Company: TNRSF
Filing Date: 2025-02-21
Form Type: 6-K
Source: 0001171843-25-000987
Chunk: 20

Company: TENARIS SA
Filing Date: 2025-02-21
Form: 6-K
Chunk 20
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 than its estimated recoverable amount.

Management’s re-estimation of assets useful lives, performed in accordance
with IAS 16, “Property, Plant and Equipment”, resulted in additional depreciation expenses of approximately $25.2
million in 2024, did not materially affect depreciation expenses in 2023 and resulted in additional depreciation expenses of approximately
$39.1 million in 2022.

Tenaris depreciates each significant part of an item of property, plant
and equipment for its different production facilities that (i) can be properly identified as an independent component with a cost that
is significant in relation to the total cost of the item, and (ii) has a useful operating life that is different from another significant
part of that same item of property, plant and equipment.

Gains and losses on disposals are determined by comparing the proceeds
with the carrying amount of assets and are recognized under Other operating incomeor Other operating expenses in the Consolidated
Income Statement.

| F | Intangible assets |

| (1) | Goodwill |

Goodwill represents the excess of the acquisition cost over the fair value of Tenaris’s share of net identifiable assets acquired as part of business combinations determined mainly by independent valuations. Goodwill is tested at least annually for impairment and carried at cost less accumulated impairment losses. Impairment losses on goodwill are not reversed. Goodwill is included in the Consolidated Statement of Financial Position underIntangible assets, net.

For the purpose of impairment testing, goodwill is allocated to a cash generating unit (“CGU”) or group of CGUs that are expected to benefit from the business combination which generated the goodwill being tested.

| - 16 - |

| Consolidated Financial Statements                                                                           |
| For the years ended 2024, 2023 and 2022 - all amounts in thousands of U.S. dollars, unless otherwise stated |

| (2) | Information systems projects |

Costs associated with maintaining computer software programs are generally
recognized as an expense as incurred. However, costs directly related to the development, acquisition and implementation of information
systems are recognized as intangible assets if it is probable that they have economic benefits exceeding one year and comply with the
recognition criteria of IAS 38, “Intangible Assets”.

Information systems projects recognized as assets are amortized using the
straight-line method over their useful lives, generally not exceeding a period of 3 years. Amortization charges are mainly classified
as Selling, general and administrative expenses in the Consolidated Income Statement