,104 ) (66,007 ) 33,473 (53,746 ) Exchange rate gain (loss), net (483,822 ) 1,510 (1,096,416 ) 1,215,564 (363,164 ) Income before income taxes 2,755,145 123,001 748,744 1,249,037 4,875,927 Income taxes 1,747,568 118,926 211,350 2,077,844 Net income for the year $ 1,007,577 $ 4,075 $ 537,394 $ 1,249,037 $ 2,798,083 Depreciation and Amortization $ 693,362 $ 332,186 $ 426,723 $ 1,452,271 Total assets 33,386,043 9,237,831 5,807,121 $ (2,927,348 ) 45,503,647 Total liabilities 6,944,579 4,797,682 3,670,075 (2,927,348 ) 12,484,988 Acquisitions of property, plant and equipment 278,700 41,054 631,451 951,205

Contingencies

Contingencies	12 Months Ended
	Dec. 31, 2022
Contingencies Disclosure [Abstract]
Contingencies	25. Contingencies As of December 31, 2022, the Company has the following contingencies: a. Pacific Steel, Inc. (PS), a subsidiary located in National City in San Diego County, California, United States of America, for which the main activity is the purchase and sale of scrap, has the following environmental contingencies: California Department of Toxic Substances Control On September 2002, the Department of Toxic Substances Control (DTSC) inspected PS facilities based on an alleged complaint from neighbors due to PS’s excavating to recover scrap metal on its property and on a neighboring property, which PS rents from a third party (BNSF Railway). In this same month, DTSC issued an enforcement order of imminent and substantial endangerment determination, which alleges that certain soil piles, soil management and metal recovery operations may cause an imminent and substantial danger to human health and the environment; consequently, DTSC sanctioned PS for violating Hazardous Waste Control Laws in the State of California and imposed the obligation to remedy the site. On July 26, 2004, in an effort to continue with this order, DTSC filed against PS a Complaint for Civil Penalties and Injunctive Relief in San Diego Superior Court. On July 26, 2004, the court issued a judgment, whereby PS was obligated to pay USD$ 0.2 million, which has been paid. On June 6, 2010, the DTSC and the San Diego Department of Environmental Health (DEH) inspected the facilities of PS, in response to a general complaint. On August 10, 2010 DTSC and DEH conducted a second inspection and found seven infractions. The DEH is satisfied with the compliance of PS on those issues; however, on October 19, 2010 the technical division of the DTSC recommended to the legal division of DTSC that it impose significant penalties. The land remediation was suspended at the beginning of 2011 due to the inefficiency of the process, which was verified by several studies. As an alternative, once the necessary permits were obtained from the authorities in Mexico, the Mexicali plant began the process of importing non-RCRA soil for final disposal in a secure landfill based in Nuevo Leon State. This landfill is deposited after the separation of the metal content, which is used as raw material in the melting process. PS has completed the shipment of non-RCRA soil for final disposal in Nuevo Leon State. The disposition of a stack estimated at 8,000 tons of material classified RCRA (hazardous for Federal purposes) was also considered for shipment to Mexico. The process began in early 2013, but the response from the authorities was slow. Therefore, on April 9, 2015, a letter from the California Attorney General Department of Justice (Attorney General) was received where PS is required to, in the absence of obtaining permission from the Mexican authorities; present a program for transport the pile of contaminated soil classified as RCRA to an authorized confinement in the United States at the latest on April 22, 2015. This letter warned that PS must ship the RCRA soil no later than July 9, 2015, or risk DTSC proceeding with a civil lawsuit seeking the maximum amount of fines established by law and corresponding legal redress. On April 21, 2015, PS sent a letter to the Attorney General explaining that the authorities in Mexico had not denied permission to the Company but had simply requested that it present its application in a different format, which had already been presented and reviewed by the authority on April 17, 2015. On July 23, 2015, the Attorney General denied the extension requested by PS and demanded the immediate shipments of the RCRA stack to an authorized landfill. PS began transporting RCRA soil on July, 29, 2015, and completed removal of the RCRA stack by September 12, 2015 with a total of 3,000 metric tons. On January 5, 2016, the Attorney General and PS stipulated to filing a “final judgment and order on consent” or Consent Judgment in San Diego Superior Court. The parties negotiated the Consent Judgment, which includes the following terms: - PS to pay USD$ 0.138 million as a civil penalty for alleged violations of the 2004 Corrective Action Consent Agreement. PS has made all of the required payments to DTSC as of December 31, 2017. - Remove the RCRA soil pile and send it to an approved landfill. The Judgment indicates that the Company complied with this commitment by October 2, 2015. - After eliminating the soil pile of RCRA, the Company should take samples of the floor in which it was located. Samples were taken and the results indicate that the floor had pollution levels that exceeded the limits established by Government. In April 7, 2016, the General Prosecutor and the DTSC required that the Company would turn over the floor ten feet wide and two feet down in the perimeter of the area in which was located the soil pile RCRA and to dispose it in an approved confinement. In turn, PS convinced to DTSC to reach a Turnpike Agreement at august 10, for which would be paid during two years (up to August 10, 2018). The Agreement was extended, as of August 10, 2018, for a two years additional period, in force up to August 10, 2020. These Agreement had another extension, in force up to August 10, 2021. And has not been renewed. - The Company shall continue to meet the conditions of the final judgment, the corrective measures, and all tasks arising from this, which were entered in the same court in 2004. On May 29, 2019, the company submitted a proposal with a new work plan (IM Work Plan) to DTSC to conduct soil remediation on the BNSF Railway lease. On October 21, 2021, The Company submitted the final draft of the IM work plan which DTSC has agreed to that proposal or work plan, on May 31, 2022. No litigation was filed against the DTSC approval which is now final. On December 6, 2022, the DTSC sent a letter requesting a preliminary study and a work plan implementation schedule, both documents were delivered on February 3, 2023. DTSC has not responded to either document. On January 13, 2023, BNSF Railway issued a contract termination notice to PS, notifying BNSF’s unilateral termination of two lease contracts with PS which ended on February 12 and 22, 2023, through its legal counsel informed PS that no longer has access to BNSF Railway property. DTSC is entering into a voluntary agreement with BNSF to implement a work plan. As of the date of this report, we cannot estimate the costs of implementing the work plan of the provisional measures due to the uncertainty of whether BNSF or PS will implement the work and the DTSC authorizations to whom they designate and their approval date. b. As with most steel producers in United States of America, Republic could incur significant costs related to environmental issues in the future, including those arising from environmental compliance activities and remediation stemming from historical waste management practices at the Republic’s facilities. The reserve created to cover probable environmental liabilities of USD$ 2.5 million, USD$ 2.5 million and USD$ 2.5 million were recorded as of December 31, 2022, 2021 and 2020, respectively. The reserve includes incremental direct costs of remediation efforts and post-remediation monitoring costs that are expected to be paid after corrective actions are complete. As of December 31, 2022, 2021 and 2020, the current and non-current portions of the reserve amounted to USD$ 1.0 million, USD$ 1.0 million and USD$ 1.5 million, respectively, are included payable and accumulated liabilities in the short and long term, respectively, in the Consolidated Statements of Financial Position. c. The Company is not aware of any material environmental remediation liabilities or contingent liabilities relating to environmental matters with respect to facilities, for which the establishment of an additional reserve would be necessary at this time. In the event that, in the future, the Company incurs in any such additional expenses, these costs will most likely be incurred over a number of years. However, future regulatory action regarding historical waste management practice in the facilities of Republic PS and future changes in applicable laws and regulations may require the Company to incur significant costs that may have a material adverse effect on the future financial performance of the Company. d. The Company is involved in a series of lawsuits and legal claims that have arisen during the normal course of its operations. The Company and its legal advisors do not expect the outcome of these matters to have any significant adverse effect on the Company’s financial position and results of operations, therefore it has not been recognized any liabilities for such lawsuits and claims. e. Mexican tax authorities have the right to review, at least the previous five years and could determine differences in taxes payable, plus any corresponding adjustments, surcharges and fines. f. Tax authorities in the United States of America have the right to review, at least the previous three years and could determine differences in taxes payable, plus its corresponding adjustments, surcharges and fines. g. Canadian tax authorities have the right to review, at least the previous four years and could determine differences in taxes payable, plus its corresponding adjustments, surcharges and fines. h. Brazilian tax authorities have the right to review, at least the previous five years and could determine differences in taxes payable, plus its corresponding adjustments, surcharges and fines. i. On September 5, 2017, Grupo Simec and GV do Brasil were notified of the arbitration procedure filed by SMS Concast at the International Court of Arbitration (ICC), which demands the payment of USD $ 1.4 million plus expenses, for additional costs incurred in the construction and assembly of the steelmaking area of the Brazilian plant. On November 6, 2017, the companies of the Group replied to the demand and filed a counterclaim against SMS Concast for the amount of USD $ 5 million, which GV do Brasil utilized on the equipment to work properly. On February 26, 2020, The company was notified of the judgment. In March 2021, it was agreed with the actor to conclude the matter by paying USD $ 450 thousand dollars, after several changes of dates, the payment was made on July 8, 2021. j. Related to Republic Steel’s audits of GST for the periods 2015-2016 and 2017-2018 made by the Canadian Revenue Agency (CRA), amounts of USD $4,178,517 plus interest for the period 2015-2016 and USD $6,372,306 plus interest for the period 2017-2018 were determined by the CRA. The Company presented a notice of objection for the 2015-2016 period on September 2018 and another for the 2017-2018 period on March 2021. This matter was settled during the year ended December 31, 2021. k. In connection with a sale and use tax audit by the Ohio Department of Taxes covering the period from January 1, 2009 to December 31, 2012, an assessment of $ 2,452,028 (including interests of $ 394,138) against the Company was issued, on December 9, 2016. Republic also received an appraisal notice dated December 11, 2020 for $1,631,827 (including interest of $339,885) covering the period January 1, 2014 to September 30, 2018. The Company does not agree with the evaluation in its entirety and has filed Reevaluation Petitions on January 30, 2017, on February 9, 2022 and on September 2022, appealing the assessment to the Ohio Board of Tax Appeals. As of the date of this report, no resolution has been obtained on this appeals. Due to the nature of this matter and the uncertainty of the resolution on the appeal that is in the early stages, the Company has not recorded an expense in the fiscal year 2022, 2021 or 2020 that recognizes the evaluation or any estimated amount of liquidation.

Commitments

Commitments	12 Months Ended
	Dec. 31, 2022
Commitments [Abstract]
Commitments	26. Commitments a. On May 1, 2018, the Company signed a contract with ArcelorMittal S.A. in Brazil, for the acquisition of Cariacica and Itauna steels for rent, producing plants and wire drawing equipment for the production of wires and derivatives. The Cariacica unit has the capacity to produce 600 thousand metric tons of liquid steel per year and 450 thousand metric tons of rolled steel products. This plant has in 2021 and 2020 more than 800 and 500 employees in 2019, and can produce rod and light structural profiles. The factory is located in the city of Cariacica, next to the city of Victoria, in the state of Espírito Santo on a land of more than 1,200,000 square meters. The Itauna unit has an installed capacity to produce 120 thousand metric tons per year of steel laminate products and can manufacture light structural profiles and rods. The plant is located in the city of Itauna in the state of Minas Gerais, less than 100 kilometers away from Belo Horizonte and in 2022, 2021 and 2020 has 160,145 and 114 employees, respectively. The factory was leased under a contract expiring in August 2020. After its expiration, the plant was acquired. b. Republic leases certain equipment, office space and computer equipment under non-cancelable operating leases. The leases expire at various dates through 2020. During the years ended December 31, 2022, 2021 and 2020, rental expenses relating to operating leases amounted to USD$ 0.0, USD$ 0.0 million, and USD$ 0.1 million, respectively. Currently there are no additional obligations post-2020. c. In January 2013, The Company reached a contract with EnerNOC, which allows Republic to receive payments for reduction in the electric energy consumption during a term declared by PJM Interconnection as an Emergency. The contract is for 5 years starting at January 31, 2013 and concluded at May 31, 2018. At that date, the Agreement was extended up to May 31, 2021.In January 2021, the company entered into a similar agreement with NRG Curtailment Solutions, Inc. with a term of five years. The Company recognized an income for both contracts in 2022, 2021 and 2020 for USD $ 0.6 million, USD$ 1.2 million and USD $ 1.1 million, respectively. d. On February 22, 2018, a contract was signed with Primetals Technologies of Italy, United States of America and Mexico, for the construction of the Lamination train and the supply of a new reheating furnace for the Mexicali plant, thereby increasing capacity manufacturing for the manufacture of finished product from 17,500 to 22,500 tons per month. From January 2021, flat bars are being produced. As of today, some adjustments are being made to start the production of rebar in May 2021, and light structures in June 2021. Naturally, the COVID pandemic delayed significantly the process. USD $24 million from budget has already been spent. e. In order to maintain and increase the continuity and quality of the electricity supply in all the Group’s plants, the scheme change from Basic Supply (SSB) to the Qualified Supply Service (SSC), with the provision of acquiring energy in the wholesale electricity market. With the implementation of this project, which only requires the modernization of the set of equipment that records the consumption measurements of the electrical substations of each plant, it seeks to achieve a more efficient, safe, clean and transparent electrical service and more competitive prices than those current. The cost of this project as of October is USD$1 million 415 thousand, and the only thing missing is the installation in Mexicali due to the lack of conditions in the wholesale electricity market. f. On December 20, 2020, we purchased the Itauna plant by Cia. Siderúrgica de Espirito Santo, S.A. to Compañia Itaunense Energia y Participacoes Inmueble y Equipo Inmueble, located on Rua Clara Chaves at villa Santa Maria, Itauna city, committing to pay R$ 4.0 million reais per month, up to a total value of R$ 105.0 million reais, such payments have to be made until June 2022. g. For our Brazil’s facilities electric energy purchase agreements have been made with different termination dates as of June 30, 2023 with the supplier Newcom for R$9.48 million, another agreement was celebrated with ENEL for R$17.05 million, with termination date on December 31, 2023. With energy suppliers NEWCOM for R$ 33.9 million and AMERICA for R$16.5 million.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2022
Subsequent Events [Abstract]
Subsequent events	27. Subsequent events Our company actively conducts ongoing reviews of our commercial practices in Mexico and other countries to avoid, as much as possible, the imposition of tariff rates on our products. On January 16, 2020, a preliminary tariff of 6.75% was imposed on our corrugated rod exports to the United States of America. After the review from their Department of Commerce (DOC), the tariff was reduced to 1.46%. after the review from the Department of Commerce (DOC), the Company did not participate in the period of November 1, 2018 to October 31, 2019, The dumping rate that was established was 4.93% published in September 2021 for which the company made a payment of USD $ 189 thousand dollars on March 30, 2022. On January 6, 2021, the dumping review process began for the period from November 1, 2019 to October 31, 2020. On November 30, 2021, the DOC published a preliminary dumping rate for the Company of 66.70% arguing and/or justifying deficiencies in the information, the Company decided to appeal this result. The appeal is in process. On December 7, 2022, the US Department of Commerce (USDOC) published in the Federal Register the rate of 6.35% as a preliminary result of the antidumping process for rebar producers and exporters, in the period from November 1, 2020 to October 31, 2021, the final result must be published by the USDOC no later than June 2023, so the company will be subject to the payment of this countervailing fee for rebar exports for one year.

Consolidated Financial Statemen

Consolidated Financial Statements Issuance	12 Months Ended
	Dec. 31, 2022
Consolidated Financial Statements Issuance [Abstract]
Consolidated financial statements issuance	28. Consolidated financial statements issuance These consolidated financial statements have been issued on April 28, 2023 by Ing. Rufino Vigil Gonzalez and C.P. Mario Moreno Cortez, General Director and Financial Coordinator of Grupo Simec, S.A.B. de C.V., for the approval of the Audit Committee and, where appropriate, by the Board of Director.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Conversion of foreign subsidiaries financial statements	a. Conversion of foreign subsidiaries financial statements The Effects of Changes in Foreign Exchange Rates The U.S. dollar (US Dollar or USD$) was considered as the functional currency of all the U.S. subsidiaries and Brazilian real for subsidiaries established in Brazil; therefore, the financial statements of these subsidiaries abroad were converted to Mexican pesos applying: - The exchange rates at the balance sheet date, to all assets, liabilities and stockholder´s equity. - The historical exchange rate at revenues, costs and expenses. The conversion differences are carried directly to the consolidated statements of comprehensive income as other comprehensive income under the caption translation effects of foreign subsidiaries. Relevant exchange rates used in the conversion of the financial statements of foreign subsidiaries were as follows (Mexican pesos per one U.S. dollar): Current exchange rate as of December 31, 2022 19.36 Current exchange rate as of December 31, 2021 20.52 Average exchange rate for the year ended December 31, 2022 (*) 20.12 Average exchange rate for the year ended December 31, 2021 (*) 20.28 Current exchange rate as of April, 28, 2023 18.10 (*) Average exchange rate used to translate revenues, costs and expenses of the companies mentioned above.
Business combinations	b. Business combinations At the date of acquisition, the identifiable assets acquired and the liabilities assumed are recognized at their fair value, except: - Deferred tax assets or liabilities and liabilities or assets related to employee benefit arrangements, which are recognized and measured in accordance with IAS 12, Income Taxes, Employee Benefits, - Assets (or disposal groups) that are classified as held for sale in accordance with IFRS 5, Non- Assets Held for Sale and Discontinued Operations, Any excess of the cost of acquisition for the Group’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the associated company recognized at the date of acquisition is recognized as goodwill. Goodwill is included in the carrying amount of the investment and is assessed for impairment annually. Any excess of the Group’s interest in the net fair value of the assets, liabilities and contingent liabilities over the cost of acquisition, after the reassessment, is immediately recognized in profit and loss. When the consideration transferred by the Company in a business combination includes assets or liabilities resulting from a contingent consideration arrangement, the contingent consideration is measured at its acquisition-date fair value and later adjustments to the consideration are recognized against goodwill, providing that it has arisen from reliable information on the fair value at the acquisition date and occur during the ‘measurement period’ (which cannot exceed one year from the acquisition date). All other subsequent adjustments are recognized in profit or loss. The subsequent accounting for changes in the fair value of the contingent estimates that do not qualify as measurement period adjustments depends on how the contingent consideration is classified. Contingent consideration that is classified as equity is not remeasured at subsequent reporting dates. Contingencies classified as assets or liabilities are remeasured at subsequent reporting dates in accordance with IAS 37, Provisions, Contingent Liabilities and Contingent Assets When a business combination is achieved in stages, the Company’s previously held equity interest in the acquiree are remeasured to fair value at the acquisition date (i.e. the date when the Company obtains control) and the resulting gain or loss, if any, is recognized in profit or loss. Amounts arising from interests in the acquiree prior to the acquisition date that have been previously recognized in other comprehensive income (loss) are reclassified to profit or loss where such treatment would be appropriate if that interest were disposed of. If the initial accounting for a business combination is incomplete by the end of the reporting period in which the combination occurs, the Company reports provisional amounts for the items for which the accounting is incomplete. Those provisional amounts are adjusted during the measurement period, or additional assets or liabilities are recognized, to reflect new information obtained about facts and circumstances that existed at the acquisition date that, if known, would have affected the amounts recognized at that date.
Cash and cash equivalents and temporary investments	c. Cash and cash equivalents and temporary investments Temporary investments in equity instruments are measured at the fair value prevailing at the date of the financial statements. Subsequent changes in the fair value are recognized in profit or loss.
Allowances for doubtful accounts	d. Allowances for doubtful accounts
Inventories and cost of sales	e. Inventories and cost of sales The Company classifies raw material inventory in the Consolidated Statements of Financial Position based on its expected consumption period, presenting as long-term inventories those which in accordance with historical data and production trends will not be consumed in the short-term (one year). The Company classifies as long-term inventory certain parts and rollers that, according to historical data and trends, showing that such inventories will not be consumed in the short-term. The Company utilizes coke, a form of coal, as a raw material input to fuel its blast furnace which has been inactive in Lorain, Ohio USA plant (see Note 9). The Company has 136,246 metric tons (MT) of coke inventory valued at 1,237 million Mexican pesos (average of USD$ 469.0/MT) on hand at December 31, 2022 and 136,541 MT of coke inventory valued at 1,304 million Mexican pesos (average of USD$ 465.5/MT) on hand at December 31, 2021 that is classified as long-term in the accompanying Consolidated Statements of Financial Position. The Company follows the practice of providing a reserve for slow-moving inventory, considering the total of products and raw materials (including coke) with a turnover above one year, which is recorded in the statement of financial position and against account is the cost of sales. The cost of sales of the Company includes inventory costs, outbound freight charges, purchasing and receiving costs, inspection costs, and warehousing costs in cost of goods sold. Vendor payment incentives are recorded as a reduction to cost of goods sold.
Property, plant and equipment	f. Property plant and equipment r An item of property, plant and equipment is derecognized upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Any gain or loss arising on the disposal or retirement of an item of property, plant and equipment is determined as the difference between the sales proceeds and the carrying amount of the asset and is recognized in profit or loss. The initial estimated useful lives of the Company’s main assets are as follows: Years Buildings 10 to 65 Machinery and equipment 5 to 40 Transportation equipment 4 Furniture, chattels and computer equipment 3 to 10 Repair and maintenance costs that significantly increase productive capacity or extend the useful lives of existing plant and equipment are capitalized. Supplies, comprising of spare parts and consumables for internal use are classified under property, plant and equipment and expensed as incurred in the manufacturing process. All other repair and maintenance costs are expensed as incurred. Capital expenditures for projects that cannot be put into use immediately are included in constructions and machinery in-progress. When constructions and machinery in-progress are completed, they are transferred to depreciable assets.
Leases	g. Leases
Costs for loans	h. Costs for loans Investment income earned on the temporary investment of specific loans pending their expenditure on qualifying assets is deducted from the costs for loans eligible for capitalization. All other costs for loans are recognized in profit or loss in the period in which they are incurred.
Intangible assets	i. Intangible assets Expenditure on research activities is recognized as an expense in the period in which it is incurred. An internally-generated intangible asset arising from development (or from the development phase of an internal project) is recognized if, and only if, all of the following have been demonstrated: - The technical feasibility of completing the intangible asset so that it will be available for use or sale; - The intention to complete the intangible asset and use or sell it; - The ability to use or sell the intangible asset; - How the intangible asset will generate probable future economic benefits; - The availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset; and - The ability to measure reliably the expenditure attributable to the intangible asset during its development. The amount initially recognized for internally-generated intangible assets is the sum of the expenditure incurred from the date when the intangible asset first meets the recognition criteria listed above. Where no internally-generated intangible asset can be recognized, development expenditure is recognized in profit or loss in the period in which it is incurred. Subsequent to initial recognition, internally-generated intangible assets are reported at cost less accumulated amortization and accumulated impairment losses, on the same basis as intangible assets that are acquired separately. Intangible assets acquired in a business combination and recognized separately from goodwill are initially recognized at their fair value at the acquisition date (which is regarded as their cost). Subsequent to initial recognition, intangible assets acquired in a business combination are reported at cost less accumulated amortization and accumulated impairment losses, on the same basis as intangible assets that are acquired separately. An intangible asset is derecognized on disposal, or when no future economic benefits are expected from use or disposal. Gains or losses arising from derecognition of an intangible asset, measured as the difference between the net disposal proceeds and the carrying amount of the asset, are recognized in profit or loss.
Goodwill	j. Goodwill
Impairment of tangible and intangible assets other than goodwill	k. Impairment of tangible and intangible assets other than goodwill An impairment loss is recognized immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Where an impairment loss subsequently reverses, the carrying amount of the asset (or a cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset (or cash-generating unit) in prior years. For purposes of allocation of goodwill when there is business combination will be distributed among each of the cash generating units of the acquiring entity, expected synergy benefits. A reversal of an impairment loss is recognized immediately in profit or loss and allocated to the assets of that unit, the carrying amount of an asset other than goodwill attributable to a reversal of an impairment loss of value shall not exceed the carrying amount that would have been obtained if had not recognized an impairment loss in value for the asset in prior periods. Unless the related asset is recognized at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase. The reversal of the impairment loss is recorded on profit and loss, unless the corresponding asset recognizes a restated amount, in which case the reversal of the impairment loss is treated as a restatement increase.
Provisions	l. Provisions The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, it´s carrying amount is the present value of those cash flows.
Employee benefits	m. Employee benefits The retirement benefit liability is determined based on the present value of the defined benefit obligation at the date of the statement of financial position. Any compensation included in the determination of the liability premiums corresponds to seniority premiums for retirement. Actuarial gains and losses are recognized on profit or loss for the year. The retirement benefit liability and the related net cost of the period are determined under the projected unit credit method based on projected salaries and certain assumptions determined by independent actuaries. Liabilities for employee benefits recognized in the consolidated statement of financial position represent the present value of the defined benefit obligation. Republic operates various employee benefit plans. The contributions to these benefit plans are either contractually determined by the terms of a collective bargaining agreement with the United Steelworkers or they are under the terms of a defined contribution plan. Accordingly, the company pays fixed contributions to separate entities and they are expensed in the period in which the employees rendered the services entitling them to the benefits.
Earnings per share	n. Earnings per share
Income taxes	o. Income taxes - Current tax - Deferred tax The carrying amount of deferred tax assets is reviewed at each balance sheet date and reduced by a valuation allowance to the extent that it is no longer probable that sufficient taxable earnings will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are computed using the tax rates that are expected to apply in the period in which the liability is settled or the asset realized, based on tax rates (and tax laws) that have been enacted or substantively enacted by the balance sheet date. The effects of changes in the statutory rates are accounted for in the period that includes the enactment date. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Company expects, at the reporting date, to recover or settle the carrying amount of its assets and liabilities. Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when they relate to income taxes levied by the same taxation authority and the Company intends to settle its current tax assets and liabilities on a net basis. The Company follows the practice of recognizing the benefit from the amortization of acquired or generated tax losses in current earnings that are amortized. - Current and deferred tax for the period - Interests on recoverable tax balances
Foreign currencies	p. Foreign currencies transactions Exchange differences are recognized in profit or loss in the period in which they arise except for: - Exchange differences on foreign currency borrowings relating to assets under construction for future productive use, which are included in the cost of those assets and are recorded as an adjustment to interest costs on those foreign currency borrowings; - Exchange differences on transactions entered into in order to hedge certain foreign currency risks; and - Exchange differences on monetary items receivable from or payable to a foreign operation for which settlement is neither planned nor likely to occur (therefore forming part of the net investment in the foreign operation), which are recognized initially in other comprehensive income and reclassified from equity to profit or loss on sale of all or part of the net investment.
Financial instruments	q. Financial instruments Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognized immediately in profit or loss.
Financial assets	r. Financial assets Financial assets at amortized cost Financial assets are measured at amortized cost when the objective of holding the financial assets is to obtain contractual cash flows, and the contractual terms of the financial asset give rise on specified dates to cash flows that are only payments of principal and interest on the principal amount. Financial assets are initially recognized at fair value plus transaction costs and subsequently recorded at amortized cost using the effective interest rate method, with changes in carrying value recognized in the statement of income. They are included in current assets except for maturities greater than 12 months from the closing date, which are included in non-current assets. The Group’s financial assets, measured at amortized cost, are mainly presented as “Trade accounts and notes receivable”, “Other accounts and notes receivable”, and “Accounts receivable from related parties” in the consolidated statement of financial position. Financial assets at fair value through OCI These are financial assets held for the purpose of obtaining contractual cash flows and the sale of the financial assets, and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount. The Company’s investments in certain equity instruments have been designated to be measured at fair value through OCI in accordance with MFRS 9. In connection with this designation, any amount presented in OCI will not be transferred to the consolidated statement of income. Dividends on these equity instruments are recognized in the consolidated statement of income when the right to pay the dividend is established, and it is probable that such dividend will be paid to the Company. Financial assets at fair value through profit or loss These are financial assets held for trading. A financial asset is classified in this category if it is acquired for the purpose of selling in the near term. Derivative financial instruments are also included in this category unless they are designated as hedging instruments. Assets in this category are classified as current assets if they are expected to be settled within 12 months, otherwise they are classified as non-current assets. Derecognition The Group assesses the expected credit losses associated with its financial assets recorded at fair value through OCI. The applicable impairment method depends on whether there has been a significant increase in credit risk. For notes and trade receivables, the Company applies a simplified approach permitted by MFRS 9, which requires that expected losses over the life of the asset be recognized upon initial recognition of the notes and trade receivables
Financial liabilities	s. Financial liabilities Financial liability at fair value with changes through profit or loss is a financial liability classified as held for trading or it is designated as at fair value with changes through profit or loss. A financial liability is classified as held for trading if: - It has been acquired principally for the purpose of repurchasing it in the near term; - On initial recognition, it is part of a portfolio of identified financial instruments that the Company manages together and has a recent actual pattern of short-term profit-taking; or - It is a derivative that has not been designated as a hedging instrument and fulfils the condition to be effective. A financial liability other than a financial liability held for trading may be designated as at fair value through profit or loss upon initial recognition if: - Such designation eliminates or significantly reduces a measurement or recognition inconsistency that would otherwise arise; or - The yield of a group of financial assets, financial liabilities or both, is administered and assessed based on its fair value, according to an investment strategy or risk management that the Company has documented and provided internal information over that group, based on its fair value; or - It forms part of a contract containing one or more embedded derivatives, and IAS 39, Financial Instruments: Recognition and Measurement, - Financial liabilities at fair value through profit or loss are recorded at fair value, with any gains or losses arising on remeasurement recognized in profit or loss. The net gain or loss recognized in profit or loss incorporates any interest paid on the financial liability and is included in the ‘other gains and losses’ line item in the consolidated statement of comprehensive income. - Other financial liabilities including borrowings are subsequently measured at amortized cost using the effective interest method. The effective interest method is a method of calculating the amortized cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments through the expected life of the financial liability, or (where appropriate a shorter period), to the net carrying amount on initial recognition. - The Company derecognizes financial liabilities when, and only when, the Company’s obligations are discharged, cancelled or expire. The difference between the carrying amount of the financial liability derecognized and the consideration paid and payable is recognized in profit or loss at that time.
Derivative financial instruments	t. Derivative financial instruments These derivatives are initially recognized at fair value at the date the derivative contracts are entered into and subsequently are remeasured to the fair value at the end of reporting period. The resulting gain or loss is recognized in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship. To mitigate the risks associated with changes in natural gas prices occurring naturally as a result of the supply and demand on international markets, the Company uses natural gas cash-flow exchange contracts or natural gas swaps to offset fluctuations in the price of natural gas, whereby the Company receives a floating price and pays a fixed price. Fluctuations in natural gas prices from volumes consumed are recognized as part of the Company’s operating cost. At the inception of the hedge relationship, the Company documents the relationship between the hedging instrument and the hedged item, along with its risk management objectives and its strategy for undertaking various hedge transactions. Furthermore, at the inception of the hedge and on an ongoing basis, the Company documents whether the hedging instrument is highly effective in offsetting exposure to changes in fair values or cash flows of the hedged item attributable to the hedged risk. The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow hedges is recognized in other comprehensive income and accumulated under the heading of fair value of derivative financial instruments, The Company periodically evaluates the changes in cash flows of the derivative instrument to analyze if the swaps are highly effective for mitigating the exposure to natural gas price fluctuations. A hedge instrument is considered to be highly effective when changes in its fair value or cash flows of the primary position are compensated on a regular or cumulatively basis, by changes in fair value or cash flows of the hedging instrument in a range between 80% and 125%. Amounts previously recognized in other comprehensive income are reclassified to profit or loss in the periods when the hedged item is recognized in profit or loss, in the same line of the consolidated statement of comprehensive income as the recognized hedged item. However, when the hedged forecasted transaction results in the recognition of a non-financial asset or a non-financial liability, the gains and losses previously accumulated in equity are transferred from equity and included in the initial measurement of the cost of the non-financial asset or non-financial liability. Hedge accounting is discontinued when the Company revokes the hedging relationship, when the hedging instrument expires or is sold, terminated, or exerted, or when it no longer qualifies for hedge accounting. Any gain or loss accumulated from the hedge instrument that had been recognized in other comprehensive income and accumulated in equity at that time remains in equity until the forecast transaction is ultimately recognized in profit or loss. When a forecast transaction is no longer expected to occur, the gain or loss accumulated in equity is recognized immediately in profit or loss.
Revenue from contracts with customers	u. Revenue from contracts with customers Sale of goods Revenue from products sales manufactured by the Company (“the products”) is recognized at the point in time when control of the asset is transferred to the customer, normally generally on delivery of the parts. The normal credit term is 30 to 90 days upon delivery. The Company does not have any obligations to be fulfilled in the contracts, which are obligations to be fulfilled separately and in which a portion of the transaction price should be allocated, other than the delivery of products confirming to the specifications of a customer purchase order. When determining the transaction price for the sale of products, the Company would consider the possible effects of the variable consideration, the existence of important financing components, the consideration other than cash and the consideration payable to the client. Contract assets A contract asset is the right to consideration in exchange for goods or services transferred to the customer. If the Company performs an obligation by transferring goods or services to a customer before the customer pays consideration or before payment is due, a contract asset is recognized for the earned consideration that is conditional. Accounts receivable A receivable represents the Company’s right to an amount of consideration that is unconditional (i.e., only the passage of time is required before payment of the consideration is due). Contract liabilities and advances from customers A contract liability is the obligation to transfer the control over goods or services to a customer for which the Company has received consideration (or an amount of consideration is due) from the customer. If a customer pays consideration before the Company transfers goods or services to the customer, a contract liability is recognized when the payment is due, and an advance from customers when the payment is made. Contract liabilities (or advance from customer) are recognized as revenue when the Company performs its performance obligations under the contract.
Financial information by operating segment	v. Financial information by operating segment
Environmental liabilities	w. Environmental liabilities
Cost of sales and expenses by function	x. Cost of sales and expenses by function

Basis of Preparation and Pres_2

Basis of Preparation and Presentation of the Consolidated Financial Statements (Tables)	12 Months Ended
	Dec. 31, 2022
Basis of Preparation and Presentation of the Consolidated Financial Statements [Abstract]
Schedule of subsidiaries	Percentage of equity owned 2022 2021 Subsidiaries established in Mexico: Compañía Siderúrgica de Guadalajara, S.A. de C.V. 99.99 % 99.99 % Arrendadora Simec, S.A. de C.V. 100.00 % 100.00 % Simec International, S.A. de C.V. 100.00 % 100.00 % Compañía Siderúrgica del Pacifico, S.A. de C.V. 99.99 % 99.99 % Coordinadora de Servicios Siderúrgicos de Calidad, S.A. de C.V. (7) 100.00 % 100.00 % Industrias del Acero y del Alambre, S.A. de C.V. 99.99 % 99.99 % Procesadora Mexicali, S.A. de C.V. 99.99 % 99.99 % Servicios Simec, S.A. de C.V. 100.00 % 100.00 % Sistemas de Transporte de Baja California, S.A. de C.V. 100.00 % 100.00 % Operadora de Servicios Siderúrgicos de Tlaxcala, S.A. de C.V. (7) 100.00 % 100.00 % Operadora de Metales, S.A. de C.V. (7) 100.00 % 100.00 % Administradora de Servicios Siderúrgicos de Tlaxcala, S.A. de C.V. 100.00 % 100.00 % CSG Comercial, S.A. de C.V. 99.95 % 99.95 % Operadora de Servicios de la Industria Siderúrgica ICH, S.A. de C.V. 100.00 % 100.00 % Corporación Aceros DM, S.A. de C.V. and subsidiaries (1) 100.00 % 100.00 % Acero Transportes San, S.A. de C.V. (1) 100.00 % 100.00 % Simec Acero, S.A. de C.V. 100.00 % 100.00 % Corporación ASL, S. A. de C.V. 99.99 % 99.99 % Simec International 6, S.A. de C.V. (7) 100.00 % 100.00 % Simec International 7, S.A. de C.V. 99.99 % 99.99 % Simec International 9, S.A.P.I. de C.V. 100.00 % 100.00 % Corporativos G&DL, S.A. de C.V. (7) 100.00 % 100.00 % Orge, S.A. de C.V. 99.99 % 99.99 % Siderúrgica del Occidente y Pacifico, S.A. de C.V. 100.00 % 100.00 % RRLC, S.A.P.I. de C.V. 99.99 % 95.10 % Grupo Chant, S.A.P.I. de C.V. 99.99 % 97.61 % Aceros Especiales Simec Tlaxcala, S.A. de C.V. 100.00 % 100.00 % Gases Industriales de Tlaxcala, S.A. de C.V. 100.00 % 100.00 % GSIM de Occidente S.A. de C.V. 100.00 % 100.00 % Fundiciones de Acero Estructural, S.A. de C.V. 100.00 % 100.00 % Siderúrgicos Noroeste, S.A. de C.V. 100.00 % 100.00 % Simec Siderúrgico, S.A. de C.V. 100.00 % 100.00 % Subsidiaries established in foreign countries: SimRep Corporation and Subsidiaries (3) (4) (5) 99.41 % 99.41 % Pacific Steel, Inc. (4) 100.00 % 100.00 % Pacific Steel Projects, Inc. (4) 100.00 % 100.00 % Simec Steel, Inc. (4) 100.00 % 100.00 % Simec USA, Corp. (4) 100.00 % 100.00 % Undershaft Investments, NV. (6) 100.00 % 100.00 % GV do Brasil Industria e Comercio de Aço LTDA (2) 100.00 % 100.00 % Companhia Siderurgica do Espiritu Santo S.A. (2) 100.00 % 100.00 % (1) Companies located in San Luis Potosi. For purposes of this report constitute the “Grupo San”. (2) Companies located in Brazil. (3) ICH owns 0.59% of the shares in this company at December 31, 2022. (4) Companies established in the United States of America, except a subsidiary of SimRep which is established in Canada. (5) SimRep as an individual company has no significant operations or assets, except for its investment in Republic Steel. For purposes of this report, these companies are named “Republic”. (6) Company established in Curaçao. (7) Companies that have lost the entire capital stock, except Operadora de Metales, S.A. de C.V. and which only has lost 2/3 of their capital stock.
Schedule of relevant exchange rates used	Current exchange rate as of December 31, 2022 19.36 Current exchange rate as of December 31, 2021 20.52 Average exchange rate for the year ended December 31, 2022 (*) 20.12 Average exchange rate for the year ended December 31, 2021 (*) 20.28 Current exchange rate as of April, 28, 2023 18.10 (*) Average exchange rate used to translate revenues, costs and expenses of the companies mentioned above.
Schedule of estimated useful lives of assets	Years Buildings 10 to 65 Machinery and equipment 5 to 40 Transportation equipment 4 Furniture, chattels and computer equipment 3 to 10

Cash and Cash Equivalents and_2

Cash and Cash Equivalents and Other Investments (Tables)	12 Months Ended
	Dec. 31, 2022
Cash and cash equivalents and other investments [Abstract]
Schedule of Cash and cash equivalents	December 31, 2022 2021 Cash $ 4,040,351 $ 2,065,311 Cash equivalents (1) 17,506,035 13,064,881 $ 21,546,386 $ 15,130,192 (1) Cash equivalents are investments with initial original maturities of less than 90 days and consist primarily of Treasury Bills issued by the United States Treasury Department.

Trade Receivables - Net (Tables

Trade Receivables - Net (Tables)	12 Months Ended
	Dec. 31, 2022
Trade receivables – Net [Abstract]
Schedule of age of net receivables that are past due	At December 31, 2022 2021 30 - 60 days $ 149,250 $ 355,633 61 - 90 days 709,781 62,387 91 + days 1,000,937 93,504 Total $ 1,859,968 $ 511,524
Schedule of allowance for doubtful accounts	2022 2021 Balance at beginning of year $ 224,569 $ 233,355 Provisions 25,163 22,247 Cancellation (834 ) Account recoveries (2,708 ) Translations effects (22,466 ) (28,325 ) Balance at end of year $ 226,432 $ 224,569

Recoverable Taxes (Tables)

Recoverable Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Recoverable Taxes [Abstract]
Schedule of recoverable taxes	December 31, 2022 2021 Value Added Tax $ 32,686 $ 100,838 Income Tax 353,506 353,325 Other 18,730 595 $ 404,922 $ 454,758

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2022
Inventories [Abstract]
Schedule of current inventory and non-current inventory	December 31, Current inventory: 2022 2021 Finished goods $ 3,656,990 $ 2,772,167 Work-in-process 125,259 355,830 Billets 2,282,093 2,255,933 Raw materials and supplies 5,446,489 5,092,292 Materials, spare parts and rollers 1,264,727 1,271,891 Materials in-transit 15,753 $ 12,791,311 $ 11,748,113 December 31, 2022 2021 Coke $ 1,237,188 $ 1,303,975 Spare parts 74,361 62,092 Rollers 177,270 162,263 Finished goods 353,095 353,095 1,841,914 1,881,425 Less, valuation allowance at the lower of cost or net realizable value. (353,095 ) (353,095 ) $ 1,488,819 $ 1,528,330

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of cost of investment property, plant and equipment	Land Buildings Machinery Transportation Furniture, Constructions Total Balance to January 1, 2021 $ 1,316 $ 5,440 $ 29,637 $ 161 $ 144 $ 1,015 $ 37,713 Additions 119 14 569 1 5 358 1,066 Conversion adjustments (4 ) (44 ) (12 ) 303 243 Balance as of December 31, 2021 $ 1,431 $ 5,410 $ 30,194 $ 162 $ 149 $ 1,676 $ 39,022 Additions 2 3 286 1 4 1,400 1,696 Conversion adjustments (18 ) (9 ) (339 ) (1 ) (40 ) (407 ) Balance as of December 31, 2022 $ 1,415 $ 5,404 $ 30,141 $ 163 $ 152 $ 3,036 $ 40,311
Schedule of accumulated depreciation of property, plant and equipment	Buildings Machinery and Transportation Furniture, Total Balance as of January 1, 2021 1,213 $ 20,382 $ 86 $ 81 $ 21,762 Depreciation expense 46 1,127 2 0 1,175 Conversion effects (9 ) 82 (2 ) 1 72 Balance as of December 31, 2021 1,250 $ 21,591 $ 86 $ 82 $ 23,009 Depreciation expense 46 1,058 2 0 1,106 Conversion effects (10 ) (575 ) (2 ) 0 (587 ) Balance as of December 31, 2022 $ 1,286 $ 22,074 $ 86 $ 82 $ 23,528
Schedule of net book value of property, plant and equipment	Net Book Value: Land Buildings Machinery Transportation equipment Furniture, Constructions Total Balance as of December 31, 2020 $ 1,316 $ 4,227 $ 9,255 $ 75 $ 63 $ 1,015 $ 15,951 Balance as of December 31, 2021 $ 1,431 $ 4,160 $ 8,603 $ 76 $ 67 $ 1,676 $ 16,013 Balance as of December 31, 2022 $ 1,415 $ 4,118 $ 8,067 $ 77 $ 70 $ 3,036 $ 16,783

Investments in financial inst_2

Investments in financial instruments (Tables)	12 Months Ended
	Dec. 31, 2022
Investments in financial instruments [Abstract]
Schedule of investments in financial instruments	2022 Other stock instruments $ 1,758,605

Intangible and Other Long-Ter_2

Intangible and Other Long-Term Assets (Tables)	12 Months Ended
	Dec. 31, 2022
Intangible and Other Long-Term Assets [Abstract]
Schedule of balances	2022 Amortization Assets Original Accumulated Net period Republic trade mark $ 104,289 $ $ 104,289 * Customers list 63,664 63,664 20 Total from Republic (1) 167,953 63,664 104,289 Customers list 2,205,700 2,205,700 9 San 42 trademark (2) 329,600 329,600 * Goodwill (2) 1,814,160 1,814,160 * Total from Grupo San (3) 4,349,460 2,205,700 2,143,760 4,517,413 2,269,364 2,248,049 Other assets 77,206 77,206 $ 4,594,619 $ 2,269,364 $ 2,325,255 2021 Amortization Assets Original Accumulated Net period Republic trade mark $ 110,506 $ $ 110,506 * Customers list 67,459 67,459 20 Total from Republic (1) 177,965 67,459 110,506 Customers list 2,205,700 2,205,700 9 San 42 trademark (2) 329,600 329,600 * Goodwill (2) 1,814,160 1,814,160 * Total from Grupo San (3) 4,349,460 2,205,700 2,143,760 4,527,425 2,273,159 2,254,266 Other assets 58,303 58,303 $ 4,585,728 $ 2,273,159 $ 2,312,569 * Intangible assets with undefined useful life. (1) Intangible assets from the Republic acquisition. (2) The San 42 trademark and the goodwill are presented net of impairment losses recorded in 2009 for $16,000 and $2,352,000, respectively. (3) Intangible assets from the Grupo San acquisition.
Schedule of reconciliation between the opening and closing balances	Assets Original Value Accumulated Net Balance as of December 31, 2020 $ 4,719,347 $ (2,396,391 ) $ 2,322,956 Additions 10,520 (10,520 ) 0 Cancellations (128,785 ) 128,785 0 Adjustment effect of the year (15,354 ) 4,967 (10,387 ) Balance as of December 31, 2021 $ 4,585,728 $ (2,273,159 ) $ 2,312,569 Additions 10,609 (10,609 ) 0 Cancellations (2,505 ) 2,505 0 Adjustment effect of the year 787 11,899 12,686 Balance as of December 31, 2022 $ 4,594,619 $ (2,269,364 ) $ 2,325,255

Accounts Payable Trade and Ot_2

Accounts Payable Trade and Other Accrued Liabilities (Tables)	12 Months Ended
	Dec. 31, 2022
Accounts payable trade and other accrued liabilities [Abstract]
Schedule of accounts payable trade and other accrued liabilities	December 31, 2020 2021 Trade accounts payable $ 9,410,419 $ 6,910,451 Other accrued liabilities 697,631 898,404 $ 10,108,050 $ 7,808,855

Employee Benefits (Tables)

Employee Benefits (Tables)	12 Months Ended
	Dec. 31, 2022
Employee Benefits [Abstract]
Schedule of main actuarial hypothesis used in the actuarial computations	2022 2021 2020 Discount rate 9.10 % 7.55 % 7.00 % Wage increase rate 5.00 % 5.00 % 4.50 % Rate of salary increase 4.50 % 4.50 % 4.50 %
Schedule of DBO amount recorded in the balance sheet	Retirement Termination 2022 2021 2020 Vested benefits Obligation (OBA) $ - $ - $ - $ 3,390 $ 47,159 Plus, Non-Vested Benefits Obligation 74,007 95,368 169,375 159,453 115,077 Defined Benefits Obligation 74,007 95,368 169,375 162,843 162,236 Projected Net Liability $ 74,007 $ 95,368 $ 169,375 $ 162,843 $ 162,236
Schedule of DBO amount recorded in the balance sheet	Retirement Termination 2022 2021 2020 Service cost 4,933 $ 6,065 $ 10,998 $ 9,299 $ 6,736 Net interest 6,573 5,528 12,101 11,121 9,306 Labor cost of past services (11,136 ) (108 ) (11,244 ) 1,806 5,240 Net Cost for the period $ 370 $ 11,485 $ 11,855 $ 22,226 $ 21,282
Schedule of DBO amount recorded in the balance sheet	2022 2021 Defined benefit obligations (DBO) changes in present $ 162,843 $ 162,236 Value DBO present value at January 1 st 162,843 162,236 Past services labor cost (11,244 ) 1,806 Current service labor cost 10,998 9,299 Interest expense 12,101 11,121 Paid benefits (9,229 ) Actuarial gains and losses in obligations $ 3,906 $ (21,619 ) DBO present value at December 31 st $ 169,375 $ 162,843 Initial PNL $ 162,843 $ 162,236 Net cost for the period 11,855 22,226 Paid benefits (9,229 ) Previous years effect on profit and loss 3,906 (21,619 ) Final PNL $ 169,375 $ 162,843 Defined benefits obligations (DBO) $ 169,375 $ 162,843

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Disclosure Of Income Tax Text Block Abstract
Schedule of income tax charged (credited)	2022 2021 2020 Income tax of the year for Mexican companies $ 2,549,851 $ 2,564,312 $ 1,460,057 Income tax year for foreign companies 599,940 1,253,895 370,860 Deferred tax for Mexican companies (119,999 ) (96,453 ) (94,604 ) Deferred tax for foreign companies 269,730 668,015 341,531 $ 3,299,522 $ 4,389,769 $ 2,077,844
Schedule of income tax expense (benefit)	2022 2021 2020 Expected benefit, expense $ 3,300,413 $ 4,084,348 $ 1,462,776 Increase (decrease) as a result of: Inflation effect, net (524,640 ) (577,234 ) (139,134 ) Impact of the nominal rate differences between the USA and Mexico 29,996 66,343 11,075 Benefit from utilization of tax loss carry-forwards and others (1) 80,166 (12,086 ) 16,173 Others, net (includes permanent items) Income tax expense (2) 413,587 828,398 172,519 Income tax expense $ 3,299,522 $ 4,389,769 $ 1,523,409 Effective tax rate 29.99 % 31.73 % 31.24 % (1) This amount corresponds to the income tax benefit obtained by those companies that used tax loss carry-forwards in the years presented that were generated previously to 2022, 2021 and 2020 , less the effect of tax losses incurred by some subsidiaries for which no deferred tax asset was recorded.
Schedule of tax losses pending of amortize	Origin Expiration Tax losses 2013 2023 7,793 2014 2024 8,729 2015 2025 11,036 2016 2026 386,277 2017 2027 303,647 2018 2028 68,360 2019 2029 953,370 2020 2030 961,943 2021 2031 1,402,495 2022 2032 922,370 $ 5,026,020
Schedule of deferred income tax liability	December 31, 2022 2021 Deferred tax assets: Allowance for doubtful accounts $ (67,930 ) $ (64,511 ) Advances from customers 464,268 359,795 Deferred tax assets 396,338 295,284 Deferred tax liabilities: Property, plant and equipment 4,209,513 3,926,450 Intangible assets from Grupo San 381,282 353,661 Provisions 17,199 76,601 Prepaid expenses 11,493 43,696 Total deferred liabilities 4,619,487 4,400,408 Deferred tax liabilities, net $ 4,223,149 $ 4,105,124

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2022
Stockholders' Equity [Abstract]
Schedule of common stock	Number of Amount Fixed capital 90,850 $ 441,786 Variable capital 406,859 1,978,444 497,709 2,420,230 Effect of restatement 412,038 Total 497,709 $ 2,832,268
Schedule of reconciliation of the number of shares outstanding	Thousands of shares 2022 2021 Shares outstanding at beginning of year 462,581 463,243 Repurchase of capital shares, net (445 ) (662 ) Shares outstanding at yearend 462,136 462,581

Non-Controlling Interest (Table

Non-Controlling Interest (Tables)	12 Months Ended
	Dec. 31, 2022
Non-Controlling Interest [Abstract]
Schedule of controlling and non-controlling interest	2022 2021 Balance at beginning of year $ 41,161 $ 36,010 Share of profits and losses for the year (1,612 ) 1,659 Share of translation effects of foreign subsidiaries (1,902 ) 3,492 Balance at the end of the year $ 37,647 $ 41,161

Accumulated Other comprehensi_2

Accumulated Other comprehensive income (loss) (Tables)	12 Months Ended
	Dec. 31, 2022
Disclosure Of Accumulated Other Comprehensive Incomelosstext Block Abstract
Schedule of accumulated other comprehensive income (loss)	Conversion Other equity Total Balances as of January 1, 2022 1,288,278 1,288,278 Items that will not be recycled to profit and loss: Other equity instruments (317,267 ) (317,267 ) Items that can be recycled to profit and loss: Conversion translation adjustment on foreign subsidiaries (1,257,453 ) (1,257,453 ) Balances as of December 31, 2022 $ 30,825 $ (317,267 ) $ (286,442 )

Transactions and Balances wit_2

Transactions and Balances with Related Parties (Tables)	12 Months Ended
	Dec. 31, 2022
Transactions and Balances with Related Parties [Abstract]
Schedule of transactions with related parties	2022 2021 2020 Holding company Interest income 55,848 34,447 41,034 Management staff Administrative services expenditures 275,063 113,018 199,488 Other related parties Sales 392,531 391,664 188,082 Purchases 253,931 40,081 27,507 Direct short-term benefits (*) 120,151 78,321 90,562 (*) Correspond to the salaries, allowances and bonuses paid to the executives of Simec.
Schedule of balances receivable from and payable to related parties	December 31, 2022 2021 Short-term Accounts receivable: Industrias CH, S.A.B. de C.V. $ 62,055 $ 6,073 Cía. Laminadora Vista Hermosa, S.A. de C.V. 974 628 Operadora Compañía Mexicana de Tubos, S.A. de C.V. 824 873 Compañía Manufacturera de Tubos, S.A. de C.V. 2,799 Cía. Tubos y Perfiles Monterrey, S.A. de C.V. 3,371 3,318 Operadora Perfiles Sigosa, S.A. de C.V. 3,999 2,872 Operadora Construalco, S.A. de C.V. 606 519 Aceros y Laminados Sigosa, S.A. de C.V. 16,473 1,638 Arrendadora Norte de Matamoros, S.A. de C.V. 1,294 1,294 Operadora Industrial de Herramientas, S.A. de C.V. 816 Joist del Golfo, S.A. de C.V. 2,582 5,227 Holding Protel, S.A. de C.V. 304 Aceros CH, S.A. de C.V. 130 Sigosa Aceros, S.A. de C.V. 14 18,942 Siderúrgicos del Golfo, S.A. de C.V. 832 940 Perfiles Comerciales Sigosa, S.A. de C.V. 4,125 25,588 Pytsa Industrial de Mexico. S.A. de C.V. 438 438 Aceros y Laminados Sigosa, S.A. de C.V. 820 Acertam, S.A. de C.V. 785 Servicios Estructurales, S.A. de C.V. 3,047 Others 151 246 $ 104,803 $ 70,232 December 31, 2022 2021 Long-term Accounts receivable: Industrias CH, S.A.B. de C.V. $ 648,281 $ 648,281 $ 648,281 $ 648,281 Loans to related parties: Industrias CH, S.A.B de C.V. $ 959,153 $ 915,553 Perfiles Comerciales Sigosa, S.A. de C.V. 145,910 154,605 $ 1,105,063 $ 1,070,158 Total, long-term $ 1,753,344 $ 1,718,439 2022 2021 Accounts payable: Aceros y Laminados Sigosa, S.A. de C.V. $ 24,455 $ 7,155 Industrias CH, S.A.B. de C.V. 245,388 214,294 Perfiles Comeciales Sigosa, S.A. de C.V. 3,802 3,802 Holding Protel, S.A. de C.V. 251 251 Compañia Laminadora Vista Hermosa, S.A. de C.V. 518 445 Operadora Perfiles Sigosa, S.A. de C.V. 2,800 2,074 Operadora Pytsa Industrial, S.A. de C.V. 8,353 11,603 Comercializadora Sigosa, S.A. de C.V. 2,532 Compañia Manufacturera de Tubos, S.A. de C.V. 9,837 7,174 Operadora Compañia Mexicana de Tubos, S.A. de C.V. 7,583 7,090 Sigosa Aceros, S.A. de C.V. 7 48,096 Cía. Mexicana de Perfiles y Tubos, S.A. de C.V. 595 595 Industrias Procarsa, S.A. de C.V. 139 156 Ferrovisa, S.A. de C.V. 7,069 7,458 Other 195 188 $ 310,992 $ 312,913 Loans from related parties: Operadora de Perfiles Sigosa, S.A. de C.V. $ 2,381,464 $ $ 2,381,464 $ $ 2,692,456 $ 312,913

Cost of Sales and Expenses by_2

Cost of Sales and Expenses by their Nature (Tables)	12 Months Ended
	Dec. 31, 2022
Cost of Sales and Expenses by their Nature [Abstract]
Schedule of cost of sales and administration expenses	2022 2021 2020 Raw materials and consumables $ 27,080,462 $ 26,298,681 $ 16,343,140 Electrical energy 2,586,918 3,530,134 2,820,667 Ferroalloys 2,232,759 2,396,516 1,617,352 Refractories 767,691 810,315 629,758 Oxygen 297,302 293,217 248,029 Electrodes 542,117 444,201 434,265 Gas and fuels 1,541,817 1,161,994 767,823 Labor 2,272,304 2,024,419 1,831,225 Operation materials 1,366,947 1,339,692 1,033,597 Depreciation and amortization 1,116,872 1,175,108 1,452,271 Maintenance 1,250,897 1,561,716 1,262,728 Other expenses 1,084,475 974,835 2,790,197 $ 42,140,561 $ 42,010,828 $ 31,231,052 2022 2021 2020 Cost of sales $ 39,683,861 $ 39,968,186 $ 29,211,724 Administrative expenses 2,456,700 2,042,642 2,019,328 $ 42,140,561 $ 42,010,828 $ 31,231,052

Other income (expenses), net (T

Other income (expenses), net (Tables)	12 Months Ended
	Dec. 31, 2022
Other income (expenses), net
Schedule of other income (expenses) net	2022 2021 2020 Cancellation of balances $ $ (157,834 ) $ Land treatments in Pacific Steel, Inc. (3,327 ) (2,088 ) (2,708 ) Attorney’s fees Bad debt estimate (21,983 ) (19,398 ) Other expenses (25,310 ) (179,320 ) (2,708 ) Sale of scrap 2,450 9,993 232,157 Recovery of losses 327 9,623 Brazil tax benefits 256,698 Update of balances in favor in taxes 85,597 64,915 Agreements with clients 27,869 Other income 8,781 17,383 32,733 Other income 97,155 101,914 549,457 Other income and other (expenses), net $ 71,845 $ (77,406 ) $ 546,749

Financial Instruments (Tables)

Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2022
Financial instruments [Abstract]
Schedule of book value of the monetary assets and monetary liabilities denominated in foreign currency	December 31, 2022 2021 Short - term assets $ 28,953,307 $ 20,783,197 Short - term liabilities 10,367,193 8,434,451 Net monetary asset position in foreign currency $ 18,586,114 $ 12,348,746 Equivalent in U.S. Dollars (thousands) USD$ 959,952 USD$ 601,917
Schedule of additional bank lines of credit that the company has at its disposal to reduce liquidity risk	(In thousands of US dollars) December 31, 2022 2021 Bank loans credit lines: Drawn balances $ 200,000 $ 350,000 Undrawn balances 169,035 183,942 Available line balance $ 30,965 $ 166,058

Financial Information by Segm_2

Financial Information by Segments (Tables)	12 Months Ended
	Dec. 31, 2022
Financial Information by Segments [Abstract]
Schedule of financial information by segments	Year ended December 31, 2022 Mexico USA Brazil Eliminations Total Net sales $ 30,914,890 $ 5,867,193 $ 17,377,164 $ $ 54,159,247 Cost of sales (21,575,758 ) (5,764,239 ) (12,343,864 ) (39,683,861 ) Gross profit (loss) 9,339,132 102,954 5,033,300 14,475,386 Administrative expenses (1,096,330 ) (286,611 ) (1,618,151 ) 544,392 (2,456,700 ) Other income (expenses), net (71,202 ) 1,015,586 140,205 (1,012,744 ) 71,845 Interest income and dividends 415,704 30,175 445,879 Interest expense (485 ) (55,867 ) (383,646 ) 383,646 (56,352 ) Loss on financial instruments (778,649 ) (778,649 ) Exchange rate gain (loss), net (540,770 ) (58 ) (60,625 ) 60,625 (540,828 ) Income (loss) before income taxes 7,267,400 806,179 3,111,083 (24,081 ) 11,160,581 Income taxes (2,565,834 ) (88,679 ) (645,009 ) (3,299,522 ) Net income (loss) for the year $ 4,701,566 $ 717,500 $ 2,466,074 $ (24,081 ) $ 7,861,059 Depreciation and Amortization $ 627,078 $ 236,601 $ 253,193 $ 1,116,872 Total assets 44,025,917 12,930,111 14,149,332 $ (3,472,457 ) 67,632,903 Total liabilities 8,375,028 7,243,113 7,492,843 (3,472,457 ) 19,638,527 Acquisitions of property, plant and equipment 151,783 252,116 1,292,586 1,696,485 Year ended December 31, 2021 Mexico USA Brazil Eliminations Total Net sales $ 29,678,133 $ 8,216,595 $ 17,725,628 $ $ 55,620,356 Cost of sales (21,337,462 ) (7,159,354 ) (11,471,370 ) (39,968,186 ) Gross profit (loss) 8,340,671 1,057,241 6,254,258 15,652,170 Administrative expenses (907,798 ) (256,875 ) (877,969 ) (2,042,642 ) Other income (expenses), net (77,530 ) 454,303 1,793 (455,972 ) (77,406 ) Interest income 65,631 317 65,948 Interest expense (28,904 ) (61,494 ) (96,486 ) 99,439 (87,445 ) Exchange rate gain (loss), net 325,389 (378 ) (120,300 ) 120,300 325,011 Income (loss) before income taxes 7,717,459 1,193,114 5,161,296 (236,233 ) 13,835,636 Income taxes (2,472,751 ) (477,380 ) (1,439,638 ) (4,389,769 ) Net income (loss) for the year $ 5,244,708 $ 715,734 $ 3,721,658 $ (236,233 ) $ 9,445,867 Depreciation and amortization $ 667,167 $ 270,119 $ 237,822 $ 1,175,108 Total assets 47,917,643 10,836,083 8,815,051 $ (10,226,205 ) 57,342,572 Total liabilities 7,828,384 5,544,135 12,396,190 (10,226,205 ) 15,542,504 Acquisitions of property, plant and equipment 367,496 288,487 410,439 1,066,422 Year ended December 31, 2020 Mexico USA Brazil Eliminations Total Net sales $ 19,660,889 $ 5,549,366 $ 10,659,059 $ $ 35,869,314 Cost of sales (15,459,258 ) (5,677,213 ) (8,075,253 ) (29,211,724 ) Gross profit (loss) 4,201,631 (127,847 ) 2,583,806 6,657,590 Administrative expenses (1,117,817 ) (240,726 ) (660,785 ) (2,019,328 ) Other income (expenses), net 52,656 505,946 (11,854 ) 546,749 Interest income 107,605 222 0 107,826 Interest expense (5,108 ) (16,104 ) (66,007 ) 33,473 (53,746 ) Exchange rate gain (loss), net (483,822 ) 1,510 (1,096,416 ) 1,215,564 (363,164 ) Income before income taxes 2,755,145 123,001 748,744 1,249,037 4,875,927 Income taxes 1,747,568 118,926 211,350 2,077,844 Net income for the year $ 1,007,577 $ 4,075 $ 537,394 $ 1,249,037 $ 2,798,083 Depreciation and Amortization $ 693,362 $ 332,186 $ 426,723 $ 1,452,271 Total assets 33,386,043 9,237,831 5,807,121 $ (2,927,348 ) 45,503,647 Total liabilities 6,944,579 4,797,682 3,670,075 (2,927,348 ) 12,484,988 Acquisitions of property, plant and equipment 278,700 41,054 631,451 951,205

Nature of Business (Details)

Nature of Business (Details)	12 Months Ended
	Dec. 31, 2022
Nature of Business [Abstract]
Stock exchange term	99 years

Significant Events (Details)

Significant Events (Details) $ in Millions	Jun. 11, 2021 USD ($)
Significant Events [Abstract]
Purchase fixed assets	$ 10

Basis of Preparation and Pres_3

Basis of Preparation and Presentation of the Consolidated Financial Statements (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 MXN ($) Tons	Dec. 31, 2022 USD ($) Tons	Dec. 31, 2021 MXN ($) Tons	Dec. 31, 2021 USD ($) Tons
Basis of Preparation and Presentation of the Consolidated Financial Statements (Details) [Line Items]
Coke inventory (in Tons) | Tons	136,246	136,246	136,541	136,541
Coke inventory, value (in Pesos)	$ 1,237		$ 1,304
Average price of coke per metric tons (in Dollars)		$ 469		$ 465.5
ICH (Holding Company) share in SimRep Corporation and Subsidiaries [Member]
Basis of Preparation and Presentation of the Consolidated Financial Statements (Details) [Line Items]
Percentage of equity owned	0.59%
Bottom of range [member]
Basis of Preparation and Presentation of the Consolidated Financial Statements (Details) [Line Items]
Percentage range of changes in fair value or cash flows of hedging instrument	80%
Top of range [member]
Basis of Preparation and Presentation of the Consolidated Financial Statements (Details) [Line Items]
Percentage range of changes in fair value or cash flows of hedging instrument	125%

Basis of Preparation and Pres_4

Basis of Preparation and Presentation of the Consolidated Financial Statements (Details) - Schedule of subsidiaries		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021
Compania Siderurgica de Guadalajara, S.A. de C.V. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned		99.99%	99.99%
Arrendadora Simec, S.A. de C.V. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned		100%	100%
Simec International, S.A. de C.V. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned		100%	100%
Compania Siderurgica del Pacifico, S.A. de C.V. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned		99.99%	99.99%
Coordinadora de Servicios Siderurgicos de Calidad, S.A. de C.V. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned		100%	100%
Industrias del Acero y del Alambre, S.A. de C.V. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned		99.99%	99.99%
Procesadora Mexicali, S.A. de C.V. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned		99.99%	99.99%
Servicios Simec, S.A. de C.V. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned		100%	100%
Sistemas de Transporte de Baja California, S.A. de C.V. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned		100%	100%
Operadora de Servicios Siderurgicos de Tlaxcala, S.A. de C.V. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned	[1]	100%	100%
Operadora de Metales, S.A. de C.V. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned	[1]	100%	100%
Administradora de Servicios Siderurgicos de Tlaxcala, S.A. de C.V. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned		100%	100%
CSG Comercial, S.A. de C.V. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned		99.95%	99.95%
Operadora de Servicios de la Industria Siderurgica ICH, S.A. de C.V. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned		100%	100%
Corporacion Aceros DM, S.A. de C.V. and subsidiaries [Member]
Subsidiaries established in Mexico:
Percentage of equity owned	[2]	100%	100%
Acero Transportes San, S.A. de C.V. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned	[2]	100%	100%
Simec Acero, S.A. de C.V. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned		100%	100%
Corporacion ASL, S. A. de C.V. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned		99.99%	99.99%
Simec International 6, S.A. de C.V. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned	[1]	100%	100%
Simec International 7, S.A. de C.V. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned		99.99%	99.99%
Simec International 9, S.A.P.I. de C.V. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned		100%	100%
Corporativos G&DL, S.A. de C.V. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned	[1]	100%	100%
Orge, S.A. de C.V. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned		99.99%	99.99%
Siderurgica del Occidente y Pacifico, S.A. de C.V. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned		100%	100%
RRLC, S.A.P.I. de C.V. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned		99.99%	95.10%
Grupo Chant, S.A.P.I. de C.V. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned		99.99%	97.61%
Aceros Especiales Simec Tlaxcala, S.A. de C.V. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned		100%	100%
Gases Industriales de Tlaxcala, S.A. de C.V. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned		100%	100%
GSIM de Occidente S.A. de C.V. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned		100%	100%
Fundiciones de Acero Estructural, S.A. de C.V. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned		100%	100%
Siderurgicos Noroeste, S.A. DE C.V. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned		100%	100%
Simec Siderurgico, S.A. de C.V. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned		100%	100%
SimRep Corporation and Subsidiaries [Member]
Subsidiaries established in Mexico:
Percentage of equity owned	[3],[4],[5]	99.41%	99.41%
Pacific Steel, Inc. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned	[3]	100%	100%
Pacific Steel Projects, Inc. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned	[3]	100%	100%
Simec Steel, Inc. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned	[3]	100%	100%
Simec USA, Corp. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned	[3]	100%	100%
Undershaft Investments, NV. [Member]
Subsidiaries established in Mexico:
Percentage of equity owned	[6]	100%	100%
GV do Brasil Industria e Comercio de Aco LTDA [Member]
Subsidiaries established in Mexico:
Percentage of equity owned	[7]	100%	100%
Companhia Siderurgica do Espiritu Santo S.A.[Member]
Subsidiaries established in Mexico:
Percentage of equity owned	[7]	100%	100%
[1] Companies that have lost the entire capital stock, except Operadora de Metales, S.A. de C.V. and which only has lost 2/3 of their capital stock. Companies located in San Luis Potosi. For purposes of this report constitute the “Grupo San”. Companies established in the United States of America, except a subsidiary of SimRep which is established in Canada. ICH owns 0.59% of the shares in this company at December 31, 2022. SimRep as an individual company has no significant operations or assets, except for its investment in Republic Steel. For purposes of this report, these companies are named “Republic”. Company established in Curaçao. Companies located in Brazil.

Basis of Preparation and Pres_5

Basis of Preparation and Presentation of the Consolidated Financial Statements (Details) - Schedule of relevant exchange rates used		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Apr. 28, 2023
Basis of Preparation and Presentation of the Consolidated Financial Statements (Details) - Schedule of relevant exchange rates used [Line Items]
Current exchange rate		19.36	20.52
Average exchange rate	[1]	20.12	20.28
Non-adjusting events after reporting period [member]
Basis of Preparation and Presentation of the Consolidated Financial Statements (Details) - Schedule of relevant exchange rates used [Line Items]
Current exchange rate				18.1
[1] Average exchange rate used to translate revenues, costs and expenses of the companies mentioned above.

Basis of Preparation and Pres_6

Basis of Preparation and Presentation of the Consolidated Financial Statements (Details) - Schedule of estimated useful lives of assets	12 Months Ended
	Dec. 31, 2022
Transportation equipment [Member]
Basis of Preparation and Presentation of the Consolidated Financial Statements (Details) - Schedule of estimated useful lives of assets [Line Items]
Estimated useful lives of assets in Years	4 years
Bottom of range [member] | Buildings [Member]
Basis of Preparation and Presentation of the Consolidated Financial Statements (Details) - Schedule of estimated useful lives of assets [Line Items]
Estimated useful lives of assets in Years	10 years
Bottom of range [member] | Machinery and equipment [Member]
Basis of Preparation and Presentation of the Consolidated Financial Statements (Details) - Schedule of estimated useful lives of assets [Line Items]
Estimated useful lives of assets in Years	5 years
Bottom of range [member] | Furniture, chattels and computer equipment [Member]
Basis of Preparation and Presentation of the Consolidated Financial Statements (Details) - Schedule of estimated useful lives of assets [Line Items]
Estimated useful lives of assets in Years	3 years
Top of range [member] | Buildings [Member]
Basis of Preparation and Presentation of the Consolidated Financial Statements (Details) - Schedule of estimated useful lives of assets [Line Items]
Estimated useful lives of assets in Years	65 years
Top of range [member] | Machinery and equipment [Member]
Basis of Preparation and Presentation of the Consolidated Financial Statements (Details) - Schedule of estimated useful lives of assets [Line Items]
Estimated useful lives of assets in Years	40 years
Top of range [member] | Furniture, chattels and computer equipment [Member]
Basis of Preparation and Presentation of the Consolidated Financial Statements (Details) - Schedule of estimated useful lives of assets [Line Items]
Estimated useful lives of assets in Years	10 years

Cash and Cash Equivalents and_3

Cash and Cash Equivalents and Other Investments (Details) - Schedule of cash and cash equivalents - MXN ($) $ in Thousands		Dec. 31, 2022	Dec. 31, 2021
Schedule of Cash and Cash Equivalents [Abstract]
Cash		$ 4,040,351	$ 2,065,311
Cash equivalents	[1]	17,506,035	13,064,881
Total		$ 21,546,386	$ 15,130,192
[1] Cash equivalents are investments with initial original maturities of less than 90 days and consist primarily of Treasury Bills issued by the United States Treasury Department.

Trade Receivables - Net (Detail

Trade Receivables - Net (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Trade receivables - Net [Abstract]
Trade receviables percentage	5%	5%

Trade Receivables - Net (Deta_2

Trade Receivables - Net (Details) - Schedule of age of net receivables that are past due - MXN ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Schedule of Age of Net Receivables that are Past Due [Abstract]
Total	$ 1,859,968	$ 511,524
30 - 60 days [Member]
Schedule of Age of Net Receivables that are Past Due [Abstract]
Total	149,250	355,633
61 - 90 days [Member]
Schedule of Age of Net Receivables that are Past Due [Abstract]
Total	709,781	62,387
91 + days [Member]
Schedule of Age of Net Receivables that are Past Due [Abstract]
Total	$ 1,000,937	$ 93,504

Trade Receivables - Net (Deta_3

Trade Receivables - Net (Details) - Schedule of allowance for doubtful accounts - MXN ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Schedule of Allowance for Doubtful Accounts [Abstract]
Balance at beginning of year	$ 224,569	$ 233,355
Provisions	25,163	22,247
Cancellation	(834)
Account recoveries		(2,708)
Translations effects	(22,466)	(28,325)
Balance at end of year	$ 226,432	$ 224,569

Recoverable Taxes (Details) - S

Recoverable Taxes (Details) - Schedule of recoverable taxes - MXN ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Schedule of Recoverable Taxes [Abstract]
Value Added Tax	$ 32,686	$ 100,838
Income Tax	353,506	353,325
Other	18,730	595
Total recoverable taxes	$ 404,922	$ 454,758

Inventories (Details)

Inventories (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Inventories [Abstract]
Coke inventory	$ 1,237,188	$ 1,303,975

Inventories (Details) - Schedul

Inventories (Details) - Schedule of current inventory and non-current inventory - MXN ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Schedule of Current Inventory and Non-Current Inventory [Abstract]
Finished goods	$ 3,656,990	$ 2,772,167
Work-in-process	125,259	355,830
Billets	2,282,093	2,255,933
Raw materials and supplies	5,446,489	5,092,292
Materials, spare parts and rollers	1,264,727	1,271,891
Materials in-transit	15,753
Current Inventories, net	12,791,311	11,748,113
Coke	1,237,188	1,303,975
Spare parts	74,361	62,092
Rollers	177,270	162,263
Finished goods	353,095	353,095
Long-term inventories, gross	1,841,914	1,881,425
Less, valuation allowance at the lower of cost or net realizable value.	(353,095)	(353,095)
Non-current inventories, net	$ 1,488,819	$ 1,528,330

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) $ in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2015 MXN ($)	Dec. 31, 2015 USD ($)
Property, Plant and Equipment (Details) [Line Items]
Depreciation expense	$ 1,106,263	$ 1,175,108
Invested improvements	5,500	15,600
Construction in progress	27,100
Additional cost			$ 4,000
Impairment charge	130,700
Lorain Ohio facility [Member]
Property, Plant and Equipment (Details) [Line Items]
Fair value					$ 2,701
USD [Member]
Property, Plant and Equipment (Details) [Line Items]
Net book value		$ 54,600
USD [Member] | Lorain Ohio facility [Member]
Property, Plant and Equipment (Details) [Line Items]
Electric arc furnace and auxiliar facilities expenses				$ 158,800
Labor and capitalized indirect expenses				$ 45,400
Net book value	$ 61,700		$ 40,300
Fair value						$ 130,700

Property, Plant and Equipment_3

Property, Plant and Equipment (Details) - Schedule of cost of investment property, plant and equipment - MXN ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment (Details) - Schedule of cost of investment property, plant and equipment [Line Items]
Balance at beginning of year	$ 39,022	$ 37,713
Additions	1,696	1,066
Conversion adjustments	(407)	243
Balance at end of year	40,311	39,022
Land [Member] | Cost [Member]
Property, Plant and Equipment (Details) - Schedule of cost of investment property, plant and equipment [Line Items]
Balance at beginning of year	1,431	1,316
Additions	2	119
Conversion adjustments	(18)	(4)
Balance at end of year	1,415	1,431
Buildings [Member] | Cost [Member]
Property, Plant and Equipment (Details) - Schedule of cost of investment property, plant and equipment [Line Items]
Balance at beginning of year	5,410	5,440
Additions	3	14
Conversion adjustments	(9)	(44)
Balance at end of year	5,404	5,410
Machinery and equipment [Member] | Cost [Member]
Property, Plant and Equipment (Details) - Schedule of cost of investment property, plant and equipment [Line Items]
Balance at beginning of year	30,194	29,637
Additions	286	569
Conversion adjustments	(339)	(12)
Balance at end of year	30,141	30,194
Transportation equipment [Member] | Cost [Member]
Property, Plant and Equipment (Details) - Schedule of cost of investment property, plant and equipment [Line Items]
Balance at beginning of year	162	161
Additions	1	1
Balance at end of year	163	162
Furniture, mixtures and computer equipment [Member] | Cost [Member]
Property, Plant and Equipment (Details) - Schedule of cost of investment property, plant and equipment [Line Items]
Balance at beginning of year	149	144
Additions	4	5
Conversion adjustments	(1)
Balance at end of year	152	149
Constructions and machinery in-progress [Member] | Cost [Member]
Property, Plant and Equipment (Details) - Schedule of cost of investment property, plant and equipment [Line Items]
Balance at beginning of year	1,676	1,015
Additions	1,400	358
Conversion adjustments	(40)	303
Balance at end of year	$ 3,036	$ 1,676

Property, Plant and Equipment_4

Property, Plant and Equipment (Details) - Schedule of accumulated depreciation of property, plant and equipment - MXN ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment (Details) - Schedule of accumulated depreciation of property, plant and equipment [Line Items]
Beginning balance	$ 23,009	$ 21,762
Depreciation expense	1,106	1,175
Conversion effects	(587)	72
Ending balance	23,528	23,009
Buildings [member] | Accumulated amortization [Member]
Property, Plant and Equipment (Details) - Schedule of accumulated depreciation of property, plant and equipment [Line Items]
Beginning balance	1,250	1,213
Depreciation expense	46	46
Conversion effects	(10)	(9)
Ending balance	1,286	1,250
Machinery and Equipment [Member] | Accumulated amortization [Member]
Property, Plant and Equipment (Details) - Schedule of accumulated depreciation of property, plant and equipment [Line Items]
Beginning balance	21,591	20,382
Depreciation expense	1,058	1,127
Conversion effects	(575)	82
Ending balance	22,074	21,591
Transportation equipment [Member] | Accumulated amortization [Member]
Property, Plant and Equipment (Details) - Schedule of accumulated depreciation of property, plant and equipment [Line Items]
Beginning balance	86	86
Depreciation expense	2	2
Conversion effects	(2)	(2)
Ending balance	86	86
Furniture, mixtures and computer equipment [Member] | Accumulated amortization [Member]
Property, Plant and Equipment (Details) - Schedule of accumulated depreciation of property, plant and equipment [Line Items]
Beginning balance	82	81
Depreciation expense	0	0
Conversion effects	0	1
Ending balance	$ 82	$ 82

Property, Plant and Equipment_5

Property, Plant and Equipment (Details) - Schedule of net book value of property, plant and equipment - MXN ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment (Details) - Schedule of net book value of property, plant and equipment [Line Items]
Net book value	$ 16,783	$ 16,013	$ 15,951
Land [member]
Property, Plant and Equipment (Details) - Schedule of net book value of property, plant and equipment [Line Items]
Net book value	1,415	1,431	1,316
Buildings [member]
Property, Plant and Equipment (Details) - Schedule of net book value of property, plant and equipment [Line Items]
Net book value	4,118	4,160	4,227
Machinery and Equipment [Member]
Property, Plant and Equipment (Details) - Schedule of net book value of property, plant and equipment [Line Items]
Net book value	8,067	8,603	9,255
Transportation Equipment [Member]
Property, Plant and Equipment (Details) - Schedule of net book value of property, plant and equipment [Line Items]
Net book value	77	76	75
Furniture, mixtures and computer equipment [Member]
Property, Plant and Equipment (Details) - Schedule of net book value of property, plant and equipment [Line Items]
Net book value	70	67	63
Constructions and machinery in-progress [Member]
Property, Plant and Equipment (Details) - Schedule of net book value of property, plant and equipment [Line Items]
Net book value	$ 3,036	$ 1,676	$ 1,015

Investments in financial inst_3

Investments in financial instruments (Details) - Schedule of investments in financial instruments $ in Thousands	Dec. 31, 2022 USD ($)
Schedule of investments in financial instruments [Abstract]
Other stock instruments	$ 1,758,605

Intangible and Other Long-Ter_3

Intangible and Other Long-Term Assets (Details) - MXN ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2009
Intangible and Other Long-Term Assets (Details) [Line Items]
Amortization of intangible assets	$ 10,609	$ 10,522
Trademark San 42 [Member]
Intangible and Other Long-Term Assets (Details) [Line Items]
Intangible assets impairment loss			$ 16,000
Goodwill [Member]
Intangible and Other Long-Term Assets (Details) [Line Items]
Goodwill impairment loss			$ 2,352,000

Intangible and Other Long-Ter_4

Intangible and Other Long-Term Assets (Details) - Schedule of balances - MXN ($) $ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021
Schedule of Balances [Abstract]
Original Value net		$ 4,594,619	$ 4,585,728
Accumulated amortization		2,269,364	2,273,159
Net		2,325,255	2,312,569
Republic trade mark [Member]
Schedule of Balances [Abstract]
Original Value net		104,289	110,506
Net		$ 104,289	$ 110,506
Amortization period (years)	[1]
Customers list [Member]
Schedule of Balances [Abstract]
Original Value net		$ 63,664	$ 67,459
Accumulated amortization		$ 63,664	$ 67,459
Amortization period (years)		20 years	20 years
Republic [Member]
Schedule of Balances [Abstract]
Original Value net	[2]	$ 167,953	$ 177,965
Accumulated amortization	[2]	63,664	67,459
Net	[2]	104,289	110,506
Customers list One [Member]
Schedule of Balances [Abstract]
Original Value net		2,205,700	2,205,700
Accumulated amortization		$ 2,205,700	$ 2,205,700
Amortization period (years)		9 years	9 years
San 42 trademark [Member]
Schedule of Balances [Abstract]
Original Value net	[3]	$ 329,600	$ 329,600
Net	[3]	$ 329,600	$ 329,600
Amortization period (years)	[1],[3]
Goodwill [Member]
Schedule of Balances [Abstract]
Original Value net	[3]	$ 1,814,160	$ 1,814,160
Net	[3]	$ 1,814,160	$ 1,814,160
Amortization period (years)	[1],[3]
Grupo San [Member]
Schedule of Balances [Abstract]
Original Value net	[4]	$ 4,349,460
Accumulated amortization	[4]	2,205,700
Net	[4]	2,143,760
Total [Member]
Schedule of Balances [Abstract]
Original Value net		4,517,413	$ 4,527,425
Accumulated amortization		2,269,364	2,273,159
Net		2,248,049	2,254,266
Other assets [Member]
Schedule of Balances [Abstract]
Original Value net		77,206	58,303
Net		$ 77,206	58,303
Grupo San [Member]
Schedule of Balances [Abstract]
Original Value net	[4]		4,349,460
Accumulated amortization	[4]		2,205,700
Net	[4]		$ 2,143,760
[1] Intangible assets with undefined useful life. Intangible assets from the Republic acquisition. The San 42 trademark and the goodwill are presented net of impairment losses recorded in 2009 for $16,000 and $2,352,000, respectively. Intangible assets from the Grupo San acquisition.

Intangible and Other Long-Ter_5

Intangible and Other Long-Term Assets (Details) - Schedule of reconciliation between the opening and closing balances - MXN ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Schedule of Reconciliation Between the Opening and Closing Balances [Abstract]
Balance	$ 2,312,569	$ 2,322,956
Additions	0	0
Cancellations	0	0
Adjustment effect of the year	12,686	(10,387)
Balance	2,325,255	2,312,569
Original Value [Member]
Schedule of Reconciliation Between the Opening and Closing Balances [Abstract]
Balance	4,585,728	4,719,347
Additions	10,609	10,520
Cancellations	(2,505)	(128,785)
Adjustment effect of the year	787	(15,354)
Balance	4,594,619	4,585,728
Accumulated amortization [Member]
Schedule of Reconciliation Between the Opening and Closing Balances [Abstract]
Balance	(2,273,159)	(2,396,391)
Additions	(10,609)	(10,520)
Cancellations	2,505	128,785
Adjustment effect of the year	11,899	4,967
Balance	$ (2,269,364)	$ (2,273,159)

Short-Term Debt (Details)

Short-Term Debt (Details) $ in Thousands, $ in Millions	Dec. 31, 2022 MXN ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 MXN ($)	Dec. 31, 2021 USD ($)	Nov. 15, 2007
Short-Term Debt (Details) [Line Items]
Principal amount outstanding	$ 5,847		$ 6,296
Medium Term Notes Of Simec [Member]
Short-Term Debt (Details) [Line Items]
Annual rate					10.50%
USD [Member] | Medium Term Notes Of Simec [Member]
Short-Term Debt (Details) [Line Items]
Principal amount outstanding		$ 0.3		$ 0.3

Accounts Payable Trade and Ot_3

Accounts Payable Trade and Other Accrued Liabilities (Details) - Schedule of accounts payable trade and other accrued liabilities - MXN ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Schedule Of Accounts Payable Trade And Other Accrued Liabilities [Abstract]
Trade accounts payable	$ 6,910,451	$ 9,410,419
Other accrued liabilities	898,404	697,631
Total accounts payable trade and other accrued liabilities	$ 7,808,855	$ 10,108,050

Employee Benefits (Details)

Employee Benefits (Details) $ / shares in Units, $ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 MXN ($)	Dec. 31, 2022 USD ($) $ / shares	Dec. 31, 2021 MXN ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 MXN ($)	Dec. 31, 2020 USD ($)
Employee Benefits (Details) [Line Items]
Percentage of collective bargaining agreements	42%	42%	42%	42%
Percentage share of employers profits	10%	10%
Employee profit sharing amount (in Pesos)	$ 7,200		$ 0
Deferred contribution plan percentage	2%	2%
Defined contribution plan expense	$ 24,118		17,110	$ 3,500	$ 12,098
Defined benefit obligations amount (in Pesos)	$ 169,375		$ 162,843
Contribution vested percentage	100%	100%
Percentage of contribution	25%	25%
Labor agreement description			The labor agreement includes a profit sharing plan to which the Company is required to contribute The extended agreement modified the plan to the following quarterly pretax income, as defined in the labor agreement (“EBT”): 3% of EBT between $0 and $25 million per quarter; 4% of EBT between $25 and $75 million per quarter; and 5% of EBT over $75 million per quarter. For the years ended December 2021 and 2020, the company does not make outlays, because the current year thresholds had not been achieved, USD $ 0.3 million and USD $ 0.5 million of expense was recorded for the years ended December 31, 2022 and 2021.	The labor agreement includes a profit sharing plan to which the Company is required to contribute The extended agreement modified the plan to the following quarterly pretax income, as defined in the labor agreement (“EBT”): 3% of EBT between $0 and $25 million per quarter; 4% of EBT between $25 and $75 million per quarter; and 5% of EBT over $75 million per quarter. For the years ended December 2021 and 2020, the company does not make outlays, because the current year thresholds had not been achieved, USD $ 0.3 million and USD $ 0.5 million of expense was recorded for the years ended December 31, 2022 and 2021.
Company paid		$ 0		$ 500		$ 0
Profits description	the Company’s contribution to the Benefit Trust changed to $4.00 per hour for each hour worked by USW represented employees. Effective August 16, 2019, until June 30, 2022, the Company obligation to finance the Profit Trust changed again and is limited to the creation of a profit-sharing pool consisting of 3% of the quarterly profits from $ 0 to 50 million and 4% of the profits of the Company over % 50 million. Effective July 1, 2022, the Company’s contribution to the Beneficiary Trust changes back to a limit of $ 4.00 per hour worked by USW represented employees.	the Company’s contribution to the Benefit Trust changed to $4.00 per hour for each hour worked by USW represented employees. Effective August 16, 2019, until June 30, 2022, the Company obligation to finance the Profit Trust changed again and is limited to the creation of a profit-sharing pool consisting of 3% of the quarterly profits from $ 0 to 50 million and 4% of the profits of the Company over % 50 million. Effective July 1, 2022, the Company’s contribution to the Beneficiary Trust changes back to a limit of $ 4.00 per hour worked by USW represented employees.
Republic employees [Member]
Employee Benefits (Details) [Line Items]
Percentage of collective bargaining agreements	70%	70%	76%	76%	70%	70%
Agreement description	The agreement initially expired on August 15, 2016, was extended for three years through August 15, 2019, and further extended through August 15, 2022.	The agreement initially expired on August 15, 2016, was extended for three years through August 15, 2019, and further extended through August 15, 2022.
Fixed amount per hour for each covered employees (in Dollars per share) | $ / shares		$ 1.68
VEBA Benefit Trust [Member]
Employee Benefits (Details) [Line Items]
Defined contribution plan expense		$ 300		$ 500		$ 0
VEBA Benefit Trust [Member] | Top of range [member]
Employee Benefits (Details) [Line Items]
Quarterly contributions to fund		2,600
VEBA Benefit Trust [Member] | Bottom of range [member]
Employee Benefits (Details) [Line Items]
Quarterly contributions to fund		250
Republic [Member]
Employee Benefits (Details) [Line Items]
Defined contribution plan expense		$ 1,900				3,100
Percentage of contribution	100%	100%
401(k) Plans [Member]
Employee Benefits (Details) [Line Items]
Defined contribution plan expense		$ 1,100		$ 1,000		$ 1,100
Percentage of contribution	5%	5%

Employee Benefits (Details) - S

Employee Benefits (Details) - Schedule of main actuarial hypothesis used in the actuarial computations	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule Of Main Actuarial Hypothesis Used In The Actuarial Computations Abstract
Discount rate	9.10%	7.55%	7%
Wage increase rate	5%	5%	4.50%
Rate of salary increase	4.50%	4.50%	4.50%

Employee Benefits (Details) -_2

Employee Benefits (Details) - Schedule of employee benefits liability - Employee benefits liability [Member] - MXN ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Employee Benefits (Details) - Schedule of employee benefits liability [Line Items]
Vested benefits Obligation (OBA)		$ 3,390	$ 47,159
Plus, Non-Vested Benefits Obligation	169,375	159,453	115,077
Defined Benefits Obligation	169,375	162,843	162,236
Projected Net Liability	169,375	$ 162,843	$ 162,236
Retirement benefits [Member]
Employee Benefits (Details) - Schedule of employee benefits liability [Line Items]
Vested benefits Obligation (OBA)
Plus, Non-Vested Benefits Obligation	74,007
Defined Benefits Obligation	74,007
Projected Net Liability	74,007
Termination benefits [Member]
Employee Benefits (Details) - Schedule of employee benefits liability [Line Items]
Vested benefits Obligation (OBA)
Plus, Non-Vested Benefits Obligation	95,368
Defined Benefits Obligation	95,368
Projected Net Liability	$ 95,368

Employee Benefits (Details) -_3

Employee Benefits (Details) - Schedule of net cost for the period booked in profit and loss - Net cost [Member] - MXN ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Employee Benefits (Details) - Schedule of net cost for the period booked in profit and loss [Line Items]
Service cost	$ 10,998	$ 9,299	$ 6,736
Net interest	12,101	11,121	9,306
Labor cost of past services	(11,244)	1,806	5,240
Net Cost for the period	11,855	$ 22,226	$ 21,282
Retirement benefits [Member]
Employee Benefits (Details) - Schedule of net cost for the period booked in profit and loss [Line Items]
Service cost	4,933
Net interest	6,573
Labor cost of past services	(11,136)
Net Cost for the period	370
Termination benefits [Member]
Employee Benefits (Details) - Schedule of net cost for the period booked in profit and loss [Line Items]
Service cost	6,065
Net interest	5,528
Labor cost of past services	(108)
Net Cost for the period	$ 11,485

Employee Benefits (Details) -_4

Employee Benefits (Details) - Schedule of DBO amount recorded in the balance sheet - MXN ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Dbo Amount Recorded In The Balance Sheet Abstract
Defined benefit obligations (DBO) changes in present	$ 162,843	$ 162,236
DBO present value at January 1st	162,843	162,236
Past services labor cost	(11,244)	1,806
Current service labor cost	10,998	9,299
Interest expense	12,101	11,121
Paid benefits	(9,229)
Actuarial gains and losses in obligations	3,906	(21,619)
DBO present value at December 31st	169,375	162,843
Initial PNL	162,843	162,236
Net cost for the period	11,855	22,226
Paid benefits	(9,229)
Previous years effect on profit and loss	3,906	(21,619)
Final PNL	169,375	162,843
Defined benefits obligations (DBO)	$ 169,375	$ 162,843

Income Taxes (Details)

Income Taxes (Details) R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 MXN ($)	Dec. 31, 2022 BRL (R$)	Dec. 31, 2021 MXN ($)	Dec. 31, 2020 MXN ($)
Income Taxes (Details) [Line Items]
Effective tax rate	29.99%	29.99%	31.73%	31.24%
Subsidiary of tax losses	$ 11,160,581		$ 13,835,636	$ 4,875,927
Country of domicile [Member]
Income Taxes (Details) [Line Items]
Effective tax rate	30%	30%	30%	30%
Republic [Member]
Income Taxes (Details) [Line Items]
Expiration period, description	Republic had USD$ 316.1 million of tax losses pending to amortize for federal tax purposes, of those USD $119.4 million are undefined and USD $196.7 million expire between 2033 and 2038; USD$ 280.1 million of tax losses for state and local purposes that expire between 2022 and 2040 and approximately USD$ 6.6 million of tax losses at the subsidiary located in Canada, which expire between 2032 and 2040.	Republic had USD$ 316.1 million of tax losses pending to amortize for federal tax purposes, of those USD $119.4 million are undefined and USD $196.7 million expire between 2033 and 2038; USD$ 280.1 million of tax losses for state and local purposes that expire between 2022 and 2040 and approximately USD$ 6.6 million of tax losses at the subsidiary located in Canada, which expire between 2032 and 2040.
Brazil, Brazil Real [Member]
Income Taxes (Details) [Line Items]
Subsidiary of tax losses | R$		R$ 16546
BRL [Member] | Companhia Siderurgica do Espirito Santo S.A. [Member]
Income Taxes (Details) [Line Items]
Subsidiary of tax losses	$ 60,000

Income Taxes (Details) - Schedu

Income Taxes (Details) - Schedule of income tax charged (credited) - MXN ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes (Details) - Schedule of income tax charged (credited) [Line Items]
Income taxes	$ 3,299,522	$ 4,389,769	$ 2,077,844
Mexican companies [Member]
Income Taxes (Details) - Schedule of income tax charged (credited) [Line Items]
Income taxes	2,549,851	2,564,312	1,460,057
Deferred Tax	(119,999)	(96,453)	(94,604)
Foreign countries [member]
Income Taxes (Details) - Schedule of income tax charged (credited) [Line Items]
Income taxes	599,940	1,253,895	370,860
Deferred Tax	$ 269,730	$ 668,015	$ 341,531

Income Taxes (Details) - Sche_2

Income Taxes (Details) - Schedule of income tax expense (benefit) - MXN ($) $ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule Of Income Tax Expense Benefit Abstract
Expected benefit, expense		$ 3,300,413	$ 4,084,348	$ 1,462,776
Inflation effect, net		(524,640)	(577,234)	(139,134)
Impact of the nominal rate differences between the USA and Mexico		29,996	66,343	11,075
Benefit from utilization of tax loss carry-forwards and others	[1]	80,166	(12,086)	16,173
Others, net (includes permanent items) Income tax expense		413,587	828,398	172,519
Income tax expense		$ 3,299,522	$ 4,389,769	$ 1,523,409
Effective tax rate		29.99%	31.73%	31.24%
[1]This amount corresponds to the income tax benefit obtained by those companies that used tax loss carry-forwards in the years presented that were generated previously to 2022, 2021 and 2020 , less the effect of tax losses incurred by some subsidiaries for which no deferred tax asset was recorded.

Income Taxes (Details) - Sche_3

Income Taxes (Details) - Schedule of tax losses pending of amortize $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Income Taxes (Details) - Schedule of tax losses pending of amortize [Line Items]
Tax losses available	$ 5,026,020
2013 [Member]
Income Taxes (Details) - Schedule of tax losses pending of amortize [Line Items]
Expiration Date	2023
Tax losses available	$ 7,793
2014 [Member]
Income Taxes (Details) - Schedule of tax losses pending of amortize [Line Items]
Expiration Date	2024
Tax losses available	$ 8,729
2015 [Member]
Income Taxes (Details) - Schedule of tax losses pending of amortize [Line Items]
Expiration Date	2025
Tax losses available	$ 11,036
2016 [Member]
Income Taxes (Details) - Schedule of tax losses pending of amortize [Line Items]
Expiration Date	2026
Tax losses available	$ 386,277
2017 [Member]
Income Taxes (Details) - Schedule of tax losses pending of amortize [Line Items]
Expiration Date	2027
Tax losses available	$ 303,647
2018 [Member]
Income Taxes (Details) - Schedule of tax losses pending of amortize [Line Items]
Expiration Date	2028
Tax losses available	$ 68,360
2019 [Member]
Income Taxes (Details) - Schedule of tax losses pending of amortize [Line Items]
Expiration Date	2029
Tax losses available	$ 953,370
2020 [Member]
Income Taxes (Details) - Schedule of tax losses pending of amortize [Line Items]
Expiration Date	2030
Tax losses available	$ 961,943
2021 [Member]
Income Taxes (Details) - Schedule of tax losses pending of amortize [Line Items]
Expiration Date	2031
Tax losses available	$ 1,402,495
2022 [Member]
Income Taxes (Details) - Schedule of tax losses pending of amortize [Line Items]
Expiration Date	2032
Tax losses available	$ 922,370

Income Taxes (Details) - Sche_4

Income Taxes (Details) - Schedule of deferred income tax liability - MXN ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Deferred tax assets	$ 396,338	$ 295,284
Total deferred liabilities	4,619,487	4,400,408
Deferred tax liabilities, net	4,223,149	4,105,124
Allowance for doubtful accounts [Member]
Deferred tax assets:
Deferred tax assets, gross	(67,930)	(64,511)
Advances from customers [Member]
Deferred tax assets:
Deferred tax assets, gross	464,268	359,795
Property, plant and equipment [Member]
Deferred tax assets:
Deferred tax liabilities, gross	4,209,513	3,926,450
Intangible assets from Grupo San [Member]
Deferred tax assets:
Deferred tax liabilities, gross	381,282	353,661
Provisions [Member]
Deferred tax assets:
Deferred tax liabilities, gross	17,199	76,601
Prepaid expenses [Member]
Deferred tax assets:
Deferred tax liabilities, gross	$ 11,493	$ 43,696

Stockholders' Equity (Details)

Stockholders' Equity (Details) - MXN ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Stockholders' Equity (Details) [Line Items]
Fixed capital, Shares (in Shares)	90,850,000
Percentage of legal reserve	5%
Percentage of nominal capital	20%
Legal reserve amount	$ 484,046	$ 484,046
Nominal stockholder´s equity percentage	20%	20%
Reserve	$ 7,000,000
Reserve		$ 5,000,000
Treasury shares	35,573,326	35,128,483
Treasury amount	4,266,278	2,176,149
Profit (loss) on treasury shares	$ 0	$ 0
Class I Shares [Member]
Stockholders' Equity (Details) [Line Items]
Fixed capital, Shares (in Shares)	90,850,050
Class II Shares [Member]
Stockholders' Equity (Details) [Line Items]
Fixed capital, Shares (in Shares)	406,859,164

Stockholders' Equity (Details)

Stockholders' Equity (Details) - Schedule of common stock $ in Thousands	Dec. 31, 2022 MXN ($) shares
Schedule Of Common Stock [Abstract]
Fixed capital shares (in Shares) | shares	90,850,000
Fixed capital amount	$ 441,786
Variable capital shares (in Shares) | shares	406,859,000
Variable capital amount	$ 1,978,444
Share capital, Shares (in Shares) | shares	497,709,000
Share capital, Amount	$ 2,420,230
Effect of restatement amount	$ 412,038
Total shares (in Shares) | shares	497,709,000
Total amount	$ 2,832,268

Stockholders' Equity (Details_2

Stockholders' Equity (Details) - Schedule of reconciliation of the number of shares outstanding - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Reconciliation Of The Number Of Shares Outstanding [Abstract]
Shares outstanding at beginning of year	462,581,000	463,243,000
Repurchase of capital shares, net	(445,000)	(662,000)
Shares outstanding at yearend	462,136,000	462,581,000

Non-Controlling Interest (Detai

Non-Controlling Interest (Details)	Dec. 31, 2022
Non-Controlling Interest [Abstract]
Percentage of capital stock acquired by subsidiary	99.41%

Non-Controlling Interest (Det_2

Non-Controlling Interest (Details) - Schedule of controlling and non-controlling interest - MXN ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Controlling And Non Controlling Interest Abstract
Balance at beginning of year	$ 41,161	$ 36,010
Balance at the end of the year	37,647	41,161
Share of profits and losses for the year	(1,612)	1,659
Share of translation effects of foreign subsidiaries	$ (1,902)	$ 3,492

Accumulated Other comprehensi_3

Accumulated Other comprehensive income (loss) (Details) - Schedule of accumulated other comprehensive income (loss) $ in Thousands	12 Months Ended
	Dec. 31, 2022 MXN ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of year	$ 1,288,278
Other equity instruments	(317,267)
Conversion translation adjustment on foreign subsidiaries	(1,257,453)
Balance at end of year	(286,442)
Conversion translation adjustment on foreign subsidiaries [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of year	1,288,278
Conversion translation adjustment on foreign subsidiaries	(1,257,453)
Balance at end of year	30,825
Other equity instruments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other equity instruments	(317,267)
Balance at end of year	$ (317,267)

Transactions and Balances wit_3

Transactions and Balances with Related Parties (Details)	12 Months Ended
	Dec. 31, 2022 MXN ($)	Dec. 31, 2021 MXN ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Transactions and Balances with Related Parties (Details) [Line Items]
Loan		$ 521,208,000	$ 707,851
Interest		120,494,000	217,357
Value added tax payables		18,596,000	33,945
Balance amount		660,298,000	959,153
Interest amount	$ 959,153,000	915,553,000
Industrias CH, S.A.B. de C.V. [Member]
Transactions and Balances with Related Parties (Details) [Line Items]
Loan		186,752,000
Interest		59,054,000
Value added tax payables		9,449,000
Balance amount		255,255,000
Perfiles Comerciales Sigosa, S.A. de C.V. [Member]
Transactions and Balances with Related Parties (Details) [Line Items]
Balance amount		$ 154,605,000
Amount received	$ 145,910		$ 7,742,685,000
USD [Member] | IndustriasChSabdecvMember
Transactions and Balances with Related Parties (Details) [Line Items]
Loan				$ 25,400

Transactions and Balances wit_4

Transactions and Balances with Related Parties (Details) - Schedule of transactions with related parties - MXN ($) $ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Holding company
Interest income		$ 55,848	$ 34,447	$ 41,034
Management staff
Administrative services expenditures		275,063	113,018	199,488
Other related parties
Sales		392,531	391,664	188,082
Purchases		253,931	40,081	27,507
Direct short-term benefits	[1]	$ 120,151	$ 78,321	$ 90,562
[1]Correspond to the salaries, allowances and bonuses paid to the executives of Simec.

Transactions and Balances wit_5

Transactions and Balances with Related Parties (Details) - Schedule of balances receivable from and payable to related parties - MXN ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Accounts receivable:
Total short term	$ 104,803	$ 70,232
Accounts receivable:
Total long term	648,281	648,281
Loans to related parties:
Total loans to related parties	1,105,063	1,070,158
Total, long-term	1,753,344	1,718,439
Total accounts payable	310,992	312,913
Loans from related parties:
Loans from related parties	2,381,464
Related party total	2,692,456	312,913
Industrias CH, S.A.B. de C.V. [Member]
Accounts receivable:
Total short term	62,055	6,073
Ca. Laminadora Vista Hermosa, S.A. de C.V. [Member]
Accounts receivable:
Total short term	974	628
Operadora compañía Mexicana de Tubos, S.A. de C.V. [Member]
Accounts receivable:
Total short term	824	873
Compañía Manufacturera de Tubos, S.A. de C.V. [Member]
Accounts receivable:
Total short term	2,799
Cia Tubos y Perfiles Monterrey, S.A. de C.V. [Member]
Accounts receivable:
Total short term	3,371	3,318
Operadora Perfiles Sigosa, S.A. de C.V. [Member]
Accounts receivable:
Total short term	3,999	2,872
Loans to related parties:
Total accounts payable	2,800	2,074
Operadora Construalco, S.A. de C.V. [Member]
Accounts receivable:
Total short term	606	519
Aceros y Laminados Sigosa, S.A. de C.V. [Member]
Accounts receivable:
Total short term	16,473	1,638
Loans to related parties:
Total accounts payable	24,455	7,155
Arrendadora Norte de Matamoros, S.A. de C.V. [Member]
Accounts receivable:
Total short term	1,294	1,294
Operadora Industrial de Herramientas, S.A. de C.V. [Member]
Accounts receivable:
Total short term		816
Joist del Golfo, S.A. de C.V [Member]
Accounts receivable:
Total short term	2,582	5,227
Holding Protel, S.A. de C.V. [Member]
Accounts receivable:
Total short term	304
Aceros CH, S.A. de C.V. [Member]
Accounts receivable:
Total short term	130
Sigosa Aceros, S.A. de C.V. [Member]
Accounts receivable:
Total short term	14	18,942
Loans to related parties:
Total accounts payable	7	48,096
Siderúrgicos del Golfo, S.A. de C.V. [Member]
Accounts receivable:
Total short term	832	940
Perfiles Comerciales Sigosa, S.A. de C.V. [Member]
Accounts receivable:
Total short term	4,125	25,588
Pytsa Industrial de Mexico. S.A. de C.V. [Member]
Accounts receivable:
Total short term	438	438
Aceros y Laminados Sigosa, S.A. de C.V. [Member]
Accounts receivable:
Total short term		820
Acertam, S.A. de C.V. [Member]
Accounts receivable:
Total short term	785
Servicios Estructurales, S.A. de C.V. [Member]
Accounts receivable:
Total short term	3,047
Others [Member]
Accounts receivable:
Total short term	151	246
Loans to related parties:
Total accounts payable	195	188
Industrias CH, S.A.B. de C.V. [Member]
Accounts receivable:
Total long term	648,281	648,281
Industrias CH, S.A.B de C.V. (in Dollars) [Member]
Loans to related parties:
Total loans to related parties	959,153	915,553
Perfiles Comerciales Sigosa, S.A. de C.V. (in Dollars) [Member]
Loans to related parties:
Total loans to related parties	145,910	154,605
Industrias CH, S.A.B. de C.V. [Member]
Loans to related parties:
Total accounts payable	245,388	214,294
Perfiles Comeciales Sigosa, S.A. de C.V. [Member]
Loans to related parties:
Total accounts payable	3,802	3,802
Holding Protel, S.A. de C.V. [Member]
Loans to related parties:
Total accounts payable	251	251
Compañia Laminadora Vista Hermosa, S.A. de C.V. [Member]
Loans to related parties:
Total accounts payable	518	445
Operadora Pytsa Industrial, S.A. de C.V. [Member]
Loans to related parties:
Total accounts payable	8,353	11,603
Comercializadora SIGOSA, S.A. de C.V.[Member]
Loans to related parties:
Total accounts payable		2,532
Compañia Manufacturera de Tubos, S.A. de C.V. [Member]
Loans to related parties:
Total accounts payable	9,837	7,174
Operadora Compañia Mexicana de Tubos, S.A. de C.V. [Member]
Loans to related parties:
Total accounts payable	7,583	7,090
Cía. Mexicana de Perfiles y Tubos, S.A. de C.V. [Member]
Loans to related parties:
Total accounts payable	595	595
Industrias Procarsa, S.A. de C.V. [Member]
Loans to related parties:
Total accounts payable	139	156
Ferrovisa, S.A. de C.V. [Member]
Loans to related parties:
Total accounts payable	7,069	$ 7,458
Operadora de Perfiles Sigosa, S.A. de C.V. [Member]
Loans from related parties:
Loans from related parties	$ 2,381,464

Cost of Sales and Expenses by_3

Cost of Sales and Expenses by their Nature (Details) - Schedule of cost of sales and administration expenses - MXN ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cost of Sales and Expenses by their Nature (Details) - Schedule of cost of sales and administration expenses [Line Items]
Cost of sales and expenses	$ 42,140,561	$ 42,010,828	$ 31,231,052
Cost of sales	39,683,861	39,968,186	29,211,724
Administrative expenses	2,456,700	2,042,642	2,019,328
Cost of sales administrative expenses	42,140,561	42,010,828	31,231,052
Raw materials and consumables [Member]
Cost of Sales and Expenses by their Nature (Details) - Schedule of cost of sales and administration expenses [Line Items]
Cost of sales and expenses	27,080,462	26,298,681	16,343,140
Electrical energy [Member]
Cost of Sales and Expenses by their Nature (Details) - Schedule of cost of sales and administration expenses [Line Items]
Cost of sales and expenses	2,586,918	3,530,134	2,820,667
Ferroalloys [Member]
Cost of Sales and Expenses by their Nature (Details) - Schedule of cost of sales and administration expenses [Line Items]
Cost of sales and expenses	2,232,759	2,396,516	1,617,352
Refractories [Member]
Cost of Sales and Expenses by their Nature (Details) - Schedule of cost of sales and administration expenses [Line Items]
Cost of sales and expenses	767,691	810,315	629,758
Oxygen [Member]
Cost of Sales and Expenses by their Nature (Details) - Schedule of cost of sales and administration expenses [Line Items]
Cost of sales and expenses	297,302	293,217	248,029
Electrodes [Member]
Cost of Sales and Expenses by their Nature (Details) - Schedule of cost of sales and administration expenses [Line Items]
Cost of sales and expenses	542,117	444,201	434,265
Gas and fuels [Member]
Cost of Sales and Expenses by their Nature (Details) - Schedule of cost of sales and administration expenses [Line Items]
Cost of sales and expenses	1,541,817	1,161,994	767,823
Labor [Member]
Cost of Sales and Expenses by their Nature (Details) - Schedule of cost of sales and administration expenses [Line Items]
Cost of sales and expenses	2,272,304	2,024,419	1,831,225
Operation materials [Member]
Cost of Sales and Expenses by their Nature (Details) - Schedule of cost of sales and administration expenses [Line Items]
Cost of sales and expenses	1,366,947	1,339,692	1,033,597
Depreciation and amortization [Member]
Cost of Sales and Expenses by their Nature (Details) - Schedule of cost of sales and administration expenses [Line Items]
Cost of sales and expenses	1,116,872	1,175,108	1,452,271
Maintenance [Member]
Cost of Sales and Expenses by their Nature (Details) - Schedule of cost of sales and administration expenses [Line Items]
Cost of sales and expenses	1,250,897	1,561,716	1,262,728
Other expenses [Member]
Cost of Sales and Expenses by their Nature (Details) - Schedule of cost of sales and administration expenses [Line Items]
Cost of sales and expenses	$ 1,084,475	$ 974,835	$ 2,790,197

Other income (expenses), net (D

Other income (expenses), net (Details) - Schedule of other income (expenses) net - MXN ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Other Income (Expenses) Net [Abstract]
Cancellation of balances		$ (157,834)
Land treatments in Pacific Steel, Inc.	$ (3,327)	(2,088)	$ (2,708)
Attorney’s fees
Bad debt estimate	(21,983)	(19,398)
Other expenses	(25,310)	(179,320)	(2,708)
Sale of scrap	2,450	9,993	232,157
Recovery of losses	327	9,623
Brazil tax benefits			256,698
Update of balances in favor in taxes	85,597	64,915
Agreements with clients			27,869
Other income	8,781	17,383	32,733
Other income	97,155	101,914	549,457
Other income and other (expenses), net	$ 71,845	$ (77,406)	$ 546,749

Financial Instruments (Details)

Financial Instruments (Details)	12 Months Ended
	Dec. 31, 2022
Financial instruments [Abstract]
Concentration of credit risk percentage	5%

Financial Instruments (Detail_2

Financial Instruments (Details) - Schedule of book value of the monetary assets and monetary liabilities denominated in foreign currency - MXN ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Book Value Of The Monetary Assets And Monetary Liabilities Denominated In Foreign Currency [Abstract]
Short - term assets	$ 28,953,307	$ 20,783,197
Short - term liabilities	10,367,193	8,434,451
Net monetary asset position in foreign currency	18,586,114	12,348,746
Equivalent in U.S. Dollars (thousands)	$ 959,952	$ 601,917

Financial Instruments (Detail_3

Financial Instruments (Details) - Schedule of additional bank lines of credit that the company has at its disposal to reduce liquidity risk - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Bank loans credit lines:
Drawn balances	$ 200,000	$ 350,000
Undrawn balances	169,035	183,942
Available line balance	$ 30,965	$ 166,058

Financial Information by Segm_3

Financial Information by Segments (Details) - Schedule of financial information by segments - MXN ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Financial Information by Segments (Details) - Schedule of financial information by segments [Line Items]
Net sales	$ 54,159,247	$ 55,620,356	$ 35,869,314
Cost of sales	(39,683,861)	(39,968,186)	(29,211,724)
Gross profit (loss)	14,475,386	15,652,170	6,657,590
Administrative expenses	(2,456,700)	(2,042,642)	(2,019,328)
Other income (expenses), net	71,845	(77,406)	546,749
Interest income		65,948	107,826
Interest income and dividends	445,879
Interest expense	(56,352)	(87,445)	(53,746)
Loss on financial instruments	(778,649)
Exchange rate gain (loss), net	(540,828)	325,011	(363,164)
Income (loss) before income taxes	11,160,581	13,835,636	4,875,927
Income taxes	(3,299,522)	(4,389,769)	2,077,844
Net income (loss) for the year	7,861,059	9,445,867	2,798,083
Depreciation and Amortization	1,116,872	1,175,108	1,452,271
Total assets	67,632,903	57,342,572	45,503,647
Total liabilities	19,638,527	15,542,504	12,484,988
Acquisitions of property, plant and equipment	1,696,485	1,066,422	951,205
Mexico [Member]
Financial Information by Segments (Details) - Schedule of financial information by segments [Line Items]
Net sales	30,914,890	29,678,133	19,660,889
Cost of sales	(21,575,758)	(21,337,462)	(15,459,258)
Gross profit (loss)	9,339,132	8,340,671	4,201,631
Administrative expenses	(1,096,330)	(907,798)	(1,117,817)
Other income (expenses), net	(71,202)	(77,530)	52,656
Interest income		65,631	107,605
Interest income and dividends	415,704
Interest expense	(485)	(28,904)	(5,108)
Loss on financial instruments	(778,649)
Exchange rate gain (loss), net	(540,770)	325,389	(483,822)
Income (loss) before income taxes	7,267,400	7,717,459	2,755,145
Income taxes	(2,565,834)	(2,472,751)	1,747,568
Net income (loss) for the year	4,701,566	5,244,708	1,007,577
Depreciation and Amortization	627,078	667,167	693,362
Total assets	44,025,917	47,917,643	33,386,043
Total liabilities	8,375,028	7,828,384	6,944,579
Acquisitions of property, plant and equipment	151,783	367,496	278,700
USA [Member]
Financial Information by Segments (Details) - Schedule of financial information by segments [Line Items]
Net sales	5,867,193	8,216,595	5,549,366
Cost of sales	(5,764,239)	(7,159,354)	(5,677,213)
Gross profit (loss)	102,954	1,057,241	(127,847)
Administrative expenses	(286,611)	(256,875)	(240,726)
Other income (expenses), net	1,015,586	454,303	505,946
Interest income		317	222
Interest income and dividends	30,175
Interest expense	(55,867)	(61,494)	(16,104)
Exchange rate gain (loss), net	(58)	(378)	1,510
Income (loss) before income taxes	806,179	1,193,114	123,001
Income taxes	(88,679)	(477,380)	118,926
Net income (loss) for the year	717,500	715,734	4,075
Depreciation and Amortization	236,601	270,119	332,186
Total assets	12,930,111	10,836,083	9,237,831
Total liabilities	7,243,113	5,544,135	4,797,682
Acquisitions of property, plant and equipment	252,116	288,487	41,054
Brazil [Member]
Financial Information by Segments (Details) - Schedule of financial information by segments [Line Items]
Net sales	17,377,164	17,725,628	10,659,059
Cost of sales	(12,343,864)	(11,471,370)	(8,075,253)
Gross profit (loss)	5,033,300	6,254,258	2,583,806
Administrative expenses	(1,618,151)	(877,969)	(660,785)
Other income (expenses), net	140,205	1,793	(11,854)
Interest income			0
Interest expense	(383,646)	(96,486)	(66,007)
Exchange rate gain (loss), net	(60,625)	(120,300)	(1,096,416)
Income (loss) before income taxes	3,111,083	5,161,296	748,744
Income taxes	(645,009)	(1,439,638)	211,350
Net income (loss) for the year	2,466,074	3,721,658	537,394
Depreciation and Amortization	253,193	237,822	426,723
Total assets	14,149,332	8,815,051	5,807,121
Total liabilities	7,492,843	12,396,190	3,670,075
Acquisitions of property, plant and equipment	1,292,586	410,439	631,451
Eliminations between segments [Member]
Financial Information by Segments (Details) - Schedule of financial information by segments [Line Items]
Administrative expenses	544,392
Other income (expenses), net	(1,012,744)	(455,972)
Interest expense	383,646	99,439	33,473
Exchange rate gain (loss), net	60,625	120,300	1,215,564
Income (loss) before income taxes	(24,081)	(236,233)	1,249,037
Net income (loss) for the year	(24,081)	(236,233)	1,249,037
Total assets	(3,472,457)	(10,226,205)	(2,927,348)
Total liabilities	$ (3,472,457)	$ (10,226,205)	$ (2,927,348)

Contingencies (Details)

Contingencies (Details) $ in Thousands

1 Months Ended

12 Months Ended

Dec. 11, 2020 USD ($)

Sep. 05, 2017 USD ($)

Dec. 09, 2016 MXN ($)

Mar. 31, 2021 USD ($)

Dec. 31, 2022 USD ($) Tons

Dec. 31, 2021 USD ($)

Dec. 31, 2020 USD ($)

Dec. 31, 2018 USD ($)

Dec. 31, 2016 USD ($)

Dec. 31, 2017 USD ($)

Jul. 23, 2015

Jul. 26, 2004

Contingencies (Details) [Line Items]

Obligated amount paid description

the court issued a judgment, whereby PS was obligated to pay USD$ 0.2 million, which has been paid.

Disposition of stack estimated tons (in Tons) | Tons

8,000

Attorney general transaction description

the Attorney General denied the extension requested by PS and demanded the immediate shipments of the RCRA stack to an authorized landfill. PS began transporting RCRA soil on July, 29, 2015, and completed removal of the RCRA stack by September 12, 2015 with a total of 3,000 metric tons.

Environmental liabilities

$ 2,500,000

$ 2,500,000

$ 2,500,000

Current and non-current portions of reserve amounted

$ 1,000,000

$ 1,000,000

$ 1,500,000

Equipment to work properly expenses

$ 5,000,000

Payments on several changes of dates

$ 450,000

Interest expense

$ 6,372,306

$ 4,178,517

Sale and use tax amount (in Pesos)

$ 2,452,028

Other interest (in Pesos)

$ 394,138

Received an appraisal amount

$ 1,631,827

Corrective Action Consent Agreement [Member]

Contingencies (Details) [Line Items]

Civil penalty

$ 138,000

International Court of Arbitration [Member]

Contingencies (Details) [Line Items]

Current and non-current portions of reserve amounted

$ 1,400,000

January 1, 2014 to September 30, 2018 [Member]

Contingencies (Details) [Line Items]

Received an appraisal interest amount

$ 339,885

Commitments (Details)

Commitments (Details) Tons in Thousands				1 Months Ended	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 20, 2020 USD ($)	Feb. 22, 2018 USD ($)	Jan. 31, 2013	Dec. 31, 2022 USD ($) m² Tons	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Jun. 30, 2023 USD ($)
Commitments (Details) [Line Items]
Rental expense					$ 0	$ 0	$ 100,000
Contract term				5 years
Recognized income					600,000	$ 1,200,000	$ 1,100,000
Budget			$ 24,000,000
Cost of project					1,000,000
Cost amount					415,000
Commiting to pay		$ 4,000,000
Total value		$ 105,000,000
Supplier amount					$ 33,900,000			$ 9,480,000
Purchase energy	$ (17,050,000)
Purchase of energy					16,500,000
Cariacica [Member]
Commitments (Details) [Line Items]
Produce of metric tons | Tons					600
Rolled Steel Products [Member]
Commitments (Details) [Line Items]
Produce of metric tons | Tons					450
Espírito Santo [Member]
Commitments (Details) [Line Items]
Square meters (in Square Meters) | m²					1,200,000
Itauna [Member]
Commitments (Details) [Line Items]
Produce of metric tons | Tons					120
NRG Curtailment Solutions, Inc. [Member]
Commitments (Details) [Line Items]
Contract term				5 years
Bottom of range [Member]
Commitments (Details) [Line Items]
Produce of metric tons			17,500
Top of range [Member]
Commitments (Details) [Line Items]
Produce of metric tons			22,500

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Thousands		1 Months Ended
	Dec. 07, 2022	Mar. 30, 2022	Nov. 30, 2021	Sep. 30, 2021	Jan. 16, 2020
Subsequent Events [Abstract]
Preliminary rate			66.70%		6.75%
Preliminary tariff reduction rate					1.46%
Established Percentage				4.93%
Payment amount (in Dollars)		$ 189
Federal rate percentage	6.35%