Cover
Cover | 12 Months Ended |
Dec. 31, 2022 shares | |
Entity Addresses [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Registration Statement | false |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
Document Period End Date | Dec. 31, 2022 |
Document Fiscal Period Focus | FY |
Document Fiscal Year Focus | 2022 |
Current Fiscal Year End Date | --12-31 |
Entity File Number | 001-14732 |
Entity Registrant Name | NATIONAL STEEL CO |
Entity Central Index Key | 0001049659 |
Entity Incorporation, State or Country Code | D5 |
Entity Address, Address Line One | Av. Brigadeiro Faria Lima, 3400 – 20th floor |
Entity Address, City or Town | São Paulo |
Entity Address, Country | BR |
Entity Address, Postal Zip Code | 04538-132 |
Title of 12(b) Security | American Depositary Shares |
Trading Symbol | SID |
Security Exchange Name | NYSE |
Entity Well-known Seasoned Issuer | Yes |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Emerging Growth Company | false |
Document Accounting Standard | International Financial Reporting Standards |
Entity Shell Company | false |
Entity Common Stock, Shares Outstanding | 1,326,093,947 |
ICFR Auditor Attestation Flag | true |
Auditor Name | Grant Thornton Auditores Independentes Ltda. |
Auditor Location | São Paulo, Brazil |
Auditor Firm ID | 5270 |
Business Contact [Member] | |
Entity Addresses [Line Items] | |
Entity Address, Address Line One | Av. Brigadeiro Faria Lima, 3400 – 20th floor |
Entity Address, City or Town | São Paulo |
Entity Address, Country | BR |
Entity Address, Postal Zip Code | 04538-132 |
City Area Code | 55 |
Local Phone Number | 3049-7454 |
Contact Personnel Name | Marcelo Cunha Ribeiro |
Contact Personnel Email Address | invrel@csn.com.br |
Consolidated Balance Sheets
Consolidated Balance Sheets - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
CURRENT ASSETS | ||
Cash and cash equivalents | R$ 11991356 | R$ 16646480 |
Financial investments | 1,456,485 | 2,644,732 |
Trade receivables | 3,233,164 | 2,597,838 |
Inventories | 11,289,229 | 10,943,835 |
Recoverable taxes | 1,865,626 | 1,655,349 |
Other current assets | 776,500 | 484,120 |
Total current assets | 30,612,360 | 34,972,354 |
Long-term assets | ||
Financial investments | 156,185 | 147,671 |
Deferred taxes | 5,095,718 | 5,072,092 |
Inventories | 1,045,665 | 656,193 |
Recoverable taxes | 1,317,132 | 965,026 |
Other non current assets | 4,749,718 | 4,365,755 |
Total | 12,364,418 | 11,206,737 |
Investments | 5,219,082 | 4,011,828 |
Property, plant and equipment | 26,370,445 | 21,531,134 |
Intangible assets | 10,788,054 | 7,657,050 |
Total noncurrent assets | 54,741,999 | 44,406,749 |
TOTAL ASSETS | 85,354,359 | 79,379,103 |
CURRENT LIABILITIES | ||
Borrowings and financing | 5,193,636 | 5,486,859 |
Payroll and related taxes | 422,495 | 328,443 |
Trade payables | 6,596,915 | 6,446,999 |
Taxes payables | 870,333 | 3,308,614 |
Provisions for tax, social security, labor and civil risks | 73,089 | 66,047 |
Advances from customers | 1,120,072 | 2,140,783 |
Dividends and interest on equity payable | 611,307 | 1,206,870 |
Trade payables – forfaiting and drawee risk | 5,709,069 | 4,439,967 |
Other payables | 1,878,203 | 1,117,034 |
Total current liabilities | 22,475,119 | 24,541,616 |
NONCURRENT LIABILITIES | ||
Borrowings and financing | 35,725,106 | 27,020,663 |
Deferred income taxes | 216,950 | 503,081 |
Provisions for tax, social security, labor and civil risks | 1,411,736 | 508,305 |
Pension and healthcare plan | 555,329 | 584,288 |
Provision for environmental liabilities and decommissioning of assets | 937,657 | 898,597 |
Other payables | 2,216,418 | 1,948,164 |
Total non current liabilities | 41,063,196 | 31,463,098 |
Shareholders' equity | ||
Paid-in capital | 10,240,000 | 10,240,000 |
Capital reserves | 32,720 | 32,720 |
Legal reserves | 1,158,925 | 1,081,222 |
Earnings reserves | 7,829,517 | 9,948,596 |
Treasury shares | (936,930) | |
Other comprehensive income | 228,305 | (50,610) |
Total equity attributable to owners of the Company | 19,489,467 | 20,314,998 |
Non-controlling interests | 2,326,577 | 3,059,391 |
Total shareholders' equity | 21,816,044 | 23,374,389 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | R$ 85354359 | R$ 79379103 |
Consolidated Statements of Inco
Consolidated Statements of Income - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Profit or loss [abstract] | |||
Net revenue from sales | R$ 44362120 | R$ 47912039 | R$ 30064020 |
Cost of sales and/or services | (31,054,016) | (25,837,475) | (19,124,901) |
Gross profit | 13,308,104 | 22,074,564 | 10,939,119 |
Operating income (expenses) | (5,666,642) | (1,534,602) | (5,224,682) |
Selling expenses | (2,575,818) | (2,372,298) | (2,004,417) |
General and administrative expenses | (674,119) | (587,148) | (504,458) |
Equity earnings of affiliated companies | 237,917 | 182,504 | 71,755 |
Other operating income | 253,233 | 2,958,372 | 482,494 |
Other operating expenses | (2,907,855) | (1,716,032) | (3,270,056) |
Profit before financial results and income taxes | 7,641,462 | 20,539,962 | 5,714,437 |
Financial income | (78,220) | 1,167,184 | 1,802,728 |
Financial expenses | (3,436,805) | (3,111,368) | (2,599,039) |
Profit before income taxes | 4,126,437 | 18,595,778 | 4,918,126 |
Income tax and social contribution | (1,958,739) | (5,000,157) | (625,508) |
Net income for the year | 2,167,698 | 13,595,621 | 4,292,618 |
Net income for the year attributed to: | |||
Controlling interests | 1,554,060 | 12,258,628 | 3,794,295 |
Non-controlling interests | R$ 613638 | R$ 1336993 | R$ 498323 |
Basic earnings per share | R$ 1.17108 | R$ 8.90654 | R$ 2.74926 |
Diluted earnings per share | R$ 1.17108 | R$ 8.90654 | R$ 2.74926 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Profit or loss [abstract] | |||
Net income for the year | R$ 2167698 | R$ 13595621 | R$ 4292618 |
Items that will not be subsequently reclassified to the statement of income | |||
Actuarial gains on defined benefit plan from investments in subsidiaries | 1,254 | 698 | 879 |
Actuarial gains on defined benefit pension plan | 16,278 | 300,455 | 132,059 |
Total Items that will not be subsequently reclassified to the statement of income | 17,532 | 301,153 | 132,938 |
Items that could be subsequently reclassified to the statement of income | |||
Cumulative translation adjustments for the year | (534,300) | (8,097) | 581,175 |
Gains on change in percentage of investments | 6,102 | ||
Losses on net investment hedge in foreign subsidiaries | (4,824) | ||
(Loss)/gain on cash flow hedge accounting, net of taxes | (243,942) | 795,923 | (5,537,174) |
Cash flow hedge accounting reclassified to statement of income upon realization, net of taxes | 1,393,034 | 525,290 | 1,667,886 |
Loss cash flow hedge accounting - reflection of investments in subsidiaries, net of taxes | 56,466 | 18,300 | 186,878 |
Cash flow hedge of subsidiaries reclassified to income, net of taxes | (553,849) | (17,755) | (187,423) |
Treasury shares acquired by subsidiary | (651,016) | ||
Total Items that could be subsequently reclassified to the statement of income | 117,409 | 662,645 | (3,287,380) |
Other comprehensive income | 134,941 | 963,798 | (3,154,442) |
Comprehensive income for the year | 2,302,639 | 14,559,419 | 1,138,176 |
Attributable to: | |||
Attributed to owners of the Company | 1,790,341 | 13,364,223 | 640,052 |
Attributed to non-controlling interests | 512,298 | 1,195,196 | 498,124 |
Total | R$ 2302639 | R$ 14559419 | R$ 1138176 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Statement of cash flows [abstract] | |||
Net income for the year | R$ 2167698 | R$ 13595621 | R$ 4292618 |
Adjustments to reconcile net income to net cash provided by operations: | |||
Accrued charges on borrowings and financing | 2,459,769 | 2,053,547 | 1,909,546 |
Charges on loans and financing granted | (152,484) | (61,632) | (32,684) |
Depreciation/ depletion / amortization | 2,877,656 | 2,218,192 | 2,522,063 |
Equity earnings of affiliated companies | (237,917) | (182,504) | (71,755) |
Charges on lease liabilities | 69,510 | 62,470 | 54,236 |
Deferred income tax and social contribution | 420,773 | 759,355 | (1,426,696) |
Provision for tax, social security, labor and civil risks | 92,263 | (61,404) | 4,405 |
Monetary variations and exchange differences | (105,919) | 1,039,420 | 2,010,056 |
Additions(reversals) of PP&E provisions for losses, net of write-offs | (24,914) | 74,260 | 12,998 |
Provision (Reversal) for consumption and services | 25,273 | 41,450 | (29,057) |
Investment impairment reversal | (387,989) | ||
Provision for environmental liabilities and decommissioning of assets | (6,899) | 92,406 | 10,388 |
Financial investments - shares – Fair value through profit or loss (VJR) | 1,293,784 | 11,293 | (1,203,068) |
Receivables by indemnity | (422,254) | (17,713) | (517,183) |
Net gains on the sale of the shares of Usiminas | (505,844) | ||
Net gains on the sale of the shares of CSN Mineração | (2,472,497) | ||
Dividends of USIMINAS | (113,697) | (196,838) | (3,989) |
Other provisions | (6,267) | (18,369) | (27,681) |
Total Adjustments to reconcile net income (loss) to net cash provided by operations | 7,948,386 | 16,431,213 | 7,504,197 |
Changes in assets and liabilities | |||
Trade receivables - third parties | (1,331,126) | 1,233,727 | (594,731) |
Trade receivables - related parties | (72,187) | (23,220) | 49,412 |
Inventories | (734,991) | (6,352,079) | 755,571 |
Receivables from related parties/Dividends | 176,447 | 206,475 | 90,306 |
Recoverable taxes | (278,370) | (65,161) | 865,984 |
Judicial deposits | (39,277) | (14,688) | 50,028 |
Compulsory loan received | 370,000 | ||
Trade payables | (479,693) | 1,173,033 | 2,103,283 |
Trade payables – forfaiting and drawee risk | 1,269,102 | 3,816,106 | (497,451) |
Payroll and related taxes | 31,894 | 46,653 | (43,649) |
Taxes in installments | (2,505,758) | 1,221,191 | 1,654,135 |
Payables to related parties | 21,115 | (28,909) | 12,019 |
Advance from customer | (863,370) | (697,137) | (10,011) |
Advance from electric energy contracts | 642,240 | ||
Interest paid | (2,315,586) | (2,137,782) | (1,922,130) |
Cash flow hedge accounting paid | 64,436 | (12,573) | (299,585) |
Other | 139,531 | (3,586) | (140,504) |
Increase (Decrease) in assets and liabilities | (5,905,593) | (1,637,950) | 2,072,677 |
Net cash generated by operating activities | 2,042,793 | 14,793,263 | 9,576,874 |
Investments / acquisition of shares | (662,761) | (296,357) | (132,197) |
Purchase of property, plant and equipment | (3,352,210) | (2,864,707) | (1,683,839) |
Loans granted to related parties | (119,536) | (123,656) | (101,631) |
Loans received from related parties | 14,584 | ||
Financial investment, net of redeemed amount | 21,568 | 1,504,770 | 39,428 |
Net cash received from sale of CSN Mineração's shares | 3,164,612 | ||
Cash received from acquisition of investment in Elizabeth | 54,768 | ||
Deposit in guarantee for the acquisition of LafargeHolcim | (263,750) | ||
Price paid in acquisition of Elizabeth´s | (727,752) | ||
Cash received from acquisition of investments Metalgráfica | 569 | ||
Price paid in acquisition of Topázio Energética, Santa Ana and Brasil Central | (466,153) | ||
Cash received from Acquisition of investments in Topázio Energética and Santa Ana | 5,095 | ||
Price paid in acquisition of CSN Cimentos Brasil | (4,770,354) | ||
Cash received in the acquisition of CSN Cimentos Brasil | 496,445 | ||
Price paid in acquisition of CEEE-G | (928,000) | ||
Cash received in the acquisition of CSN Cimentos Brasil | 661,864 | ||
Price paid in acquisition of Energética Chapecó | (358,634) | ||
Cash received from acquisition of investments Chapecó | 41,693 | ||
Price paid in acquisition of concession rights | (2,024,118) | ||
Net cash used in (generated by) investing activities | (11,454,532) | 447,928 | (1,863,655) |
Borrowings and financing raised | 20,187,894 | 12,845,544 | 8,085,902 |
Cost of borrowing | (334,709) | (162,852) | (39,174) |
Payment of borrowings | (10,782,858) | (17,639,178) | (6,448,658) |
Amortization of leases | (155,995) | (114,303) | (103,648) |
Payment of dividends and interests on shareholder’s equity | (3,756,738) | (3,290,544) | (309,350) |
Issuance of new CSN Mineração's shares | 1,347,862 | ||
Share repurchase | (410,568) | (1,516,388) | |
Net cash used in (generated by) financing activities | 4,747,026 | (8,529,859) | 1,185,072 |
Exchange rate changes on cash and cash equivalents of foreign subsidiaries | 9,589 | (9,438) | (42,660) |
Increase (Decrease) in cash and cash equivalents | (4,655,124) | 6,701,894 | 8,855,631 |
Cash and cash equivalents at the beginning of the year | 16,646,480 | 9,944,586 | 1,088,955 |
Cash and cash equivalents at the end of the year | R$ 11991356 | R$ 16646480 | R$ 9944586 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Shareholders' Equity - BRL (R$) R$ in Thousands | Paid In Capital [Member] | Capital reserve [member] | Miscellaneous other reserves [member] | Retained earnings [member] | Accumulated other comprehensive income [member] | Equity attributable to owners of parent [member] | Non-controlling interests [member] | Total |
Beginning balance, value at Dec. 31, 2019 | R$ 4540000 | R$ 32720 | R$ 4431200 | R$ 1170624 | R$ 10174544 | R$ 1187388 | R$ 11361932 | |
IfrsStatementLineItems [Line Items] | ||||||||
Capital transactions with shareholders | 1,500,000 | (1,500,000) | (901,145) | (901,145) | (347,458) | (1,248,603) | ||
Proposed capital increase | 1,500,000 | (1,500,000) | ||||||
Dividends | (901,145) | (901,145) | (296,936) | (1,198,081) | ||||
Interest on equity | (50,522) | (50,522) | ||||||
Total comprehensive income | 3,794,295 | (3,154,243) | 640,052 | 498,124 | 1,138,176 | |||
Net income for the year | 3,794,295 | 3,794,295 | 498,323 | 4,292,618 | ||||
Other comprehensive income | (3,154,243) | (3,154,243) | (199) | (3,154,442) | ||||
Cumulative translation adjustments for the year | 581,175 | 581,175 | 581,175 | |||||
Actuarial gain/(loss) on defined benefit pension plan, net of taxes | 133,069 | 133,069 | (131) | 132,938 | ||||
(Loss)/gain on the percentage change in investments | 6,102 | 6,102 | 6,102 | |||||
Gain/(loss) on cash flow hedge accounting, net of taxes | (3,869,765) | (3,869,765) | (68) | (3,869,833) | ||||
Gain/(loss) on hedge of net investments in foreign subsidiaries | (4,824) | (4,824) | (4,824) | |||||
Internal changes in shareholders’ equity | 2,893,150 | (2,893,150) | ||||||
Constitution of reserves | 2,893,150 | (2,893,150) | ||||||
Ending balance, value at Dec. 31, 2020 | 6,040,000 | 32,720 | 5,824,350 | (1,983,619) | 9,913,451 | 1,338,054 | 11,251,505 | |
IfrsStatementLineItems [Line Items] | ||||||||
Capital transactions with shareholders | 4,200,000 | (5,078,666) | (2,911,424) | 827,414 | (2,962,676) | 526,141 | (2,436,535) | |
Proposed capital increase | 4,200,000 | (4,200,000) | 294,900 | 294,900 | ||||
Treasury shares acquired | (878,666) | (878,666) | (878,666) | |||||
Dividends | (2,654,471) | (2,654,471) | (598,095) | (3,252,566) | ||||
Interest on equity | (256,953) | (256,953) | (95,895) | (352,848) | ||||
Net gain of transaction primary and secondary distribution shares of CSN Mineração | 829,486 | 829,486 | 923,159 | 1,752,645 | ||||
Total comprehensive income | 12,258,628 | 1,105,595 | 13,364,223 | 1,195,196 | 14,559,419 | |||
Net income for the year | 12,258,628 | 12,258,628 | 1,336,993 | 13,595,621 | ||||
Other comprehensive income | 1,105,595 | 1,105,595 | (141,797) | 963,798 | ||||
Cumulative translation adjustments for the year | (8,097) | (8,097) | (8,097) | |||||
Actuarial gain/(loss) on defined benefit pension plan, net of taxes | 301,379 | 301,379 | (226) | 301,153 | ||||
(Loss)/gain on the percentage change in investments | (2,072) | (2,072) | 2,072 | |||||
Gain/(loss) on cash flow hedge accounting, net of taxes | 1,321,690 | 1,321,690 | 68 | 1,321,758 | ||||
Internal changes in shareholders’ equity | 9,347,204 | (9,347,204) | ||||||
Constitution of reserves | 9,347,204 | (9,347,204) | ||||||
Treasury shares acquired by subsidiary | (509,377) | (509,377) | (141,639) | (651,016) | ||||
Ending balance, value at Dec. 31, 2021 | 10,240,000 | 32,720 | 10,092,888 | (50,610) | 20,314,998 | 3,059,391 | 23,374,389 | |
IfrsStatementLineItems [Line Items] | ||||||||
Capital transactions with shareholders | (1,959,295) | (699,211) | 42,634 | (2,615,872) | (1,024,834) | (3,640,706) | ||
Treasury shares acquired | (395,180) | (395,180) | (1,638) | (396,818) | ||||
Dividends | (1,564,115) | (1,564,115) | (867,399) | (2,431,514) | ||||
Interest on equity | (700,000) | (700,000) | (155,788) | (855,788) | ||||
Others | 789 | 789 | (9) | 780 | ||||
Total comprehensive income | 1,554,060 | 236,281 | 1,790,341 | 292,020 | 2,082,361 | |||
Net income for the year | 1,554,060 | 1,554,060 | 613,638 | 2,167,698 | ||||
Other comprehensive income | 236,281 | 236,281 | (321,618) | (85,337) | ||||
Cumulative translation adjustments for the year | (534,300) | (534,300) | (321,618) | (855,918) | ||||
Actuarial gain/(loss) on defined benefit pension plan, net of taxes | 18,172 | 18,172 | 18,172 | |||||
(Loss)/gain on the percentage change in investments | 42,634 | 42,634 | 42,634 | |||||
Gain/(loss) on cash flow hedge accounting, net of taxes | 752,409 | 752,409 | 752,409 | |||||
Internal changes in shareholders’ equity | 854,849 | (854,849) | ||||||
Constitution of reserves | 854,849 | (854,849) | ||||||
Ending balance, value at Dec. 31, 2022 | R$ 10240000 | R$ 32720 | R$ 8988442 | R$ 228305 | R$ 19489467 | R$ 2326577 | R$ 21816044 |
DESCRIPTION OF BUSINESS
DESCRIPTION OF BUSINESS | 12 Months Ended |
Dec. 31, 2022 | |
Description Of Business | |
DESCRIPTION OF BUSINESS | 1. DESCRIPTION OF BUSINESS Companhia Siderúrgica Nacional “CSN”, also referred to as “Company”, is a publicly held company incorporated on April 9, 1941, under the laws of the Federative Republic of Brazil (Companhia Siderúrgica Nacional, its subsidiaries, joint ventures, joint operations and associates are collectively referred to herein as the "Group”). The Company’s registered office is located in São Paulo, SP, Brazil. CSN is listed on the São Paulo Stock Exchange (B3 S.A.- Brasil, Bolsa, Balcão) and on the New York Stock Exchange (NYSE). The Group's main operating activities are divided into five (5) segments as follows: · Steel: The Company’s main industrial facility is the Presidente Vargas Steelworks (“UPV”), located in the city of Volta Redonda, State of Rio de Janeiro. This segment consolidates all operations related to the production, distribution and sale of flat steel, long steel, metallic containers and galvanized steel. In addition to the facilities in Brazil, CSN has commercial operations in the United States and operations in Portugal and Germany in order to gain markets and provide excellent services to final consumers. Its steel is used in home appliances, civil construction, package and automobile industries. · Mining: The production of iron ore is developed in the cities of Congonhas, Belo Vale and Ouro Preto, State of Minas Gerais, by its subsidiary CSN Mineração S.A. (“CSN Mineração”). The Company’s mining activities also include tin exploration in the state of Rondônia by CSN's subsidiary Estanho de Rondônia S.A. (“ERSA”), to supply the needs of the UPV. The surplus of this raw material is sold to subsidiaries and third parties. Iron ore is sold basically in the international market, especially in Europe and Asia. The prices charged in these markets are historically cyclical and subject to significant fluctuations over short periods of time, driven by several factors related to global demand, strategies adopted by the major steel producers, and the foreign exchange rate. All these factors are beyond the Company’s control. The ore is transported by rail to the Terminal de Carvão e Minérios from the Itaguaí Port (“TECAR”), a solid bulk terminal, one of the four terminals that comprise the Itaguai Port, located in the State of Rio de Janeiro and from TECAR to customers around the world. The imports of coal and coke are also carried out through this terminal by provision of services by CSN Mineração to CSN. All our mining dams are adequately suited to existing environmental legislation. · Cement: CSN entered the cement production market boosted by the synergy between this activity and CSN’s current business. Beside the UPV facilities, in Volta Redonda/RJ, the Company installed a business unit, which produces CP-III type cement using the slag produced by the UPV’s own blast furnaces. It also explores limestone and dolomite at the Arcos/MG unit, to meet the needs of the steel and cement plants. Additionally, in Arcos/MG, the clinker production operation is located. On January 31, 2021, the Company concluded the drop down of the cement business and, accordingly, all assets, liabilities, rights and obligations related to the cement business were transferred from CSN to its subsidiary CSN Cimentos S.A. (“CSN Cimentos”). On August 31, 2021, the Company completed the acquisition of control of Elizabeth Cimentos S.A. ("Elizabeth Cimentos") and Elizabeth Mineração Ltda. ("Elizabeth Mineração"), with operations in the Northeast region, especially in Paraíba and Pernambuco. On May 1, 2022, Elizabeth Mineração was merged into CSN Cimentos S.A. On September 9, 2021, CSN Cimentos entered into the Agreement for the Sale and Purchase of the Shares in LafargeHolcim · Logistics: Railroads: CSN has interests in three railroad companies: MRS Logística S.A. (“MRS”), which manages the former Southeast Railway System of Rede Ferroviária Federal S.A. (“RFFSA”), Transnordestina Logística S.A. (“TLSA”) and FTL - Ferrovia Transnordestina Logística S.A. (“FTL”), which holds the concession to operate the former Northeast Railway System of RFFSA, in the States of Maranhão, Piauí, Ceará, Rio Grande do Norte, Paraíba, Pernambuco, Alagoas - stretches from São Luís to Altos, Altos to Fortaleza, Fortaleza to Sousa, Sousa to Recife/Jorge Lins, Recife/Jorge Lins to Salgueiro, Jorge Lins to Propriá, Paula Cavalcante to Cabedelo, Itabaiana to Macau (Mesh I) and TLSA is responsible for the stretches from Eliseu Martins-Trindade, Trindade-Salgueiro, Salgueiro-Missão Velha and Missão Velha-Pecém (Mesh II), under construction. Ports: The Company operates in the State of Rio de Janeiro, by means of its subsidiary Sepetiba Tecon S.A., the Container Terminal (“TECON”) and by means of its subsidiary CSN Mineração, the TECAR, both located at the Itaguaí Port. Established in the harbor of Sepetiba, the mentioned port has a privileged highway, railroad, and maritime access. TECON is responsible for the movement and storage of containers, vehicles, steel products, general cargo, among other products, and TECAR performs the operational activities of loading and unloading of solid bulk ships, storage and distribution (road and rail) of coal, coke, petroleum coke, clinker, zinc concentrate, sulfur, iron ore and other bulk, intended for the seaborne market, for our own operation and for different customers. · Energy: Since the energy supply is fundamental in CSN”s production process, the Company has electricity generation assets to mitigate costs, aiming at greater competitiveness. On June 30, 2022, the Company's subsidiaries, CSN Cimentos and CSN Energia S.A. ("CSN Energia"), completed the acquisition of Santa Ana Energética S.A. (“Santa Ana”), as well as Topázio Energética S.A. ("Topázio") and, indirectly, Brasil Central Energia Ltda. ("BCE"), a subsidiary of Topázio, under the terms of the Share Purchase Agreement 100 Agreement for the Purchase and Sale of Shares and Other Covenants Private Instrument of Assignment of Rights and Obligations In July 2022, the subsidiary Companhia Florestal do Brasil it began the process of participating in the auction held by the State of Rio Grande do Sul, for the sale of 100 6,381,908 66.23 99 · Going Concern: Management understands that the Company has adequate resources to continue its operations. Accordingly, the Company's financial statements for the year ended December 31, 2022 have been prepared on a going concern basis. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2022 | |
Summary Of Significant Accounting Policies | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 2.a) Declaration of conformity The consolidated financial statements have been prepared and are being presented in accordance with International Financial Reporting Standards (“IFRS”) issued by the International Accounting Standard Board (IASB) and highlight all the relevant information at the financial statements, and only this information, which correspond to those used by the Company's management in its activities 2.b) Basis of presentation The financial statements were prepared based on the historical cost and were adjusted to reflect: (i) the fair value measurement of certain financial assets and liabilities (including derivative instruments), as well as pension plan assets; and (ii) impairment losses. When IFRS allows an option between cost or another measurement criterion, the cost of acquisition criterion was used. The preparation of these financial statements requires Management to use certain accounting estimates, judgments and assumptions that affect the application of Accounting Polices and the amounts reported on the balance sheet date of assets, liabilities, income, and expenses may differ from actual future results. The assumptions used are based on history and other factors considered relevant and are reviewed by the Company’s management. The accounting policies and critical estimates, when applicable and relevant, are included in the respective explanatory notes and are consistent with the previous year presented, as shown below: · Note 3 - Definition of assumptions in business combinations; · Note 6 - Allowance for expected losses (impairment) of trade receivables; · Note 10.e - Recoverability test of investment in Transnordestina Logística S.A. (“TLSA”); · Note 12 - Goodwill impairment test; · Note 14.e - Derivative financial instruments and hedge accounting; · Note 18.e - Recoverability test of deferred income tax and social contribution; · Note 20 - Provisions for tax, social security, labor and civil risks; · Note 21 - Provisions for environmental liabilities and asset retirement obligations; · Note 30 - Employee benefits. The consolidated financial statements were approved by Board of Directors on April 27, 2023. 2.c) Functional currency and presentation currency The accounting records included in the financial statements of each of the Company’s subsidiaries are measured using the currency of the principal of the economic environment in which each subsidiary operates (“the functional currency”). The consolidated financial statements are presented in R$ (reais), which is the Company’s functional currency and the Group’s presentation currency. Foreign currency transactions are translated into the functional currency using the exchange rates prevailing on the transaction or valuation dates, in which the items are remeasured. The balances of the asset and liability accounts are converted using the exchange rate prevailing at the balance sheet date. As of December 31, 2022, US$ 1 5.2177 5.5805 1 5.5694 6.3210 2.d) Accounting policies The significant accounting policies applied in the preparation of these financial statements have been included in the respective notes and are consistent for all years presented. 2.e) Adoption of new and revised International Financial Reporting Standards (IFRS) The Company has not adopted new accounting policies in the current year. Additionally, some accounting standards and interpretations were recently issued, but are not yet effective for the year. The Company has not early adopted any of these standards and does not expect that they will have a material impact on the financial statements of subsequent fiscal years. |
BUSINESS COMBINATION
BUSINESS COMBINATION | 12 Months Ended |
Dec. 31, 2022 | |
Business Combination | |
BUSINESS COMBINATION | 3. BUSINESS COMBINATION In 2022, the CSN Group’s subsidiaries fully and/or partially acquired the companies Metalgráfica Iguaçu S.A. (“Metalgráfica”), Santa Ana, Topázio, Companhia Estadual de Geração de Energia Elétrica (“CEEE-G”), CSN Cimentos Brasil S.A. (“Cimentos Brasil”) and Companhia Energética Chapecó (“Chapecó”). The effect of each acquisition on the business combination is shown below. The acquisitions of the energy segment are intended to support and strengthen its business expansion strategy, through investments in renewable energy and self-production for greater competitiveness and the acquisitions of the cement and steel segment to improve the competitiveness of the business and strengthen the national chain, especially in relation to substitute packaging. 3.a) Acquisition of control of Metalgráfica Iguaçu S.A. On September 6, 2022, Companhia Metalúrgica Prada (“Prada”), a subsidiary of the Company, acquired 100% of Metalgráfica Iguaçu S.A. The assets acquired are in Paraná and Goiás. The operation is a strategic step to expand the production capacity of the Company's packaging division. The transaction consists of a business combination whereby Prada acquired control through the merger of Metalgráfica shares and, in exchange for the merger of shares, Metalgráfica shareholders received shares issued by Prada in substitution for Metalgráfica shares, according to the exchange ratio approved at an extraordinary general meeting of the companies. (i) Determination of the purchase price The table below summarizes the price considered for accounting purposes: Schedule of determination of purchase price Item Comment BRL thousand Reference Equity interests issued The Prada issued new shares that were delivered to Metalgrafica's shareholders 263 (a) Equity interests issued The Metalgrafica issued new shares which were acquired by Prada 133,100 (b) Purchase price considered for the business combination 133,363 a) Prada approved a capital increase in the amount of R$ 263 571,251 The measurement of the fair value of Metalgráfica shares, transferred to Prada in the business combination, was performed using the discounted cash flow method, with the issue of an Economic Value Report prepared by independent appraisers and its results are presented in the table below: Schedule of fair value measurement Equity value - Metalgráfica date base - 03/31/2022 Discounted Cash Flow 59,353 Discounted residual value 33,973 Enterprise value 93,326 Indebtdness net (109,133) Non-operating assets/liabilities 16,070 Equity value 263 b) Metalgráfica's Board of Directors approved on September 6, 2022 the capital increase in the amount of R$ 133,100 122,110,092 (ii) Goodwill on acquisition of control The transaction generated goodwill for expected future profitability, as shown in the table below: Schedule of goodwill on acquisition Item BRL thousand Reference Purchase price considered 133,363 (i) Fair value of the assets and liabilities acquired 121,948 (iii) Goodwill based on expectations for future profitability (note 12) 11,415 (iii) Fair value of assets and liabilities acquired The following table shows the allocation of the fair value of assets acquired and liabilities assumed at August 31, 2022, considering the direct and indirect interests, calculated based on independent appraisers’ reports. Schedule of fair value of assets acquired and liabilities assumed (R$'000) Accounting Balances Proforma Adjustment Fair value adjustment Total fair value Current Assets 23,924 133,100 157,024 Cash and cash equivalents 569 569 Trade receivables 7,249 7,249 Inventories 4,435 4,435 Other assets 713 133,100 133,813 Recoverable taxes and contributions 10,958 10,958 Non-current Assets 58,408 72,184 130,592 Recoverable taxes and contributions 38,649 38,649 Other assets 1,856 1,856 Investments 10 10 Property, plant and equipment 17,750 72,184 89,934 Intangibles 143 143 Total assets acquired 82,332 133,100 72,184 287,616 Current Liabilities 134,464 134,464 Borrowings and financing 89,852 89,852 Trade payables 17,114 17,114 Labor obligations 17,339 17,339 Taxes payable 181 181 Advances from customers 1,158 1,158 Installments 2,227 2,227 Other accounts 6,593 6,593 Non-current Liabilities 31,204 31,204 Borrowings and financing 21,844 21,844 Installments 6,462 6,462 Other accounts 2,898 2,898 Total liabilities assumed 165,668 165,668 Net equity acquired (83,336) 133,100 72,184 121,948 Pro forma adjustment: refers to the capital increase approved at the Board of Directors' Meeting held on September 6, 2022, in the amount of R$ 133,100 The fair value allocation resulted in an adjustment totaling R$ 72,184 Schedule of fair value allocated amounts composition Assets acquired Valuation method Carrying amounts Fair value adjustment Total fair value Property, plant and equipment The values of fixed assets were adjusted by the difference between the revalued value of f ixed assets and their respective net book value, according to a technical evaluation carried out by an independent appraiser for the groups of assets represented by buildings, vehicles, furniture and fixtures. The useful lives follow the terms disclosed in note 11. 17,750 72,184 89,934 17,750 72,184 89,934 Prada has engaged an independent company to prepare an appraisal report on the tangible and intangible assets and allocation of the excess price paid. 3.b) Acquisition of Santa Ana Energética S.A. and Topázio Energética S.A. On April 8, 2022, the Company and CSN Energia signed an agreement for the acquisition of 100% of the shares issued by Santa Ana and Topázio with Brookfield Americas Infrastructure (Brazil Power) Fundo de Investimento Participações Multiestratégia. The transaction was completed on June 30, 2022. Santa Ana holds the concession to operate the small hydroelectric plant of Santa Ana, located in the state of Santa Catarina, with a contract in effect until December 2046 and installed capacity of approximately 3.75 MW/h. Topázio, through its subsidiary Brasil Central Energia Ltda., holds the concession to operate the small hydroelectric plant of Sacre II, located in the state of Mato Grosso do Sul, with a contract in effect until June 2039 and installed capacity of approximately 30.00 MW/h. (i) Determination of the purchase price The table below summarizes the price considered for accounting purposes: Schedule of determination of purchase price Item Comment Santa Ana Energética Topázio Enérgetica Reference Assets transferred In the transaction, a payment in the amount of R$466,153 was made. 37,292 428,861 (i) Purchase price considered for the business combination 37,292 428,861 (i) On June 30, 2022, the transaction was concluded with the payment by CSN Cimentos and CSN Energia in the amount of R$ 466,153 (ii) Goodwill on acquisition of control The transaction did not generate goodwill for expected future profitability, since the fair value of the assets has been fully allocated. (iii) Fair value of assets and liabilities acquired In the fair value identification of assets acquired and liabilities assumed, the Company applied the guidelines in IFRS 13 - Fair value measurement. The following table shows the allocation of the fair value on June 30, 2022, calculated based on independent appraisers’ reports. Schedule of fair value of assets acquired and liabilities assumed Santa Ana Energética Topázio Enérgetica (R$'000) Carrying amounts Fair value adjustments Total fair value Carrying amounts Fair value adjustments Total fair value Cash and cash equivalents 1,602 1,602 3,493 3,493 Trade receivables 13 13 199 199 Inventories 422 422 647 647 Recoverable taxes 2 2 87 87 Other assets 21 21 Property, plant and equipment (1) 28,163 10,482 38,645 173,494 (79,317) 94,177 Intangíible assets (1) (3,200) (3,200) 331,637 331,637 Total assets acquired 30,202 7,282 37,484 177,941 252,320 430,261 Accounts payable 2 2 179 179 Taxes payable 72 72 821 821 Salaries and social charges 167 167 Other payables 92 92 Leases 26 26 233 233 Total liabilities assumed 192 192 1,400 1,400 Net equity acquired 30,010 7,282 37,292 176,541 252,320 428,861 1 - Refer to a PP&E impairment recognized in Topázio and a recognition of an onerous contract related to prior concession agreement of Santa Ana. The subsidiary CSN Cimentos S.A. has engaged an independent company to prepare an appraisal report on the tangible and intangible (basically energy sales agreements) assets and allocation of the excess price paid. The fair value allocation resulted in an adjustment totaling R$ 259,602 Schedule Of Fair Value Allocation Composition Assets acquired Valuation method Carrying amounts Fair value adjustment Total fair value Property, plant and equipment The values of fixed assets were adjusted by the difference between the revalued value of fixed assets and their respective net book value, according to a technical evaluation carried out by an independent appraiser for the groups of assets represented by improvements constructions, vehicles, furniture and fixtures. The useful lives follow the terms disclosed in note 12. 201,424 (68,835) 132,589 Intangible assets Evaluated by the MPEEM method that measures the present value of future income to be generated during the remaining useful life of a given asset. Using the analysis of the company's projected results as a reference, the pre-tax cash flows directly attributable to the asset are calculated, as of the base date stipulated in the evaluation. 328,437 328,437 201,424 259,602 461,026 3.c) Acquisition of Companhia Estadual de Geração de Energia Elétrica – CEEE-G In July 2022, it began the process of participating in the auction held by the State of Rio Grande do Sul, for the sale of 100 6,381,908 66.23 CEEE-G is the holder of the concession for the exploration of five hydroelectric power plants (HPPs), eight small hydroelectric power plants (SHPs) and two hydroelectric power plants (HPPs) located in the State of Rio Grande do Sul. As part of the Auction, Companhia Estadual de Geração de Energia Elétrica – CEEE-G signed a new Concession Agreement with a 30-year term. In accordance with the guidelines of the aforementioned Auction, the Company's control was transferred as of the settlement of the transaction. (i) Determination of the purchase price The table below summarizes the price considered for accounting purposes: Schedule of determination of purchase price Item Comment BRL thousand Reference Assets transferred Payment made at the conclusion of the transaction 928,000 (i) Purchase price considered for the business combination 928,000 (i) On October 21, 2022, the transaction was concluded with the payment by the Company of R$ 928,000 (ii) Goodwill on acquisition of control The transaction did not generate goodwill for expected future profitability, since the fair value of the assets has been fully allocated. (iii) Fair value of assets and liabilities acquired In the fair value identification of assets acquired and liabilities assumed, the Company applied the guidelines in IFRS 13 - Fair value measurement. The following table shows the allocation of the fair value at October 1, 2022, calculated based on independent appraisers’ reports. Schedule of fair value of assets and liabilities assumed (R$'000) Carrying amounts Fair value adjustments Total fair value Cash and cash equivalents 661,864 661,864 Trade receivables 51,333 51,333 Inventories 2,636 2,636 Recoverable taxes 5,043 5,043 Other assets 125,516 125,516 Judicial deposits and guarantees 59,335 59,335 Investments 312,800 359,024 671,824 Property, plant and equipment 31,853 31,853 Intangíible assets 2,041,196 17,270 2,058,466 Total assets acquired 3,291,576 376,294 3,667,870 Trade payables 22,928 22,928 Taxes payable 19,951 19,951 Salaries and social charges 16,343 16,343 Deferred taxes (65,560) (65,560) Judicial contingencies 306,400 306,400 Other payables 134,380 134,380 Bonus grant payable 2,024,118 2,024,118 Total liabilities assumed 2,458,560 2,458,560 Net equity acquired 833,016 376,294 1,209,310 Equity acquired (66.23%) 551,706 376,294 928,000 The subsidiary Companhia Florestal do Brasil S.A. has engaged an independent company to prepare an appraisal report on the tangible and intangible assets (basically concession agreement) and allocation of the excess price paid. The fair value allocation resulted in an adjustment totaling R$ 376,294 Assets acquired Valuation method Carrying amounts Fair value adjustment Total fair value Investments Initially evaluated by the FDC - Discounted Cash Flow method for each investment, however, certain stakes are tied to purchase options with third parties at prices predetermined in the auction notice. Therefore, the fair value of these investments was measured considering the lower of the value identified in the FDC and the value of the purchase option 312,800 359,024 671,824 Intangible assets Evaluated by the MPEEM method that measures the present value of future income to be generated during the remaining useful life of a given asset. Using the analysis of the company's projected results as a reference, the pre-tax cash flows directly attributable to the asset are calculated, as of the base date stipulated in the evaluation. 2,041,196 17,270 2,058,466 2,353,996 376,294 2,730,290 3.d) Acquisition of control of CSN Cimentos Brasil S.A. In September 2021, the Company started negotiations for the acquisition of 100 960,733 5,013,436 With the completion of the transaction, the Company assumed control of operations that have Cement, Concrete and Aggregate operations, with a production capacity of 6.8 11.0 12 With the acquisition of Cimentos Brasil, the Company aims to expand its Cement production capacity, with the objective of reaching a total capacity of 16.3 (i) Determination of the purchase price The table below summarizes the price considered for accounting purposes: Schedule of determination of purchase Item Comment CSN Cimentos Brasil Reference Assets transferred In the transaction, a payment in the amount of US$960,733 was made 5,013,436 (i) Purchase price considered for the business combination 5,013,436 (i) On the date of its completion, the transaction included (i) the transfer to the sellers of the amount of US$ 50,000 261,140 910,733 4,752,296 960,733 5,013,436 (ii) Goodwill on acquisition of control The transaction generated goodwill for expected future profitability of R$646,594, as shown in the table below: Schedule of goodwill on acquisition Item CSN Cimentos Brasil S.A. Reference Purchase price considered 5,013,436 item (i) Fair value of the assets and liabilities acquired 4,622,604 item (iii) Goodwill based on expectations for future profitability (note 12) 390,832 (iii) Fair value of assets and liabilities acquired The following table shows the allocation of the fair value of assets acquired and liabilities assumed at August 31, 2022, calculated based on independent appraisers’ reports. Schedule of Fair value of assets acquired and liabilities assumed CSN Cimentos Brasil Carrying amounts Fair value adjustments Total fair value Cash and cash equivalents 496,445 496,445 Trade receivables 141,266 141,266 Inventories 272,106 272,106 Recoverable taxes 229,940 229,940 Deferred taxes 982,547 982,547 Other assets 147,565 147,565 Property, plant and equipment 3,185,975 402,289 3,588,264 Intangíible assets 7,429 173,586 181,015 Total assets acquired 5,463,273 575,875 6,039,148 Trade payables 510,522 510,522 Lease liabilities 43,978 43,978 Taxes payable 50,527 50,527 Salaries and social charges 32,324 32,324 Other payables 139,830 139,830 Taxes in installments 148,249 148,249 Legal Contingencies 491,114 491,114 Total liabilities assumed 1,416,544 1,416,544 Net equity acquired 4,046,729 575,875 4,622,604 CSN Cimentos S.A. has engaged an independent company to prepare an appraisal report on the tangible and intangible assets and allocation of the excess price paid. The fair value allocation resulted in a gain totaling R$ 575,875 Assets acquired Valuation method Carrying amounts Fair value adjustment Total fair value Property, plant and equipment Valued using the "MARKET APPROACH" method, where the fair value of the asset is estimated by comparing it with similar or comparable assets that have been sold or listed for sale in the primary or secondary market. 3,185,975 402,289 3,588,264 Mining rights Evaluated by the MPEEM method that measures the present value of future income to be generated during the remaining useful life of a given asset. Using the analysis of the company's projected results as a reference, the pre-tax cash flows directly attributable to the asset are calculated, as of the base date stipulated in the evaluation. 2,456 135,216 137,672 Trademarks The brands were evaluated using the Royalty Relief method, which consists in projecting expected royalty payments and measuring them at present value. 38,370 38,370 Softwares The Company's software has not been evaluated. 4,973 4,973 3,193,404 575,875 3,769,279 3.e) Acquisition of control of Companhia Energética Chapecó On October 7, 2022, CSN Mineração S.A. and CSN Energia completed the acquisition of 100 Companhia Energética Chapecó holds the concession for the Quebra-Queixo hydroelectric power plant, which has an installed capacity of 120 MW, located on the Chapecó River between the municipalities of Ipuaçú and São Domingos in the state of Santa Catarina, the concession contract was signed in December 2000 effective for 35 years and extended until December 2040, after discussions for renegotiation of the GSF, which took place in October 2021. (i) Determination of the purchase price The table below summarizes the price considered for accounting purposes: Schedule of determination of purchase Item Comment BRL thousand Reference Assets transferred Payment made upon acquisition 358,634 (i) Purchase price considered for the business combination 358,634 (i) On October 7, 2022, the transaction was completed with the payment of R$358,634 by CSN Mineração and CSN Energia. (ii) Goodwill on acquisition of control The transaction did not generate goodwill for expected future profitability, since the fair value of the assets has been fully allocated. (iii) Fair value of assets and liabilities acquired The following table shows the allocation of the fair value of assets acquired and liabilities assumed, the Company applied the guidelines in IFRS 13 - Fair value measurement. The following table shows the allocation of the fair value of the assets acquired and liabilities assumed on October 7, 2022, calculated based on independent appraisers’ reports. Schedule of Fair value of assets acquired and liabilities assumed (R$'000) Carrying amounts Fair value adjustment Total fair value Assets Cash and cash equivalents 41,693 41,693 Trade receivables 5,745 5,745 Other assets 246 246 Recoverable taxes and contributions 5,420 5,420 Deferred taxes 9,521 9,521 Judicial deposits 151 151 Property, plant and equipment 106,695 195,026 301,721 Intangíible assets 104,499 83,610 188,109 Total assets acquired 273,970 278,636 552,606 Liabilities Trade payables 157 157 Labor obligations 364 364 Taxes payable 1,945 1,945 Concession payable 12,281 12,281 Other accounts 1,567 1,567 Advances from customer 100,012 100,012 Concession payable 77,646 77,646 Total liabilities assumed 193,972 193,972 Total equity acquired 79,998 278,636 358,634 CSN Mineração has engaged an independent company to prepare an appraisal report on the tangible and intangible assets (basically concession and energy sales agreements) and allocation of the excess price paid. The fair value allocation resulted in a gai totaling R$ 278,636 Assets acquired Valuation method Carrying amounts Fair value adjustment Total fair value Property, plant and equipment The values of fixed assets were adjusted by the difference between the revalued value of fixed assets and their respective net book value, according to a technical evaluation carried out by an independent appraiser for the groups of assets represented by buildings, vehicles, furniture and fixtures. The useful lives follow the terms disclosed in note 11 106,695 195,026 301,721 Intangible assets Evaluated by the MPEEM method that measures the present value of future income to be generated during the remaining useful life of a given asset. Using the analysis of the company's projected results as a reference, the pre-tax cash flows directly attributable to the asset are calculated, as from the base date stipulated in the evaluation and Incremental Cash Flow, where the economic gain generated by the spread between the contract value and the spot value of energy was the basis of a free cash flow. 104,499 83,610 188,109 211,194 278,636 489,830 3.f) Acquisition of control of the companies Elizabeth Cimentos and Elizabeth Mineração On August 31, 2021, CSN Cimentos acquired 99.97 99.99 88.746 11.254 a) Determination of the purchase price The table below summarizes the price considered for accounting purposes: Schedule of determination of purchase Item Comment Elizabeth Cimentos Elizabeth Mineração Reference Assets transferred A payment in the amount of R$201 milion is being carried out in the transaction. 77,768 123,947 (i) Assets transferred Refers to financial adjustment of working capital and debt (3,914) (5,116) (i) Equity interests issued Shares issued by Elizabeth Cimentos and acquired by CSN Cimentos. 526,037 (ii) Purchase price considered for the business combination 599,891 118,831 (i) The transaction included payments by CSN Cimentos of R$77,768 and R$123,947 on August 31, 2021, and an adjustment in the amount of R$3,914 and R$5,116, received in December 2021 related to working capital adjustment provided for in the sale agreement. (ii) In August 2021, Elizabeth Cimentos performed a primary issuance of 2,382,758,512 new common shares, nominative and with no par value, which were subscribed and paid in by CSN Cimentos. b) Goodwill on acquisition of control of Elizabeth Cimentos and Elizabeth Mineração The transaction generated goodwill for expected future profitability of R$ 83,266 Schedule of goodwill on acquisition Item Reference Elizabeth Cimentos Elizabeth Mineração Purchase price considered item (i) and (ii) 599,891 118,831 Fair value of the assets and liabilities acquired 516,625 118,831 Goodwill for future profitability expected 83,266 - On the acquisition of Elizabeth Mineração, the price paid was fully allocated to the assets acquired, not generating goodwill for expected future profitability. (i) Fair value of assets and liabilities acquired The following table shows the allocation of the fair value of assets acquired and liabilities assumed at August 31, 2021, considering the direct and indirect interests, calculated based on independent appraisers’ reports. Schedule of Fair value of assets acquired and liabilities assumed Elizabeth Cimentos Elizabeth Mineração Carrying amounts Fair value adjustments Total fair value Carrying amounts Fair value adjustments Total fair value Cash and cash equivalents 52,571 52,571 2,197 2,197 Trade receivables 27,571 27,571 1,027 1,027 Receivables from related parties 96,374 96,374 9,035 9,035 Inventories 44,157 44,157 1,017 1,017 Recoverable taxes 18,616 18,616 931 931 Short-term investments 14,689 14,689 Other assets 17,733 17,733 673 673 Investment 40,653 24,845 65,498 Property, plant and equipment 373,574 161,367 534,941 15,092 77,089 92,181 Intangíible assets 798 59,456 60,254 500 269,385 269,885 Total assets acquired 646,083 220,823 866,906 71,125 371,319 442,444 Borrowings and financing 198,778 198,778 182,402 182,402 Trade payables 22,735 22,735 446 446 Taxes payable 19,202 19,202 37,158 37,158 Debits with related parties 96,350 96,350 Other payables 44,052 44,052 7,257 7,257 Total liabilities assumed 284,767 284,767 323,613 323,613 Net equity acquired 361,316 220,823 582,139 (252,488) 371,319 118,831 Indirect investiment (40,663) (24,851) (65,514) Net equity acquired 320,653 195,972 516,625 (252,488) 371,319 118,831 The fair value allocation resulted in an adjustment totaling R$ 567,297 Assets acquired Valuation method Carrying amounts Fair value adjustment Total fair value Property, plant and equipment Valued using the "MARKET APPROACH" method, where the fair value of the asset is estimated by comparing it with similar or comparable assets that have been sold or listed for sale in the primary or secondary market. 388,666 238,456 627,122 Mining rights Evaluated by the MPEEM method that measures the present value of future income to be generated during the remaining useful life of a given asset. Using the analysis of the company's projected results as a reference, the pre-tax cash flows directly attributable to the asset are calculated, as of the base date stipulated in the evaluation. 500 269,385 269,885 Licenses Valued using the WITH / WITHOUT method, which estimates the intangible value by the difference between discounted cash flow models with and without the asset. 798 59,456 60,254 389,964 567,297 957,261 CSN Cimentos has engaged an independent company to prepare an appraisal report on the tangible and intangible assets and allocation of the excess price paid. After the conclusion of the appraisal report, the Company reclassified the amount of R$ 27,667 Accounting Policy Business combination The acquisition method is used to account for each business combination conducted by the Company. The consideration transferred for acquiring a subsidiary is the fair value of the assets transferred, liabilities incurred, and equity instruments issued by the Company. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration arrangement, where applicable. Acquisition-related costs are recognized in profit or loss for the year, as incurred. Identifiable assets acquired and liabilities assumed in a business combination are initially measured at their fair values at the acquisition date. In accordance with IFRS 3, the purchase price is determined by the sum of the assets transferred, liabilities incurred, equity interests issued, non-controlling interest and the fair value of any interest held prior to the transaction. In accordance with IFRS 3, the acquirer must recognize goodwill for expected future profitability on the acquisition date, measured by the amount by which the purchase price exceeds the fair value of the assets and liabilities acquired (purchase price allocation). The goodwill for expected future profitability is recorded in intangible assets and, since it does not have a defined useful life, it is not amortized and the Company is required to perform impairment testing, in accordance to the requirements in IAS 36. The Company has up to 12 months to adjust the measurement of the amounts due to events not considered. |
ScheduleOfFairValueAllocatedAmo
ScheduleOfFairValueAllocatedAmountsCompositionTableTextBlock - Metalgrafica Lguacu S. A [Member] R$ in Thousands | 12 Months Ended |
Dec. 31, 2022 BRL (R$) | |
Business Property Plant And Equipment [Member] | |
IfrsStatementLineItems [Line Items] | |
Description of basis of valuation of assets available for benefits | The values of fixed assets were adjusted by the difference between the revalued value of f ixed assets and their respective net book value, according to a technical evaluation carried out by an independent appraiser for the groups of assets represented by buildings, vehicles, furniture and fixtures. The useful lives follow the terms disclosed in note 11. |
Carrying amount [member] | |
IfrsStatementLineItems [Line Items] | |
Property, plant and equipment | R$ 17750 |
Total | 17,750 |
Fair Value Adjustments [Member] | |
IfrsStatementLineItems [Line Items] | |
Property, plant and equipment | 72,184 |
Total | 72,184 |
Total Fair Value [Member] | |
IfrsStatementLineItems [Line Items] | |
Property, plant and equipment | 89,934 |
Total | R$ 89934 |
Schedule Of Fair Value Allocati
Schedule Of Fair Value Allocation Composition R$ in Thousands | 12 Months Ended |
Dec. 31, 2022 BRL (R$) | |
Business Property Plant And Equipment 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Description of basis of valuation of assets available for benefits | The values of fixed assets were adjusted by the difference between the revalued value of fixed assets and their respective net book value, according to a technical evaluation carried out by an independent appraiser for the groups of assets represented by improvements constructions, vehicles, furniture and fixtures. The useful lives follow the terms disclosed in note 12. |
Carrying Amount 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Property, plant and equipment | R$ 201424 |
Fair Value Adjustments 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Property, plant and equipment | (68,835) |
Total Fair Value 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Property, plant and equipment | R$ 132589 |
Intangible Assets 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Description of basis of valuation of assets available for benefits | Evaluated by the MPEEM method that measures the present value of future income to be generated during the remaining useful life of a given asset. Using the analysis of the company's projected results as a reference, the pre-tax cash flows directly attributable to the asset are calculated, as of the base date stipulated in the evaluation. |
Fair Value Adjustments 2 [Member] | |
IfrsStatementLineItems [Line Items] | |
Intangible assets | R$ 328437 |
Total Fair Value 2 [Member] | |
IfrsStatementLineItems [Line Items] | |
Intangible assets | 328,437 |
Carrying Amount One [Member] | |
IfrsStatementLineItems [Line Items] | |
Total | 201,424 |
Fair Value Adjustments One [Member] | |
IfrsStatementLineItems [Line Items] | |
Total | 259,602 |
Total Fair Value One [Member] | |
IfrsStatementLineItems [Line Items] | |
Total | R$ 461026 |
CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS | 12 Months Ended |
Dec. 31, 2022 | |
Cash and cash equivalents [abstract] | |
CASH AND CASH EQUIVALENTS | 4. CASH AND CASH EQUIVALENTS Schedule of cash and cash equivalents Consolidated 12/31/2022 12/31/2021 Cash and banks In Brazil 85,120 68,638 Abroad 6,310,338 10,007,399 6,395,458 10,076,037 Investments In Brazil 5,110,749 6,493,832 Abroad 485,149 76,611 5,595,898 6,570,443 11,991,356 16,646,480 Our investments are basically in private and public securities with yields linked to the variation of Interbank Deposit Certificates (CDI) and repo operations backed by National Treasury Notes, respectively. The Company invests part of the funds through exclusive investment funds which have been consolidated in these financial statements. Our investments are in private securities in top-rated banks and are remunerated at pre-fixed rates. Accounting Policy Cash and cash equivalents include cash on hand and in banks and other highly liquid short-term investments redeemable within 90 days from the end of the reporting period, readily convertible into a known amount of cash and subject to an insignificant risk of change in value. |
FINANCIAL INVESTMENTS
FINANCIAL INVESTMENTS | 12 Months Ended |
Dec. 31, 2022 | |
Financial Investments | |
FINANCIAL INVESTMENTS | 5. FINANCIAL INVESTMENTS Schedule of financial investment Consolidated Current Non-current 12/31/2022 12/31/2021 12/31/2022 12/31/2021 Investments (1) 271,590 261,673 15,675 15,148 Usiminas shares (2) 1,184,895 2,383,059 Bonds (3) 140,510 132,523 1,456,485 2,644,732 156,185 147,671 (1) Comprised of restricted financial investments and linked to a Bank Deposit Certificate (CDB) to guarantee a letter of guarantee from financial institutions and financial investments in Public Securities (LFT - Letras Financeiras do Tesouro) managed by their exclusive funds. (2) Part of the shares of Usiminas Siderúrgica de Minas Gerais S.A. held by the Company guarantees a portion of the Company’s debt. (3) Bonds with Fibra bank due in February 2028 (see note 22.b). Accounting Policy Short-term investments that are not classified as cash equivalents and are measured at amortized cost and at fair value through profit or loss. |
TRADE RECEIVABLES
TRADE RECEIVABLES | 12 Months Ended |
Dec. 31, 2022 | |
Trade Receivables | |
TRADE RECEIVABLES | 6. TRADE RECEIVABLES Schedule of trade receivables Consolidated 12/31/2022 12/31/2021 Trade receivables Third parties Domestic market 1,636,804 1,218,179 Foreign market 1,720,056 1,472,190 3,356,860 2,690,369 Estimated losses on doubtful debts (232,830) (236,927) 3,124,030 2,453,442 Related parties (note 22 b) 109,134 144,396 3,233,164 2,597,838 The composition of the gross balance of accounts receivable from third party consumers is shown as follows: Schedule of gross trade receivables from third parties Consolidated 12/31/2022 12/31/2021 Current 2,934,057 2,255,200 Past-due up to 30 days 163,959 164,019 Past-due up to 180 days 54,452 67,822 Past-due over 180 days 204,392 203,328 3,356,860 2,690,369 The changes in expected credit losses are as follows: Schedule of allowance for doubtful debts Consolidated 12/31/2022 12/31/2021 Opening balance (236,927) (228,348) (Loss)/Reversal estimated (87) 1,755 Recovery and write-offs of receivables 13,197 6,287 Consolidation in the acquisition of companies (9,013) (16,621) Closing balance (232,830) (236,927) Accounting Policy Accounts receivable are initially recognized by the transaction price, provided they do not contain financing components, and subsequently measured at amortized cost. When applicable, it is adjusted to present value including the respective taxes and ancillary expenses, and customer credits, in foreign currency, are restated at the exchange rate on the date of the financial statements. The Company measures credit losses annually expected for the instrument, where it considers all possible loss events over the lifetime of its receivables, using a loss rate matrix by maturity range adopted by the Company, from the initial moment (recognition) of the asset. This model considers the customer’s history, default rate, financial situation and the position of its legal advisors to estimate expected credit losses. The Company performs operations relating to assignment of receivables without co-obligation in which, after the assignment of trade notes/bills from the customer and receipt of funds arising from the closing of each operation, CSN settles the accounts receivable and relieves itself entirely of the operation’s credit risk. |
INVENTORIES
INVENTORIES | 12 Months Ended |
Dec. 31, 2022 | |
Inventories Abstract | |
INVENTORIES | 7. INVENTORIES Schedule of inventory Consolidated 12/31/2022 12/31/2021 Finished goods 4,421,166 4,457,842 Work in progress 3,501,145 2,710,149 Raw materials 3,297,213 3,638,952 Storeroom supplies 1,174,244 770,296 Advances to suppliers 37,619 121,519 Provision for losses (96,493) (98,730) 12,334,894 11,600,028 Classified: Current 11,289,229 10,943,835 Non-current (1) 1,045,665 656,193 12,334,894 11,600,028 (1) Long-term iron ore inventories that will be used after the construction of the processing plant, which will produce pellet feed. The changes in expected losses on inventories are as follows: Schedule of changes in expected losses on inventories Consolidated 12/31/2022 12/31/2021 Opening balance (98,730) (109,038) Reversal of inventories with low turnover and obsolescence 3,621 10,308 Consolidation in the acquisition of companies (1,384) Closing balance (96,493) (98,730) Accounting Policy The inventory is recorded at the lower of cost and net realizable value. The cost is determined using the weighted average cost method for the purchase of raw materials. The cost of finished goods and work in progress includes raw materials, labor, other direct costs (based on normal production capacity). The net realizable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion and the estimated costs necessary to realize the sales. Expected losses on slow-moving or obsolete inventories are recognized when deemed necessary. |
RECOVERABLE TAXES
RECOVERABLE TAXES | 12 Months Ended |
Dec. 31, 2022 | |
Recoverable Taxes | |
RECOVERABLE TAXES | 8. RECOVERABLE TAXES Schedule of recoverable taxes Consolidated 12/31/2022 12/31/2021 State Value-Added Tax 1,130,843 1,162,900 Brazilian federal contributions (1) 1,862,828 1,352,100 Other taxes 189,087 105,375 3,182,758 2,620,375 Classified: Current 1,865,626 1,655,349 Non-current 1,317,132 965,026 3,182,758 2,620,375 (1) In a judgment finalized on September 24, 2021, the Federal Supreme Court, with general repercussion, decided for the unconstitutionality of the levy of IRPJ and CSLL on amounts of interest on arrears at the SELIC rate received because of the repetition of undue tax payment. Although the decision is still pending publication, and the Company's specific lawsuit is still pending judgment, based on its best estimate to date CSN reassessed the judgment on this lawsuit, as required by IFRIC 23 and recorded a credit in the amount of R$ 229,000 Accounting Policy The accumulated tax credits arise basically from ICMS, PIS and COFINS credits on purchases of raw materials and fixed assets used in production. The realization of these credits normally occurs through offset with debits of these taxes, generated by sales operations and other taxed expenses. The balance of recoverable taxes maintained as current is expected to be offset in the next 12 months, as well as based on analysis and budget projection approved by Management. The Company does not foresee risks of non-realization of these tax credits, provided that these budget projections materialize. |
OTHER CURRENT AND NON-CURRENT A
OTHER CURRENT AND NON-CURRENT ASSETS | 12 Months Ended |
Dec. 31, 2022 | |
Other Current And Non-current Assets | |
OTHER CURRENT AND NON-CURRENT ASSETS | 9. OTHER CURRENT AND NON-CURRENT ASSETS Other current and non-current assets are as follows: Schedule of other current and non current assets Consolidated Current Non-current 12/31/2022 12/31/2021 12/31/2022 12/31/2021 Judicial deposits (note 20) 533,664 339,805 Prepaid expenses 311,087 225,036 47,109 74,503 Prepaid expenses with sea freight 36,783 Actuarial asset (note 22 b) 35,477 59,111 Trading securities 9,596 12,028 Loans with related parties (note 22 b) 5,383 4,511 1,384,773 1,143,228 Other receivables from related parties (note 22 b) 1,858 1,828 1,484,759 927,077 Eletrobrás bonds and compulsory loan (1) 58,030 859,607 Dividends receivables (note 22 b) 77,377 76,878 Employee debts 59,578 43,542 Receivables by indemnity (2) 974,863 534,896 Other 274,838 120,297 231,043 427,528 776,500 484,120 4,749,718 4,365,755 (1) In December 2021, the Company had recorded certain and due amount with Centrais Elétricas Brasileiras S.A. - Eletrobras, relating mainly to interest and monetary adjustment of the Compulsory Loan. In December 2022, the Company received R$ 370,000 367,000 32.74 (2) This is a certain and due amount, resulting from the final and unappealable decision of the Court in favor of the Company in 2020, due to losses and damages resulting from the sinking of the voltage in the supply of energy in the periods from January/1991 to June/2002. Additionally, in the 3 rd 422,254 |
BASIS OF CONSOLIDATION AND INVE
BASIS OF CONSOLIDATION AND INVESTMENTS | 12 Months Ended |
Dec. 31, 2022 | |
Basis Of Consolidation And Investments | |
BASIS OF CONSOLIDATION AND INVESTMENTS | 10. BASIS OF CONSOLIDATION AND INVESTMENTS The accounting policies have been consistently applied to all consolidated companies. The consolidated financial statements for the years ended December 31, 2022 and 2021 include the following direct and indirect subsidiaries and joint ventures, associates, joint ventures, as well as the exclusive funds, as follows: Schedule of consolidated entities information Equity interests (%) Companies 12/31/2022 12/31/2021 Core business Direct interest in subsidiaries: full consolidation CSN Islands VII Corp. 100.00 100.00 Financial transactions CSN Inova Ventures 100.00 100.00 Equity interests and Financial transactions CSN Islands XII Corp. 100.00 100.00 Financial transactions CSN Steel S.L.U. 100.00 100.00 Equity interests and Financial transactions TdBB S.A (*) 100.00 100.00 Equity interests Sepetiba Tecon S.A. 99.99 99.99 Port services Minérios Nacional S.A. 99.99 99.99 Mining and Equity interests Companhia Florestal do Brasil 99.99 99.99 Reforestation Estanho de Rondônia S.A. 99.99 99.99 Tin Mining Companhia Metalúrgica Prada 99.90 99.99 Manufacture of containers and distribution of steel products CSN Mineração S.A. 79.75 78.24 Mining CSN Energia S.A. 99.99 99.99 Sale of electric power FTL - Ferrovia Transnordestina Logística S.A. 92.71 92.71 Railroad logistics Nordeste Logística S.A. 99.99 99.99 Port services CSN Inova Ltd. 100.00 100.00 Advisory and implementation of new development projec CBSI - Companhia Brasileira de Serviços de Infraestrutura 99.99 99.99 Equity interests and product sales and iron ore CSN Cimentos S.A. 99.99 99.99 Manufacturing and sale of cement Berkeley Participações e Empreendimentos S.A. 100.00 100.00 Electric power generation and equity interests CSN Inova Soluções S.A. 99.99 99.99 Equity interests CSN Participações I 99.99 99.99 Equity interests Circula Mais Serviços de Intermediação Comercial S.A. 0.01 99.99 Commercial intermediation for the purchase and sale of assets and materials in general CSN Participações III 99.99 99.99 Equity interests CSN Participações IV 99.99 99.99 Equity interests CSN Participações V 99.99 99.99 Equity interests Indirect interest in subsidiaries: full consolidation Lusosider Projectos Siderúrgicos S.A. 100.00 100.00 Equity interests and product sales Lusosider Aços Planos, S. A. 99.99 99.99 Steel and Equity interests CSN Resources S.A. 100.00 100.00 Financial transactions and Equity interests Companhia Brasileira de Latas 99.99 99.99 Sale of cans and containers in general and Equity interests Companhia de Embalagens Metálicas MMSA 99.99 99.99 Production and sale of cans and related activities Companhia de Embalagens Metálicas - MTM 99.99 99.99 Production and sale of cans and related activities CSN Steel Holdings 1, S.L.U. 1 100.00 Financial transactions, product sales and Equity interests CSN Productos Siderúrgicos S.L. 100.00 100.00 Financial transactions, product sales and Equity interests Stalhwerk Thüringen GmbH 100.00 100.00 Production and sale of long steel and related activities CSN Steel Sections Polska Sp.Z.o.o 100.00 100.00 Financial transactions, product sales and Equity interests CSN Mining Holding, S.L.U. 79.75 78.24 Financial transactions, product sales and Equity interests CSN Mining GmbH 79.75 78.24 Financial transactions, product sales and Equity interests CSN Mining Asia Limited (8) 79.75 78.24 Commercial representation Lusosider Ibérica S.A. 100.00 100.00 Steel, commercial and industrial activities and equity interests CSN Mining Portugal, Unipessoal Lda. 79.75 78.24 Commercial and representation of products Companhia Siderúrgica Nacional, LLC 100.00 100.00 Import and distribution/resale of products Elizabeth Cimentos S.A. 99.98 99.98 Manufacturing and sale of cement Elizabeth Mineração Ltda 2 99.96 Mining Santa Ana Energética S.A. 100.00 Electric power generation Topázio Energética S.A. 100.00 Electric power generation Brasil Central Energia Ltda. 100.00 Electric power generation Circula Mais Serviços de Intermediação Comercial S.A. 99.99 Commercial intermediation for the purchase and sale of assets and materials in general CSN Cimentos Brasil S.A. 99.99 Manufacturing and sale of cement Metalgráfica Iguaçu S.A 100.00 Metal packaging manufacturing Companhia Energética Chapecó 79.75 Electric power generation Companhia Estadual de Geração de Energia Elétrica - CEEE-G 98.96 Electric power generation Ventos de Vera Cruz S.A. 98.95 Electric power generation Ventos de Curupira S.A 98.95 Electric power generation Ventos de Povo Novo S.A. 98.95 Electric power generation Direct interest in joint operations: proportionate consolidation Itá Energética S.A. 48.75 48.75 Electric power generation Consórcio da Usina Hidrelétrica de Igarapava 17.92 17.92 Electric power consortium Direct interest in joint ventures: equity method MRS Logística S.A. 18.64 18.64 Railroad transportation Aceros Del Orinoco S.A. (*) 31.82 31.82 Dormant company Transnordestina Logística S.A. 47.26 47.26 Railroad logistics Equimac S.A 50.00 50.00 Rental of commercial and industrial machinery and equipment Indirect interest in joint ventures: equity method MRS Logística S.A. 14.86 14.58 Railroad transportation Direct interest in associates: equity method Arvedi Metalfer do Brasil S.A. 20.00 20.00 Metallurgy and Equity interests Indirect interest in affiliates: equity method Ventos da Lagoa Energia S.A. 10.00 Electric power generation Jaguari Energética S.A. 10.50 Electric power generation Chapecoense Geração S.A. 9.00 Electric power generation Parques Eólicos Palmares S.A. 10.00 Electric power generation Ventos do Litoral Energia S.A. 10.00 Electric power generation Ventos dos índios Energia S.A. 10.00 Electric power generation Companhia Energética Rio das Antas - Ceran 10.00 Electric power generation Ventos do Sul S.A. 10.00 Electric power generation Foz Chapecó Energia S.A. 10.00 Electric power generation Exclusive funds: full consolidation Diplic II - Private credit balanced mutual fund 100.00 100.00 Investment fund Caixa Vértice - Private credit balanced mutual fund 100.00 100.00 Investment fund VR1 - Private credit balanced mutual fund 100.00 100.00 Investment fund (*) Dormant companies. 1 - CSN Steel Holdings 1, S.L.U. was incorporated by CSN Productos Siderúrgicos S.L. on August 02, 2022 2 - Elizabeth Mineração was incorporated by CSN Cimentos S/A on April 30, 2022. 10.a) Changes in investments in joint ventures, joint operations, associates and other investments The positions presented as of December 31, 2022 and 2021 and the changes refer to the interest held by CSN in these companies: Schedule of changes in investments, joint ventures, joint operations, associates and other investments Consolidated Companies Opening balance on 12/31/2021 Capital increase Dividends Equity Income Comprehensive income Others Final balance on 12/31/2022 Investments under the equity method Joint-venture, Joint-operation and Affiliate MRS Logistica 1,806,542 (77,403) 325,800 (146) 105 2,054,898 Fair Value MRS 480,622 480,622 Fair Value MRS amortization (70,481) (11,744) (82,225) Transnordestina Logística S.A. 1,114,232 100,000 (29,307) (411) 1,184,514 Fair Value -Transnordestina (*) 271,117 387,989 659,106 Arvedi Metalfer do Brasil (affiliate) 21,541 4,702 (461) 25,782 Equimac S.A 8,428 5,079 3,936 140 899 18,482 Indirect interest in affiliates - CEEE-G - 216,307 216,307 Fair Value indirect participation CEEE-G (1) - 359,024 359,024 Fair Value amortization indirect participation CEEE-G - (25,889) (25,889) 3,632,001 105,079 (77,403) 267,498 (6) 963,452 4,890,621 Equity interests evaluated by the cost method (2) 27,041 14,052 41,093 Investments at fair value through profit or loss (note 14) 190,320 (95,620) 94,700 Others 285 33,303 33,588 Other participations 217,646 14,052 (62,317) 169,381 Total shareholdings 3,849,647 119,131 (77,403) 267,498 (6) 901,135 5,060,002 Classification of investments in the balance sheet Equity interests 3,849,647 5,060,002 Investment Property 162,181 159,080 Total investments in the asset 4,011,828 5,219,082 (*) In 2022, the Company performed an impairment test of the joint venture Transnordestina Logistica S.A. and reversed the impairment of Fair Value of R$ 387,989 (1) As of December 31, 2022, the balance of R$ 359,024 (2) In 2021 and 2022, through CSN Inova Ventures, strategic investments were made in startups, namely: Alinea Health Holdings Ltda. I. Systems Aut. Ind., 2D Materials, H2Pro Ltda, 1S1 Energy, Traive INC., OICO Holdings and Clarke Software; The reconciliation of equity in earnings of companies with shared control classified as joint ventures and associates and the amount presented in the income statement is presented below and results from the elimination of the results of CSN's transactions with these companies: Schedule of equity in results Consolidated 12/31/2022 12/31/2021 Equity in results of affiliated companies MRS Logística S.A. 325,800 260,622 Transnordestina (29,307) (45,870) Arvedi Metalfer do Brasil 4,702 3,265 Equimac S.A 3,936 (608) Fair Value Amortization (37,633) (11,747) 267,498 205,662 Other adjustments Cost of sales (80,006) (62,982) To taxes 27,202 21,414 Others 23,223 18,410 Equity in results 237,917 182,504 10.b) Additional information on operational subsidiaries based in Brazil and abroad · CSN CIMENTOS S.A. (“CSN CIMENTOS”) The cement operations in the Group began in May 2009 with a crushing unit in Volta Redonda/RJ, driven by the synergy between that activity and the generation of slag produced in our blast furnaces in the Presidente Vargas steel plant (“UPV”), a material used as raw material in the production of cement. In 2011, our production of clinker was initiated after the installation of a furnace in Arcos/MG, using calcitic limestone extracted in the Bocaina mine, existing in the same location that also supplies steel limestone to UPV. The clinker produced is primarily loaded by rail to our cement plant in Volta Redonda/RJ. In 2015, the unit in Arcos/MG started its production of cement with the installation of two vertical crushers. In 2016 a second production line of clinker was assembled, reaching full independence for clinker in the production of cement. The production in Arcos is primarily of cement type CP-II, basically composed of clinker, slag, limestone and plaster, and the composition of those materials varies depending on the intended final product. Also, in Arcos, there is extraction of limestone and dolomite destined to UPV. · ELIZABETH CIMENTOS S.A. (“Elizabeth Cimentos”) On August 31, 2021, the acquisition of control of Elizabeth Cimentos and Elizabeth Mineração, through its subsidiary CSN Cimentos, was concluded. Elizabeth Cimentos is a corporation located in Paraíba which manufactures and sells Portland cement and clinker. Its products are marketed in all states of the North and Northeast regions. · ELIZABETH MINERAÇÃO LTDA. (“Elizabeth Mineração”) Elizabeth Mineração is incorporated as a limited liability company, founded in 2005, and its object is the extraction, processing, and sale of stone ores. It may also participate in other companies as a partner, shareholder, or member. Elizabeth Mineração was merged into CSN Cimentos S.A. · SEPETIBA TECON S.A. (“Tecon”) It aims to explore Container Terminal at the Port of Itaguaí, located in Itaguaí, in the State of Rio de Janeiro. The terminal is connected to the UPV by the Southeast railroad network, which is granted to MRS Logística S.A. The services provided are handling operations and storage of containers, steel products and cargo in general, among other products and services for washing, maintenance and hygiene of containers. Tecon won a bidding procedure and entered into the lease agreement on October 23, 1998, starting operations in 2001, for operation of the port terminal for a period of 25 years, extendable for an equal period. In 2022, this deadline was extended for additional 25 years. Upon termination of the lease, all rights and benefits transferred to Tecon will return to the Federal Government, together with the assets owned by Tecon and those resulting from investments made by it in leased assets, declared reversible by the Federal Government as they are necessary for the continuity of the provision of the service granted. The assets declared reversible will be indemnified by the Federal Government at the residual value of their cost, determined by Tecon’s accounting records after deducting depreciation. · ESTANHO DE RONDÔNIA S.A. (“ERSA”) Headquartered in the state of Rondônia, the subsidiary operates two units, one in the city of Itapuã do Oeste/RO and the other in Ariquemes/RO. Mining is located in Itapuã do Oeste, where cassiterite (tin ore) is extracted, and in Ariquemes, the foundry where metallic tin is obtained, which is the raw material used at UPV for the manufacture of metal sheets. · COMPANHIA METALÚRGICA PRADA (“Prada”) Prada operates in two segments: metal steel packaging and flat steel processing and distribution. Packaging In the metal steel packaging segment, Prada produces the best and safest cans, buckets, and aerosols. It serves the chemical and food segments, providing packaging and lithography services to the main companies in the market. Distribution Prada also operates in the flat steel processing and distribution area, with a diversified product line. Supplies coils, rolls, plates, stripes , · METALGRÁFICA IGUAÇU S.A. (“Metalgráfica”) Founded in 1951, Metalgráfica has units in Ponta Grossa (PR) and Goiânia (GO), and produces steel cans for the national and international market of metal food packaging. The operation is a strategic step towards expanding the production capacity of CSN's packaging division. The technology used by Metalgráfica is more modern than that used by CSN, improving the competitiveness of the business and strengthening the national chain, especially in relation to substitute packaging. · CSN ENERGIA S.A. (“Energia”) Its main objective is to sell electric energy to supply the operational needs of its The Company and its respective subsidiaries. If there is a surplus of the acquired energy, it is sold to the market through the CCEE ("Electric Energy Trading Chamber"). The company's head office is located in Rio de Janeiro. · FTL - FERROVIA TRANSNORDESTINA LOGÍSTICA S.A. (“FTL”) Company created for the purpose of incorporating the spun-off portion of Transnordestina Logística S.A. It operates public cargo transportation services in the northeast of Brazil, in the stretches between the cities of São Luís and Altos, Altos and Fortaleza, Fortaleza and Sousa, Sousa and Recife/Jorge Lins, Recife/Jorge Lins and Salgueiro, Jorge Lins and Propriá, Paula Cavalcante and Cabedelo (Branch of Cabedelo) and Itabaiana and Macau (Branch of Macau) (“Malha I”). On March 23, 2021, CSN subscribed FTL shares through the capitalization of credits arising from Advances for Future Capital Increase (AFAC) in the amount of R$ 10,860 92.38 92.71 29 · CSN MINERAÇÃO S.A. (“CSN Mineração”) Headquartered in Congonhas, in the State of Minas Gerais, CSN Mineração S.A. has as its main objective the production, purchase and sale of iron ore, and has the commercialization of products in the foreign market as its focal point. As of November 30, 2015, CSN Mineração S.A. started to centralize CSN’s mining operations, including the establishments of the Casa de Pedra mine, the TECAR port and an 18.63% stake in MRS. CSN's stake in this subsidiary on December 31, 2022 was of 79.75% (78.24% on December 31, 2021). · MINÉRIOS NACIONAL S.A. (“Minérios Nacional”) Headquartered in Congonhas, in the State of Minas Gerais, Minérios Nacional has as main objective the production and sale of iron ore. The subsidiary concentrates the mining rights assets related to the Fernandinho, Cayman and Pedras Pretas mines, all in Minas Gerais transferred to Minérios Nacional S.A. in the business combination operation that took place in 2015. · CBSI - COMPANHIA BRASILEIRA DE SERVIÇOS DE INFRAESTRUTURA (“CBSI”) Located in the city of Araucária, PR, the main purpose of CBSI is to render services to subsidiaries, associates, controlling companies and third-party entities related to the recovery and maintenance of industrial machinery and equipment, civil maintenance, industrial cleaning, preparation product logistics, among others. · COMPANHIA FLORESTAL DO BRASIL (“CFB”) Companhia Florestal do Brasil, a legal entity governed by private law, was incorporated on May 24, 2013. It is organized as a closely-held corporation and the company's head office is located in São Paulo. · The SWT was formed from the defunct Maxhütte steel industrial complex in Unterwellenborn, Germany. SWT produces used steel profiles for civil construction in accordance with international quality standards. It main raw material is steel scrap, and its installed production capacity is 1.1 million tons of steel per year. SWT is an indirect subsidiary of CSN Steel S.L.U., a wholly owned subsidiary of CSN. · Companhia Siderúrgica Nacional, LLC, a wholly owned subsidiary of CSN Steel S.L.U. which, in turn, is a wholly owned subsidiary of CSN, is an importer and marketer of steel products and maintains its activities in the United States. · Incorporated in 1996, as a continuation of Siderúrgica Nacional - a company privatized by the Portuguese government that year, Lusosider is the only Portuguese industry in the steel sector to produce cold-rolled flat steel, with an anti-corrosion coating. Lusosider has an installed capacity of approximately 550 thousand tons/year to produce four large groups of steel products: galvanized sheet, cold-rolled sheet, pickled sheet, and oil-coated sheet. The products manufactured by Lusosider may be used in the packaging industry, civil construction (tubes and metallic structures) and in components for home appliances. · COMPANHIA ESTADUAL DE GERAÇÃO DE ENERGIA ELÉTRICA – CEEE-G. On October 21, 2022, Companhia Florestal Brasileira acquired a 66.23 32.73 Headquartered in Porto Alegre, State of Rio Grande do Sul. CEEE-G's main purpose is to carry out studies, projects, construction and operation of power plants, as well as entering into company acts resulting from these activities, such as the sale of electricity. CEEE-G exercises share control of Special Purpose Entities (SPEs) Ventos de Curupira S.A., Ventos de Povo Novo S.A. and Ventos de Vera Cruz S.A., incorporated in February 2014 and members of the consortium responsible for building the Povo Novo Wind Complex. CEEE-G's stake as of December 31, 2022 is 99.99 · COMPANHIA ENERGÉTICA CHAPECÓ – CEC Companhia Energética Chapecó, headquartered in the city of São Paulo, is an independent electricity production concessionaire whose main activity is to take advantage of the electric energy potential located on the Chapecó River, through a hydroelectric power plant, among the municipalities of Ipuaçu and São Domingos, in the state of Santa Catarina, called Quebra-Queixo Generator Center. On December 11, 2000, Companhia Energética Chapecó signed the Concession Agreement for the Use of Public Assets for the generation of electricity 94/2000 with the Brazilian Electricity Regulatory Agency – ANEEL. The concession has a term of 35 years from the date of signature of the concession contract by the granting authority, which may be extended under the conditions established by ANEEL, and provided that the exploration of the hydroelectric use is in accordance with the conditions of the concession contract and in the legislation of the sector. · CSN CIMENTOS BRASIL S.A. (“CSN Cimentos Brasil”) On September 6, 2022, CSN and LafargeHolcim (Brasil) S.A. ("LafargeHolcim") is a corporation, domiciled in Brazil, with its headquarters located at Estrada Aterrado do Leme, Santa Cruz, Rio de Janeiro - RJ, with industrial plants, warehouses and branches in a large part of the national territory. Its main activities are: production, industry and general trade of cement, lime, mortar, minerals and metals in general and complementary products for civil construction, in natura. The stake as of December 31, 2022 is 99.99 10.c) Main events occurred in the subsidiaries IPO of CSN MINERAÇÃO (a) Initial Public Offering (IPO) On February 17, 2021, the subsidiary CSN Mineração concluded its initial public offering at B3 - Brasil, Bolsa, Balcão. The final prospectus of the public offering consisted of: (i) primary distribution of 161,189,078 422,961,066 372,749,743 50,211,323 8.50 The Company’s interest in the subsidiary CSN Mineração changed from 78.24 79.75 (i) Primary Distribution of Shares Upon the primary distribution, CSN Mineração issued 161,189,078 1,370,107 1,347,862 The issuance of 161,189,078 The impact of the transaction is presented below: Schedule of primary distribution of shares Gain on participation in the capital increase 1,060,530 Loss due to dilution of participation with issue of new shares (231,044) Equity adjustment by dilution of share percentage (7,393) Net gain from the transaction 822,093 (ii) Secondary Distribution of Shares Upon the secondary distribution of shares, Companhia Siderúrgica Nacional sold 327,593,584 common shares of CSN Mineração and, additionally, in March 2021 sold supplementary 50,211,323 377,804,907 9.3 3,211,342 3,164,612 The main impacts of the transaction are presented below: Schedule of Secondary Distribution of shares Equity in the transaction 9,947,525 Number of share before initial public offering 5,430,057,060 Cost per share R$ 1.83 Number of shares sold by CSN 377,804,907 Price per share R$ 8.50 (+) Net cash generated in the transaction 3,211,342 (-) Transaction cost (46,730) (=) net cash reveivable (a) 3,164,612 (-) Cost of shares (b) (692,115) (=) Net gain from the transaction (a)+(b) 2,472,497 - Shares repurchase program of subsidiary CSN Mineração On March 24, 2021, November 3, 2021, and May 18, 2022, the Board of Directors of CSN Mineração approved the Share Repurchase Plans, to remain in treasury and subsequent disposal or cancellation, pursuant to CVM Instruction 567/2015, described below. On May 18, 2022, the cancellation of 105,907,300 nominative common shares without a nominal value, repurchased and held in treasury, was approved at a Board of Directors' Meeting. On December 31, 2022 the subsidiary CSN Mineração had no treasury shares. Schedule of share repurchase programs of subsidiary CSN Mineracao Program Board’s Authorization Authorized quantity Program period Average buyback price Minimum and maximum buyback price Number bought back Share cancelation Treasury balance 1º 03/24/2021 58,415,015 from 3/25/2021 to 9/24/2021 R$ 6.1451 R$ 5.5825 6.7176 52,940,500 52,940,500 2º 11/03/2021 53,000,000 from 11/04/2021 to 9/24/2022 R$ 6.1644 R$ 5.0392 6.1208 52,466,800 105,907,300 05/18/2022 Not applicable Not applicable 105,907,300 3º 05/18/2022 106,000,000 from 05/19/2022 to 5/18/2023 105,407,300 105,907,300 - Drop down - Cement The cement activities had been carried out as a business unit of CSN and, recently, the Company chose to segregate these activities to its subsidiary CSN Cimentos. This segregation was approved at an Extraordinary General Meeting of CSN Cimentos, held on January 31, 2021, which, among other matters, approved a capital increase in CSN Cimentos in the amount of R$2,956,094, with the issuance of 2,956,094,491 new common shares, which were fully subscribed and paid in on the same date by the Company, upon assignment of the net assets, liabilities, goods, rights and obligations related to CSN's cement segment, as described in detail in the Appraisal Report, also approved at the aforementioned meeting. Find below the breakdown of the net assets contributed: Schedule of breakdown of net assets 12/31/2020 01/31/2021 Assets Appraisal reports Close balance Trade receivables 37,171 54,684 Inventories 134,309 164,460 Other assets 29,186 30,228 Property, plant and equipment 3,151,349 3,129,161 Intangíible assets 8,086 8,086 Liabilities Trade payables (253,186) (278,538) Other payables current (42,074) (34,301) Lease liabilities (42,257) (24,430) Other provisions (66,490) (64,125) Net assets 2,956,094 2,985,225 10.d) Joint ventures and joint operations financial information The balance sheet and income statement balances of the companies whose control is shared are shown below and refer to 100% of the companies’ results: Schedule of joint ventures and joint operations financial information 12/31/2022 12/31/2021 Joint-Venture Joint-Operation Joint-Venture Joint-Operation MRS Logística Transnordestina Logística Equimac S.A. Itá Energética MRS Logística Transnordestina Logística Equimac S.A. Itá Energética Equity interest (%) 37.27% 48.03% 50.00% 48.75% 37.27% 47.26% 50.00% 48.75% Balance sheet Current Assets Cash and cash equivalents 867,937 1,164 8,983 46,946 1,836,612 1,259 2,077 42,500 Advances to suppliers 29,500 21,036 1,384 1,273 44,011 11,486 407 1,254 Other current assets 1,351,335 78,777 11,648 30,735 1,065,913 55,334 8,862 18,453 Total current assets 2,248,772 100,977 22,015 78,954 2,946,536 68,079 11,346 62,207 Non-current Assets Other non-current assets 887,987 255,367 1,643 19,007 980,861 124,776 19,578 Investments, PP&E and intangible assets 11,541,779 11,029,525 41,709 325,911 9,614,144 10,145,422 28,964 358,265 Total non-current assets 12,429,766 11,284,892 43,352 344,918 10,595,005 10,270,198 28,964 377,843 Total Assets 14,678,538 11,385,869 65,367 423,872 13,541,541 10,338,277 40,310 440,050 Current Liabilities Borrowings and financing 735,231 142,073 5,497 767,992 228,769 4,041 Lease liabilities 472,129 701 383,323 Other current liabilities 1,682,928 150,268 5,777 14,326 1,513,799 157,946 4,063 40,473 Total current liabilities 2,890,288 292,341 11,975 14,326 2,665,114 386,715 8,104 40,473 Non-current Liabilities Borrowings and financing 3,604,793 7,142,895 14,446 3,551,278 6,665,700 15,351 Lease liabilities 1,928,931 630 1,718,366 Other non-current liabilities 740,892 1,484,884 1,353 18,914 759,538 928,254 16,098 Total non-current liabilities 6,274,616 8,627,779 16,429 18,914 6,029,182 7,593,954 15,351 16,098 Shareholders’ equity 5,513,634 2,465,749 36,963 390,632 4,847,245 2,357,608 16,855 383,479 Total liabilities and shareholders’ 14,678,538 11,385,869 65,367 423,872 13,541,541 10,338,277 40,310 440,050 01/01/2022 to 12/31/2022 01/01/2021 to 12/31/2021 Joint-Venture Joint-Operation Joint-Venture Joint-Operation MRS Logística Transnordestina Logística Equimac S.A. Itá Energética MRS Logística Transnordestina Logística Equimac S.A. Itá Energética Equity interest (%) 37.27% 48.03% 50.00% 48.75% 37.27% 47.26% 50.00% 48.75% Statements of Income Net revenue 5,592,118 375 41,307 188,024 4,427,385 138 15,238 221,023 Cost of sales and services (3,477,896) (24,977) (100,454) (2,919,527) (13,001) (81,649) Gross profit 2,114,222 375 16,330 87,570 1,507,858 138 2,237 139,374 Operating (expenses) income (243,399) (40,685) (3,769) (77,742) (116,499) (76,543) (3,453) (69,097) Financial income (expenses), net (641,862) (21,551) (3,211) 2,545 (345,513) (20,651) 1,274 Income before income tax and social 1,228,961 (61,861) 9,350 12,373 1,045,846 (97,056) (1,216) 71,551 Current and deferred income tax (354,786) (1,479) (4,408) (346,551) (24,390) Profit / (loss) for the year 874,175 (61,861) 7,871 7,965 699,295 (97,056) (1,216) 47,161 · ITÁ ENERGÉTICA S.A. - (“ITASA”) ITASA is a corporation established in July 1996 that was engaged to operate under a concession, the Itá Hydropower Plant (“HPP Itá”), with 1,450 MW of installed power, located on the Uruguay River, on the Santa Catarina and Rio Grande do Sul state border. The HPP Itá concession is shared with ENGIE Brasil Energia S.A., with CSN holding 48.75%. · MRS LOGÍSTICA S.A. (“MRS”) Located in the city of Rio de Janeiro-RJ, the company aims to exploit, for an onerous concession, the public service of railway cargo transportation in the areas of the Southeast Network, located on the Rio de Janeiro, São Paulo, and Minas Gerais axis, previously held by the extinct Rede Ferroviária Federal S.A. - RFFSA. The concession has a term of 30 years from December 1, 1996, extendable for an equal period by exclusive decision of the grantor. In July 2022, the granting authority approved the extension of the concession for additional 30 years from December 1, 2026. MRS can also explore modal transport services related to rail transport and participate in projects aimed at expanding the rail services granted. For the provision of services, MRS leased from RFFSA, for the same period of the concession, the assets necessary for the operation and maintenance of the rail freight transport activities. At the end of the concession, all leased assets will be transferred to the possession of the railway transport operator designated in that same act. The Company directly holds an 18.64% interest in the total capital of MRS and indirectly, through its subsidiary CSN Mineração S.A., a 14.86% interest in the capital of MRS, totaling a 33.50% interest. · CONSÓRCIO DA USINA HIDRELÉTRICA DE IGARAPAVA The Igarapava Hydropower Plant is located on the Grande River, in the city of Conquista, MG, and has installed capacity of 210 MW. It consists of 5 Bulb-type generating units. CSN holds 17.92% of the investment in the consortium, whose specific purpose is the distribution of electricity, which is distributed according to the percentage of participation of each company. 10.e) TRANSNORDESTINA LOGÍSTICA S.A. (“TLSA”) TLSA is primarily engaged in the public service operation and development of a railroad network in the Northeast of Brazil, comprising the rail links Velha-Salgueiro, Salgueiro-Trindade, Trindade-Eliseu Martins, Salgueiro- Porto de Suape, and Missão Velha-Porto de Pecém (“Malha II”). On December 23, 2022, after extensive negotiations involving ANTT, TCU and the then Ministry of Infrastructure, the first amendment to the Concession Agreement was signed, which redefined the scope and deadlines for completion of the TLSA sections, notably to provide for the return of the section Salgueiro-Porto de Suape, which results in a project with the current 1,206 km of rail network and completion deadline up to December 2029. Management relies on resources from its shareholders and third parties to complete the work, which is expected to be available, based on previously conducted agreements and recent discussions between the parties involved. After evaluating this matter, Management concluded that the use of the project’s business continuity accounting basis in the preparation of the financial statements was considered appropriate. Measurement of recoverable value: Schedule of measurement of recoverable value Cash flow projection By 2057 Gross margin Estimated based on market study to capture cargo and operating costs according to market trend studies Cost estimate Study-based costs and market trends Perpetuity growth rate Growth rate was not considered as a result of the projection model until the end of the concession Discount rate Range from 5.32% to 6.99% in real terms Additionally, CSN, as an investor, carried out is impairment test of its interest in TLSA through the ability to distribute dividends by TLSA, a methodology known as the Dividend Discount Model, or DDM, to remunerate the capital invested by its shareholders. For the performance of this test, some factors were taken into account, such as: · The dividend flow was extracted from TLSA’s nominal cash flow; · The dividend flow was calculated considering the percentages of annual participation, considering the dilutions of CSN’s participation resulting from the amortization of debts; · This dividend flow was then discounted to present value using the cost of equity (Ke) embedded in TLSA’s WACC rate; and · This extracted Ke was the one calculated in “rolling WACC” from TLSA. Due to the sharing of investors’ risks and the fact that the asset being tested represents the cash-generating unit itself, which in turn equals the legal entity, the risk determined by CSN’s Management is the same as that applied by TLSA when evaluating the investment of its own assets, with no additional risk factor to the model. Based on the analyses and interpretations of the paragraphs of IAS 28 - Investments in Associates and Joint Ventures and measurement through the impairment test of the investment made, expanding its profitability projections, bringing greater security with respect to its operating assets, thus leading to the Company's decision to reverse impairment of the TLSA’s Fair Value recorded in 2016, in the amount of R$ 387,989 10.f) Other investments · Publicly-held corporation headquartered in Gravataí-RS, whose purpose is the industrialization, trade, import, export and processing of steel and m |
PROPERTY, PLANT AND EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT | 12 Months Ended |
Dec. 31, 2022 | |
Property, plant and equipment [abstract] | |
PROPERTY, PLANT AND EQUIPMENT | 11. PROPERTY, PLANT AND EQUIPMENT Schedule of property, plant and equipment Consolidated Land Buildings and Infrastructure Machinery, equipment and facilities Furniture and fixtures Construction in progress Right of use (i) Other (*) Total Balance at December 31, 2020 257,686 2,677,565 12,457,383 26,297 3,680,322 516,668 100,302 19,716,223 Cost 257,686 4,752,412 26,213,225 182,974 3,680,322 634,786 414,705 36,136,110 Accumulated depreciation (2,074,847) (13,755,842) (156,677) (118,118) (314,403) (16,419,887) Balance at December 31, 2020 257,686 2,677,565 12,457,383 26,297 3,680,322 516,668 100,302 19,716,223 Effect of foreign exchange differences (932) (6,402) (2,627) 1,418 2,076 26 (22) (6,463) Acquisitions 22,441 367,050 6,756 2,527,722 62,106 7,197 2,993,272 Capitalized interest (1) (notes 29 and 34) 87,414 87,414 PP&E provisions for losses and write-offs (note 27) (5,051) (62,606) (194) (5,468) (38,017) (1,550) (112,886) Depreciation (note 26) (163,911) (1,845,757) (7,043) (68,068) (27,878) (2,112,657) Right of use - Remesurement 109,109 109,109 Update of the ARO (Asset retirement obligation) 2,357 2,357 Transfers to fixed assets to investment property without cash effect (4,065) (1) (4,066) Acquisition of Elizabeth 100,489 227,629 278,576 878 16,400 3,173 627,145 Transfers to inventory 261,504 261,504 Others 19 3 22 Balance at December 31, 2021 349,495 3,019,934 13,800,888 29,037 3,643,682 581,824 106,274 21,531,134 Cost 349,495 5,358,388 29,348,048 190,847 3,643,682 754,606 445,870 40,090,936 Accumulated depreciation (2,338,454) (15,547,160) (161,810) (172,782) (339,596) (18,559,802) Balance at December 31, 2021 349,495 3,019,934 13,800,888 29,037 3,643,682 581,824 106,274 21,531,134 Effect of foreign exchange differences (12,314) (21,167) (66,796) (756) (6,137) (1,024) (334) (108,528) Acquisitions 1,402 48,061 6,631 6,618 3,213,068 26,218 58,521 3,360,519 Capitalized interest (1) 135,242 135,242 PP&E provisions for losses and write-offs (note 27) (272) 25,229 (754) (41) 24,162 Depreciation (note 26) (218,941) (2,334,638) (7,245) (104,382) (54,495) (2,719,701) Transfers to other asset categories (70,520) 314,131 2,800,864 5,421 (2,965,725) (84,171) Transfers to intangible assets (101,449) (101,449) Right of use - Remesurement 99,728 99,728 Consolidation of acquired companies and fair value to asset 217,044 1,309,277 2,288,415 7,801 106,869 43,272 171,916 4,144,594 Others 91 4,700 6 (2) (51) 4,744 Balance at December 31, 2022 485,107 4,451,114 16,525,293 40,882 4,025,550 644,880 197,619 26,370,445 Cost 485,107 8,741,911 36,373,386 284,863 4,025,550 1,057,566 643,304 51,611,687 Accumulated depreciation (4,290,797) (19,848,093) (243,981) (412,686) (445,685) (25,241,242) Balance at December 31, 2022 485,107 4,451,114 16,525,293 40,882 4,025,550 644,880 197,619 26,370,445 (*) Refer substantially to assets for railway use, such as yards, rails, mines, and railroad materials; (1) The capitalized borrowing costs are basically determined for the projects in Steel and Mining and refer substantially, to: - CSN: Technological updates and acquisition of new equipment for maintenance of the production capacity of UPV Plant (RJ); - CSN Mineração: Expansion of Casa de Pedra (MG) and TECAR (RJ). (i) Right of use Below the movements of the right of use: Schedule of rights of use Consolidated Land Buildings and Infrastructure Machinery, equipment and facilities Others Total Balance at December 31, 2020 393,015 66,086 51,946 5,621 516,668 Cost 434,689 75,882 81,598 42,617 634,786 Accumulated depreciation (41,674) (9,796) (29,652) (36,996) (118,118) Balance at December 31, 2020 393,015 66,086 51,946 5,621 516,668 Effect of foreign exchange differences 3 (6) 29 26 Addition 1,195 178 40,503 20,230 62,106 Remesurement 63,120 18,031 27,958 109,109 Depreciation (23,424) (10,343) (25,472) (8,829) (68,068) Write-offs (16,940) (20,944) (133) (38,017) Transfers to other asset categories 22,319 (5,810) (20,226) 3,717 Balance at December 31, 2021 439,285 68,145 53,759 20,635 581,824 Cost 500,826 94,196 99,103 60,483 754,608 Accumulated depreciation (61,541) (26,051) (45,344) (39,848) (172,784) Balance at December 31, 2021 439,285 68,145 53,759 20,635 581,824 Effect of foreign exchange differences (360) (62) (602) (1,024) Addition 2,520 2,042 4,191 17,465 26,218 Consolidation of acquired companies 1,092 35,511 6,669 43,272 Remesurement 45,410 8,325 38,430 7,563 99,728 Depreciation (22,153) (16,726) (48,142) (17,361) (104,382) Write-offs (754) (754) Transfers to other asset categories (14) (87) 228 (127) Others (2) (2) Balance at December 31, 2022 465,048 62,431 83,161 34,240 644,880 Cost 548,756 107,782 277,865 123,164 1,057,567 Accumulated depreciation (83,708) (45,351) (194,704) (88,924) (412,687) Balance at December 31, 2022 465,048 62,431 83,161 34,240 644,880 The average estimated useful lives are as follows (in years): Schedule of estimated useful lives Consolidated 12/31/2022 12/31/2021 Buildings and Infrastructure 34 34 Machinery, equipment and facilities 18 18 Furniture and fixtures 12 12 Others 9 10 Accounting Policy Property, plant and equipment are carried at cost of acquisition, formation or construction, minus accumulated depreciation or depletion and any impairment loss. Depreciation is calculated using the straight-line method based on the remaining useful life of assets or the term of the contract, whichever is shorter. The depletion of mines is calculated based on the quantity of ore mined. Land is not depreciated since their useful life is considered indefinite. All other disbursements are expensed as incurred. · Capitalized interest Borrowing costs directly attributable to the acquisition, construction and or production of qualifying assets are capitalized as part of the cost of the asset when it is probable that they will result in future economic benefits and on which date they are ready to determine their functions in the manner intended by the Company. · Development costs of new ore deposits Costs for the development of new ore deposits, or for the expansion of the capacity of the mines in operation are capitalized and amortized by the method of units produced (extracted) based on the probable and proven quantities of ore. · Exploration expenses Exploration expenses are recognized as expenses until the viability of the mining activity is established; after that period, subsequent costs are capitalized. · Waste removal costs Expenses incurred during the development phase of a mine, prior to the production phase, are accounted for as part of the depreciable development costs. Subsequently, these costs are amortized over the useful life of the mine on the basis of probable and proven reserves. · Stripping costs The stripping costs incurred in the production phase are added to the stock value, except when a specific extraction campaign is carried out to access deeper deposits of the deposit. In this case, costs are capitalized and classified in non-current assets and are amortized over the useful life of the deposit. |
INTANGIBLE ASSETS
INTANGIBLE ASSETS | 12 Months Ended |
Dec. 31, 2022 | |
Intangible Assets | |
INTANGIBLE ASSETS | 12. INTANGIBLE ASSETS Schedule of intangible assets Consolidated Goodwill Customer relationships Software Trademarks Rights and licenses (*) Others Total Balance at December 31, 2020 3,606,156 278,041 45,665 215,532 3,169,349 2,051 7,316,794 Cost 3,846,563 823,540 182,059 215,532 3,193,787 2,051 8,263,532 Accumulated amortization (131,077) (545,499) (136,394) (24,438) (837,408) Adjustment for accumulated recoverable value (109,330) (109,330) Balance at December 31, 2020 3,606,156 278,041 45,665 215,532 3,169,349 2,051 7,316,794 Effect of foreign exchange differences (1,835) (24) (1,923) (18) (3,800) Acquisitions and expenditures 3,302 27 3,329 Transfer of property, plant and equipment 29,840 29,840 Amortization (note 27) (68,294) (12,343) (21,843) (102,480) Disposals (63) (63) Transfers to other asset categories 39,814 (39,814) Business Combination Elizabeth (note 4) 83,266 330,164 413,430 Balance at December 31, 2021 3,729,236 207,912 66,440 213,609 3,437,883 1,970 7,657,050 Cost 3,969,643 816,206 221,712 213,609 3,484,778 1,970 8,707,918 Accumulated amortization (131,077) (608,294) (155,272) (46,895) (941,538) Adjustment for accumulated recoverable value (109,330) (109,330) Balance at December 31, 2021 3,729,236 207,912 66,440 213,609 3,437,883 1,970 7,657,050 Effect of foreign exchange differences (26,059) (544) (25,399) (214) (52,216) Acquisitions 830 76,764 644 78,238 Consolidation of acquired companies 402,247 33,982 6,008 38,370 2,677,809 3,158,416 Transfer of property, plant and equipment 30,456 70,993 101,449 Amortization (note 26) (63,351) (15,344) (1,393) (74,795) (154,883) Balance at December 31, 2022 4,131,483 152,484 87,846 225,187 6,188,654 2,400 10,788,054 Cost 4,371,890 753,307 296,456 226,581 6,400,593 2,400 12,051,227 Accumulated amortization (131,077) (600,823) (208,610) (1,394) (211,939) (1,153,843) Adjustment for accumulated recoverable value (109,330) (109,330) Balance at December 31, 2022 4,131,483 152,484 87,846 225,187 6,188,654 2,400 10,788,054 (*) Comprised mainly of: (i) mining rights whose amortization is based on production volume and (ii) Concession agreement for the use of water resources in the acquisition of control of CEEE-G, amortized over the agreement term (note 3.c). The average estimated useful lives are as follows (in years): Schedule of average useful life by nature Consolidated 12/31/2022 12/31/2021 Software 10 9 Customer relationships 13 13 12.a) Goodwill impairment test Goodwill arising from expected future profitability of acquired companies and intangible assets with indefinite useful lives (trademarks) were allocated to CSN’s cash-generating units (CGUs) which represent the lowest level of assets or group of assets of the Group. According to IAS36, when a CGU has an intangible asset with no defined useful life allocated, the Company must perform an impairment test. The CGUs with intangible assets in this situation are shown below: Schedule of goodwill impairment test Consolidated Goodwill Trademarks Total Cash generating unity Segment 12/31/2022 12/31/2021 12/31/2022 12/31/2021 12/31/2022 12/31/2021 Packaging (1) Steel 170,163 158,748 170,163 158,748 Long steel (2) Steel 235,595 235,595 225,187 213,609 460,782 449,204 Mining (3) Mining 3,236,402 3,236,402 3,236,402 3,236,402 Other Steel (4) Steel 15,225 15,225 15,225 15,225 Cements (5) Cement 474,098 83,266 474,098 83,266 4,131,483 3,729,236 225,187 213,609 4,356,670 3,942,845 (1) The goodwill of the Packaging cash-generating unit is shown net of impairment loss in the amount of R$ 109,330 11,415 (2) The goodwill and trademark that are recorded in intangible assets at long steel segment, derives from the business combination of Stahlwerk Thuringen GmbH ("SWT") and Gallardo Sections CSN. The assets mentioned are considered to have indefinite useful lives as they are expected to contribute indefinitely to the Company's cash flows. (3) Refers to the goodwill for expected future profitability, resulting from the acquisition of Namisa by CSN Mineração concluded in December 2015, which recoverability is tested annually. (4) On November 29, 2019, CSN acquired the stake held by CKTR Brasil Serviços Ltda., corresponding to 50 100 (5) In the acquisition of Elizabeth Cimentos S.A. in August 2021 goodwill for expected future profitability in the amount of R$ 83,266 390,832 The impairment testing of the goodwill and the trademark include the balance of property, plant and equipment of the cash-generating units and also the intangible assets. The test is based on the comparison between the actual balances and the value in use of those units, determining based on the projections of discounted cash flows and use of such assumptions and judgments as: growth rate, costs and expenses, discount rate, working capital, future Capex and macroeconomic assumptions observable in the market. The main assumptions used in calculating the values in use as of December 31, 2022 are as follows: Schedule of main assumptions for intangible asstes impairment Packaging Mining Other Steelmaking Flat Steel (*) Flat Steel (*) Logistics (**) Cements Measurement of recoverable value Discounted Cash Flow Discounted Cash Flow Discounted Cash Flow Discounted Cash Flow Discounted Cash Flow Discounted Cash Flow Discounted Cash Flow Cash flow projection Until 2032 + perpetuity Until 2064 Until 2032 + perpetuity Until 2032 + perpetuity Until 2035 + perpetuity Until 2027 Until 2050 + perpetuity Gross Margin Gross margin updated based on It reflects projection of costs due to the progress of the mining plan as well as startup and project ramp up. Prices and exchange rates projected according to sectoral reports. Gross margin updated based on historical data and market trends Gross margin updated based on historical data and market trends Gross margin updated based on historical data and market trends Estimated based on market study to captures cargo and operational costs according to market trend studies Gross margin updated based on historical data and market trends Cost atualization Cost based on historical data of Update of costs based on historical data, progress of the mining plan as well as startup and project ramp up Updated costs based on historical data and market trends Updated costs based on historical data and market trends Updated costs based on historical data and market trends Study-based costs and market trends Study-based costs and market trends Perpetual growth rate Without growth Without perpetuity Without growth Without growth Without growth Without perpetuity Without growth Discount rate For packaging, cash flows were discounted using a discount rate around 9.13 3.53 13.09 5.60 16.49 6.01 7.56 The discount rate was based on the weighted average cost of capital ("WACC") that reflects the specific risk of each segment. * Refers to the assets of the subsidiary Lusosider, located in Portugal and also the assets of Stahlwerk Thüringen (SWT) located in Germany. The discount rate was applied on the discounted cash flow prepared in Euros, the functional currency of these subsidiaries. ** Refers to the assets of the subsidiary FTL - Ferrovia Transnordestina Logística S.A.; Accounting Policy Intangible assets basically comprise assets acquired from third parties, including through business combinations. These assets are recorded at acquisition or formation cost and deducted from amortization calculated using the straight-line method based on the economic useful life of each asset, within the estimated periods of exploration or recovery. Mineral exploration rights are classified as rights and licenses in the intangible group. Intangible assets with an indefinite useful life are not amortized. · Goodwill Goodwill represents the positive difference between the amount paid and/or payable for the acquisition of a business and the net fair values of assets and liabilities of the subsidiary acquired. Goodwill on acquisitions in business combinations is recorded as intangible assets in the consolidated financial statements. The gain on bargain purchase is recognized as a gain in the income statement for the period of the acquisition. Goodwill is tested for impairment annually or at any time when circumstances indicate a possible loss. Recognized impairment losses on goodwill, if any, are not reversed. Gains and losses on the disposal of a Cash Generating Unit (“CGU”), if any, include the carrying amount of goodwill related to the CGU sold. · Impairment of Non-financial Assets Assets that have an indefinite useful life, such as goodwill, are not subject to amortization and are tested annually for impairment. Assets that are subject to amortization and/or depreciation, such as fixed assets and investment properties, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. An impairment loss is recognized at the amount by which the carrying amount of the asset exceeds its recoverable amount. The latter is the higher of an asset's fair value less costs to sell and its value in use. For impairment assessment purposes, assets are grouped at the lowest levels for which there are separately identifiable cash flows (Cash Generating Units). Non-financial assets other than goodwill that have suffered impairment are reviewed subsequently each year for possible reversal of the impairment. |
BORROWINGS AND FINANCING
BORROWINGS AND FINANCING | 12 Months Ended |
Dec. 31, 2022 | |
Borrowings And Financing | |
BORROWINGS AND FINANCING | 13. BORROWINGS AND FINANCING The balances of borrowings and financing that, recorded at amortized cost are as follows: Schedule of borrowings and financing Consolidated Current Liabilities Non-current Liabilities 12/31/2022 12/31/2021 12/31/2022 12/31/2021 Foreign Debt Floating Rates: Prepayment 1,571,208 1,626,521 5,474,359 3,875,713 Fixed Rates: Bonds, Perpetual bonds, Facility, CCE and ACC 1,189,717 678,239 16,790,284 15,380,392 Intercompany Fixed interest in EUR Intercompany Facility 62,187 550,460 166,302 79,013 2,823,112 2,855,220 22,430,945 19,335,118 Debt agreements in Brazil Floating Rate Securities in R$: BNDES/FINAME/FINEP, Debentures, NCE and CCB 2,446,840 2,677,516 13,740,051 7,886,796 2,446,840 2,677,516 13,740,051 7,886,796 Total Borrowings and Financing 5,269,952 5,532,736 36,170,996 27,221,914 Transaction Costs and Issue Premiums (76,316) (45,877) (445,890) (201,251) Total Borrowings and Financing + Transaction cost 5,193,636 5,486,859 35,725,106 27,020,663 13.a) Movements of borrowings and financing The following table shows amortization and funding during the year: Schedule of movements of borrowings and financing Consolidated 12/31/2022 12/31/2021 Opening balance 32,507,522 35,270,653 New debts 20,248,223 12,915,332 Repayment (10,782,858) (17,639,178) Payments of charges (2,315,586) (2,137,782) Accrued charges (note 29) 2,595,011 2,140,961 Acquisition of Elizabeth 372,123 Consolidation of companies 81,978 Others (1) (1,415,548) 1,585,413 Closing balance 40,918,742 32,507,522 (1) Including unrealized exchange and monetary variations and funding cost. In 2022, the Company entered into new debt agreements and amortized borrowings and financing as shown below: Schedule of financial assets group captures and amortized loans Consolidated 12/31/2022 Nature New debts Maturities Repayment Interest payment Pre-Payment 2,131,171 2023 to 2032 (467,381) (174,797) Bonds, ACC, CCE e Facility 9,253,891 2023 to 2032 (3,471,458) (951,167) Debentures 7,300,000 2024 to 2037 BNDES/FINAME, Debêntures, NCE e CCB 1,563,161 2023 to 2025 (6,844,019) (1,189,622) 20,248,223 (10,782,858) (2,315,586) 13.b) Maturities of borrowings and financing presented in current and non-current liabilities Schedule of financial assets maturities of borrowings, financing and debentures Consolidated 12/31/2022 Borrowings and financing in foreign currency Borrowings and financing in national currency Total Average rate in Dollar 5.84%in Euro 3.07% in Real 15.40% 2023 2,823,112 2,446,840 5,269,952 2024 852,419 3,022,057 3,874,476 2025 2,307,737 1,151,692 3,459,429 2026 2,469,116 2,170,972 4,640,088 2027 796,378 2,191,107 2,987,485 2028 to 2031 12,992,073 2,687,293 15,679,366 After 2031 3,013,222 2,516,930 5,530,152 25,254,057 16,186,891 41,440,948 · Covenants The Company debt agreements provide for the fulfillment of certain non-financial obligations, as well as the maintenance of certain parameters and performance indicators, such as disclosure of its audited financial statements according to regulatory deadlines or payment of commission for risk assumption, if the indicator of net debt to EBITDA reaches the levels foreseen in those agreements. As of December 31, 2022, the Company is compliant with the financial and non-financial obligations (covenants) of its existing agreements. Accounting Policy Borrowings and financing are initially recognized at fair value, net of transaction costs and subsequently measured at amortized cost using the effective interest rate and charges methods. Interest, commissions, and possible financial charges are recorded pro-rata on an accrual basis. |
FINANCIAL INSTRUMENTS
FINANCIAL INSTRUMENTS | 12 Months Ended |
Dec. 31, 2022 | |
Financial Instruments | |
FINANCIAL INSTRUMENTS | 14. FINANCIAL INSTRUMENTS 14.a) Identification and valuation of financial instruments The Company may operate with several financial instruments, with emphasis on cash and cash equivalents, including financial investments, marketable securities, accounts receivable from customers, accounts payable to suppliers and borrowings and financing. Additionally, the Company may also operate with derivative financial instruments, such as swap of exchange or interest and commodities derivatives. Considering the nature of these instruments, their fair values are basically determined by the use of quotations in the capital markets in Brazil and the Mercantile and Futures Exchange. The amounts recorded in current assets and liabilities have immediate liquidity or maturity, mostly in the short term. Considering the terms and characteristics of these instruments, the carrying amounts approximate the fair values. · Classification of financial instruments Schedule of financial instruments Consolidated Consolidated 12/31/2022 12/31/2021 Notes Fair value through profit or loss Measured at amortized cost Balances Fair value through profit or loss Measured at amortized cost Balances Assets Current Cash and cash equivalents 4 11,991,356 11,991,356 16,646,480 16,646,480 Short-term investments 5 1,184,895 271,590 1,456,485 2,383,059 261,673 2,644,732 Trade receivables 6 3,233,164 3,233,164 2,597,838 2,597,838 Dividends and interest on equity 9 77,377 77,377 76,878 76,878 Trading securities 9 9,596 9,596 12,028 12,028 Loans - related parties 9 5,383 5,383 4,511 4,511 Total 1,194,491 15,578,870 16,773,361 2,395,087 19,587,380 21,982,467 Non-current Investments 5 156,185 156,185 147,671 147,671 Other trade receivables 9 8,059 8,059 2,345 2,345 Eletrobrás compulsory loan 9 58,030 58,030 859,607 859,607 Receivables by indemnity 9 974,863 974,863 534,896 534,896 Loans - related parties 9 1,384,773 1,384,773 1,143,228 1,143,228 Investments 10 94,700 94,700 190,321 190,321 Total 94,700 2,581,910 2,676,610 190,321 2,687,747 2,878,068 Total Assets 1,289,191 18,160,780 19,449,971 2,585,408 22,275,127 24,860,535 Liabilities Current Borrowings and financing 13 5,269,952 5,269,952 5,532,736 5,532,736 Leases 15 177,010 177,010 119,047 119,047 Trade payables 16 6,596,915 6,596,915 6,446,999 6,446,999 Trade payables - drawee risk 17 5,709,069 5,709,069 4,439,967 4,439,967 Dividends and interest on capital 17 611,307 611,307 1,206,870 1,206,870 Derivative financial instruments 416,935 416,935 Total 416,935 18,364,253 18,781,188 17,745,619 17,745,619 Non-current Borrowings and financing 13 36,170,996 36,170,996 27,221,914 27,221,914 Leases 15 516,836 516,836 492,504 492,504 Trade payables 16 46,269 46,269 98,625 98,625 Derivative financial instruments 17 69,472 69,472 101,822 101,822 Total 69,472 36,734,101 36,803,573 101,822 27,813,043 27,914,865 Total Liabilities 486,407 55,098,354 55,584,761 101,822 45,558,662 45,660,484 · Fair value measurement The following table shows the financial instruments recorded at fair value through profit or loss, classifying them according to the fair value hierarchy: Schedule of financial instruments at fair value through profit or loss Consolidated 12/31/2022 12/31/2021 Level 1 Level 2 Balances Level 1 Level 2 Balances Assets Current Financial investments 1,184,895 1,184,895 2,383,059 2,383,059 Trading securities 9,596 9,596 12,028 12,028 Non-current Investments 94,700 94,700 190,321 190,321 Total Assets 1,289,191 1,289,191 2,585,408 2,585,408 Liabilities Current Derivative financial instruments 416,935 416,935 Non-current Derivative financial instruments 69,472 69,472 101,822 101,822 Total Liabilities 486,407 486,407 101,822 101,822 Level 1 Level 2 Level 3 - 14.b) Financial risk management The Company uses risk management strategies with guidance on the risks incurred on the business. The nature and general position of financial risks are regularly monitored and managed in order to assess results and the financial impact on cash flow. Credit limits and hedge quality of counterparties are also reviewed periodically. Market risks are hedged when is considered necessary to support the corporate strategy or when it is necessary to maintain the level of financial flexibility. The Company is exposed to exchange rate, interest rate, market price and liquidity risks. The Company may manage some of the risks through the use of derivative instruments not associated with any speculative trading or short selling. · Exchange rate risk The exposure arises from the existence of assets and liabilities denominated in Dollar or Euro, since the Company’s functional currency is substantially the Real and is referred to as natural exchange exposure. The net exposure is the result of the offsetting of the natural exchange exposure by the instruments of hedge adopted by CSN. The consolidated net exposure as of December 31, 2022 is shown below: Schedule of foreign exchange exposure 12/31/2021 Foreign Exchange Exposure (Amounts in US$’000) (Amounts in US$’000) Cash and cash equivalents overseas 1,191,036 1,656,271 Trade receivables 315,920 212,424 Financial investments 26,930 23,748 Borrowings and financing (4,594,471) (3,866,290) Trade payables (366,149) (613,961) Others (23,079) (149,532) Natural Gross Foreign Exchange Exposure (assets - liabilities) (3,449,813) (2,737,340) Cash flow hedge accounting 4,409,760 2,655,350 Exchange rate swap CDI x Dollar (67,000) (67,000) Exchange rate swap Real x Dollar (115,000) Net foreign exchange exposure 777,947 (148,990) CSN uses Hedge Accounting strategy, as well as derivative financial instruments to protect future cash flows. Sensitivity analysis of derivative financial instruments and consolidated foreign exchange exposure The Company considered scenarios 1 and 2 to be 25% and 50% deterioration for currency volatility, using the exchange rate closing rate as of December 31, 2022, as a reference. The currencies used in the sensitivity analysis and their respective scenarios are shown below: Schedule of scenarios 12/31/2022 Currency Exchange rate Probable scenario Scenario 1 Scenario 2 USD 5.2177 5.2070 6.5221 7.8266 EUR 5.5694 5.5580 6.9618 8.3541 USD x EUR 1.0674 1.0674 1.3343 1.6011 The effects on the result, considering scenarios 1 and 2, are shown below: Schedule of sensitivity analysis effects on income statement 12/31/2022 Instruments Notional Risk Probable scenario (*) R$ Scenario 1 R$ Scenario 2 R$ Gross exchange position (3,449,813) Dollar 36,913 (4,500,022) (9,000,045) Cash flow hedge accounting 4,409,760 Dollar (47,184) 5,752,201 11,504,402 Exchange rate swap CDI x Dollar (67,000) Dollar 717 (87,396) (174,793) Exchange rate swap Real x Dollar (115,000) Dollar 1,230 (150,009) (300,018) Net exchange position 777,947 Dollar (8,324) 1,014,774 2,029,546 (*) The probable scenarios were calculated considering the following variations for the risks: Real x Dollar – valuation of the Real by 0.21% / Real x Euro - valuation of the Real by 0.20% / Euro x Dollar - no variation. Source: Central Bank of Brazil and European Central Bank quotations on March 1, 2023. · Interest rate risk This risk arises from financial investments, borrowings and financing and debentures linked to the fixed and floating interest rates of the CDI, TJLP and LIBOR, exposing these financial assets and liabilities to interest rate fluctuations as shown in the sensitivity analysis table below. With the modification of the global financial market in recent years and in line with the recommendations of international regulatory bodies, the market began to transition from the Libor rate (London Interbank Offered Rate) to the SOFR (Secured Overnight Financing Rate) as of 2022. The Company has not yet migrated its contracts to SOFR, as it is awaiting guidance from the financial market to transition the rate of its contracts. Sensitivity analysis of changes in interest rates We present below the sensitivity analysis for interest rate risks. The Company considered scenarios 1 and 2 to be 25% and 50% deterioration for interest rate volatility using the closing rate as of December 31, 2022, as a reference. The interest rates used in the sensitivity analysis and their scenarios are shown below: Schedule of sensitivity analysis of interest rates 12/31/2022 Interest Interest rate Scenario 1 Scenario 2 CDI 13.65 17.06 20.48 TJLP 7.20 9.00 10.80 LIBOR 5.14 6.42 7.71 SELIC 13.75 17.19 20.63 The effects on profit and loss, considering scenarios 1 and 2, are shown below: Schedule of effects on profit and loss Consolidated Changes in interest rates % p.a Assets Liabilities Probable scenario (*) Scenario 1 Scenario 2 CDI 13.65 5,026,521 (14,249,092) (10,481,452) (10,796,172) (11,110,892) TJLP 7.20 (1,044,833) (1,120,061) (1,138,868) (1,157,675) Libor 5.14 (6,936,984) (7,293,466) (7,382,586) (7,471,707) Selic 13.75 (14,596) (16,603) (17,105) (17,606) (*) The sensitivity analysis is based on the premise of maintaining the market values as of December 31, 2022 as a probable scenario recorded in the company´s assets and liabilities. · Market price risk The Company is also exposed to market risks related to the volatility of commodity and input prices. In line with its risk management policy, risk mitigation strategies involving commodities can be used to reduce cash flow volatility. These mitigation strategies may incorporate derivative instruments, predominantly forward transactions, futures, and options. Below are the instruments for price risk protection, as shown in the following topics: a) Cash flow hedge accounting - “Platts” index The Company has derivative operations for iron ore, contracted by the subsidiary CSN Mineração, with the objective of reducing the volatility of its exposure to the commodity. In order to better reflect the accounting effects of the Platts hedge strategy in the result, CSN Mineração opted to make the formal designation of the hedge and consequently adopted hedge accounting of the iron ore derivative as a hedge accounting instrument of its highly probable future iron ore sales. With this, the mark-to-market resulting from the volatility of Platts will be temporarily recorded in shareholders' equity and will be taken to the result when the referred sales occur according to the contracted period of assessment, thus allowing the recognition of the volatility of Platts on the sales of iron ore to be recognized at the same moment. The table below shows the result of the derivative instrument until December 31, 2022: Schedule of dollar x Euro swap 12/31/2022 12/31/2022 12/31/2021 12/31/2022 12/31/2021 12/31/2022 12/31/2021 Appreciation (R$) Fair value (market) Other income and expenses (note 27) Other comprehensive income Exchange variation Maturity Notional Asset position Liability position Amounts receivable / (payable) 02/02/2021 to 10/02/2021 (Settled) Platts (27,728) 16,790 05/31/2022 (Settled) Platts 23,374 (1,087) 12/01/2022 to 12/31/2022 Platts 797,721 (873,385) (75,664) (75,664) 667 01/01/2023 to 01/31/2023 Platts 1,098,354 (1,218,934) (120,580) 120,580 (1,484) 02/01/2023 to 02/28/2023 Platts 1,087,106 (1,197,361) (110,255) 110,255 (1,244) 03/01/2023 to 03/31/2023 Platts 696,149 (770,062) (73,913) 73,913 (938) 04/01/2023 to 04/30/2023 Platts 372,109 (385,572) (13,463) 13,463 (131) 05/01/2023 to 05/31/2023 Platts 392,861 (404,946) (12,085) 12,085 (81) 06/01/2023 to 06/30/2023 Platts 396,961 (407,934) (10,973) 10,973 (35) 4,841,261 (5,258,194) (416,933) (52,290) (27,728) 341,269 (4,333) 16,790 The changes in the amounts related to cash flow hedge accounting - Platts index recorded in shareholders' equity on December 31, 2022, are shown as follows: Schedule of fair value of cash flow accounting platts, net 12/31/2021 Movement Realization 12/31/2022 Cash flow hedge accounting – “Platts” 393,559 (52,290) 341,269 Income tax and social contribution on cash flow hedge accounting (133,810) 17,779 (116,031) Fair Value of cash flow accounting - Platts, net 259,749 (34,511) 225,238 The cash flow hedge accounting - Platts index - has been fully effective since the derivative instruments were contracted. To support the above-mentioned designations, the Company prepared formal documentation indicating how the designation of cash flow hedge accounting - Platts index is aligned with CSN's risk management objective and strategy, identifying the hedge instruments used, the hedge object, the nature of the risk to be protected and demonstrating the expectation of high effectiveness of the relations designated. Iron ore derivative instruments (“Platts” index) were designated in amounts equivalent to the portion of future sales, comparing the amounts designated with the amounts expected and approved in the Management and Board budgets. Sensitivity analysis for Platts price risks We present below the sensitivity analysis for Platts price risks. The Company considered scenarios 1 and 2 to be 25% and 50% devaluation in the share price using the closing rate on December 31, 2022, as a reference. The effects on the result, considering probable scenarios 1 and 2, are shown below: Schedule of sensitivity analysis for platts price risks 12/31/2022 Maturity Probable scenario R$ Scenario 1 R$ Scenario 2 R$ 01/01/2023 to 01/31/2023 (187,669) (362,057) (654,139) 02/01/2023 to 02/28/2023 (187,132) (359,922) (649,327) 03/01/2023 to 03/31/2023 (129,814) (241,817) (429,410) 04/01/2023 to 04/30/2023 (44,186) (100,637) (195,186) 05/01/2023 to 05/31/2023 (47,457) (107,165) (207,171) 06/01/2023 to 06/30/2023 (44,919) (104,839) (205,199) (641,177) (1,276,437) (2,340,432) b) Cash flow hedge accounting Foreign exchange hedge The Company and its subsidiary CSN Mineração formally designates relations of hedge of cash flows to protect highly probable future flows exposed to the dollar related to sales made in dollars. With the objective of better reflecting the accounting effects of the hedge exchange rate in the result, CSN and its subsidiary CSN Mineração designated part of their dollar liabilities as an instrument of future hedge exports. As a result, the exchange rate variation resulting from the designated liabilities will be temporarily recorded in shareholders’ equity and will be reflected in the income statement when said exports occur, thus allowing the recognition of dollar fluctuations on liabilities and on exports to be recorded at the same time. It is noteworthy that the adoption of this hedge accounting does not imply the contracting of any financial instrument. The table below presents a summary of the relations of hedge as of December 31, 2022: Schedule of hedging instruments 12/31/2022 Designation Date Hedging Instrument Hedged item Type of hedged risk Hedged period Exchange rate on designation Designated amounts (US$’000) Amortizated part (USD'000) Effect on Result (*) (R$'000) Impact on Shareholders' equity (R$'000) 07/23/2015 Export prepayments in US$ to third parties Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate August 2018 - October 2022 3.2850 30,000 (30,000) (11,832) 07/24/2015 Export prepayments in US$ to third parties Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate August 2018 - October 2022 3.3254 100,000 (100,000) (39,382.00000) - 07/27/2015 Export prepayments in US$ to third parties Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate August 2018 - October 2022 3.3557 25,000 (25,000) (1,583.00000) - 07/27/2015 Export prepayments in US$ to third parties Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate August 2018 - October 2022 3.3557 70,000 (70,000) (26,068.00000) - 07/27/2015 Export prepayments in US$ to third parties Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate August 2018 - October 2022 3.3557 30,000 (30,000) (20,038.00000) - 07/28/2015 Export prepayments in US$ to third parties Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate August 2018 - October 2022 3.3815 30,000 (30,000) (11,253.00000) - 3/8/2015 Export prepayments in US$ to third parties Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate July 2018 - October 2022 3.3940 355,000 (355,000) (22,356) - 2/4/2018 Bonds Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate July 2018 - February 2023 3.3104 1,170,045 (1,093,045) (389,596) 290,375 07/31/2019 Bonds and Export prepayments in US$ to third parties Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate January 2020 - April 2026 3.7649 1,342,761 (829,661) (770,870) 745,432 10/1/2020 Bonds Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate March 2027 - January 2028 4.0745 1,416,000 (1,287,000) (67,766) 1,362,073 01/28/2020 Bonds Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate March 2027 - January 2028 4.2064 1,000,000 - - 1,011,300 1/6/2022 Bonds and Export prepayments in US$ to third parties Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate June 2022 - April 2032 4.7289 1,145,300 (62,200) (32,290) 529,419 1/6/2022 Export prepayments in US$ to third parties Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate June 2022 - May 2033 4.7289 878,640 (61,080) (33,265) 399,623 1/12/2022 Bonds Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate December 2022 - June 2031 5.0360 490,000 89,033 1/12/2022 Advance on foreign exchange contract Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate December 2022 - November 2023 5.1643 60,000 3,204 1/12/2022 Advance on foreign exchange contract Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate December 2022 - December 2025 5.2565 100,000 (3,880) 1/12/2022 Advance on foreign exchange contract Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate December 2022 - January 2024 5.2660 50,000 (2,415) 1/12/2022 Advance on foreign exchange contract Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate December 2022 - November 2023 5.3270 20,000 (2,186) 1/12/2022 Export prepayments in US$ to third parties Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate December 2022 - June 2027 5.0360 70,000 12,719 Total 8,382,746 (3,972,986) (1,426,299) 4,434,697 (*) The realization of Hedge accounting cash flow is recognized in Other operating income and expenses, note 27. The net balance of amounts designated and already amortized in dollars totals US$4,409,760. In the hedging relationships described above, the amounts of the debt instruments were fully designated for equivalent iron ore export portions. As of December 31, 2022, the hedging relationships established by the Company were effective according to the retrospective and prospective tests performed. Thus, no reversal for cash flow hedge accounting ineffectiveness was recognized. c) Net investment hedge in foreign subsidiaries The information related to the net investment hedge did not change in relation to that disclosed in the Company's financial statements as of December 31, 2021. The balance recorded as of December 31, 2022 and December 31, 2021 is R$ 6,293 d) Hedge accounting movements The changes in the amounts related to cash flow hedge accounting recorded in shareholders’ equity as of December 31, 2022 are shown as follows: Schedule of hedge accounting movements Consolidated 12/31/2021 Movement Realization 12/31/2022 Cash flow hedge accounting 5,763,400 97,596 (1,426,299) 4,434,697 Income tax and social contribution on cash flow hedge accounting (1,959,556) (33,183) 484,942 (1,507,797) Fair Value of cash flow accounting, net taxes 3,803,844 64,413 (941,357) 2,926,900 · Credit risk The exposure to credit risks of financial institutions considers the parameters established in the financial policy. The Company practices a detailed analysis of the financial situation of its customers and suppliers, the determination of a credit limit and the permanent monitoring of its outstanding balance. With regard to financial investments, the Company only invests in institutions with low credit risk assessed by credit rating agencies. Since part of the funds is invested in repo operations that are backed by Brazilian government bonds, there is also exposure to the credit risk of the country. As for the exposure to credit risk in accounts receivable and other receivables, the Company has a credit risk committee, in which each new customer is analyzed individually regarding their financial condition, before granting the credit limit and payment terms, and periodically reviewed based on procedures and circumstances of each business area. · Liquidity risk It is the risk that the Company may not have sufficient net funds to honor its financial commitments as a result of the mismatch of term or volume between expected receipts and payments. Future receipt and payment premises are established to manage cash liquidity in domestic and foreign currencies, which are monitored on a day-to-day basis by the Treasury Department. The payment schedules for long-term installments of borrowings, financing and debentures are shown in note 13. The following are the contractual maturities of financial liabilities including interest. Schedule of contractual maturities of financial liabilities including interest Consolidated At December 31, 2022 Less than one year From one to two years From two to five years Over five years Total Borrowings, financing and debentures (note 13) 5,269,952 3,874,476 11,087,002 21,209,518 41,440,948 Lease Liabilities (note 15) 177,010 155,938 139,118 221,780 693,846 Derivative financial instruments (note 14 a) 416,935 69,472 486,407 Trade payables (note 16) 6,596,915 27,838 18,411 20 6,643,184 Trade payables - Drawee Risk (note 17) 5,709,069 5,709,069 Dividends and interest on equity (note 17) 611,307 611,307 18,781,188 4,127,724 11,244,531 21,431,318 55,584,761 IV - Fair values of assets and liabilities in relation to the book value Financial assets and liabilities measured at fair value through profit or loss are recorded in current and non-current assets and liabilities and gains and losses are recorded as financial income and expenses, respectively. The amounts are recorded in the financial statements at their book values, which are substantially similar to those that would be obtained if they were traded on the market. The fair values of other long-term assets and liabilities do not differ significantly from their book values, except for the amounts below. The estimated fair value for certain consolidated long-term borrowings and financing was calculated at current market rates, considering the nature, term and risks similar to those of the registered contracts, as follows: Schedule of Fair values of assets and liabilities in book value 12/31/2022 12/31/2021 Closing Balance Fair value Closing Balance Fair value Fixed Rate Notes 15,656,088 13,782,836 15,617,091 15,700,276 (*) Source: Bloomberg 14.c) Derivative financial instruments portfolio position Swap exchange rate Dollar x Euro The subsidiary Lusosider Produtos Siderúrgicos S.A. has derivative transactions to hedge its dollar exposure against the euro. The operation was settled in 2021. Swap exchange rate CDI x Dollar The Company has derivative transactions to protect its debt in NCE raised in September 2019 with maturity in October 2023 in the amount of US$67 million (equivalent to R$278 million) at a cost compatible with that usually practiced by the Company. Swap exchange rate Real x Dollar The subsidiary CSN Cimentos, after contracting a borrowing in foreign currency of US$ 115,000 Swap exchange rate CDI x IPCA The subsidiaries CSN Mineração and CSN Cimentos issued debentures during 2021 and 2022, respectively, and entered derivative transactions to hedge their exposure to the IPCA. CSN Mineração's contracts have maturities scheduled from 2031 to 2037, while CSN Cimentos' contracts mature in 2032. Below is the position of the derivatives: Schedule of position of the derivatives 12/31/2022 12/31/2021 12/31/2020 Appreciation (R$) Fair value (market) Impact on financial income (expenses) (note 28) Instrument Maturity Functional Currency Notional amount Asset position Liability position Amounts receivable / (payable) Exchange rate swap Exchange rate swap Dollar x Euro Settled Dollar 7,119 (9,672) Exchange rate swap Dollar x Real Settled Dollar 100,000 176,991 37,322 Exchange rate swap CDI x Dollar 10/02/2023 Dollar 67,000 297,020 (355,025) (58,005) 43,817 (9,960) (106,143) Exchange rate swap Real x Dollar 10/6/2027 Dollar 115,000 622,776 (634,243) (11,467) (11,467) Total Swap 282,000 919,796 (989,268) (69,472) 209,341 34,481 (115,815) Interest rate swap Interest rate (Debentures) CDI x IPCA 07/15/2031 Real 576,448 612,994 (649,635) (36,641) (67,471) (17,432) Interest rate (Debentures) CDI x IPCA 07/15/2032 Real 745,000 813,924 (850,497) (36,573) (36,571) Interest rate (Debentures) CDI x IPCA 07/15/2036 Real 423,552 449,550 (492,040) (42,490) (25,057) (17,488) Interest rate (Debentures) CDI x IPCA 07/15/2037 Real 655,382 691,974 (717,553) (25,579) (25,579) Interest rate (Debentures) CDI x IPCA 02/16/2032 Real 600,000 657,792 (666,223) (8,431) (24,089) Interest rate (Debentures) CDI x IPCA 12/2/2032 Real 600,000 658,086 (666,351) (8,265) (79,130) Total interest rate (Debentures) CDI x IPCA 3,600,382 3,884,320 (4,042,299) (157,979) (257,897) (34,920) 4,804,116 (5,031,567) (227,451) (48,556) (439) (115,815) · Classification of derivatives in the balance sheet and income statement Schedule of balance sheet and statement of income 12/31/2022 12/31/2021 12/31/2020 Instruments Liabilities Financial income (expenses), net (note 28) Non-current Total Exchange rate swap (NDF) Dollar x real (settled) 176,991 37,322 Exchange rate swap Dollar x Euro (Settled) 7,119 (9,070) Exchange rate swap GBP x Euro (602) Exchange rate swap CDI x Dollar (58,005) (58,005) 43,817 (9,960) (106,143) Interest rate swap CDI x IPCA (157,979) (157,979) (257,897) (34,920) (227,451) (227,451) (48,556) (439) (115,815) Derivative instruments SWAP CDI x IPCA are fully classified in the borrowings and financing group, since they are linked to debentures in order to protect exposure to the IPCA. 14.d) Investments in securities measured at fair value through profit or loss The Company has common shares (USIM3), preferred shares (USIM5) of Siderúrgica de Minas Gerais S.A. (“Usiminas”) and shares of Panatlântica S.A. (PATI3), which are designated as fair value through profit or loss. Usiminas shares are classified as current assets in financial investments and Panatlântica shares are classified as non-current assets under the investment line item. They are recorded at fair value, based on the market price quote in B3. In accordance with the Company’s policy, the gains and losses arising from the variation in the share price are recorded directly in the income statement as financial result in the case of financial investments, or as other operating income and expenses in the case of long-term investments. Schedule of other operating income and expenses Class of shares 12/31/2022 12/31/2021 12/31/2022 12/31/2021 12/31/2020 Quantity Equity interest (%) Share price Closing Balance Quantity Equity interest (%) Share price Closing Balance Profit or loss (notes 27 and 28) USIM3 106,620,851 15.12 7.41 790,061 106,620,851 15.12 14.51 1,547,069 (757,008) (121,593) 623,652 USIM5 55,144,456 10.07 7.16 394,834 55,144,456 10.07 15.16 835,990 (441,156) 506,890 566,837 1,184,895 2,383,059 (1,198,164) 385,297 1,190,489 PATI3 2,705,726 11.31 35.00 94,700 2,705,726 11.31 70.34 190,321 (95,620) 109,254 12,579 1,279,595 2,573,380 (1,293,784) 494,551 1,203,068 · Stock market price risks The Company is exposed to the risk of changes in the stock price due to the investments measured at fair value through profit or loss that have their quotations based on the market price on the B3. Sensitivity analysis for stock price risks We present below the sensitivity analysis for the stock price risks. The Company considered scenarios 1 and 2 with 25 50 5 The effects on the result, considering probable scenarios, 1 and 2 are demonstrated below: Schedule of sensitivity analysis for stock price risks 12/31/2022 Class of shares Probable scenario Scenario 1 Scenario 2 5% 25% 50% USIM3 (39,503) (197,515) (395,030) USIM5 (19,742) (98,709) (197,417) PATI3 (4,735) (23,675) (47,350) 14.e) Capital management The Company seeks to optimize its capital structure in order to reduce its financial costs and maximize the return to its shareholders. The table below shows the evolution of the Company’s consolidated capital structure, with financing by equity and third-party capital: Schedule of capital management Thousands of reais 12/31/2022 12/31/2021 Shareholder's equity (equity) 21,907,929 23,374,389 Borrowings and Financing (Third-party capital) 40,918,742 32,507,522 Gross Debit/Shareholder's equity 1.87 1.39 Accounting Policy The Company’s financial instruments are classified according to the definition of the business model adopted by the Company and the characteristics of the cash flow, in the case of financial assets. Upon initial recognition, financial assets can be classified into three categories: assets measured at amortization cost, fair value through profit or loss and fair value through other comprehensive income. Financial assets are derecognized when the rights to receive cash flows have expired or have been transferred; in the latter case, provided that the Company has substantially transferred all risks and rewards of ownership. If the company substantially holds all the risks and rewards of ownership of the financial asset, it must continue to recognize the financial asset. Financial liabilities are classified as amortized cost or fair value through profit or loss. Management determines the classification of its financial liabilities upon initial recognition. Financial liabilities are derecognized only when they are extinguished, that is, when the obligation specified in the contract is settled, canceled, or expires. The Company also derecognizes a financial liability when the terms are modified and the cash flows of the modified liability are substantially different, in which case a new financial liability based on the modified terms is recognized at fair value. Financial assets and liabilities are offset and the net amount presented in the balance sheet when there is a legally enforceable right to offset the recognized amounts and there is an intention to settle them on a net basis, or realize the asset and settle the liability simultaneously. Derivative Financial Instruments and Hedging Activities Initially, derivatives are recognized at fair value on the date that a derivative contract is entered and are subsequently measured at fair value with the changes recorded in the income statement in the caption Financial Result in the income statement. Hedge accounting: The Company documents, at the inception of the transaction, the relationships between the hedging instruments and the hedged items (expected exports), as well as the risk management objectives and strategy for undertaking various hedging transactions. In addition, it documents its assessment, both at the hedge's inception and on an ongoing basis, that the hedge transactions are highly effective in offsetting changes in cash flows of hedged items. The effective portion of the changes in the fair value of financial liabilities designated and qualifying as cash flow hedge is recognized in equity, under “Hedge Accounting”. Gains or losses related to the ineffective portion are recognized in other operating expenses/income, when applicable. Gains and losses from cash flow hedge accounting of debt financial instruments and iron ore derivative financial instruments will not immediately affect the Company's result, but only to the extent that exports are realized. The amounts accumulated in equity are realized in the operating result in the periods when the forecast exports affect the result. When a hedge instrument expires or is settled early, or when the hedge relationship no longer meets the criteria for hedge accounting, or w |
LEASE LIABILITIES
LEASE LIABILITIES | 12 Months Ended |
Dec. 31, 2022 | |
Lease liabilities [abstract] | |
LEASE LIABILITIES | 15. LEASE LIABILITIES Lease liabilities are shown below: Schedule of lease liabilities Consolidated 12/31/2022 12/31/2021 Leases 1,916,636 1,790,193 Present value adjustment - Leases (1,222,790) (1,178,642) Leases 693,846 611,551 Classified: Current 177,010 119,047 Non-current 516,836 492,504 Leases 693,846 611,551 The Company has lease agreements for port terminals in Itaguaí, the Solid Bulk Terminal - TECAR, used for loading and unloading iron ores and others and the Container Terminal - TECON, with remaining terms of 25 and 29 years, respectively, and lease agreement for railway operation using the Northeast network with a remaining term of 7 years. Additionally, the Company has operating equipment lease agreements, used mainly in the mining and steel operations, and real estate, used as operating facilities and administrative and sales offices, in several locations where the Company operates, with remaining terms of 1 13 The present value of the future obligations was measured using the implicit rate observed in the contracts and for the contracts that did not have a rate, the Company applied the incremental borrowing rate - IBR, both in nominal terms. The average incremental rate used in measuring lease and right-of-use liabilities in the agreements entered into during the year ended December 31, 2022 ranges from 14.00 18.02 The movement of lease liabilities is shown in the table below: Schedule of movement of lease liabilities Consolidated 12/31/2022 12/31/2021 Opening balance 611,551 530,131 New leases 29,633 69,379 Present Value Adjustments - New leases (3,300) (7,273) Contract review 99,419 109,860 Write-off (781) (38,626) Payments (155,995) (114,303) Interest appropriated 69,510 62,470 Acquisition of companies 45,352 Exchange variation (1,543) (87) Net balance 693,846 611,551 The estimated future minimum payments for the lease agreements include determinable variable payments, which are certain to occur, based on minimum performance and contractually fixed rates. As of December 31, 2022, the expected minimum payments are the following: Schedule of expected minimum payments Consolidated Less than one year Between one and five years Over five years Total Leases 183,928 419,882 1,312,826 1,916,636 Present value adjustment - Leases (6,918) (124,826) (1,091,046) (1,222,790) Total lease liabilities 177,010 295,056 221,780 693,846 · Recoverable PIS / COFINS Lease liabilities were measured at the amount of consideration with suppliers, that is, without considering the tax credits incurred after payment. The potential right of PIS and COFINS embedded in the lease liability is shown below. Schedule of recoverable pis confins Consolidated 12/31/2022 12/31/2021 Leases 1,835,101 1,777,209 Present value adjustment - Leases (1,221,378) (1,177,668) Potencial PIS and COFINS credit 169,747 164,392 Present value adjustment – Potential PIS and COFINS credit (112,977) (108,934) · Lease payments not recognized as a liability: The Company chose not to recognize lease liabilities in contracts with a term of less than 12 months and for low value assets. Payments made for these contracts are recognized as expenses when incurred. The Company has contracts for the right to use ports (TECAR) and railways (FTL) which, even if they establish minimum performance, it is not possible to determine its cash flow since these payments are fully variable and will only be known when they occur. In such cases, payments will be recognized as expenses when incurred. The expenses related to payments not included in the measurement of the lease liability during the year are: Schedule of measurement of the lease liability Consolidated 12/31/2022 12/31/2021 12/31/2020 Contract less than 12 months 995 339 549 Lower Assets value 5,859 4,975 9,563 Variable lease payments 325,913 498,529 270,449 Total 332,767 503,843 280,561 Accounting Policy When entering into a contract, the Company assesses whether the contract is, or contains, a lease. The lease is characterized by a lease or transfer of the right to use for a fixed period in exchange for monthly payments. The leased asset must be clearly specified. The Company determines in the initial recognition, the lease term or non-cancellable term, which will be used in the measurement of the right-of-use assets and the lease liability. The lease term will be reevaluated by the Company when a significant event or significant change occurs in the circumstances that are under the control of the lessee and affects the non-cancellable term. The Company adopts exemption from recognition, as provided for in the standard, for the lessee of contracts with terms of less than 12 (twelve) months, or whose underlying asset object of the contract is of low value. At inception, the Company recognizes the right to use the asset and the lease liability at present value. The right-of-use asset should be measured at cost. The cost includes the lease liability, upfront costs, advance payments, and estimated costs to disassemble, remove or restore. The lease liability is measured at the present value of the lease payments expected to be made during the life of the agreement, discounted at the implicit interest rate of the lease or, if the rate is not determinable, an incremental rate will be used to determine the present value. For contracts that the Company determines the business rate, it is understood that this rate is the rate implied in nominal terms and to which it is applied in discounting the flow of future payments. In contracts with no rate definition, the Company applied the incremental loan rate, obtaining it through consultations with banks where it has a relationship, adjusted for the inflation forecast for the coming years. For the subsequent measurement, the cost method to the right-of-use asset is used and, in depreciation the requirements of IAS 16 – Property, Plant and Equipment are applied. However, for the purpose of depreciation, the Company determines the use of the straight-line method based on the remaining useful life of the assets or the term of the contract, whichever is the shorter. The effects of PIS and COFINS recoverable generated after the effective payment of the obligations will be recorded as a reduction of the depreciation expenses of the right of use and of the financial expenses recognized monthly. The IAS 36 - Impairment of Assets will also be applied in order to determine whether the right-of-use asset is impaired and to account for any impairment loss identified. In accordance with the guidelines of IFRS 16, the Company used the discounted cash flow technique to measure and remeasure liabilities, without considering the projected inflation in the flows to be discounted. |
TRADE PAYABLES
TRADE PAYABLES | 12 Months Ended |
Dec. 31, 2022 | |
Trade Payables | |
TRADE PAYABLES | 16. TRADE PAYABLES Schedule of trade payables Consolidated 12/31/2022 12/31/2021 Trade payables 6,723,077 6,657,702 (-) Adjustment present value (79,893) (112,078) 6,643,184 6,545,624 Classified: Current 6,596,915 6,446,999 Non-current 46,269 98,625 6,643,184 6,545,624 The Company classifies drawee risk operations and forfaiting with suppliers in other liabilities as per note 17 – other payables. As of December 31, 2022, The Company had, a balance of R$ 5,709,069 4,439,967 Accounting Policy They are initially recognized at fair value, and subsequently measured at amortized cost, using the effective interest rate method and adjusted to present value when applicable, based on the estimated rate of the Company's cost of capital. |
OTHER PAYABLES
OTHER PAYABLES | 12 Months Ended |
Dec. 31, 2022 | |
Other Payables | |
OTHER PAYABLES | 17. OTHER PAYABLES The other payables classified in current and non-current liabilities are comprised as follows: Schedule of other payables Consolidated Current Non-current 12/31/2022 12/31/2021 12/31/2022 12/31/2021 Payables to related parties (note 22 a) 109,087 50,624 53,356 66,607 Derivative financial instruments (note 14 a) 416,935 69,472 101,822 Dividends and interest on capital 611,307 1,206,870 Advances from customers (1) 1,120,072 2,140,783 943,919 947,896 Taxes in installments (note 19) 280,721 51,999 184,106 152,420 Profit sharing - employees 266,705 223,885 Taxes payable 10,925 10,378 Provision for consumption and services 241,965 216,692 Third party materials in our possession 303,858 418,084 Trade payables - Drawee Risk and forfaiting (note 16) 5,709,069 4,439,967 Trade payables (note 16) 46,269 98,625 Lease Liabilities (note 15) 177,010 119,047 516,836 492,504 Other payables 81,922 36,703 391,535 77,912 9,318,651 8,904,654 2,216,418 1,948,164 (1) Advances from Customers |
INCOME TAX AND SOCIAL CONTRIBUT
INCOME TAX AND SOCIAL CONTRIBUTION | 12 Months Ended |
Dec. 31, 2022 | |
Income Tax And Social Contribution | |
INCOME TAX AND SOCIAL CONTRIBUTION | 18. INCOME TAX AND SOCIAL CONTRIBUTION 18.a) Income tax and social contribution recognized in profit or loss: The income tax and social contribution recognized in net income for the year are as follows: Schedule of income tax and social contribution income (expense) Consolidated 12/31/2022 12/31/2021 12/31/2020 Income tax and social contribution income (expense) Current (1,537,966) (4,240,802) (2,052,204) Deferred (420,773) (759,355) 1,426,696 Total (1,958,739) (5,000,157) (625,508) The reconciliation of the Company's income tax and social contribution expenses and income and the of the effective tax rate on income before IRPJ and CSLL are shown below: Schedule of reconciliation of income tax and social contribution income (expense) Consolidated 12/31/2022 12/31/2021 12/31/2020 Profit before income tax and social contribution 4,126,437 18,595,778 4,918,126 Tax rate 34 34 34 Income tax and social contribution at combined statutory rate (1,402,989) (6,322,565) (1,672,163) Adjustment to reflect the effective rate: Equity in results of affiliated companies 155,125 71,833 28,391 Difference Tax Rate in companies abroad (338,278) (437,567) (519,840) Transfer Price Adjustment and Profits Abroad (195,112) (55,821) (15,645) Tax loss carryforwards without recognizing deferred taxes (27,758) Indebtdness limit (25,087) Unrecorded deferred taxes on temporary differences 5,142 Income taxes and social contribution on foreign profit (13,011) Tax incentives 50,333 273,040 64,818 Interest on equity 290,968 185,325 17,177 Recognition/(reversal) of tax credits (562,014) 1,027,252 1,540,087 Other permanent exclusions (additions) (i) 43,228 258,346 (7,619) Income tax and social contribution in net income for the year (1,958,739) (5,000,157) (625,508) Effective tax rate 47 27 13 (i) In 2021 the Company recognized a credit for the unconstitutionality of the levy of IRPJ and CSLL on amounts referring to the SELIC rate received due to the repetition of undue tax payment. 18.b) Deferred income tax and social contribution: Deferred income tax and social contribution balances are as follows: Schedule of deferred income tax and social contribution Consolidated 12/31/2022 12/31/2021 12/31/2020 Deferred Income tax losses 2,679,028 1,537,623 1,848,999 Social contribution tax losses 894,183 583,845 688,208 Temporary differences 1,305,557 2,447,543 718,903 Tax, social security, labor, civil and environmental provisions 584,834 265,328 279,149 Estimated losses on assets 369,826 283,266 161,016 Gains/(Losses) on financial assets 468,813 6,484 5,027 Actuarial Liabilities (Pension and Health Plan) 226,875 210,009 262,457 Provision for consumption and services 205,880 163,620 154,452 Cash Flow Hedge Accounting and Unrealized Exchange Variations 1,459,012 2,985,859 4,487,710 (Gain) on loss of control of Transnordestina (224,096) (92,180) (92,180) Fair Value SWT/CBL Acquisition (149,489) (178,160) (212,015) Business combination (1,632,370) (1,338,674) (1,015,049) Others (3,728) 141,991 (53,685) Total 4,878,768 4,569,011 3,256,110 Total Deferred Assets 5,095,718 5,072,092 3,874,946 Total Deferred Liabilities (216,950) (503,081) (618,836) Total Deferred 4,878,768 4,569,011 3,256,110 The Company has in its corporate structure subsidiaries abroad, whose income is taxed by the income tax in the respective countries where they were constituted at rates lower than those in force in Brazil. In the period between 2018 and 2022, these subsidiaries generated income in the amount of R$ 471,514 160,315 In addition, management evaluated the precepts of IFRIC 23 - “Uncertainty Over Income Tax Treatments” and recognized in 2021 the credit for the unconstitutionality of the levy of the IRPJ and CSLL on the amounts of default interest referring to the SELIC rate received due to the repetition of tax undue payment. A sensitivity analysis of consumption of tax credits was carried out considering a variation in macroeconomic assumptions, operating performance, and liquidity events. Thus, considering the results of the study carried out, which indicates that it is probable the existence of taxable income to use the balance of deferred income tax and social contribution. The estimate of recovery of the deferred tax assets of IRPJ and CSLL are presented net when they refer to a single jurisdiction, as shown in the table below: Schedule of estimated recovery of deferred tax assets Consolidated 2023 825,267 2024 704,944 2025 601,980 2026 722,660 2027 e demais 3,203,872 Deferred asset 6,058,723 Deferred liabilities - Parent Company (963,005) Net deferred asset 5,095,718 Deferred liabilities - subsidiaries (216,950) Net deferred asset 4,878,768 18.c) Changes in deferred income tax and social contribution The changes in deferred taxes is shown below: Schedule of changes in deferred income tax and social contribution Consolidated Balance at December 31, 2019 1,883,765 Recognized in the result 1,426,696 Recognized in other comprehensive income (59,380) Acquisition of companies 5,029 Balance at December 31, 2020 3,256,110 Recognized in the result (759,355) Recognized in other comprehensive income 2,073,437 Acquisition of companies (1,181) Balance at December 31, 2021 4,569,011 Recognized in the result (420,773) Recognized in other comprehensive income (322,876) Acquisition of companies 1,053,406 Balance at December 31, 2022 4,878,768 18.d) Income tax and social contribution recognized in equity: The income tax and social contribution recognized directly in equity are shown below: Schedule of income tax and social contribution recognized in shareholders' equity Consolidated 12/31/2022 12/31/2021 Income tax and social contribution Actuarial gains on defined benefit pension plan 100,139 104,533 Exchange differences on translating foreign operations (325,350) (325,350) Cash flow hedge accounting 1,571,953 1,959,556 2,693,484 1,738,739 Accounting Policy Current income tax and social contribution are calculated based on the tax laws enacted by the end of the reporting period, including in the countries where the Group entities operate and generate taxable income. Management periodically assesses the positions taken in the tax calculations with respect to situations where applicable tax regulations are open to interpretations. The Group recognizes provisions where appropriate, based on the estimated payments to tax authorities. The income tax and social contribution expense comprises current and deferred taxes. Current and deferred taxes are recognized in profit or loss unless they are related to business combinations or items recognized directly in equity. Current tax expense is the expected payment of taxable income for the year, using the nominal rate approved or substantially approved on the balance sheet date, and any adjustment of taxes payable related to previous years. Current income tax and social contribution are posted net in liabilities whenever there are amounts payable, or in assets whenever such amounts paid in advance exceed the total amount due at the reporting date. Deferred tax is recognized in relation to temporary differences between the tax bases of assets and liabilities and their book values in the financial statements. Deferred tax is not recognized for temporary differences arising from the initial recognition of assets and liabilities in a transaction that is not a business combination, that does not affect nor accounting profit nor tax profit or loss, differences related to investments in subsidiaries and controlled entities when it is probable that they will not revert in a foreseeable future and from the initial recognition of goodwill, in accordance with IAS 12 - Income Taxes. The amount of the deferred tax determined is based on the expectation of realization or settlement of the temporary difference and uses the nominal rate approved or substantially approved. Deferred income tax assets and liabilities are presented net in the balance sheet whenever there is a legal right and the intention to offset them upon the calculation of current taxes, usually related to the same legal entity and the same taxation authority. Deferred income tax and social contribution assets are recognized on recoverable balances of tax loss and negative basis of CSLL, tax credits and deductible temporary differences. Such assets are reviewed at each year-end date and will be reduced to the extent that their realization is less likely to occur. |
TAXES IN INSTALLMENTS
TAXES IN INSTALLMENTS | 12 Months Ended |
Dec. 31, 2022 | |
Taxes In Installments | |
TAXES IN INSTALLMENTS | 19. TAXES IN INSTALLMENTS The position of REFIS debts and other installments, recorded in taxes in installments in current and non-current liabilities, as shown in note 17, are shown below: Schedule of taxes in installments Consolidated 12/31/2022 12/31/2021 Federal REFIS Law 11.941/09 17,585 18,499 Federal REFIS Law 12.865/13 39,522 43,352 Other taxes in installments 407,720 142,568 464,827 204,419 Classified: Current 280,721 51,999 Non-current 184,106 152,420 464,827 204,419 Refers to the balance arising from the adhesion to the REFIS related to the refinancing programs of Law 11,941/09, Law 12,865/13 and the installment that allows the taxpayer to pay the debts registered in overdue debt of the Federal Government with benefits, reduced down payment and extended payment term. The installments are paid in monthly installments, with interest at the SELIC rate. |
PROVISIONS FOR TAX, SOCIAL SECU
PROVISIONS FOR TAX, SOCIAL SECURITY, LABOR, CIVIL AND ENVIRONMENTAL RISKS AND JUDICIAL DEPOSITS | 12 Months Ended |
Dec. 31, 2022 | |
Provisions For Tax Social Security Labor Civil And Environmental Risks And Judicial Deposits | |
PROVISIONS FOR TAX, SOCIAL SECURITY, LABOR, CIVIL AND ENVIRONMENTAL RISKS AND JUDICIAL DEPOSITS | 20. PROVISIONS FOR TAX, SOCIAL SECURITY, LABOR, CIVIL AND ENVIRONMENTAL RISKS AND JUDICIAL DEPOSITS Claims of different nature are being challenged at the appropriate courts. Details of the accrued amounts and related judicial deposits are as follows: Schedule of accrued amounts and judicial deposits Consolidated Accrued liabilities Judicial deposits 12/31/2022 12/31/2021 12/31/2022 12/31/2021 Tax 219,196 111,572 184,687 78,260 Social security 1,567 1,270 Labor 375,416 304,744 297,507 218,200 Civil 851,305 139,824 25,502 17,869 Environmental 37,341 16,942 2,859 2,739 Deposit of a guarantee 23,109 22,737 1,484,825 574,352 533,664 339,805 Classified: Current 73,089 66,047 Non-current 1,411,736 508,305 533,664 339,805 1,484,825 574,352 533,664 339,805 There has been an increase in probable contingencies due to the incorporation of the assets of the companies acquired in 2022. The balances refer to BRL 511,948 321,028 The changes in tax, social security, labor, civil and environmental provisions in the year ended December 31, 2022 can be summarized as follows: Schedule of changes in the provision for tax, social security, labor, civil and environmental risks Consolidated Current + Non-current Nature 12/31/2021 Additions Accrued charges Consolidation of companies Net utilization of reversal 12/31/2022 Tax 111,572 74,097 10,595 30,035 (7,103) 219,196 Social security 1,270 1,093 19 (815) 1,567 Labor 304,744 36,203 36,852 89,101 (91,484) 375,416 Civil 139,824 27,668 21,406 702,720 (40,313) 851,305 Environmental 16,942 22,319 1,120 (3,040) 37,341 574,352 161,380 69,992 821,856 (142,755) 1,484,825 The provision for tax, social security, labor, civil and environmental risks was estimated by Management and is mainly based on the legal advisors’ assessment. Only lawsuits for which the risk is classified as probable loss are provisioned. Additionally, tax liabilities from actions initiated by the Company is included in this provision and is subject to SELIC (Central Bank’s policy rate). Tax proceedings The main lawsuits that are considered by the external legal advisors as probable loss, to which CSN or its subsidiaries are parties, are (i) some ISS tax assessment notices; (ii) divergences between calculated and paid ICMS; (iii) Requests for offsetting not approved due to lack of credit rights. Labor proceedings The Group appears as a defendant in labor claims. The majority of claims for actions are related to subsidiary and/or joint liability, equal pay, unhealthy and hazardous work premiums, overtime, health insurance, indemnity claims arising from alleged involvement of occupational diseases or accidents at work, intra-day break and differences in profit sharing in the years 1997 to 1999 and 2000 to 2003. During the year ended December 31, 2022, there were addition or write-off movements in labor lawsuits arising from the definite conclusion and the constant revision of the Company's accounting estimates related to the provision for contingencies that take into consideration the different nature of the claims made, as required by the Company's accounting policies. Civil proceedings Among the civil lawsuits in which it is a defendant, there are mainly suits for damages. Such processes, in general, result from work accidents, occupational diseases, contractual discussions, related to the Group's industrial activities, real estate actions, health insurance. Environmental proceedings The main environmental lawsuits that are considered by the external legal advisors to be probable losses, to which CSN or its subsidiaries are a party, are (i) administrative infraction notices, for alleged environmental violations; (ii) judicial annulment actions and tax foreclosures, arising from environmental fines; (iii) procedural fines for alleged non-compliance with court orders. Among the environmental administrative/judicial proceedings in which the Company is a defendant, there are administrative procedures aimed at finding possible occurrences of environmental irregularities and regularizing environmental licenses; at the judicial level, there are actions for the enforcement of fines imposed as a result of such alleged irregularities and public civil actions with a request for regularization combined with indemnities, which consist of environmental recomposition, in most cases. Such processes, in general, result from discussions of alleged impact to the environment related to the Company's industrial activities. § Administrative and judicial proceedings The Company does not make provisions for lawsuits, which Management’s expectations, based on the opinion of legal counsel, is a possible loss. The following table shows a summary of the balance of the main matters classified as possible risk compared to the balance as of December 31, 2022 and 2021. Schedule of legal matters with possible risk of loss Consolidated 12/31/2022 12/31/2021 Assessment Notice and imposition of fine (AIIM) / Tax Enforcement - Income tax and social contribution - Capital gain on sale of NAMISA's shares 14,174,838 13,015,938 Assessment Notice and Imposition of fine (AIIM) / Tax Enforcement - Income tax and Social contribution - Disallowance of deductions of goodwill generated in the reverse incorporation of Big Jump by NAMISA. 4,920,177 4,242,051 Assessment Notice and Imposition of fine (AIIM) / Tax Enforcement - Income tax and Social contribution - Disallowance of interest on prepayment arising from supply contracts of iron ore and port services 2,388,423 2,017,602 Assessment Notice and imposition of fine (AIIM) - Income tax and social contribution due to profits from foreign subsidiaries for years 2008, 2010, 2011, 2012, 2014, 2015 and 2016. 4,104,626 4,137,519 Assessment Notice and Imposition of fine (AIIM) - IRPJ/CSLL - Disallowance of deductions of goodwill generated in the acquisition of Cimentos Mauá (1) 715,152 ICMS - SEFAZ/RJ - Electricity Credits 950,469 867,521 Offset of taxes that were not approved by the Federal Revenue Service - IRPJ/CSLL, PIS/COFINS and IPI 2,138,608 1,660,888 ICMS - SEFAZ/RJ - Disallowance of the ICMS credits - Transfer of iron ore 666,816 614,528 ICMS - Refers to the transfer of imported raw material at an amount lower than the price disclosed in the import documentation 357,006 326,361 Disallowance of the tax loss and negative basis of social contribution arising from the adjustments in the SAPLI 663,594 600,895 Assessment Notice and imposition of fine (AIIM)/ Action for annulment - IRRF- Capital Gain of CFM vendors located abroad 289,406 266,649 CFEM – difference of understanding between CSN and ANM on the calculation basis 1,143,275 1,079,951 ICMS - SEFAZ/RJ - Assessment Notice - questions about sales for incentive area 1,255,251 1,142,386 Other tax lawsuits (federal, state, and municipal) (1) 5,579,232 3,877,976 Assessment Notice and imposition of fine (AIIM) - Charge of IRRF- RFB - Business Combinations of CSN Mineração held in 2015. 986,196 889,179 ICMS - SEFAZ/RJ - Disallowance of credits on acquisitions of Intermediate Products 623,748 562,307 Assessment Notice and imposition of fine (AIIM) - RFB - Disallowance of credits PIS/COFINS of inputs and freight 1,238,018 1,116,228 Social security lawsuits 187,338 214,323 Action to discuss the balance of the construction contract – Tebas 560,638 507,719 Action related to power supply payment’s charge - Light 386,834 324,371 Action that discusses Negotiation of energy sales - COPEN - CEEE-G (1) 193,469 Collection of defaulted amounts of contracts for the execution of the Presidente Médici Thermoelectric Power Plant - SACE - CEEE-G (1) 192,212 Enforcement action applied by Brazilian antitrust authorities (CADE) 109,206 98,740 Civil Public Action - Districts / School / Nursery relocation-CdP Dam 14,876 Other civil lawsuits (1) 1,168,591 845,043 Labor and social security lawsuits (1) 1,726,517 1,536,967 Tax foreclosures – Fine – Volta Redonda IV 122,639 104,400 ACP landfill Márcia 306,389 306,389 Other environmental lawsuits (1) 539,410 424,143 47,688,078 40,794,950 (1) After the acquisitions of CSN Cimentos Brasil (formerly LafargeHolcim (Brasil) S.A.), Companhia Estadual de Geração de Energia Elétrica (CEEE-G), Companhia Energética Chapecó and Metalgráfica Iguaçu S.A. these line items were impacted by the existing legal cases of each entity. In the first quarter of 2021, the Group was notified of an arbitration proceeding based on an alleged unfulfillment of iron ore supply contracts. The counterparty asks for approximately US$1 billion, and the Company has no knowledge of the basis for the estimates of the amount asked. As opposed, the Company understands to be a creditor in the contracts. Finally, the Company informs that has responded the arbitration requirements in conjunction with its legal counselors and is currently at the initial stage of its defense. The Company expects the arbitration will be concluded in 2 to 3 years. The relevance of the arbitration to the Company is related to the amount attributed to the cause and its eventual financial impact. The discussion involves arbitration disputes initiated by both parties. The Company has been offering judicial guarantees (Guarantee Insurance/Letter of Guarantee) in the total amount updated to December 31, 2022 of R$ 4,939,419 4,732,009 The assessments made by legal advisors define these administrative and judicial proceedings as a possible risk of loss and, consequently, no loss provisions have been recognized in accordance with Management's judgment and with IFRS. Accounting Policy Only provisions estimated as probable risk of loss are recorded, substantiated in the assessment of our legal advisors, and at amounts that will be required to settle the litigations. The obligation is updated in accordance with the evolution of the lawsuit or financial charges incurred and may be reversed if the estimated loss is no longer considered probable due to changes in circumstances or derecognized when the obligation is settled. |
PROVISION FOR ENVIRONMENTAL LIA
PROVISION FOR ENVIRONMENTAL LIABILITIES AND ASSET RETIREMENT OBLIGATIONS | 12 Months Ended |
Dec. 31, 2022 | |
Provision For Environmental Liabilities And Asset Retirement Obligations | |
PROVISION FOR ENVIRONMENTAL LIABILITIES AND ASSET RETIREMENT OBLIGATIONS | 21. PROVISION FOR ENVIRONMENTAL LIABILITIES AND ASSET RETIREMENT OBLIGATIONS The balance of provisions for environmental liabilities and asset retirement obligation is as follows: Schedule of provisions for environmental liabilities and asset retirement obligation Consolidated 12/31/2022 12/31/2021 Environmental liabilities 172,574 173,647 Asset retirement obligations 765,083 724,950 937,657 898,597 Accounting Policy The Company recognizes a provision for recovery costs when a loss is probable and the amounts of the related costs are reasonably determined. Generally, the provisioning period for the amount to be used for recovery coincides with the completion of a feasibility study or commitment to a formal action plan. Expenses related to compliance with environmental regulations are charged to income or capitalized, as appropriate. Capitalization is considered appropriate when expenses refer to items that will continue to benefit the Company and that are basically relevant to the acquisition and installation of equipment for pollution control and/or prevention. Asset retirement obligations (ARO) consist of cost estimates for decommissioning, demobilization, or restoration of areas at the end of mining activities and extraction of mineral resources. The initial measurement is recognized as a liability discounted to present value and, subsequently, carried to expenses over time. The asset decommissioning cost equivalent to the initial liability is capitalized as part of the asset's carrying amount and is depreciated over the asset's useful life. |
RELATED-PARTY BALANCES AND TRAN
RELATED-PARTY BALANCES AND TRANSACTIONS | 12 Months Ended |
Dec. 31, 2022 | |
Related-party Balances And Transactions | |
RELATED-PARTY BALANCES AND TRANSACTIONS | 22. RELATED-PARTY BALANCES AND TRANSACTIONS 22.a) Transactions with holding companies Vicunha Aços S.A. is the Company’s controlling shareholder, with a 51.24% interest in its voting capital. Rio Iaco Participações S.A. also controls the Company, with a 3.45% interest in CSN’s voting capital. The corporate structure of Vicunha Aços S.A. is as follows: (a) Vicunha Steel S.A. – holds a 67.93% interest in Vicunha Aços S.A. (b) CFL Participações S.A. – holds a 12.82% interest in Vicunha Aços S.A. and a 40% interest in Vicunha Steel S.A. (c) Rio Purus Participações S.A. – holds a 19.25% interest in Vicunha Aços S.A. and a 60% interest in Vicunha Steel S.A. · Liabilities At a meeting held on December 23, 2022, the Board of Directors approved the payment of interest on equity, considering the rate of 15 0.44868615934 304,892 20,508 22.b) Transactions with subsidiaries, jointly controlled entities, associates, exclusive funds and other related parties Schedule of transactions with subsidiaries, jointly controlled entities, associates, exclusive funds and other related parties Consolidated 12/31/2022 12/31/2021 Subsidiaries and associates Joint-ventures and Joint Operation Other related parties Total Subsidiaries and associates Joint-ventures and Joint Operation Other related parties Total Assets Current Assets Investments (1) 1,768,915 1,768,915 2,579,990 2,579,990 Trade receivables (note 6) (2) 48,236 1,182 59,716 109,134 8,159 1,667 134,570 144,396 Dividends receivable (note 9) (3) 77,377 77,377 61,898 14,980 76,878 Loans (note 9) (4) 5,383 5,383 4,511 4,511 Other receivables (note 9) 30 1,828 1,858 1,828 1,828 48,266 83,942 1,830,459 1,962,667 8,159 68,076 2,731,368 2,807,603 Non-current Assets Investments (1) 140,510 140,510 132,523 132,523 Loans (note 9) (4) 3,678 1,381,095 1,384,773 3,626 1,139,602 1,143,228 Actuarial asset (note 9) 35,477 35,477 59,111 59,111 Other receivables (note 9) (5) 1,484,759 1,484,759 927,077 927,077 3,678 2,865,854 175,987 3,045,519 3,626 2,066,679 191,634 2,261,939 51,944 2,949,796 2,006,446 5,008,186 11,785 2,134,755 2,923,002 5,069,542 Liabilities Current Liabilities Trade payables 93,115 37,448 130,563 21 62,730 14,712 77,463 Accounts payable 23,555 24,134 47,689 28,442 28,442 Provision for consumption 61,398 61,398 22,182 22,182 178,068 61,582 239,650 21 113,354 14,712 128,087 Non-current Liabilities Accounts payable 53,356 53,356 66,606 66,606 53,356 53,356 66,606 66,606 231,424 61,582 293,006 21 179,960 14,712 194,693 Schedule of transactions with subsidiaries, joint ventures, associates, exclusive funds and other related parties, by transaction - statement of income Consolidated 12/31/2022 12/31/2021 Subsidiaries and associates Joint-ventures and Joint Operation Other related parties Total Subsidiaries and associates Joint-ventures and Joint Operation Other related parties Total P&L Sales 234,150 34,924 2,442,586 2,711,660 274,978 2,250 3,244,017 3,521,245 Cost and expenses (66) (1,538,194) (216,110) (1,754,370) (1,065) (1,273,740) (119,500) (1,394,305) Financial income (expenses) Interest (note 28) 144,355 29,828 174,183 251 49,293 32,246 81,790 Exchange rate variations and monetary, net (13,584) (13,584) Financial investments (1) (1,198,164) (1,198,164) 94,866 94,866 234,084 (1,358,915) 1,044,556 (80,275) 274,164 (1,222,197) 3,251,629 2,303,596 Consolidated Information: (1) Financial investments: (2) Accounts receivables: (3) Dividends receivable 59,469 320,945 14,785 56,344 (4) Loans (Assets): Long term 1,384,773 1,123,375 125.0 130.0 (5) Others (Assets): 1,484,759 927,076 22.c) Other unconsolidated related parties · CBS Previdência The Company is its main sponsor, being a not-for-profit civil society established in July 1960 and whose main objective is the payment of benefits complementary to those of the official social security for the participants. As a sponsor, it maintains transactions for payment of contributions and recognition of actuarial liabilities determined in defined benefit plans. · Banco Fibra Banco Fibra is under the control structure of Vicunha Aços S.A., the major shareholder of the Company and the financial transactions carried out with this bank are limited to movements in checking accounts and financial investments in fixed-income securities. · CSN Foundation The Company develops socially responsible policies concentrated today in the CSN Foundation, of which it is the founder. Transactions between the parties are related to operational and financial support for the Foundation to conduct social projects developed mainly in the locations where it operates. · Related Parties under the control of a member of the Company’s Management The following companies are under the control of a member of the Management, which maintain some minor transactions with the Company: · Partifib Projetos Imobiliários Ltda; · Vicunha Imóveis Ltda; · Vicunha Serviços Ltda; · Ibis Participações e Serviços Ltda; · Party Negócios e Participações Ltda; · Jockey Club de São Paulo; · Fibra Sequoia Guarulhos Empreendimentos. 22.d) Key management personnel The key management personnel with authority and responsibility for planning, directing, and controlling the Company’s activities include members of the Board of Directors and statutory officers. The following is information on the compensation of such personnel and the related balances as of December 31, 2022 and 2021. Schedule of key management personnel 12/31/2022 12/31/2021 12/31/2020 P&L Short-term benefits for employees and officers 52,001 46,747 40,522 Post-employment benefits 266 192 111 52,267 46,939 40,633 22.e) Guarantees The Company is liable for guarantees of its subsidiaries and jointly controlled entities as follows: Schedule of guarantees Currency Maturities Borrowings Tax foreclosure Others Total 12/31/2022 12/31/2021 12/31/2022 12/31/2021 12/31/2022 12/31/2021 12/31/2022 12/31/2021 Transnordestina Logísitca R$ Up to 09/19/2056 and Indefinite 2,096,291 2,486,926 9,365 12,627 3,853 3,384 2,109,509 2,502,937 Controladas do Grupo R$ Up to 12/21/2024 and indefinite 771 197 197 2,163 2,754 2,360 3,722 CSN Mineração R$ Up to 12/21/2024 540,946 846,284 540,946 846,284 Total in R$ 2,637,237 3,333,981 9,562 12,824 6,016 6,138 2,652,815 3,352,943 CSN Inova Ventures US$ 01/28/2028 1,300,000 1,300,000 1,300,000 1,300,000 CSN Resources US$ Up to 04/17/2026 1,150,000 1,450,000 1,150,000 1,450,000 CSN Cimentos US$ Indefinite 115,000 1,025,000 115,000 1,025,000 Total in US$ 2,565,000 2,750,000 1,025,000 2,565,000 3,775,000 Lusosider Aços Planos EUR Indefinite 75,000 75,000 75,000 75,000 Total in EUR 75,000 75,000 75,000 75,000 Total in R$ 13,867,929 15,346,375 396,780 479,795 14,264,709 21,540,463 16,505,166 18,680,356 9,562 12,824 402,796 485,933 16,917,524 24,893,406 Accounting Policy Transactions with related parties were carried out by the Company on terms equivalent to those prevailing in market transactions, observing the price and the usual market conditions. Therefore, these transactions are in conditions that are no less favorable for the Company than those negotiated with third-parties. Transactions between the related parties are eliminated and adjusted to ensure consistency with the practices adopted by The Company. The Company’s related parties are subsidiaries, joint ventures, affiliates, shareholders and their related companies and the key personnel of the Company’s management. |
SHAREHOLDERS_ EQUITY
SHAREHOLDERS’ EQUITY | 12 Months Ended |
Dec. 31, 2022 | |
Shareholders Equity | |
SHAREHOLDERS’ EQUITY | 23. SHAREHOLDERS’ EQUITY 23.a) Paid-in capital The fully subscribed and paid-in capital as of December 31, 2022 is R$ 10,240,000 1,326,093,947 10,240,000 1,387,524,047 23.b) Authorized capital The Company’s bylaws in effect on December 31, 2022 define that the share capital may be increased to up to 2,400,000,000 23.c) Legal reserve It is constituted at the rate of 5 20 23.d) Ownership structure As of December 31, 2022 and 2021, the Company’s ownership structure was as follows: Schedule of ownership structure 12/31/2022 12/31/2021 Number of common shares % of total shares % of voting capital Number of common shares % of total shares % of voting capital Vicunha Aços S.A. (*) 679,522,254 51.24 51.24 679,522,254 48.97 50.65 Rio Iaco Participações S.A. (*) 45,706,242 3.45 3.45 45,706,242 3.29 3.41 NYSE (ADRs) 254,520,040 19.19 19.19 250,564,538 18.06 18.67 Other shareholders 346,345,411 26.12 26.12 365,941,013 26.38 27.27 Outstanding shares 1,326,093,947 100.00 100.00 1,341,734,047 96.70 100.00 Treasury shares 45,790,000 3.30 Total shares 1,326,093,947 100.00 1,387,524,047 100.00 (*) Controlling group companies. 23.e) Treasury shares As of December 31, 2022, the position of treasury shares was as follows: Schedule of treasury shares Program Board’s Authorization Authorized quantity Program period Average buyback price Minimum and maximum buyback price Number bought back Share cancelation Sale of shares Balance in treasury 04/20/2018 30,391,000 From 4/20/2018 to 4/30/2018 Not applicable Not applicable 22,981,500 7,409,500 1º 06/21/2021 24,154,500 From 06/22/2021 to 12/22/2021 R$ 21.82 R$ 20,06 23,22 24,082,000 31,491,500 2º 6/12/2021 30,000,000 From 12/07/2021 to 6/30/2022 R$ 25.00 R$ 17,20 26,76 29,938,600 61,430,100 05/18/2022 Not applicable Not applicable 61,430,100 3º 05/18/2022 58,000,000 From 05/19/2022 to 05/18/2023 At a Board of Directors Meeting held on May 18, 2022, the Company approved (i) the closing of the share repurchase program, (ii) cancellation of 61,430,100 which is now represented by 1,326,093,947 23.f) Earnings per share The earnings per share are shown below: Schedule of earning per share 12/31/2022 12/31/2021 12/31/2020 Common Shares Profit for the year 1,554,060 12,258,628 3,794,295 Weighted average number of shares 1,327,028,614 1,376,362,149 1,380,114,547 Basic and diluted earnings per share 1.17108 8.90654 2.74926 Accounting Policy Share capital Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction from the amount raised, net of taxes. Earnings (loss) per share Basic earnings (loss) per share is calculated using the net income (loss) for the year attributable to the Company’s controlling shareholders and the weighted average number of outstanding common shares in the respective period. Diluted earnings (loss) per share is calculated using the aforementioned average of outstanding shares, adjusted by instruments potentially convertible into shares, with a dilutive effect, in the periods presented. The Company does not have potential instruments convertible into shares and, consequently, the diluted and basic earnings (loss) per share are the same. Treasury shares When the Company purchases shares of the capital stock of the Company itself (treasury shares), the amount paid, including any directly attributable additional costs (net of income tax), is deducted from the equity attributable to the shareholders of the Company until the shares are canceled or disposed of. When such shares are subsequently disposed of, any amounts received, net of any directly attributable additional transaction costs and the respective income tax and social contribution effects, are included in the equity attributable to the Company’s shareholders. Result per share Basic and diluted earnings (loss) per share was calculated based on the profit attributable to CSN’s controlling shareholders divided by the weighted average number of common shares outstanding during the period, excluding common shares purchased and held as treasury shares. The Company does not hold potential dilutable common shares in circulation that could result in the dilution of earnings per share. Non-controlling interest and transactions The Company considers transactions with non-controlling interests as transactions with owners of the Company’s assets. For non-controlling interests, the difference between any consideration paid and the acquired portion of the carrying amount of the subsidiary’s net assets is recorded in equity. Gains or losses on disposals for non-controlling interests are also recorded directly in equity. When the Company ceases to have control, any interest held in the entity is remeasured at fair value, with the change in carrying amount recognized in the income statement. The fair value is the initial carrying amount for the subsequent accounting of the retained interest in an associate, a joint venture or a financial asset. In addition, any amounts previously recognized in other comprehensive income related to that entity are accounted for as if the Company had directly disposed of the related assets or liabilities. This means that the amounts previously recognized in other comprehensive income are reclassified to income. |
SHAREHOLDER_S COMPENSATION
SHAREHOLDER’S COMPENSATION | 12 Months Ended |
Dec. 31, 2022 | |
Shareholders Compensation | |
SHAREHOLDER’S COMPENSATION | 24. SHAREHOLDER’S COMPENSATION The Company's Bylaws provide for the distribution of minimum dividends of 25% of the adjusted net income in accordance with the laws, to the holders of their shares. Dividends are calculated in accordance with the Company's bylaws and the Brazilian Corporation Law. The profit allocation for 2022 and 2021 is shown below: Schedule of deliberate and paid dividends 12/31/2022 Profit for the year 1,554,060 Capital reserve 5 (77,703) Interest on equity prescribed (1) 789 Net income after destination 1,477,146 Interest on equity (approved CA on 12/29/2022) (2) 700,000 Additional dividends proposed to the profit account (3) 777,146 In addition, the Administration proposes: Complementary dividends with Statutory Reserve (4) 836,854 At the Annual General Meeting to be held on April 28, 2023, the proposal for allocation of profits resented in the financial statements will be deliberated. (1) As provided for in the Bylaws, as of December 31, 2022, the Company reversed, to the retained earnings account, the amount of R$ 789 (2) At the meeting held on December 23, 2022, the Board of Directors approved the payment to shareholders, in advance of the minimum mandatory dividends, gross interest on equity in the amount of R$ 700,000 0.52786606981 15 595,000 0.44868615934 (3) The proposed additional dividends in the amount of R$ 777,146 (4) Additionally, the Company will deliberate at the AGM on the approval of the proposed additional dividends in the amount of R$836,854 from the earnings reserve account, the amount is recorded in equity under "Proposed dividends". Deliberation and/or payment of dividends occurred in 2022: On November 21, 2022, the Board of Directors approved the proposed distribution of interim dividends, from the earnings reserve account, in the amount of R$ 1,564,115 1.179490003008100 At the Annual General Meeting held on April 29, 2022 to approve the 2021 results, the Company approved the distribution of R$ 2,911,424 (i) R$ 1,750,000 (ii) R$ 256,952 (iii) R$ 904,472 0.681594305290377 452,236 0.340797152645188 Accounting Policy The Company adopts a profit distribution policy which, in compliance with the provisions of Law No. 6,404/76 as amended by Law 9,457/97, will imply the allocation of all net income to its shareholders, provided that the following priorities are preserved, regardless of its order: (i) business strategy; (ii) compliance with obligations; (iii) making the necessary investments; and (iv) the maintenance of a good financial situation for the Company. In accordance with article 33 of the Company’s Bylaws, at least 25% of the net income for the year, adjusted under the terms of article 202 of Law 6,404/76, will be distributed as dividends in each fiscal year, which will be reflected in current liabilities. In addition, the Board of Directors may pay interest on equity by allocating the amount of interest paid or credited to the minimum mandatory dividends mentioned above. If the Company reports a dividend higher than the mandatory minimum in the allocation proposal, this amount is highlighted in a specific account in equity under “Proposed Additional Dividend”. |
NET REVENUE FROM SALES
NET REVENUE FROM SALES | 12 Months Ended |
Dec. 31, 2022 | |
Net Revenue From Sales | |
NET REVENUE FROM SALES | 25. NET REVENUE FROM SALES Net sales revenue is comprised as follows: Schedule of net sales revenue Consolidated 12/31/2022 12/31/2021 12/31/2020 Gross revenue Domestic market 30,343,033 29,724,648 16,652,801 Foreign market 20,691,181 25,090,313 17,396,259 51,034,214 54,814,961 34,049,060 Deductions Sales returns, discounts and rebates (371,189) (272,842) (248,821) Taxes on sales (6,300,905) (6,630,080) (3,736,219) (6,672,094) (6,902,922) (3,985,040) Net revenue 44,362,120 47,912,039 30,064,020 Accounting Policy a) Nature of goods and services. The Company generates revenue from (i) the production and sale of steel, cement and iron ore, (ii) the provision of maritime freight services, in the case of iron ore export sales, and rail and port logistics services and (iii) sales of energy. b) Timing of revenue recognition. The Company recognizes revenue once all of the following conditions are satisfied: 1. Identification of the contract for sale of goods or provision of services; 2. Identification of the performance obligations; 3. Determination of the contract value; 4. Determination of the value allocated to each performance obligation included in the contract; and 5. Revenue recognition over time or at the time the performance obligations are completed. In the case of sales of goods, performance obligations are usually completed upon delivery of the goods to the destination specified by customers, which may be customers’ warehouses or, in the case of iron ore export sales, when the product is loaded on the ship. In certain cases, judgment may be required to determine when performance obligations are completed, based on the following indicators: I. Whether the customer has the significant risks and rewards of ownership and has the ability to direct the use of, and obtain substantially all of the remaining benefits from, the good; and II. Whether the customer has a present obligation to pay in accordance with the terms of the sales contract. Accordingly, the Company discloses revenue from each of its business segments as follows: Steel: The Company recognizes revenues from sales of steel products when control of the product passes to customers, which may be either upon delivery of the goods to the destination specified by customers or when the customer picks up the goods for delivery, depending on whether the customer contracts logistics services from the Company. Cement The Company recognizes revenues from sales of cement when control of the product passes to customers, which may be either upon delivery of the goods to the destination specified by customers or when the customer picks up the goods for delivery, depending on whether the customer contracts logistics services from the Company. Mining: The Company recognizes revenues from sales of iron ore when control of the product passes to customers, which generally occurs, in the case of export sales, when the product is loaded on the ship and, in the case of domestic sales, when the product is loaded on the train. Iron ore export sales pursuant to the Incoterms “Cost, Insurance and Freight – CIF” and “Cost and Freight – CFR” include maritime freight service embedded in the same invoice. In this case, the performance obligation of the maritime freight service is considered separately from the shipment of iron ore and the Company recognizes revenue from the provision of this service upon delivery of the goods to the destination specified by customers. Logistics: Rail logistics services. The Company’s rail logistics services are provided by its subsidiary Ferrovia Transnordestina Logística S.A. (“FTL”). The Company recognizes revenues from rail logistics services when the performance obligation, which is the contracted service, is completed, which occurs upon delivery of the goods to the destination specified by customers. Port logistics services. The Company’s port logistics services, which comprise handling of containers and storage, are provided by its subsidiary Sepetiba Tecon S.A. (“TECON”). The Company recognizes revenues from port logistics services when the performance obligation is completed. In the case of handling of containers, the performance obligation comprises the pool of services contracted. In the case of storage services, each month of storage represents a performance obligation and, consequently, the Company recognizes revenue on a monthly basis. Energy: The Company recognizes revenues from sales of energy that it has not used in its operations. This excess energy is made available through the public network and the Chamber of Electric Energy Commercialization (Câmara de Comercialização de Energia Elétrica), which is the governmental agency responsible for managing the network, redirects the energy to the electric system and, on a monthly basis, informs the Company of the amount of energy that was redirected to the electric system. Accordingly, the Company issues its invoice to this governmental agency and simultaneously recognizes the revenue from the sale of energy. The Company’s only variable consideration arises when iron ore is provisionally priced and there is a difference with the final price, which depends on future index prices. In this case, the Company initially recognizes revenue based on the applicable forward market price and then accounts for any eventual adjustment based on the final price. The period between provisional pricing and final invoicing is typically between 60 and 120 days. Where the Company has contracts with unfulfilled performance obligations at the end of a fiscal period, it discloses the transaction price allocated to these performance obligations. The Company does not disclose this information for contracts with an expected duration of one year or less. The Company presents revenues on a consolidated basis in its income statement and by segment in the explanatory note 29 - Segment Information. c) Payment terms. Generally, all sales of goods and provisions of services are payable within 30 days of the invoice date. |
EXPENSES BY NATURE
EXPENSES BY NATURE | 12 Months Ended |
Dec. 31, 2022 | |
Expenses By Nature | |
EXPENSES BY NATURE | 26. EXPENSES BY NATURE Schedule of expenses by nature Consolidated 12/31/2022 12/31/2021 12/31/2020 Raw materials and inputs (14,572,337) (10,405,028) (6,928,517) Outsourcing material (3,265,627) (4,476,702) Labor cost (3,320,234) (2,746,454) (3,187,428) Supplies (3,501,649) (2,297,069) (2,150,452) Maintenance cost (services and materials) (916,646) (1,268,752) (1,340,255) Outsourcing services (2,178,589) (2,119,515) (2,217,657) Freight (2,826,821) (1,835,601) (1,637,585) Depreciation, amortization and depletion (2,792,845) (2,114,681) (2,421,458) Others (929,205) (1,533,119) (1,750,424) (34,303,953) (28,796,921) (21,633,776) Classified as: Cost of sales (31,054,016) (25,837,475) (19,124,901) Selling expenses (2,575,818) (2,372,298) (2,004,417) General and administrative expenses (674,119) (587,148) (504,458) (34,303,953) (28,796,921) (21,633,776) The depreciation, amortization and depletion for the year were distributed as follows. Schedule of depreciation, amortization and depletion Consolidated 12/31/2022 12/31/2021 12/31/2020 Production costs (1) (2,752,557) (2,075,488) (2,374,046) Selling expenses (13,948) (11,227) (13,978) General and administrative expenses (26,340) (27,966) (33,434) Total (2,792,845) (2,114,681) (2,421,458) Other operational (2) (77,386) (97,725) (95,270) Net (2,870,231) (2,212,406) (2,516,728) (1) The cost of production includes PIS and COFINS credits on lease agreements as of December 31, 2022, in the amount of R$7.429 (R$5.786 as of December 31, 2021 ) . (2) They mainly refer to the depreciation of investment properties, paralyzed equipment and amortization of the SWT customer portfolio, classified in other operating expenses, see note 27. |
OTHER OPERATING INCOME AND EXPE
OTHER OPERATING INCOME AND EXPENSES | 12 Months Ended |
Dec. 31, 2022 | |
Other Operating Income And Expenses | |
OTHER OPERATING INCOME AND EXPENSES | 27. OTHER OPERATING INCOME AND EXPENSES Schedule of other operating income (expenses) Consolidated 12/31/2022 12/31/2021 12/31/2020 Other operating income Receivables by indemnity 10,588 13,646 245,945 Rentals and leases 17,178 11,688 9,096 Dividends received 832 26,600 1,197 PIS, COFINS and INSS to compensate 236,000 120,452 Contractual fines 11,863 1,468 4,783 Updated shares – Fair value through profit or loss (note 14) (95,620) 109,254 12,579 Net gain in shares sale (note 10.d) (1) 2,472,497 Other revenues (2) 308,392 87,219 32,747 Total Other operating income 253,233 2,958,372 482,494 - - - Other operating expenses Taxes and fees (372,897) (109,693) (46,338) Expenses/reversal with environmental liabilities, net (10,145) (8,789) 16,151 Write-off/(Provision) of judicial lawsuits (209,396) (25,063) (130,869) Depreciation and amortization (note 26) (77,386) (97,725) (95,270) Reversal/(Write-off) of estimated losses on property, plant and equipment, intangible assets and PPI, net of reversal (notes 10.f, 11 and 12) 24,133 (112,886) (13,130) Reversal of Impairment Fair Value Transnordestina 387,989 Estimated (Loss)/reversal in inventories (226,942) (138,779) (179,012) Idleness in stocks and paralyzed equipment (3) (122,031) (37,609) (303,975) Studies and project engineering expenses (58,443) (77,059) (27,137) Research and development expenses (461) (355) (620) Healthcare plan expenses (24,158) (31,989) (117,193) Cash flow hedge accounting realized (note 14) (4) (1,478,589) (553,018) (1,951,035) Actuarial pension plan (59,693) (48,068) Other expenses (679,836) (474,999) (421,628) Total Other operating expenses (2,907,855) (1,716,032) (3,270,056) Other operating income (expenses), net (2,654,622) 1,242,340 (2,787,562) (1) Refers to the gain on the public offering of CSN Mineração shares (see note 10.d); (2) In 2022 the undisputed amount of R$ 134,611 (3) In 2022, it is the unused capacity due to lower than usual production volume, because of the intense rains during the ore extraction operation; (4) This refers to the effects of a cash flow hedge in the Company in the amount of (R$ 1,393,034 85,555 |
FINANCIAL INCOME (EXPENSES)
FINANCIAL INCOME (EXPENSES) | 12 Months Ended |
Dec. 31, 2022 | |
Financial Income | |
FINANCIAL INCOME (EXPENSES) | 28. FINANCIAL INCOME (EXPENSES) Schedule of financial income expenses Consolidated 12/31/2022 12/31/2021 12/31/2020 Financial income Related parties (Note 22 a) 184,480 93,862 51,124 Income from financial investments 763,259 279,467 58,061 Updated shares – Fair value through profit or loss (note 14.d) (1) (1,198,164) 385,297 1,190,489 Other income 172,205 408,558 503,054 Financial income (78,220) 1,167,184 1,802,728 Financial expenses Borrowings and financing - foreign currency (note 13) (1,238,372) (1,590,120) (1,600,973) Borrowings and financing - local currency (note 13) (1,356,639) (503,849) (401,079) Capitalised interest (note 11) 135,242 87,414 92,506 Related parties (10,297) (12,072) (13,608) Lease liabilities (68,533) (59,260) (50,804) Interest and fines (95,667) (73,334) (290,673) Interest on drawn/forfaiting risk operations (444,062) (126,232) - (-) Adjustment present value of trade payables (419,517) (265,495) (139,566) Commission, bank fees, Guarantee and bank fees (165,397) (239,451) (162,085) PIS/COFINS over financial income (118,311) (88,897) (39,149) Other financial expenses (390,598) (285,832) (270,764) Financial expenses (4,172,151) (3,157,128) (2,876,195) Others financial items, net Foreign exchange and monetary variation, net 783,902 46,199 392,971 Gains and (losses) on exchange derivatives (*) (48,556) (439) (115,815) Others financial 735,346 45,760 277,156 Financial income (expenses) (3,436,805) (3,111,368) (2,599,039) Financial income (expenses), net (3,515,025) (1,944,184) (796,311) (*) Statement of gains and (losses) on derivative transactions (note 14.c) Dollar - to - real NDF 176,991 37,322 Exchange rate swap Real x Dollar (11,467) Exchange rate swap Dollar x Euro 7,119 (9,070) Exchange rate swap GBP x Euro (602) Interest rate swap CDI x IPCA (257,897) (34,920) Exchange rate swap CDI x Dollar 43,817 (9,960) (106,143) Total (48,556) (439) (115,815) (1) refers to gains and losses with the updating of the fair value of USIMINAS' shares |
SEGMENT INFORMATION
SEGMENT INFORMATION | 12 Months Ended |
Dec. 31, 2022 | |
Segment Information | |
SEGMENT INFORMATION | 29. SEGMENT INFORMATION According to the Group´s structure, the businesses are distributed and managed in five operating segments as follows: · Steel The Steel Segment consolidates all the operations related to the production, distribution and sale of flat steel, long steel, metallic containers and galvanized steel, with operations in Brazil, United States, Portugal and Germany. The Segment supplies the following markets: construction, steel containers for the Brazilian chemical and food industries, home appliances, automobile and OEM (motors and compressors). The Company’s steel units produce hot and cold rolled steel, galvanized and pre-painted steel of great durability. They also produce tinplate, a raw material used to produce metallic containers. Overseas, Lusosider, which is based in Portugal, produces cold rolled steel and galvanized steel. CSN LLC in the USA meets local market needs, import and trade of steel products. Stahlwerk Thüringen (SWT), which is based in Germany, produces long steels and is specialized in the production of shapes used for construction. In January 2014 the production of long steel products started in Brazil and consolidates the company as a source of complete construction solutions, complementing its portfolio of products with high value added in the steel chain. · Mining This segment encompasses the activities of iron ore and tin mining. The high-quality iron ore operations are located in the Iron Quadrilateral in Minas Gerais, which has its own mines and sells third party iron ore. At the end of 2015, CSN and the Asian Consortium formalized a shareholders' agreement for the combination of assets linked to iron ore operations and the related logistics structure, forming a new company that has focused on mining of the Group activities from December 2015. In this context, the new company, currently named CSN Mineração S.A., holds the lease of TECAR, the Casa de Pedra mine and all the shares of Namisa, which was incorporated on December 31, 2015. CSN still owns 100 Moreover, CSN controls the Estanho de Rondônia S.A., a company with mining units and tin casting, in the state of Rondônia. On October 7, 2022, CSN Mineração and CSN Energia completed the acquisition of the Quebra-Queixo Hydroelectric Power Plant, with an installed capacity of 120 MW, located in the city of Ipuaçu – SC, leading CSN Mineração to become self-sufficient in electricity, reinforcing its industrial competitiveness through greater cost predictability and 100% renewable energy generation. · Logistics i. Railway CSN has equity interests in three railroad companies: MRS Logística, which manages the former Southeast Network of Rede Ferroviária Federal S.A. (RFFSA), Transnordestina Logística S.A. and FTL - Ferrovia Transnordestina Logística S.A., which has the concession to operate the former Northeast Network of the RFFSA in the states of Maranhão, Piauí, Ceará, Rio Grande do Norte, Paraíba, Pernambuco and Alagoas. a) MRS The railroad transportation services provided by MRS are fundamental to the supply of raw materials and the shipment of final products. The total amount of iron ore, coal and coke consumed by the Presidente Vargas plant as well as part of the steel produced by CSN for the domestic market and for export are carried by MRS. The Southeast Brazilian railroad system, encompassing 1,674 kilometers of tracks, serves the tri-state industrial area of São Paulo-Rio de Janeiro-Minas Gerais, in the southeast region, linking the mines located in Minas Gerais to the ports located in São Paulo and Rio de Janeiro, and the steel mills of CSN, Companhia Siderúrgica Paulista (Cosipa), and Gerdau Açominas. Besides serving other customers, the railroad system carries iron ore from the Company’s mines in Casa de Pedra, Minas Gerais, and coke and coal from the Itaguaí Port, in Rio de Janeiro, to Volta Redonda, and carries CSN’s export products to the ports of Itaguaí and Rio de Janeiro. b) TLSA and FTL TLSA and FTL hold the concession for the former Northeast Network of RFFSA. The northeastern railway system covers 4,238 km of railway network divided into two sections: i) Malha I, which integrates the sections of São Luiz - Mucuripe, Arrojado - Recife, Itabaiana - Cabedelo, Paula Cavalcante - Macau - and Propriá - Jorge Lins (Mesh I); and ii) Malha II, which includes the sections of Missão Velha - Salgueiro, Salgueiro - Trindade, Trindade - Eliseu Martins, Salgueiro - Porto de Suape and Missão Velha - Porto de Pecém. In addition, it connects to the main ports in the region, thereby offering an important competitive advantage through opportunities for combined transport solutions and tailor-made logistics projects. II. Port The port logistics segment consolidates the terminal’s operation from Sepetiba built after the port modernization law (Law 8,630/1993) that allowed the transfer of port activities to the private sector. The Sepetiba terminal has a complete infrastructure to meet all the needs of exporters, importers and shipowners. Its installed capacity exceeds that of most other Brazilian terminals. It has cribs and a large storage area, as well as the most modern and adequate equipment, systems, and intermodal connections. The Company’s constant investment in terminal projects consolidates the Itaguaí Port Complex as one of the most modern in the country. · Energy CSN is one of the largest industrial consumers of electric energy in Brazil. As energy is fundamental in its production process, the Company invests in electricity generation assets and, with the acquisitions made in 2022, reached its energy self-sufficiency, starting to operate in the sector as a player in the generation of electricity through the sale of its surplus. The year 2022 marked the growth of this segment through the acquisition of relevant renewable generation assets, tripling its generation capacity, as follows: On June 30, 2022, CSN Cimentos and CSN Energia completed the acquisition of SHP Sacre II, located in the municipality of Brasnorte – MT, with an installed capacity of 30 MW, and SHP Santa Ana, located in the municipality of Angelina – SC, with installed capacity of 6.50 MW. On October 7, 2022, CSN Mineração and CSN Energia concluded the acquisition of the Quebra-Queixo Hydroelectric Power Plant, located in the city of Ipuaçu – SC, with an installed capacity of 120 MW. On October 21, 2022, Companhia Florestal do Brasil (“CFB”) concluded the acquisition of 66.23% of the shares of Companhia Estadual de Geração de Energia Elétrica – CEEE-G, with plants located in the state of Rio Grande do Sul, increasing the installed capacity of the CSN group by 746 MW. On December 22, 2022, Companhia Florestal do Brasil (“CFB”) concluded the acquisition of Eletrobras' 32.74% interest in Companhia Estadual de Geração de Energia Elétrica – CEEE-G. This acquisition resulted in an increase of 380 MW in the installed generation capacity for CSN. As a result, Companhia Florestal do Brasil (“CFB”) now holds a total of 99% of the share capital of CEEE-G. With the acquisitions, the CSN group now holds a portfolio of generation assets with an installed capacity of 2,168 MW, as shown below: 1. Itá Hydroelectric Power Plant, located in the state of Santa Catarina, in which CSN holds a 29.50% interest through ITASA's SPE, with an installed capacity equivalent to its participation of 428 MW; 2. Igarapava Hydroelectric Power Plant, located in Minas Gerais, in which CSN holds a 17.92% stake in the consortium, with an installed capacity equivalent to its stake of 38 MW; 3. Thermoelectric Cogeneration Center CTE#1, CTE#2 and TRT – Top Recovery Turbine, operating at the Presidente Vargas Steelworks with an installed capacity of 10 MW, 235 MW and 22 MW respectively, using recirculated industrial gases resulting from steel production as fuel; 4. Sacre II Small Hydroelectric Power Plant, located in the state of Mato Grosso, with an installed capacity of 30 MW, of which CSN Cimentos holds full control of the asset through indirect control of the SPE de Brasil Central Energia; 5. Santa Ana Small Hydroelectric Power Plant, located in the state of Santa Catarina, with an installed capacity of 6.5 MW, of which CSN Cimentos holds full control of the asset through direct control of the SPE of Santa Ana Energética; 6. Quebra-Queixo Hydroelectric Power Plant, located in the state of Santa Catarina, with an installed capacity of 120 MW, of which CSN Mineração holds full control of the asset through the direct control of the SPE CEC – Companhia Energética Chapecó; 7. Cachoeira dos Macacos Small Hydroelectric Power Plant, located in the state of Minas Gerais, with an installed capacity of 3.4 MW, of which CSN Cimentos holds full control of the asset, through the acquisition of LafargeHolcim; 8. Companhia Estadual de Geração de Energia Elétrica – CEEE-G, located in the state of Rio Grande do Sul, with a platform of 15 own Hydroelectric Power Plants, wind and solar assets, in addition to minority participation in other projects, reflecting an installed capacity of 1,275 MW. · Cement The Cement segment, which operates through CSN Cimentos, consolidates the production, marketing and distribution of cement, aggregates and concrete. In the Southeast plants the slag used is the same produced by the blast furnaces of the Presidente Vargas plant itself, in Volta Redonda/RJ. The Company has intensified its strategy of expanding its business to new regions, and the first step was taken with the acquisition of Elizabeth Cimentos S.A. and Elizabeth Mineração Ltda. on August 31, 2021, which, with operations in the Northeast region, adds 1.3 Mtpy of cement production capacity. On September 6, 2022, CSN Cimentos made a significant advance in its capacity and geographic positioning through the acquisition of LafargeHolcim (Brasil) S.A. This asset adds 11 million tons of cement production capacity, in addition to contributing new business to the current portfolio: Aggregates and Concrete. With all operations combined, CSN's Cement segment is currently the second largest in Brazil, in terms of effective production capacity, totaling 17 million tons. The cement plants are located in the states of Minas Gerais (Arcos, Pedro Leopoldo, Barroso and Montes Claros), Rio de Janeiro (Volta Redonda, Cantagalo and Rio de Janeiro), Paraíba (Alhandra and Caaporã), Espírito Santo (Vitória), Bahia (Candeias), Goiás (Cocalzinho de Goiás) and São Paulo (Sorocaba). The production process basically involves grinding the main raw materials, which include clinker, limestone, gypsum and slag. The sites are divided into two modalities: integrated factories and mills. The integrated factories have a limestone mine and kiln for the production of clinker, they are: Arcos, Barroso, Pedro Leopoldo, Montes Claros, Alhandra, Caaporã and Cantagalo. The mills, however, do not produce their own clinker, they are supplied with our own clinker (transfer between plants) and/or third-party sources, namely: Volta Redonda, Rio de Janeiro, Vitória, Candeias, Cocalzinho and Sorocaba. Currently, the company serves the cement market with a broad portfolio of products suitable for both the technical segment and the distribution market, in accordance with ABNT NBR 16697. Cement is marketed in both bagged and bulk form. In addition to the operations above, CSN Cimentos also owns two electricity generation assets acquired on June 30, 2022: SHP Santa Ana, located in the municipality of Angelina - SC, with an installed capacity of 6.50 MW, and SHP Sacre II, located in the municipality of Brasnorte – MT, with an installed capacity of 30 MW. · Sales by geographic area Sales by geographic area are determined based on the customers’ location. On a consolidated basis, domestic sales are represented by revenues from customers located in Brazil and export sales are represented by revenues from customers located abroad. Results by segment For the purpose of preparing and presenting the information by business segment, Management decided to maintain the proportional consolidation of the jointly controlled entities as historically presented. For purposes of reconciliation of the consolidated result, the amounts recorded by these companies are not included in the “Corporate expenses/elimination” column. Schedule of consolidated results 12/31/2022 P&L Steel Mining Logistics Energy Cement Corporate expenses/ elimination Consolidated Port Railroads Net revenues Domestic market 20,588,235 1,700,051 307,999 2,311,754 293,035 2,819,551 (4,063,084) 23,957,541 Foreign market 8,752,776 10,825,080 826,723 20,404,579 Cost of sales and services (note 26) (23,256,319) (7,105,424) (220,491) (1,507,028) (287,340) (1,974,415) 3,297,001 (31,054,016) Gross profit 6,084,692 5,419,707 87,508 804,726 5,695 845,136 60,640 13,308,104 General and administrative expenses (note 26) (1,314,352) (352,152) (32,976) (153,294) (43,786) (386,230) (967,147) (3,249,937) Other operating (income) expenses, net (note 27) (777,976) (449,871) (14,353) 33,927 39,376 (105,018) (1,380,707) (2,654,622) Equity in results of affiliated companies (note 10) 237,917 237,917 Operating result before Financial Income and Taxes 3,992,364 4,617,684 40,179 685,359 1,285 353,888 (2,049,297) 7,641,462 Sales by geographic area Asia 9,514,509 826,723 10,341,232 North America 2,018,046 2,018,046 Latin America 382,128 382,128 Europe 6,351,536 1,310,571 7,662,107 Others 1,066 1,066 Foreign market 8,752,776 10,825,080 826,723 20,404,579 Domestic market 20,588,235 1,700,051 307,999 2,311,754 293,035 2,819,551 (4,063,084) 23,957,541 Total 29,341,011 12,525,131 307,999 2,311,754 293,035 2,819,551 (3,236,361) 44,362,120 12/31/2021 P&L Steel Mining Logistics Energy Cement Corporate expenses/ elimination Consolidated Port Railroads Net revenues Domestic market 21,400,318 3,114,385 311,040 1,839,307 222,785 1,430,150 (5,084,155) 23,233,830 Foreign market 8,691,130 14,929,001 1,058,078 24,678,209 Cost of sales and services (note 26) (20,081,043) (7,705,835) (220,494) (1,266,112) (146,349) (892,900) 4,475,259 (25,837,475) Gross profit 10,010,405 10,337,551 90,546 573,195 76,436 537,250 449,182 22,074,564 General and administrative expenses (note 26) (1,158,748) (351,371) (33,853) (135,091) (32,083) (190,986) (1,057,314) (2,959,446) Other operating (income) expenses, net (note 27) (405,018) (287,744) (8,290) 58,253 41,337 (63,631) 1,907,433 1,242,340 Equity in results of affiliated companies (note 10) 182,504 182,504 Operating result before Financial Income and Taxes 8,446,639 9,698,436 48,403 496,357 85,690 282,633 1,481,805 20,539,962 Sales by geographic area Asia 12,627,913 1,058,078 13,685,991 North America 2,275,612 2,275,612 Latin America 355,912 355,912 Europe 6,059,606 2,301,088 8,360,694 Foreign market 8,691,130 14,929,001 1,058,078 24,678,209 Domestic market 21,400,318 3,114,385 311,040 1,839,307 222,785 1,430,150 (5,084,155) 23,233,830 Total 30,091,448 18,043,386 311,040 1,839,307 222,785 1,430,150 (4,026,077) 47,912,039 12/31/2020 Steel Mining Logistics Energy Cement Corporate expenses/ elimination Consolidated Port Railroads Net revenue (note 25) 16,602,895 12,683,231 256,371 1,489,647 172,859 858,192 (1,999,175) 30,064,020 Cost of sales and services (note 26) (14,170,692) (5,531,763) (187,860) (1,094,130) (128,227) (647,132) 2,634,903 (19,124,901) Gross profit 2,432,203 7,151,468 68,511 395,517 44,632 211,060 635,728 10,939,119 General and administrative expenses (note 26) (922,862) (179,806) (21,949) (114,970) (30,243) (88,232) (1,150,813) (2,508,875) Other operating (income) expenses, net (note 27) (392,061) (665,881) (5,420) 52,569 (2,967) (44,893) (1,728,909) (2,787,562) Equity in results of affiliated companies (note 10) 71,755 71,755 Operating result before Financial Income and Taxes 1,117,280 6,305,781 41,142 333,116 11,422 77,935 (2,172,239) 5,714,437 Sales by geographic area Asia 7,461,791 1,144,614 8,606,405 North America 922,299 922,299 Latin America 327,900 995 328,895 Europe 3,627,011 3,688,851 7,315,862 Others 4,346 4,346 Foreign market 4,881,556 11,150,642 995 1,144,614 17,177,807 Domestic market 11,721,339 1,532,589 256,371 1,489,647 172,859 857,197 (3,143,789) 12,886,213 Total 16,602,895 12,683,231 256,371 1,489,647 172,859 858,192 (1,999,175) 30,064,020 Accounting Policy An operating segment is a component of the Group committed to the business activities, from which it can earn revenue and incur expenses, including income and expenses related to transactions with any other components of the Group. All results of operating segments are regularly reviewed by CSN’s Executive Board to make decisions about the resources to be allocated to the segment and to evaluate its performance, and for which different financial information is available. |
EMPLOYEE BENEFITS
EMPLOYEE BENEFITS | 12 Months Ended |
Dec. 31, 2022 | |
Employee Benefits | |
EMPLOYEE BENEFITS | 30. EMPLOYEE BENEFITS The pension plans granted cover substantially all employees. The plans are managed by Caixa Beneficente dos Empregados de CSN (“CBS”), a private, non-profit pension fund established in July 1960. Until December 1995, CBS Previdência managed two defined benefit plans based on years of service, salary and social security benefits. On December 27, 1995, the then Supplementary Pension Secretariat (“SPC”) approved the implementation of a new benefit plan, effective as of that date, called the Supplementary Benefit Mixed Plan (“Mixed Plan”), structured under the form of a variable contribution plan, which has been closed to new members since September 2013. As of that date, all new employees must join the CBSPrev Plan, structured in the form of defined contribution, also created in September 2013. The CBS guarantee funds are mainly invested in repo operations (backed by federal government bonds), federal government bonds indexed to inflation, stocks, loans and real estate. As of December 31, 2022 and 2021, CBS held 3,486,252 5.9 5.8 Guarantee Funds are considered to be the available and investment assets of the Benefit Plans, not including the amounts of debts contracted with sponsors. For defined benefit plans, called “35% of Average Salary” and “Supplementary Average Salary Plan”, the Company maintains a financial guarantee with CBS Previdência, the entity that manages the aforementioned plans, in order to maintain the financial and actuarial balance, should any future actuarial loss or actuarial gain occur. In compliance with current legislation, specific to the pension fund market, for the last 4 years ended (2019, 2020, 2021 and 2022), there was no need to pay installments by CSN, since the benefit plans presented actuarial gains in the year. In August 2022, CSN Cimentos Brasil S.A. (formerly LafargeHolcim) was acquired and, consequently, Plano Mauá Prev was introduced in the Group. CSN Cimentos Brasil also sponsors the Mauá Prev Retirement Plan for its employees. This is the plan that LafargeHolcim in Brazil made available to all its employees as of December 1, 2016. Until 2009, Lafarge Brasil S.A. sponsored two plans, a defined contribution plan and a defined benefit plan. On July 1, 2009, the plans were merged, remaining only one variable contribution plan, with the exception of the acquired right of those who had already completed the eligibility of the defined benefit rules. The following tables present a summary of the components of the net defined benefit expense of Mauá Prev recognized in the income statement, as well as the capitalization status and amounts subject to recognition in the balance sheet as at December 31, 2022 and 2021. 30.a) Description of pension plans Plan of 35% of the average salary This plan started on February 1, 1966 and is a defined benefit plan, the purpose of which is to pay retirement benefits (length of service, special, disability or old age) for life, equivalent to 35 12 Average salary supplementation plan This plan started on November 1, 1977 and is a defined benefit plan. Its objective is to complement the difference between the corrected average of the last 12 Mixed supplementary benefit plan Started on December 27, 1995, it is a variable contribution plan. In addition to the programmed retirement benefit, payment of risk benefits (active pension, disability and sickness/accident benefits) is also provided. In this plan, the retirement benefit is calculated based on what has been accumulated by the monthly contributions of the participants and the sponsors, as well as the option of each participant in the form of receiving the same, which can be for life (with or without continuity of pension for death) or by a percentage applied to the balance of the benefit-generating fund (loss for an indefinite period). After retirement, the plan will have the characteristic of a defined benefit plan, if the participant has opted to receive his benefit in the form of lifetime monthly income. This plan was discontinued on September 16, 2013, when the CBS Prev plan came into effect. CBS Prev Plan On September 16, 2013, the new CBS Prev pension plan began, which is a defined contribution plan. In this plan, the retirement benefit is determined based on what has been accumulated by the monthly contributions of participants and sponsors. The option of each participant to receive it can be: (a) receive part in cash (up to 25%) and the remaining balance through monthly income for a percentage applied to the benefit-generating fund, not being applicable to death pension benefits, (b) receive only monthly income for a percentage applied to the benefit-generating fund. With the creation of the CBS Prev Plan, the Mixed Supplementary Benefit Plan was discontinued for the entry of new participants as of September 16, 2013. Mauá Prev Plan The Mauá Prev plan is offered by CSN Cimentos Brasil S.A. (formerly LafargeHolcim) acquired in 2022, and sponsors the Mauá Prev Retirement Plan, for its employees. This is the plan that LafargeHolcim in Brazil made available to all its employees as of December 1, 2016. Until 2009, Lafarge Brasil S.A. sponsored two plans, a defined contribution plan and a defined benefit plan. On July 1, 2009, the plans were merged, remaining only one variable contribution plan, with the exception of the acquired right of those who had already completed the eligibility of the defined benefit rules. Additionally, the Company has recorded in a collective agreement in some of its plants commitments related to the bonus, due on the occasion of the retirement of the employee by the Social Security. The following tables present the commitments related to this bonus, as well as the capitalization status and the amounts subject to recognition in the balance sheet 30.b) Investment policy The investment policy establishes the principles and guidelines that should govern the investments of resources entrusted to the entity, with the objective of promoting the security, liquidity and profitability necessary to ensure the balance between the plan's assets and liabilities, based on the ALM (Asset Liability Management) study, which considers the benefits of the participants and beneficiaries of each plan. The investment plan is reviewed annually and approved by the Deliberative Council, considering a 5-year horizon, as established in CGPC resolution No. 7 of December 4, 2003. The investment limits and criteria established in the policy are based on Resolution 4,661/18, published by the National Monetary Council (“CMN”). 30.c) Employee benefits The actuarial calculations are updated at the end of each year, by external actuaries and presented in the financial statements in accordance with IAS 19 – Employee benefits. Schedule of actuarial employee benefit assets and liabilities Consolidated 12/31/2022 12/31/2021 12/31/2022 12/31/2021 Actuarial asset Actuarial liabilities Benefits of pension plans (35,477) (59,111) Post-employment healthcare benefits 537,290 584,288 (35,477) (59,111) 537,290 584,288 The reconciliation of assets and liabilities of employee benefits is presented below: Schedule of reconciliation of employee benefits' assets and liabilities Consolidated 12/31/2022 12/31/2021 12/31/2020 Present value of defined benefit obligation 3,110,848 3,151,609 3,645,822 Fair value of plan assets (3,572,869) (3,584,244) (3,766,194) Surplus (462,021) (432,635) (120,372) Restriction to actuarial assets due to recovery limitation 426,544 373,524 186,099 Liabilities (Assets), net (35,477) (59,111) 65,727 The change in the present value of the defined benefit obligation is shown below: Schedule of defined benefit obligation Consolidated 12/31/2022 12/31/2021 12/31/2020 Present value of obligations at the beginning of the year 3,151,609 3,645,822 3,581,460 Consolidation of CSN Cimentos Brasil 67,640 Cost of service 1,225 1,253 968 Interest cost 324,041 231,009 236,551 Participant contributions made in the year 1,382 1,398 1,998 Benefits paid (310,471) (283,393) (278,960) Actuarial loss/(gain) (124,578) (444,480) 103,805 Present value of obligations at the end of the year 3,110,848 3,151,609 3,645,822 The change in the fair value of the plan’s assets is shown below: Schedule of changes in fair value of the plan assets Consolidated 12/31/2022 12/31/2021 12/31/2020 Fair value of plan assets at the beginning of the year (3,584,244) (3,766,193) (3,894,488) Consolidation of CSN Cimentos Brasil (63,292) Interest income (369,488) (238,534) (257,946) Benefits Paid 310,471 283,393 278,960 Participant contributions made in the year (1,382) (1,398) (1,998) Employer contributions made in the year (144) Return on plan assets (less interest income) 135,210 138,488 109,279 Fair value of plan assets at the end of the year (3,572,869) (3,584,244) (3,766,193) The composition of the amounts recognized in the income statement is shown below: Schedule of employee benefits recognized in the income statement Consolidated 12/31/2022 12/31/2021 12/31/2020 Cost of current service 1,225 1,253 968 Interest cost 324,041 231,009 236,551 Expected return on plan assets (369,488) (238,534) (257,946) Interest on the asset ceiling effect 39,416 11,985 21,737 Total costs / (income), net (4,806) 5,713 1,310 The (cost)/income is recognized in the income statement in other operating expenses. The movement of actuarial gains and losses is shown below: Schedule of actuarial gains and losses Consolidated 12/31/2022 12/31/2021 12/31/2020 Actuarial losses and (gains) (124,578) (444,480) 103,805 Return on plan assets (less interest income) 135,210 138,488 109,279 Change in the asset’s limit (excluding interest income) 13,604 175,440 (154,741) Total cost of actuarial losses and (gains) 24,236 (130,552) 58,343 The breakdown of actuarial gains and losses is shown below: Schedule of breakdown of actuarial gains or losses Consolidated 12/31/2022 12/31/2021 12/31/2020 Loss due to change in demographic assumptions 67,930 Loss due to change in financial assumptions (204,485) (647,564) (30,454) Loss due to experience adjustments 79,907 203,084 66,329 Return on plan assets (less interest income) 135,210 138,489 109,279 Change in the asset’s limit (excluding interest income) 13,604 175,440 (154,741) Actuarial losses and (gains) 24,236 (130,551) 58,343 The main actuarial assumptions used were as follows: Schedule of actuarial assumptions used 12/31/2022 12/31/2021 Actuarial financing method Projected unit credit Projected unit credit Functional currency Real (R$) Real (R$) Recognition of plan assets Fair value Fair value Nominal discount rate Plan 35%: 6.10% Millennium Plan: 6,95% Inflation rate 5.31 5.03 Nominal salary increase rate 1.00 6.08 Nominal benefit increase rate 5.31 5.03 Rate of return on investments Millennium Plan: 6.14% Millennium Plan: 10.71% General mortality table Millennium Plan: AT-2012 segregated by gender Millennium Plan: AT-2012 segregated by gender Disability table Supplementation: Not applied Supplementation: Not applied Disability mortality table Millennium Plan: AT 71 Millennium Plan: AT 71 Turnover table Millennium Plan 5% per year Millennium Plan 5% per year Retirement age 100% on the first date he/she becomes eligible for programmed retirement benefit under the plan 100% on the first date he/she becomes eligible for programmed retirement benefit under the plan Household of active participants 95% will be married at the time of retirement, with the wife being 4 years younger than the husband 95% will be married at the time of retirement, with the wife being 4 years younger than the husband The assumptions regarding the mortality table are based on published statistics and mortality tables. These tables translate into an average life expectancy in years for employees aged 65 and 40: Schedule of average life expectancy Plan covering 35% of the average salary Average salary supplementation plan Mixed supplementary benefit plan (Milênio Plan) Plan ACT - Mauá Prev Longevity at age of 65 for current participants 12/31/2022 12/31/2021 12/31/2022 12/31/2021 12/31/2022 12/31/2021 12/31/2022 Male 18.38 18.38 18.75 18.75 21.47 21.47 22.17 Female 18.38 18.38 21.41 21.41 23.34 23.34 19.55 Longevity at age of 40 for current participants Male 40.15 40.15 40.60 40.60 44.07 44.07 40.15 Female 40.15 40.15 44.41 44.41 46.28 46.28 45.30 Allocation of plan assets: Schedule of allocation of plan assets 12/31/2022 12/31/2021 12/31/2020 Variable income 193,948 5.43 195,032 5.44 54,285 1.44 Fixed income 3,106,206 86.94 3,127,736 87.26 3,438,735 91.31 Real estate 207,223 5.80 190,474 5.31 182,145 4.84 Others 65,492 1.83 71,001 1.98 91,028 2.42 Total 3,572,869 100.00 3,584,243 100.00 3,766,193 100.00 The assets invested in variable income are mainly invested in CSN shares. Fixed income assets are mainly composed of debentures, Interbank Deposit Certificates ("CDI") and National Treasury Bills (“NTN-B”). Real estate refers to buildings valued by a specialized asset appraisal company. There are no assets in use by CSN and its subsidiaries. For the pension plan, the expense in 2022 was R$ 1,616 2,032 30.d) Expected contributions There are no expected contributions that will be paid to the defined benefit plans 35% and Supplementation in 2023. For the mixed supplementary benefit plan, the expected contributions in the amount of R$ 19,295 1,366 30.e) Sensitivity analysis The quantitative sensitivity analysis regarding the significant assumptions, for the pension plans as of December 31, 2022 is shown below: Schedule of sensitivity analysis Consolidated Effect of Plans Assumption: Discount rate Sensitivity level 0.5 -0.5 Effect on current service cost and on interest on actuarial obligations (13,628) 14,646 Effect on present value of obligations (116,302) 124,915 Assumption: Salary growth Sensitivity level 0.5 -0.5 Effect on current service cost and on interest on actuarial obligations 116 (108) Effect on present value of obligations 1,148 (1,081) Assumption: Benefit adjustment Sensitivity level 0.5 -0.5 Effect on current service cost and on interest on actuarial obligations 1,728 (1,728) Effect on present value of obligations 14,713 (14,713) Assumption: Mortality table Sensitivity level +1 ano - 1 ano Effect on current service cost and on interest on actuarial obligations 8,572 (8,681) Effect on present value of obligations 72,993 (73,913) Following are the expected benefits for future years for defined benefit plans: Schedule of forecast benefit payments of the defined benefit plans Forecast payments 2022 Year 1 331,781 Year 2 309,844 Year 3 301,196 Year 4 293,367 Year 5 284,533 Next 5 years 1,286,222 Total forecast payments 2,806,943 30.f) Post-Employment Health Plan It refers to the health plan created on December 1, 1996, exclusively to cover former retired employees, pensioners, amnesties, ex-combatants, widows of labor accident victims and retirees until March 20, 1997 and their respective legal dependents. Since then, the health plan has not allowed the inclusion of new beneficiaries. The Plan is sponsored by CSN. The amounts recognized in the balance sheet were determined as follows: Schedule of post-employment health care plan amounts 12/31/2022 12/31/2021 12/31/2020 Present value of obligations 537,290 584,288 678,880 Liabilities 537,290 584,288 678,880 The reconciliation of health benefit liabilities is as follows: Schedule of reconciliation of the healthcare liabilities 12/31/2022 12/31/2021 12/31/2020 Actuarial liability at the beginning of the year 584,288 678,880 892,396 Expenses recognized in income for the year 57,926 42,355 57,731 Sponsor’s contributions transferred in prior year (62,213) (73,324) (81,340) Recognition of actuarial loss/(gain) (42,711) (63,623) (189,907) Actuarial liability at the end of the year 537,290 584,288 678,880 The actuarial gains and losses recognized in equity are as follows: Schedule of actuarial gains and losses recognized in shareholders' equity 12/31/2022 12/31/2021 12/31/2020 Actuarial gain (loss) on obligation (42,711) (63,623) (189,907) Gain/(loss) recognized in shareholders' equity (42,711) (63,623) (189,907) Below is the weighted average life expectancy based on the mortality table used to determined actuarial obligations: Schedule of weighted average life expectancy 12/31/2022 12/31/2021 12/31/2020 Longevity at age of 65 for current participants Male 20.24 20.24 20.24 Female 20.24 20.24 20.24 Longevity at age of 40 for current participants Male 42.74 42.74 42.74 Female 42.74 42.74 42.74 The actuarial assumptions used to calculate post-employment health benefits were: Schedule of actuarial assumptions used for calculating postemployment healthcare benefits 12/31/2022 12/31/2021 Biometric and Demographic General mortality table AT 2000 segregated by gender 20% AT 2000 segregated by gender 20% Financial Actuarial nominal discount rate 6.10 10.55 Inflation 5.31 5.03 Real increase in medical costs based on age (Aging Factor) 0,5% - 3,00% real a.a. 0,5% - 3,00% real a.a. Nominal increase medical costs growth rate 4.10 4.10 Average medical cost (Claim cost) 1,084.14 1,011.42 30.g) Sensitivity analysis The quantitative sensitivity analysis for significant assumptions for the post-employment health plans as of December 31, 2022 is as follows: Schedule of quantitative sensitivity analysis for significant assumptions 12/31/2022 Healthcare Plan Assumption: Discount rate Sensitivity level 0.5 -0.5 Effect on current service cost and on interest on actuarial obligations 489 (529) Effect on present value of obligations (17,379) 18,672 Assumption: Medical Inflation Sensitivity level 1.0 -1.0 Effect on current service cost and on interest on actuarial obligations 4,923 (4,334) Effect on present value of obligations 41,959 (36,932) Assumption: Mortality Table Sensitivity level +1 ano - 1 ano Effect on current service cost and on interest on actuarial obligations 3,755 (3,556) Effect on present value of obligations 32,004 (30,305) Following are the expected benefits for future years of the post-employment health plans: Schedule of forecast benefit payments of the postemployment healthcare plans Forecast benefit payments 12/31/2022 Year 1 67,596 Year 2 64,264 Year 3 60,913 Year 4 57,523 Year 5 54,116 Next 5 years 220,269 Total forecast payments 524,681 Accounting Policy Long-term employee benefits A defined contribution plan is a post-employment benefit plan under which the Company pays contributions to CBS, obligations for contributions to defined contribution pension plans are recognized as employee benefit expenses in the income statement during the periods during which services are provided by employees. In this modality, the Company will have no legal or constructive obligation to pay additional amounts, as the risks fall on employees. In the defined benefit plan, obligations are assessed annually by independent actuaries, the unit credit method is used in the calculation, the assumptions for the calculation include biometric, demographic, financial and economic assumptions. The discount rate is applied to define the present value of the defined benefit obligations, the fair value of the assets is also determined. The amount recognized in the Company’s balance sheet is the net of obligations after the discount rate less the fair value of the assets. When the calculation results in a benefit to the Company, the asset to be recognized is limited to the total amount of any past unrecognized service costs and the present value of the economic benefits available in the form of future plan reimbursements or reduction in future plan contributions. Actuarial gains and losses resulting from defined benefit plans are recognized immediately in other comprehensive income. In the event of extinction of the plan, the accumulated actuarial gains and losses are recorded in income. Short-term employee benefits Payments of benefits such as salary or vacation, as well as the respective labor charges on these benefits are recognized monthly in the income statement, respecting the accrual basis. Employees’ profit sharing and executives’ variable remuneration are linked to the achievement of operational and financial goals. The Company recognizes a liability and an expense substantially when these goals are achieved by allocating them to the cost of production or operating expenses. |
COMMITMENTS
COMMITMENTS | 12 Months Ended |
Dec. 31, 2022 | |
Commitments | |
COMMITMENTS | 31. COMMITMENTS 31.a) Take -or As of December 31, 2022 and 2021, the Company was a party to take-or-pay contracts as shown in the following table: Schedule of take-or-pay contracts Payments in the period Type of service 2021 2022 2023 2024 2025 After 2025 Total Transportation of iron ore, coal, coke, steel products, cement and mining products. 1,351,564 1,568,658 1,621,040 1,645,983 1,658,897 1,306,279 6,232,199 Supply of power, natural gas, oxygen, nitrogen, argon and iron ore pellets. 1,546,308 2,191,442 1,618,085 1,423,546 330,600 740,584 4,112,815 Processing of slag generated during pig iron and steel production. 73,983 84,140 54,163 8,024 62,187 Manufacturing, repair, recovery and production of ingot casting machine units. 3,499 Oil Storage and Handling 2,489 2,567 2,893 723 3,616 Labor and consultancy services 33,375 33,300 33,712 33,712 26,089 130,443 223,956 3,011,218 3,880,107 3,329,893 3,111,988 2,015,586 2,177,306 10,634,773 31.b) Projects and other commitments · Transnordestina project The Transnordestina project which corresponds to rail network II of the Northeast Railway System, includes building 1,753 km of new, next-generation, wide-gauge tracks. The project posts an evolution of 48% progress which was expected to completion for 2017, completion period currently under discussion with the responsible agencies. After extensive negotiations involving ANTT, TCU and the then Ministry of Infrastructure, on December 23, 2022, the first amendment to the Concession Agreement was signed, which redefined the scope and deadlines for completion of the TLSA sections, notably to provide for the return of the section Salgueiro-Porto de Suape (SPS), which results in a project with the current 1,206 km of rail network and completion deadline up to December 2029. This act also ended the discussion of the administrative procedure for expiry recommendation, which was being processed by the National Ground Transportation Agency (“ANTT”). The Company expects that the investments will allow Transnordestina Logística S.A. (“TLSA”), the concessionaire that owns the Transnordestina Project, to transport various products, such as soybeans, corn, iron ore, limestone, cotton, sugar cane, fertilizers, oil and fuels. The concession period ends in 2057 and may be terminated before that period if the concessionaire reaches the minimum return agreed with the Government. TLSA has obtained the environmental authorizations required and implementation is advanced, “Phase I” has been concluded in the stretch from the state of Piauí to the city of São Miguel do Fidalgo and the superstructure and infrastructure works in the stretch from the state of Ceará are in progress. · FTL – Ferrovia Transnordestina Logística S.A. (Operational network) In relation to Malha I, operated by FTL - Ferrovia Transnordestina Logística S.A. (“FTL”), in July 2022, the Company filed the request for an Early Extension of the concession contract for additional 30 years, which is based on compliance with legal requirements and the goals established by ANTT regarding production volume and safety. Thus, despite the existence of an administrative procedure by ANTT which, in 2013, resulted in the recommendation of expiry of the concession contract, there was a decision issued on 12/13/2022 by the Court of Auditors - TCU, Judgment 2769/2022, which determined that ANTT and Ministry of Infrastructure, subject to their respective competences, adopt measures with a view to the definitive solution of the Concession Contract for the network granted to FTL. Therefore, in view of the positive environment of negotiations for the concession contract, as well as the growth of FTL, with the achievement of production records and Ebitda, the company considers the Early Extension of the concession contract probable in order to definitively resolve the aforementioned contractual issues. |
INSURANCE
INSURANCE | 12 Months Ended |
Dec. 31, 2022 | |
Insurance | |
INSURANCE | 32. INSURANCE In order to adequately mitigate risks and in view of the nature of its operations, the Company contracts several different types of insurance policy. The policies are taken out in line with the Risk Management policy and are similar to the insurance taken out by other companies in the same industry in which CSN and its subsidiaries operate. The coverages of these policies include: National Transport, International Transport, Life and Personal Accident Insurance, Health, Vehicle Fleet, D&O (Administrators Liability Insurance), General Civil Liability, Engineering Risks, Export Credit, Insurance Warranty and Civil Liability Port Operator. The Company's insurance is contracted together with the insurance of its subsidiaries, but there is no joint or subsidiary responsibility between the Company and companies of its economic group with CSN Mineração. In 2022, after negotiations with insurers and reinsurers in Brazil and abroad, an Operational Risk Insurance Policy for Property Damage and Business Interruption was issued, effective from July 1, 2022, to June 30, 2023. Under the policy, the Maximum Indemnity Limit is US$ 600 385 The risk assumptions adopted, in view of their nature, are not part of the scope of the audit of these financial statements, and consequently, they have not been audited by our independent auditors. |
ADDITIONAL INFORMATION TO CASH
ADDITIONAL INFORMATION TO CASH FLOWS | 12 Months Ended |
Dec. 31, 2022 | |
Additional Information To Cash Flows | |
ADDITIONAL INFORMATION TO CASH FLOWS | 33. ADDITIONAL INFORMATION TO CASH FLOWS The following table provides additional information about transactions related to the statement of cash flows: Schedule of additional information related to statement of cash flows Consolidated 12/31/2022 12/31/2021 12/31/2020 Income tax and social contribution paid 3,100,349 3,062,047 542,877 Addition to PP&E with interest capitalization (notes 11 and 28) 135,242 87,414 92,506 Remeasurement and addition – Right of use (note 11 i) 125,946 171,215 109,993 Addition to PP&E without adding cash 60,329 69,788 30,345 Capitalization in subsidiaries without cash 367,000 104,809 Addition to investment property without cash effect 61,597 Net additional cash 3,788,866 3,390,464 942,127 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Dec. 31, 2022 | |
Subsequent Events | |
SUBSEQUENT EVENTS | 34. SUBSEQUENT EVENTS · Advances from customers On January 16, 2023, the subsidiary CSN Mineração concluded the negotiations for a long-term iron ore supply contract entered into with an international trading company. The transaction involves a cash advance in the amount of US$500 million referring to a contract for the supply of approximately 13 million tons of iron ore, to be executed within a period of four years, whose advance receipt will occur when certain conditions precedent, usual for this type of transaction, are fulfilled. · Decision handed down by the Federal Supreme Court (STF) on res judicata in tax matter On February 8, 2023, the Federal Supreme Court (STF) concluded the judgment of Matters 881 and 885, in the sense that a final individual decision on taxes collected on a continuous basis loses its effects from a decision of the Court contrary to that of the STF, handed down in notice of claim of unconstitutionality or binding effects. Based on the position of the STF and official Memorandum 1/2023, issued by the Brazilian Securities and Exchange Commission (CVM), the company and the external legal advisors assessed the issue and the impacts on its contingencies and based on the advisors' information, informs that at this time no claims have been identified that could have an impact on its financial statements. · Pre-Payment Export Financing Agreement On March 30, 2023, the subsidiary CSN Mineração, entered into a Pre-Payment Export Financing Agreement, totaling up to US$ 1.4 billion and a final term of 12 years, with up to US$ 980 million to be granted by Japan Bank, and up to US$ 420 million to be granted by a syndicate of banks formed by BNP Paribas, Citibank, Crédit Agricole Corporate & Investment Bank, JP Morgam Chase Bank, Sumitomo Mitsui Trust Bank/NY and Sumitomo Mitsui Banking Corporation, secured by Nippon Export and Investment Insurance (“NEXI”). This operation aims to support CSN Mineração in its project to build a new pellet feed plant (P15) in the Casa de Pedra mine, aiming to ensure the supply of high-quality iron ore to its customers, helping in their decarbonization strategies for the steel sector. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
Summary Of Significant Accounting Policies | |
Declaration of conformity | 2.a) Declaration of conformity The consolidated financial statements have been prepared and are being presented in accordance with International Financial Reporting Standards (“IFRS”) issued by the International Accounting Standard Board (IASB) and highlight all the relevant information at the financial statements, and only this information, which correspond to those used by the Company's management in its activities |
Basis of presentation | 2.b) Basis of presentation The financial statements were prepared based on the historical cost and were adjusted to reflect: (i) the fair value measurement of certain financial assets and liabilities (including derivative instruments), as well as pension plan assets; and (ii) impairment losses. When IFRS allows an option between cost or another measurement criterion, the cost of acquisition criterion was used. The preparation of these financial statements requires Management to use certain accounting estimates, judgments and assumptions that affect the application of Accounting Polices and the amounts reported on the balance sheet date of assets, liabilities, income, and expenses may differ from actual future results. The assumptions used are based on history and other factors considered relevant and are reviewed by the Company’s management. The accounting policies and critical estimates, when applicable and relevant, are included in the respective explanatory notes and are consistent with the previous year presented, as shown below: · Note 3 - Definition of assumptions in business combinations; · Note 6 - Allowance for expected losses (impairment) of trade receivables; · Note 10.e - Recoverability test of investment in Transnordestina Logística S.A. (“TLSA”); · Note 12 - Goodwill impairment test; · Note 14.e - Derivative financial instruments and hedge accounting; · Note 18.e - Recoverability test of deferred income tax and social contribution; · Note 20 - Provisions for tax, social security, labor and civil risks; · Note 21 - Provisions for environmental liabilities and asset retirement obligations; · Note 30 - Employee benefits. The consolidated financial statements were approved by Board of Directors on April 27, 2023. |
Functional currency and presentation currency | 2.c) Functional currency and presentation currency The accounting records included in the financial statements of each of the Company’s subsidiaries are measured using the currency of the principal of the economic environment in which each subsidiary operates (“the functional currency”). The consolidated financial statements are presented in R$ (reais), which is the Company’s functional currency and the Group’s presentation currency. Foreign currency transactions are translated into the functional currency using the exchange rates prevailing on the transaction or valuation dates, in which the items are remeasured. The balances of the asset and liability accounts are converted using the exchange rate prevailing at the balance sheet date. As of December 31, 2022, US$ 1 5.2177 5.5805 1 5.5694 6.3210 |
Accounting policies | 2.d) Accounting policies The significant accounting policies applied in the preparation of these financial statements have been included in the respective notes and are consistent for all years presented. |
Adoption of new and revised International Financial Reporting Standards (IFRS) | 2.e) Adoption of new and revised International Financial Reporting Standards (IFRS) The Company has not adopted new accounting policies in the current year. Additionally, some accounting standards and interpretations were recently issued, but are not yet effective for the year. The Company has not early adopted any of these standards and does not expect that they will have a material impact on the financial statements of subsequent fiscal years. |
BUSINESS COMBINATION (Tables)
BUSINESS COMBINATION (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
IfrsStatementLineItems [Line Items] | |
Schedule of determination of purchase | Schedule of determination of purchase price Item Comment BRL thousand Reference Equity interests issued The Prada issued new shares that were delivered to Metalgrafica's shareholders 263 (a) Equity interests issued The Metalgrafica issued new shares which were acquired by Prada 133,100 (b) Purchase price considered for the business combination 133,363 a) Prada approved a capital increase in the amount of R$ 263 571,251 |
Schedule of fair value measurement | Schedule of fair value measurement Equity value - Metalgráfica date base - 03/31/2022 Discounted Cash Flow 59,353 Discounted residual value 33,973 Enterprise value 93,326 Indebtdness net (109,133) Non-operating assets/liabilities 16,070 Equity value 263 b) Metalgráfica's Board of Directors approved on September 6, 2022 the capital increase in the amount of R$ 133,100 122,110,092 |
Schedule of goodwill on acquisition | Schedule of goodwill on acquisition Item BRL thousand Reference Purchase price considered 133,363 (i) Fair value of the assets and liabilities acquired 121,948 (iii) Goodwill based on expectations for future profitability (note 12) 11,415 |
Schedule of Fair value of assets acquired and liabilities assumed | Schedule of fair value of assets acquired and liabilities assumed (R$'000) Accounting Balances Proforma Adjustment Fair value adjustment Total fair value Current Assets 23,924 133,100 157,024 Cash and cash equivalents 569 569 Trade receivables 7,249 7,249 Inventories 4,435 4,435 Other assets 713 133,100 133,813 Recoverable taxes and contributions 10,958 10,958 Non-current Assets 58,408 72,184 130,592 Recoverable taxes and contributions 38,649 38,649 Other assets 1,856 1,856 Investments 10 10 Property, plant and equipment 17,750 72,184 89,934 Intangibles 143 143 Total assets acquired 82,332 133,100 72,184 287,616 Current Liabilities 134,464 134,464 Borrowings and financing 89,852 89,852 Trade payables 17,114 17,114 Labor obligations 17,339 17,339 Taxes payable 181 181 Advances from customers 1,158 1,158 Installments 2,227 2,227 Other accounts 6,593 6,593 Non-current Liabilities 31,204 31,204 Borrowings and financing 21,844 21,844 Installments 6,462 6,462 Other accounts 2,898 2,898 Total liabilities assumed 165,668 165,668 Net equity acquired (83,336) 133,100 72,184 121,948 |
Schedule of fair value allocated amounts composition | Schedule of fair value allocated amounts composition Assets acquired Valuation method Carrying amounts Fair value adjustment Total fair value Property, plant and equipment The values of fixed assets were adjusted by the difference between the revalued value of f ixed assets and their respective net book value, according to a technical evaluation carried out by an independent appraiser for the groups of assets represented by buildings, vehicles, furniture and fixtures. The useful lives follow the terms disclosed in note 11. 17,750 72,184 89,934 17,750 72,184 89,934 |
Schedule Of Fair Value Allocation Composition | Schedule Of Fair Value Allocation Composition Assets acquired Valuation method Carrying amounts Fair value adjustment Total fair value Property, plant and equipment The values of fixed assets were adjusted by the difference between the revalued value of fixed assets and their respective net book value, according to a technical evaluation carried out by an independent appraiser for the groups of assets represented by improvements constructions, vehicles, furniture and fixtures. The useful lives follow the terms disclosed in note 12. 201,424 (68,835) 132,589 Intangible assets Evaluated by the MPEEM method that measures the present value of future income to be generated during the remaining useful life of a given asset. Using the analysis of the company's projected results as a reference, the pre-tax cash flows directly attributable to the asset are calculated, as of the base date stipulated in the evaluation. 328,437 328,437 201,424 259,602 461,026 |
C S N Cimentos Brasil S A [Member] | |
IfrsStatementLineItems [Line Items] | |
Schedule of Fair value of assets acquired and liabilities assumed | Schedule of Fair value of assets acquired and liabilities assumed CSN Cimentos Brasil Carrying amounts Fair value adjustments Total fair value Cash and cash equivalents 496,445 496,445 Trade receivables 141,266 141,266 Inventories 272,106 272,106 Recoverable taxes 229,940 229,940 Deferred taxes 982,547 982,547 Other assets 147,565 147,565 Property, plant and equipment 3,185,975 402,289 3,588,264 Intangíible assets 7,429 173,586 181,015 Total assets acquired 5,463,273 575,875 6,039,148 Trade payables 510,522 510,522 Lease liabilities 43,978 43,978 Taxes payable 50,527 50,527 Salaries and social charges 32,324 32,324 Other payables 139,830 139,830 Taxes in installments 148,249 148,249 Legal Contingencies 491,114 491,114 Total liabilities assumed 1,416,544 1,416,544 Net equity acquired 4,046,729 575,875 4,622,604 CSN Cimentos S.A. has engaged an independent company to prepare an appraisal report on the tangible and intangible assets and allocation of the excess price paid. The fair value allocation resulted in a gain totaling R$ 575,875 Assets acquired Valuation method Carrying amounts Fair value adjustment Total fair value Property, plant and equipment Valued using the "MARKET APPROACH" method, where the fair value of the asset is estimated by comparing it with similar or comparable assets that have been sold or listed for sale in the primary or secondary market. 3,185,975 402,289 3,588,264 Mining rights Evaluated by the MPEEM method that measures the present value of future income to be generated during the remaining useful life of a given asset. Using the analysis of the company's projected results as a reference, the pre-tax cash flows directly attributable to the asset are calculated, as of the base date stipulated in the evaluation. 2,456 135,216 137,672 Trademarks The brands were evaluated using the Royalty Relief method, which consists in projecting expected royalty payments and measuring them at present value. 38,370 38,370 Softwares The Company's software has not been evaluated. 4,973 4,973 3,193,404 575,875 3,769,279 |
Santa Ana Energetica And Topazio Energetica S A [Member] | |
IfrsStatementLineItems [Line Items] | |
Schedule of determination of purchase | Schedule of determination of purchase price Item Comment Santa Ana Energética Topázio Enérgetica Reference Assets transferred In the transaction, a payment in the amount of R$466,153 was made. 37,292 428,861 (i) Purchase price considered for the business combination 37,292 428,861 (i) On June 30, 2022, the transaction was concluded with the payment by CSN Cimentos and CSN Energia in the amount of R$ 466,153 |
Schedule of Fair value of assets acquired and liabilities assumed | Schedule of fair value of assets acquired and liabilities assumed Santa Ana Energética Topázio Enérgetica (R$'000) Carrying amounts Fair value adjustments Total fair value Carrying amounts Fair value adjustments Total fair value Cash and cash equivalents 1,602 1,602 3,493 3,493 Trade receivables 13 13 199 199 Inventories 422 422 647 647 Recoverable taxes 2 2 87 87 Other assets 21 21 Property, plant and equipment (1) 28,163 10,482 38,645 173,494 (79,317) 94,177 Intangíible assets (1) (3,200) (3,200) 331,637 331,637 Total assets acquired 30,202 7,282 37,484 177,941 252,320 430,261 Accounts payable 2 2 179 179 Taxes payable 72 72 821 821 Salaries and social charges 167 167 Other payables 92 92 Leases 26 26 233 233 Total liabilities assumed 192 192 1,400 1,400 Net equity acquired 30,010 7,282 37,292 176,541 252,320 428,861 1 - Refer to a PP&E impairment recognized in Topázio and a recognition of an onerous contract related to prior concession agreement of Santa Ana. |
Estadualde Geracaode Energia Eletrica [Member] | |
IfrsStatementLineItems [Line Items] | |
Schedule of determination of purchase | Schedule of determination of purchase price Item Comment BRL thousand Reference Assets transferred Payment made at the conclusion of the transaction 928,000 (i) Purchase price considered for the business combination 928,000 (i) On October 21, 2022, the transaction was concluded with the payment by the Company of R$ 928,000 |
Schedule of Fair value of assets acquired and liabilities assumed | Schedule of fair value of assets and liabilities assumed (R$'000) Carrying amounts Fair value adjustments Total fair value Cash and cash equivalents 661,864 661,864 Trade receivables 51,333 51,333 Inventories 2,636 2,636 Recoverable taxes 5,043 5,043 Other assets 125,516 125,516 Judicial deposits and guarantees 59,335 59,335 Investments 312,800 359,024 671,824 Property, plant and equipment 31,853 31,853 Intangíible assets 2,041,196 17,270 2,058,466 Total assets acquired 3,291,576 376,294 3,667,870 Trade payables 22,928 22,928 Taxes payable 19,951 19,951 Salaries and social charges 16,343 16,343 Deferred taxes (65,560) (65,560) Judicial contingencies 306,400 306,400 Other payables 134,380 134,380 Bonus grant payable 2,024,118 2,024,118 Total liabilities assumed 2,458,560 2,458,560 Net equity acquired 833,016 376,294 1,209,310 Equity acquired (66.23%) 551,706 376,294 928,000 The subsidiary Companhia Florestal do Brasil S.A. has engaged an independent company to prepare an appraisal report on the tangible and intangible assets (basically concession agreement) and allocation of the excess price paid. The fair value allocation resulted in an adjustment totaling R$ 376,294 Assets acquired Valuation method Carrying amounts Fair value adjustment Total fair value Investments Initially evaluated by the FDC - Discounted Cash Flow method for each investment, however, certain stakes are tied to purchase options with third parties at prices predetermined in the auction notice. Therefore, the fair value of these investments was measured considering the lower of the value identified in the FDC and the value of the purchase option 312,800 359,024 671,824 Intangible assets Evaluated by the MPEEM method that measures the present value of future income to be generated during the remaining useful life of a given asset. Using the analysis of the company's projected results as a reference, the pre-tax cash flows directly attributable to the asset are calculated, as of the base date stipulated in the evaluation. 2,041,196 17,270 2,058,466 2,353,996 376,294 2,730,290 |
C S N Cimentos Brasil S A [Member] | |
IfrsStatementLineItems [Line Items] | |
Schedule of determination of purchase | Schedule of determination of purchase Item Comment CSN Cimentos Brasil Reference Assets transferred In the transaction, a payment in the amount of US$960,733 was made 5,013,436 (i) Purchase price considered for the business combination 5,013,436 (i) On the date of its completion, the transaction included (i) the transfer to the sellers of the amount of US$ 50,000 261,140 910,733 4,752,296 960,733 5,013,436 |
Schedule of goodwill on acquisition | Schedule of goodwill on acquisition Item CSN Cimentos Brasil S.A. Reference Purchase price considered 5,013,436 item (i) Fair value of the assets and liabilities acquired 4,622,604 item (iii) Goodwill based on expectations for future profitability (note 12) 390,832 |
Companhia Energetica Chapeco [Member] | |
IfrsStatementLineItems [Line Items] | |
Schedule of determination of purchase | Schedule of determination of purchase Item Comment BRL thousand Reference Assets transferred Payment made upon acquisition 358,634 (i) Purchase price considered for the business combination 358,634 (i) On October 7, 2022, the transaction was completed with the payment of R$358,634 by CSN Mineração and CSN Energia. |
Schedule of Fair value of assets acquired and liabilities assumed | Schedule of Fair value of assets acquired and liabilities assumed (R$'000) Carrying amounts Fair value adjustment Total fair value Assets Cash and cash equivalents 41,693 41,693 Trade receivables 5,745 5,745 Other assets 246 246 Recoverable taxes and contributions 5,420 5,420 Deferred taxes 9,521 9,521 Judicial deposits 151 151 Property, plant and equipment 106,695 195,026 301,721 Intangíible assets 104,499 83,610 188,109 Total assets acquired 273,970 278,636 552,606 Liabilities Trade payables 157 157 Labor obligations 364 364 Taxes payable 1,945 1,945 Concession payable 12,281 12,281 Other accounts 1,567 1,567 Advances from customer 100,012 100,012 Concession payable 77,646 77,646 Total liabilities assumed 193,972 193,972 Total equity acquired 79,998 278,636 358,634 CSN Mineração has engaged an independent company to prepare an appraisal report on the tangible and intangible assets (basically concession and energy sales agreements) and allocation of the excess price paid. The fair value allocation resulted in a gai totaling R$ 278,636 Assets acquired Valuation method Carrying amounts Fair value adjustment Total fair value Property, plant and equipment The values of fixed assets were adjusted by the difference between the revalued value of fixed assets and their respective net book value, according to a technical evaluation carried out by an independent appraiser for the groups of assets represented by buildings, vehicles, furniture and fixtures. The useful lives follow the terms disclosed in note 11 106,695 195,026 301,721 Intangible assets Evaluated by the MPEEM method that measures the present value of future income to be generated during the remaining useful life of a given asset. Using the analysis of the company's projected results as a reference, the pre-tax cash flows directly attributable to the asset are calculated, as from the base date stipulated in the evaluation and Incremental Cash Flow, where the economic gain generated by the spread between the contract value and the spot value of energy was the basis of a free cash flow. 104,499 83,610 188,109 211,194 278,636 489,830 |
Elizabeth Cimentos And Elizabeth Mineracao [Member] | |
IfrsStatementLineItems [Line Items] | |
Schedule of determination of purchase | Schedule of determination of purchase Item Comment Elizabeth Cimentos Elizabeth Mineração Reference Assets transferred A payment in the amount of R$201 milion is being carried out in the transaction. 77,768 123,947 (i) Assets transferred Refers to financial adjustment of working capital and debt (3,914) (5,116) (i) Equity interests issued Shares issued by Elizabeth Cimentos and acquired by CSN Cimentos. 526,037 (ii) Purchase price considered for the business combination 599,891 118,831 (i) The transaction included payments by CSN Cimentos of R$77,768 and R$123,947 on August 31, 2021, and an adjustment in the amount of R$3,914 and R$5,116, received in December 2021 related to working capital adjustment provided for in the sale agreement. (ii) In August 2021, Elizabeth Cimentos performed a primary issuance of 2,382,758,512 new common shares, nominative and with no par value, which were subscribed and paid in by CSN Cimentos. |
Schedule of goodwill on acquisition | Schedule of goodwill on acquisition Item Reference Elizabeth Cimentos Elizabeth Mineração Purchase price considered item (i) and (ii) 599,891 118,831 Fair value of the assets and liabilities acquired 516,625 118,831 Goodwill for future profitability expected 83,266 - |
Schedule of Fair value of assets acquired and liabilities assumed | Schedule of Fair value of assets acquired and liabilities assumed Elizabeth Cimentos Elizabeth Mineração Carrying amounts Fair value adjustments Total fair value Carrying amounts Fair value adjustments Total fair value Cash and cash equivalents 52,571 52,571 2,197 2,197 Trade receivables 27,571 27,571 1,027 1,027 Receivables from related parties 96,374 96,374 9,035 9,035 Inventories 44,157 44,157 1,017 1,017 Recoverable taxes 18,616 18,616 931 931 Short-term investments 14,689 14,689 Other assets 17,733 17,733 673 673 Investment 40,653 24,845 65,498 Property, plant and equipment 373,574 161,367 534,941 15,092 77,089 92,181 Intangíible assets 798 59,456 60,254 500 269,385 269,885 Total assets acquired 646,083 220,823 866,906 71,125 371,319 442,444 Borrowings and financing 198,778 198,778 182,402 182,402 Trade payables 22,735 22,735 446 446 Taxes payable 19,202 19,202 37,158 37,158 Debits with related parties 96,350 96,350 Other payables 44,052 44,052 7,257 7,257 Total liabilities assumed 284,767 284,767 323,613 323,613 Net equity acquired 361,316 220,823 582,139 (252,488) 371,319 118,831 Indirect investiment (40,663) (24,851) (65,514) Net equity acquired 320,653 195,972 516,625 (252,488) 371,319 118,831 The fair value allocation resulted in an adjustment totaling R$ 567,297 Assets acquired Valuation method Carrying amounts Fair value adjustment Total fair value Property, plant and equipment Valued using the "MARKET APPROACH" method, where the fair value of the asset is estimated by comparing it with similar or comparable assets that have been sold or listed for sale in the primary or secondary market. 388,666 238,456 627,122 Mining rights Evaluated by the MPEEM method that measures the present value of future income to be generated during the remaining useful life of a given asset. Using the analysis of the company's projected results as a reference, the pre-tax cash flows directly attributable to the asset are calculated, as of the base date stipulated in the evaluation. 500 269,385 269,885 Licenses Valued using the WITH / WITHOUT method, which estimates the intangible value by the difference between discounted cash flow models with and without the asset. 798 59,456 60,254 389,964 567,297 957,261 |
CASH AND CASH EQUIVALENTS (Tabl
CASH AND CASH EQUIVALENTS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Cash and cash equivalents [abstract] | |
Schedule of cash and cash equivalents | Schedule of cash and cash equivalents Consolidated 12/31/2022 12/31/2021 Cash and banks In Brazil 85,120 68,638 Abroad 6,310,338 10,007,399 6,395,458 10,076,037 Investments In Brazil 5,110,749 6,493,832 Abroad 485,149 76,611 5,595,898 6,570,443 11,991,356 16,646,480 |
FINANCIAL INVESTMENTS (Tables)
FINANCIAL INVESTMENTS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Financial Investments | |
Schedule of financial investment | Schedule of financial investment Consolidated Current Non-current 12/31/2022 12/31/2021 12/31/2022 12/31/2021 Investments (1) 271,590 261,673 15,675 15,148 Usiminas shares (2) 1,184,895 2,383,059 Bonds (3) 140,510 132,523 1,456,485 2,644,732 156,185 147,671 (1) Comprised of restricted financial investments and linked to a Bank Deposit Certificate (CDB) to guarantee a letter of guarantee from financial institutions and financial investments in Public Securities (LFT - Letras Financeiras do Tesouro) managed by their exclusive funds. (2) Part of the shares of Usiminas Siderúrgica de Minas Gerais S.A. held by the Company guarantees a portion of the Company’s debt. (3) Bonds with Fibra bank due in February 2028 (see note 22.b). |
TRADE RECEIVABLES (Tables)
TRADE RECEIVABLES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Trade Receivables | |
Schedule of trade receivables | Schedule of trade receivables Consolidated 12/31/2022 12/31/2021 Trade receivables Third parties Domestic market 1,636,804 1,218,179 Foreign market 1,720,056 1,472,190 3,356,860 2,690,369 Estimated losses on doubtful debts (232,830) (236,927) 3,124,030 2,453,442 Related parties (note 22 b) 109,134 144,396 3,233,164 2,597,838 |
Schedule of gross trade receivables from third parties | Schedule of gross trade receivables from third parties Consolidated 12/31/2022 12/31/2021 Current 2,934,057 2,255,200 Past-due up to 30 days 163,959 164,019 Past-due up to 180 days 54,452 67,822 Past-due over 180 days 204,392 203,328 3,356,860 2,690,369 |
Schedule of allowance for doubtful debts | Schedule of allowance for doubtful debts Consolidated 12/31/2022 12/31/2021 Opening balance (236,927) (228,348) (Loss)/Reversal estimated (87) 1,755 Recovery and write-offs of receivables 13,197 6,287 Consolidation in the acquisition of companies (9,013) (16,621) Closing balance (232,830) (236,927) |
INVENTORIES (Tables)
INVENTORIES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Inventories Abstract | |
Schedule of inventory | Schedule of inventory Consolidated 12/31/2022 12/31/2021 Finished goods 4,421,166 4,457,842 Work in progress 3,501,145 2,710,149 Raw materials 3,297,213 3,638,952 Storeroom supplies 1,174,244 770,296 Advances to suppliers 37,619 121,519 Provision for losses (96,493) (98,730) 12,334,894 11,600,028 Classified: Current 11,289,229 10,943,835 Non-current (1) 1,045,665 656,193 12,334,894 11,600,028 (1) Long-term iron ore inventories that will be used after the construction of the processing plant, which will produce pellet feed. |
Schedule of changes in expected losses on inventories | Schedule of changes in expected losses on inventories Consolidated 12/31/2022 12/31/2021 Opening balance (98,730) (109,038) Reversal of inventories with low turnover and obsolescence 3,621 10,308 Consolidation in the acquisition of companies (1,384) Closing balance (96,493) (98,730) |
RECOVERABLE TAXES (Tables)
RECOVERABLE TAXES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Recoverable Taxes | |
Schedule of recoverable taxes | Schedule of recoverable taxes Consolidated 12/31/2022 12/31/2021 State Value-Added Tax 1,130,843 1,162,900 Brazilian federal contributions (1) 1,862,828 1,352,100 Other taxes 189,087 105,375 3,182,758 2,620,375 Classified: Current 1,865,626 1,655,349 Non-current 1,317,132 965,026 3,182,758 2,620,375 (1) In a judgment finalized on September 24, 2021, the Federal Supreme Court, with general repercussion, decided for the unconstitutionality of the levy of IRPJ and CSLL on amounts of interest on arrears at the SELIC rate received because of the repetition of undue tax payment. Although the decision is still pending publication, and the Company's specific lawsuit is still pending judgment, based on its best estimate to date CSN reassessed the judgment on this lawsuit, as required by IFRIC 23 and recorded a credit in the amount of R$ 229,000 |
OTHER CURRENT AND NON-CURRENT_2
OTHER CURRENT AND NON-CURRENT ASSETS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Other Current And Non-current Assets | |
Schedule of other current and non current assets | Schedule of other current and non current assets Consolidated Current Non-current 12/31/2022 12/31/2021 12/31/2022 12/31/2021 Judicial deposits (note 20) 533,664 339,805 Prepaid expenses 311,087 225,036 47,109 74,503 Prepaid expenses with sea freight 36,783 Actuarial asset (note 22 b) 35,477 59,111 Trading securities 9,596 12,028 Loans with related parties (note 22 b) 5,383 4,511 1,384,773 1,143,228 Other receivables from related parties (note 22 b) 1,858 1,828 1,484,759 927,077 Eletrobrás bonds and compulsory loan (1) 58,030 859,607 Dividends receivables (note 22 b) 77,377 76,878 Employee debts 59,578 43,542 Receivables by indemnity (2) 974,863 534,896 Other 274,838 120,297 231,043 427,528 776,500 484,120 4,749,718 4,365,755 (1) In December 2021, the Company had recorded certain and due amount with Centrais Elétricas Brasileiras S.A. - Eletrobras, relating mainly to interest and monetary adjustment of the Compulsory Loan. In December 2022, the Company received R$ 370,000 367,000 32.74 (2) This is a certain and due amount, resulting from the final and unappealable decision of the Court in favor of the Company in 2020, due to losses and damages resulting from the sinking of the voltage in the supply of energy in the periods from January/1991 to June/2002. Additionally, in the 3 rd 422,254 |
BASIS OF CONSOLIDATION AND IN_2
BASIS OF CONSOLIDATION AND INVESTMENTS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Basis Of Consolidation And Investments | |
Schedule of consolidated entities information | Schedule of consolidated entities information Equity interests (%) Companies 12/31/2022 12/31/2021 Core business Direct interest in subsidiaries: full consolidation CSN Islands VII Corp. 100.00 100.00 Financial transactions CSN Inova Ventures 100.00 100.00 Equity interests and Financial transactions CSN Islands XII Corp. 100.00 100.00 Financial transactions CSN Steel S.L.U. 100.00 100.00 Equity interests and Financial transactions TdBB S.A (*) 100.00 100.00 Equity interests Sepetiba Tecon S.A. 99.99 99.99 Port services Minérios Nacional S.A. 99.99 99.99 Mining and Equity interests Companhia Florestal do Brasil 99.99 99.99 Reforestation Estanho de Rondônia S.A. 99.99 99.99 Tin Mining Companhia Metalúrgica Prada 99.90 99.99 Manufacture of containers and distribution of steel products CSN Mineração S.A. 79.75 78.24 Mining CSN Energia S.A. 99.99 99.99 Sale of electric power FTL - Ferrovia Transnordestina Logística S.A. 92.71 92.71 Railroad logistics Nordeste Logística S.A. 99.99 99.99 Port services CSN Inova Ltd. 100.00 100.00 Advisory and implementation of new development projec CBSI - Companhia Brasileira de Serviços de Infraestrutura 99.99 99.99 Equity interests and product sales and iron ore CSN Cimentos S.A. 99.99 99.99 Manufacturing and sale of cement Berkeley Participações e Empreendimentos S.A. 100.00 100.00 Electric power generation and equity interests CSN Inova Soluções S.A. 99.99 99.99 Equity interests CSN Participações I 99.99 99.99 Equity interests Circula Mais Serviços de Intermediação Comercial S.A. 0.01 99.99 Commercial intermediation for the purchase and sale of assets and materials in general CSN Participações III 99.99 99.99 Equity interests CSN Participações IV 99.99 99.99 Equity interests CSN Participações V 99.99 99.99 Equity interests Indirect interest in subsidiaries: full consolidation Lusosider Projectos Siderúrgicos S.A. 100.00 100.00 Equity interests and product sales Lusosider Aços Planos, S. A. 99.99 99.99 Steel and Equity interests CSN Resources S.A. 100.00 100.00 Financial transactions and Equity interests Companhia Brasileira de Latas 99.99 99.99 Sale of cans and containers in general and Equity interests Companhia de Embalagens Metálicas MMSA 99.99 99.99 Production and sale of cans and related activities Companhia de Embalagens Metálicas - MTM 99.99 99.99 Production and sale of cans and related activities CSN Steel Holdings 1, S.L.U. 1 100.00 Financial transactions, product sales and Equity interests CSN Productos Siderúrgicos S.L. 100.00 100.00 Financial transactions, product sales and Equity interests Stalhwerk Thüringen GmbH 100.00 100.00 Production and sale of long steel and related activities CSN Steel Sections Polska Sp.Z.o.o 100.00 100.00 Financial transactions, product sales and Equity interests CSN Mining Holding, S.L.U. 79.75 78.24 Financial transactions, product sales and Equity interests CSN Mining GmbH 79.75 78.24 Financial transactions, product sales and Equity interests CSN Mining Asia Limited (8) 79.75 78.24 Commercial representation Lusosider Ibérica S.A. 100.00 100.00 Steel, commercial and industrial activities and equity interests CSN Mining Portugal, Unipessoal Lda. 79.75 78.24 Commercial and representation of products Companhia Siderúrgica Nacional, LLC 100.00 100.00 Import and distribution/resale of products Elizabeth Cimentos S.A. 99.98 99.98 Manufacturing and sale of cement Elizabeth Mineração Ltda 2 99.96 Mining Santa Ana Energética S.A. 100.00 Electric power generation Topázio Energética S.A. 100.00 Electric power generation Brasil Central Energia Ltda. 100.00 Electric power generation Circula Mais Serviços de Intermediação Comercial S.A. 99.99 Commercial intermediation for the purchase and sale of assets and materials in general CSN Cimentos Brasil S.A. 99.99 Manufacturing and sale of cement Metalgráfica Iguaçu S.A 100.00 Metal packaging manufacturing Companhia Energética Chapecó 79.75 Electric power generation Companhia Estadual de Geração de Energia Elétrica - CEEE-G 98.96 Electric power generation Ventos de Vera Cruz S.A. 98.95 Electric power generation Ventos de Curupira S.A 98.95 Electric power generation Ventos de Povo Novo S.A. 98.95 Electric power generation Direct interest in joint operations: proportionate consolidation Itá Energética S.A. 48.75 48.75 Electric power generation Consórcio da Usina Hidrelétrica de Igarapava 17.92 17.92 Electric power consortium Direct interest in joint ventures: equity method MRS Logística S.A. 18.64 18.64 Railroad transportation Aceros Del Orinoco S.A. (*) 31.82 31.82 Dormant company Transnordestina Logística S.A. 47.26 47.26 Railroad logistics Equimac S.A 50.00 50.00 Rental of commercial and industrial machinery and equipment Indirect interest in joint ventures: equity method MRS Logística S.A. 14.86 14.58 Railroad transportation Direct interest in associates: equity method Arvedi Metalfer do Brasil S.A. 20.00 20.00 Metallurgy and Equity interests Indirect interest in affiliates: equity method Ventos da Lagoa Energia S.A. 10.00 Electric power generation Jaguari Energética S.A. 10.50 Electric power generation Chapecoense Geração S.A. 9.00 Electric power generation Parques Eólicos Palmares S.A. 10.00 Electric power generation Ventos do Litoral Energia S.A. 10.00 Electric power generation Ventos dos índios Energia S.A. 10.00 Electric power generation Companhia Energética Rio das Antas - Ceran 10.00 Electric power generation Ventos do Sul S.A. 10.00 Electric power generation Foz Chapecó Energia S.A. 10.00 Electric power generation Exclusive funds: full consolidation Diplic II - Private credit balanced mutual fund 100.00 100.00 Investment fund Caixa Vértice - Private credit balanced mutual fund 100.00 100.00 Investment fund VR1 - Private credit balanced mutual fund 100.00 100.00 Investment fund (*) Dormant companies. 1 - CSN Steel Holdings 1, S.L.U. was incorporated by CSN Productos Siderúrgicos S.L. on August 02, 2022 2 - Elizabeth Mineração was incorporated by CSN Cimentos S/A on April 30, 2022. |
Schedule of changes in investments, joint ventures, joint operations, associates and other investments | Schedule of changes in investments, joint ventures, joint operations, associates and other investments Consolidated Companies Opening balance on 12/31/2021 Capital increase Dividends Equity Income Comprehensive income Others Final balance on 12/31/2022 Investments under the equity method Joint-venture, Joint-operation and Affiliate MRS Logistica 1,806,542 (77,403) 325,800 (146) 105 2,054,898 Fair Value MRS 480,622 480,622 Fair Value MRS amortization (70,481) (11,744) (82,225) Transnordestina Logística S.A. 1,114,232 100,000 (29,307) (411) 1,184,514 Fair Value -Transnordestina (*) 271,117 387,989 659,106 Arvedi Metalfer do Brasil (affiliate) 21,541 4,702 (461) 25,782 Equimac S.A 8,428 5,079 3,936 140 899 18,482 Indirect interest in affiliates - CEEE-G - 216,307 216,307 Fair Value indirect participation CEEE-G (1) - 359,024 359,024 Fair Value amortization indirect participation CEEE-G - (25,889) (25,889) 3,632,001 105,079 (77,403) 267,498 (6) 963,452 4,890,621 Equity interests evaluated by the cost method (2) 27,041 14,052 41,093 Investments at fair value through profit or loss (note 14) 190,320 (95,620) 94,700 Others 285 33,303 33,588 Other participations 217,646 14,052 (62,317) 169,381 Total shareholdings 3,849,647 119,131 (77,403) 267,498 (6) 901,135 5,060,002 Classification of investments in the balance sheet Equity interests 3,849,647 5,060,002 Investment Property 162,181 159,080 Total investments in the asset 4,011,828 5,219,082 (*) In 2022, the Company performed an impairment test of the joint venture Transnordestina Logistica S.A. and reversed the impairment of Fair Value of R$ 387,989 (1) As of December 31, 2022, the balance of R$ 359,024 (2) In 2021 and 2022, through CSN Inova Ventures, strategic investments were made in startups, namely: Alinea Health Holdings Ltda. I. Systems Aut. Ind., 2D Materials, H2Pro Ltda, 1S1 Energy, Traive INC., OICO Holdings and Clarke Software; |
Schedule of equity in results | Schedule of equity in results Consolidated 12/31/2022 12/31/2021 Equity in results of affiliated companies MRS Logística S.A. 325,800 260,622 Transnordestina (29,307) (45,870) Arvedi Metalfer do Brasil 4,702 3,265 Equimac S.A 3,936 (608) Fair Value Amortization (37,633) (11,747) 267,498 205,662 Other adjustments Cost of sales (80,006) (62,982) To taxes 27,202 21,414 Others 23,223 18,410 Equity in results 237,917 182,504 |
Schedule of primary distribution of shares | Schedule of primary distribution of shares Gain on participation in the capital increase 1,060,530 Loss due to dilution of participation with issue of new shares (231,044) Equity adjustment by dilution of share percentage (7,393) Net gain from the transaction 822,093 |
Schedule of Secondary Distribution of shares | Schedule of Secondary Distribution of shares Equity in the transaction 9,947,525 Number of share before initial public offering 5,430,057,060 Cost per share R$ 1.83 Number of shares sold by CSN 377,804,907 Price per share R$ 8.50 (+) Net cash generated in the transaction 3,211,342 (-) Transaction cost (46,730) (=) net cash reveivable (a) 3,164,612 (-) Cost of shares (b) (692,115) (=) Net gain from the transaction (a)+(b) 2,472,497 |
Schedule of share repurchase programs of subsidiary CSN Mineracao | Schedule of share repurchase programs of subsidiary CSN Mineracao Program Board’s Authorization Authorized quantity Program period Average buyback price Minimum and maximum buyback price Number bought back Share cancelation Treasury balance 1º 03/24/2021 58,415,015 from 3/25/2021 to 9/24/2021 R$ 6.1451 R$ 5.5825 6.7176 52,940,500 52,940,500 2º 11/03/2021 53,000,000 from 11/04/2021 to 9/24/2022 R$ 6.1644 R$ 5.0392 6.1208 52,466,800 105,907,300 05/18/2022 Not applicable Not applicable 105,907,300 3º 05/18/2022 106,000,000 from 05/19/2022 to 5/18/2023 105,407,300 105,907,300 |
Schedule of breakdown of net assets | Schedule of breakdown of net assets 12/31/2020 01/31/2021 Assets Appraisal reports Close balance Trade receivables 37,171 54,684 Inventories 134,309 164,460 Other assets 29,186 30,228 Property, plant and equipment 3,151,349 3,129,161 Intangíible assets 8,086 8,086 Liabilities Trade payables (253,186) (278,538) Other payables current (42,074) (34,301) Lease liabilities (42,257) (24,430) Other provisions (66,490) (64,125) Net assets 2,956,094 2,985,225 |
Schedule of joint ventures and joint operations financial information | Schedule of joint ventures and joint operations financial information 12/31/2022 12/31/2021 Joint-Venture Joint-Operation Joint-Venture Joint-Operation MRS Logística Transnordestina Logística Equimac S.A. Itá Energética MRS Logística Transnordestina Logística Equimac S.A. Itá Energética Equity interest (%) 37.27% 48.03% 50.00% 48.75% 37.27% 47.26% 50.00% 48.75% Balance sheet Current Assets Cash and cash equivalents 867,937 1,164 8,983 46,946 1,836,612 1,259 2,077 42,500 Advances to suppliers 29,500 21,036 1,384 1,273 44,011 11,486 407 1,254 Other current assets 1,351,335 78,777 11,648 30,735 1,065,913 55,334 8,862 18,453 Total current assets 2,248,772 100,977 22,015 78,954 2,946,536 68,079 11,346 62,207 Non-current Assets Other non-current assets 887,987 255,367 1,643 19,007 980,861 124,776 19,578 Investments, PP&E and intangible assets 11,541,779 11,029,525 41,709 325,911 9,614,144 10,145,422 28,964 358,265 Total non-current assets 12,429,766 11,284,892 43,352 344,918 10,595,005 10,270,198 28,964 377,843 Total Assets 14,678,538 11,385,869 65,367 423,872 13,541,541 10,338,277 40,310 440,050 Current Liabilities Borrowings and financing 735,231 142,073 5,497 767,992 228,769 4,041 Lease liabilities 472,129 701 383,323 Other current liabilities 1,682,928 150,268 5,777 14,326 1,513,799 157,946 4,063 40,473 Total current liabilities 2,890,288 292,341 11,975 14,326 2,665,114 386,715 8,104 40,473 Non-current Liabilities Borrowings and financing 3,604,793 7,142,895 14,446 3,551,278 6,665,700 15,351 Lease liabilities 1,928,931 630 1,718,366 Other non-current liabilities 740,892 1,484,884 1,353 18,914 759,538 928,254 16,098 Total non-current liabilities 6,274,616 8,627,779 16,429 18,914 6,029,182 7,593,954 15,351 16,098 Shareholders’ equity 5,513,634 2,465,749 36,963 390,632 4,847,245 2,357,608 16,855 383,479 Total liabilities and shareholders’ 14,678,538 11,385,869 65,367 423,872 13,541,541 10,338,277 40,310 440,050 01/01/2022 to 12/31/2022 01/01/2021 to 12/31/2021 Joint-Venture Joint-Operation Joint-Venture Joint-Operation MRS Logística Transnordestina Logística Equimac S.A. Itá Energética MRS Logística Transnordestina Logística Equimac S.A. Itá Energética Equity interest (%) 37.27% 48.03% 50.00% 48.75% 37.27% 47.26% 50.00% 48.75% Statements of Income Net revenue 5,592,118 375 41,307 188,024 4,427,385 138 15,238 221,023 Cost of sales and services (3,477,896) (24,977) (100,454) (2,919,527) (13,001) (81,649) Gross profit 2,114,222 375 16,330 87,570 1,507,858 138 2,237 139,374 Operating (expenses) income (243,399) (40,685) (3,769) (77,742) (116,499) (76,543) (3,453) (69,097) Financial income (expenses), net (641,862) (21,551) (3,211) 2,545 (345,513) (20,651) 1,274 Income before income tax and social 1,228,961 (61,861) 9,350 12,373 1,045,846 (97,056) (1,216) 71,551 Current and deferred income tax (354,786) (1,479) (4,408) (346,551) (24,390) Profit / (loss) for the year 874,175 (61,861) 7,871 7,965 699,295 (97,056) (1,216) 47,161 |
Schedule of measurement of recoverable value | Schedule of measurement of recoverable value Cash flow projection By 2057 Gross margin Estimated based on market study to capture cargo and operating costs according to market trend studies Cost estimate Study-based costs and market trends Perpetuity growth rate Growth rate was not considered as a result of the projection model until the end of the concession Discount rate Range from 5.32% to 6.99% in real terms |
Schedule of investment properties | Schedule of investment properties Consolidated Land Buildings Total Balance at December 31, 2020 97,610 86,548 184,158 Cost 97,610 86,548 184,158 Accumulated depreciation (24,284) (24,284) Balance at December 31, 2020 97,610 62,264 159,874 Depreciation (note 26) (3,055) (3,055) Transfer of property, plant and equipment 4,065 1 4,066 Acquisition of Elizabeth 1,296 1,296 Transfers to other asset groups (133) 133 Balance at December 31, 2021 101,542 60,639 162,181 Cost 101,542 87,977 189,519 Accumulated depreciation (27,338) (27,338) Balance at December 31, 2021 101,542 60,639 162,181 Depreciation (note 26) (3,072) (3,072) Write-off (29) (29.00) Balance at December 31, 2022 101,513 57,567 159,080 Cost 101,513 87,977 189,490 Accumulated depreciation (30,410) (30,410) Balance at December 31, 2022 101,513 57,567 159,080 |
Schedule of average estimated useful life | Schedule of average estimated useful life Consolidated 12/31/2022 12/31/2021 Buildings 27 27 |
PROPERTY, PLANT AND EQUIPMENT (
PROPERTY, PLANT AND EQUIPMENT (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Property, plant and equipment [abstract] | |
Schedule of property, plant and equipment | Schedule of property, plant and equipment Consolidated Land Buildings and Infrastructure Machinery, equipment and facilities Furniture and fixtures Construction in progress Right of use (i) Other (*) Total Balance at December 31, 2020 257,686 2,677,565 12,457,383 26,297 3,680,322 516,668 100,302 19,716,223 Cost 257,686 4,752,412 26,213,225 182,974 3,680,322 634,786 414,705 36,136,110 Accumulated depreciation (2,074,847) (13,755,842) (156,677) (118,118) (314,403) (16,419,887) Balance at December 31, 2020 257,686 2,677,565 12,457,383 26,297 3,680,322 516,668 100,302 19,716,223 Effect of foreign exchange differences (932) (6,402) (2,627) 1,418 2,076 26 (22) (6,463) Acquisitions 22,441 367,050 6,756 2,527,722 62,106 7,197 2,993,272 Capitalized interest (1) (notes 29 and 34) 87,414 87,414 PP&E provisions for losses and write-offs (note 27) (5,051) (62,606) (194) (5,468) (38,017) (1,550) (112,886) Depreciation (note 26) (163,911) (1,845,757) (7,043) (68,068) (27,878) (2,112,657) Right of use - Remesurement 109,109 109,109 Update of the ARO (Asset retirement obligation) 2,357 2,357 Transfers to fixed assets to investment property without cash effect (4,065) (1) (4,066) Acquisition of Elizabeth 100,489 227,629 278,576 878 16,400 3,173 627,145 Transfers to inventory 261,504 261,504 Others 19 3 22 Balance at December 31, 2021 349,495 3,019,934 13,800,888 29,037 3,643,682 581,824 106,274 21,531,134 Cost 349,495 5,358,388 29,348,048 190,847 3,643,682 754,606 445,870 40,090,936 Accumulated depreciation (2,338,454) (15,547,160) (161,810) (172,782) (339,596) (18,559,802) Balance at December 31, 2021 349,495 3,019,934 13,800,888 29,037 3,643,682 581,824 106,274 21,531,134 Effect of foreign exchange differences (12,314) (21,167) (66,796) (756) (6,137) (1,024) (334) (108,528) Acquisitions 1,402 48,061 6,631 6,618 3,213,068 26,218 58,521 3,360,519 Capitalized interest (1) 135,242 135,242 PP&E provisions for losses and write-offs (note 27) (272) 25,229 (754) (41) 24,162 Depreciation (note 26) (218,941) (2,334,638) (7,245) (104,382) (54,495) (2,719,701) Transfers to other asset categories (70,520) 314,131 2,800,864 5,421 (2,965,725) (84,171) Transfers to intangible assets (101,449) (101,449) Right of use - Remesurement 99,728 99,728 Consolidation of acquired companies and fair value to asset 217,044 1,309,277 2,288,415 7,801 106,869 43,272 171,916 4,144,594 Others 91 4,700 6 (2) (51) 4,744 Balance at December 31, 2022 485,107 4,451,114 16,525,293 40,882 4,025,550 644,880 197,619 26,370,445 Cost 485,107 8,741,911 36,373,386 284,863 4,025,550 1,057,566 643,304 51,611,687 Accumulated depreciation (4,290,797) (19,848,093) (243,981) (412,686) (445,685) (25,241,242) Balance at December 31, 2022 485,107 4,451,114 16,525,293 40,882 4,025,550 644,880 197,619 26,370,445 (*) Refer substantially to assets for railway use, such as yards, rails, mines, and railroad materials; (1) The capitalized borrowing costs are basically determined for the projects in Steel and Mining and refer substantially, to: - CSN: Technological updates and acquisition of new equipment for maintenance of the production capacity of UPV Plant (RJ); - CSN Mineração: Expansion of Casa de Pedra (MG) and TECAR (RJ). |
Schedule of rights of use | Schedule of rights of use Consolidated Land Buildings and Infrastructure Machinery, equipment and facilities Others Total Balance at December 31, 2020 393,015 66,086 51,946 5,621 516,668 Cost 434,689 75,882 81,598 42,617 634,786 Accumulated depreciation (41,674) (9,796) (29,652) (36,996) (118,118) Balance at December 31, 2020 393,015 66,086 51,946 5,621 516,668 Effect of foreign exchange differences 3 (6) 29 26 Addition 1,195 178 40,503 20,230 62,106 Remesurement 63,120 18,031 27,958 109,109 Depreciation (23,424) (10,343) (25,472) (8,829) (68,068) Write-offs (16,940) (20,944) (133) (38,017) Transfers to other asset categories 22,319 (5,810) (20,226) 3,717 Balance at December 31, 2021 439,285 68,145 53,759 20,635 581,824 Cost 500,826 94,196 99,103 60,483 754,608 Accumulated depreciation (61,541) (26,051) (45,344) (39,848) (172,784) Balance at December 31, 2021 439,285 68,145 53,759 20,635 581,824 Effect of foreign exchange differences (360) (62) (602) (1,024) Addition 2,520 2,042 4,191 17,465 26,218 Consolidation of acquired companies 1,092 35,511 6,669 43,272 Remesurement 45,410 8,325 38,430 7,563 99,728 Depreciation (22,153) (16,726) (48,142) (17,361) (104,382) Write-offs (754) (754) Transfers to other asset categories (14) (87) 228 (127) Others (2) (2) Balance at December 31, 2022 465,048 62,431 83,161 34,240 644,880 Cost 548,756 107,782 277,865 123,164 1,057,567 Accumulated depreciation (83,708) (45,351) (194,704) (88,924) (412,687) Balance at December 31, 2022 465,048 62,431 83,161 34,240 644,880 |
Schedule of estimated useful lives | Schedule of estimated useful lives Consolidated 12/31/2022 12/31/2021 Buildings and Infrastructure 34 34 Machinery, equipment and facilities 18 18 Furniture and fixtures 12 12 Others 9 10 |
INTANGIBLE ASSETS (Tables)
INTANGIBLE ASSETS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Intangible Assets | |
Schedule of intangible assets | Schedule of intangible assets Consolidated Goodwill Customer relationships Software Trademarks Rights and licenses (*) Others Total Balance at December 31, 2020 3,606,156 278,041 45,665 215,532 3,169,349 2,051 7,316,794 Cost 3,846,563 823,540 182,059 215,532 3,193,787 2,051 8,263,532 Accumulated amortization (131,077) (545,499) (136,394) (24,438) (837,408) Adjustment for accumulated recoverable value (109,330) (109,330) Balance at December 31, 2020 3,606,156 278,041 45,665 215,532 3,169,349 2,051 7,316,794 Effect of foreign exchange differences (1,835) (24) (1,923) (18) (3,800) Acquisitions and expenditures 3,302 27 3,329 Transfer of property, plant and equipment 29,840 29,840 Amortization (note 27) (68,294) (12,343) (21,843) (102,480) Disposals (63) (63) Transfers to other asset categories 39,814 (39,814) Business Combination Elizabeth (note 4) 83,266 330,164 413,430 Balance at December 31, 2021 3,729,236 207,912 66,440 213,609 3,437,883 1,970 7,657,050 Cost 3,969,643 816,206 221,712 213,609 3,484,778 1,970 8,707,918 Accumulated amortization (131,077) (608,294) (155,272) (46,895) (941,538) Adjustment for accumulated recoverable value (109,330) (109,330) Balance at December 31, 2021 3,729,236 207,912 66,440 213,609 3,437,883 1,970 7,657,050 Effect of foreign exchange differences (26,059) (544) (25,399) (214) (52,216) Acquisitions 830 76,764 644 78,238 Consolidation of acquired companies 402,247 33,982 6,008 38,370 2,677,809 3,158,416 Transfer of property, plant and equipment 30,456 70,993 101,449 Amortization (note 26) (63,351) (15,344) (1,393) (74,795) (154,883) Balance at December 31, 2022 4,131,483 152,484 87,846 225,187 6,188,654 2,400 10,788,054 Cost 4,371,890 753,307 296,456 226,581 6,400,593 2,400 12,051,227 Accumulated amortization (131,077) (600,823) (208,610) (1,394) (211,939) (1,153,843) Adjustment for accumulated recoverable value (109,330) (109,330) Balance at December 31, 2022 4,131,483 152,484 87,846 225,187 6,188,654 2,400 10,788,054 (*) Comprised mainly of: (i) mining rights whose amortization is based on production volume and (ii) Concession agreement for the use of water resources in the acquisition of control of CEEE-G, amortized over the agreement term (note 3.c). |
Schedule of average useful life by nature | Schedule of average useful life by nature Consolidated 12/31/2022 12/31/2021 Software 10 9 Customer relationships 13 13 |
Schedule of goodwill impairment test | Schedule of goodwill impairment test Consolidated Goodwill Trademarks Total Cash generating unity Segment 12/31/2022 12/31/2021 12/31/2022 12/31/2021 12/31/2022 12/31/2021 Packaging (1) Steel 170,163 158,748 170,163 158,748 Long steel (2) Steel 235,595 235,595 225,187 213,609 460,782 449,204 Mining (3) Mining 3,236,402 3,236,402 3,236,402 3,236,402 Other Steel (4) Steel 15,225 15,225 15,225 15,225 Cements (5) Cement 474,098 83,266 474,098 83,266 4,131,483 3,729,236 225,187 213,609 4,356,670 3,942,845 (1) The goodwill of the Packaging cash-generating unit is shown net of impairment loss in the amount of R$ 109,330 11,415 (2) The goodwill and trademark that are recorded in intangible assets at long steel segment, derives from the business combination of Stahlwerk Thuringen GmbH ("SWT") and Gallardo Sections CSN. The assets mentioned are considered to have indefinite useful lives as they are expected to contribute indefinitely to the Company's cash flows. (3) Refers to the goodwill for expected future profitability, resulting from the acquisition of Namisa by CSN Mineração concluded in December 2015, which recoverability is tested annually. (4) On November 29, 2019, CSN acquired the stake held by CKTR Brasil Serviços Ltda., corresponding to 50 100 (5) In the acquisition of Elizabeth Cimentos S.A. in August 2021 goodwill for expected future profitability in the amount of R$ 83,266 390,832 |
Schedule of main assumptions for intangible asstes impairment | Schedule of main assumptions for intangible asstes impairment Packaging Mining Other Steelmaking Flat Steel (*) Flat Steel (*) Logistics (**) Cements Measurement of recoverable value Discounted Cash Flow Discounted Cash Flow Discounted Cash Flow Discounted Cash Flow Discounted Cash Flow Discounted Cash Flow Discounted Cash Flow Cash flow projection Until 2032 + perpetuity Until 2064 Until 2032 + perpetuity Until 2032 + perpetuity Until 2035 + perpetuity Until 2027 Until 2050 + perpetuity Gross Margin Gross margin updated based on It reflects projection of costs due to the progress of the mining plan as well as startup and project ramp up. Prices and exchange rates projected according to sectoral reports. Gross margin updated based on historical data and market trends Gross margin updated based on historical data and market trends Gross margin updated based on historical data and market trends Estimated based on market study to captures cargo and operational costs according to market trend studies Gross margin updated based on historical data and market trends Cost atualization Cost based on historical data of Update of costs based on historical data, progress of the mining plan as well as startup and project ramp up Updated costs based on historical data and market trends Updated costs based on historical data and market trends Updated costs based on historical data and market trends Study-based costs and market trends Study-based costs and market trends Perpetual growth rate Without growth Without perpetuity Without growth Without growth Without growth Without perpetuity Without growth Discount rate For packaging, cash flows were discounted using a discount rate around 9.13 3.53 13.09 5.60 16.49 6.01 7.56 The discount rate was based on the weighted average cost of capital ("WACC") that reflects the specific risk of each segment. * Refers to the assets of the subsidiary Lusosider, located in Portugal and also the assets of Stahlwerk Thüringen (SWT) located in Germany. The discount rate was applied on the discounted cash flow prepared in Euros, the functional currency of these subsidiaries. ** Refers to the assets of the subsidiary FTL - Ferrovia Transnordestina Logística S.A.; |
BORROWINGS AND FINANCING (Table
BORROWINGS AND FINANCING (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Borrowings And Financing | |
Schedule of borrowings and financing | Schedule of borrowings and financing Consolidated Current Liabilities Non-current Liabilities 12/31/2022 12/31/2021 12/31/2022 12/31/2021 Foreign Debt Floating Rates: Prepayment 1,571,208 1,626,521 5,474,359 3,875,713 Fixed Rates: Bonds, Perpetual bonds, Facility, CCE and ACC 1,189,717 678,239 16,790,284 15,380,392 Intercompany Fixed interest in EUR Intercompany Facility 62,187 550,460 166,302 79,013 2,823,112 2,855,220 22,430,945 19,335,118 Debt agreements in Brazil Floating Rate Securities in R$: BNDES/FINAME/FINEP, Debentures, NCE and CCB 2,446,840 2,677,516 13,740,051 7,886,796 2,446,840 2,677,516 13,740,051 7,886,796 Total Borrowings and Financing 5,269,952 5,532,736 36,170,996 27,221,914 Transaction Costs and Issue Premiums (76,316) (45,877) (445,890) (201,251) Total Borrowings and Financing + Transaction cost 5,193,636 5,486,859 35,725,106 27,020,663 |
Schedule of movements of borrowings and financing | Schedule of movements of borrowings and financing Consolidated 12/31/2022 12/31/2021 Opening balance 32,507,522 35,270,653 New debts 20,248,223 12,915,332 Repayment (10,782,858) (17,639,178) Payments of charges (2,315,586) (2,137,782) Accrued charges (note 29) 2,595,011 2,140,961 Acquisition of Elizabeth 372,123 Consolidation of companies 81,978 Others (1) (1,415,548) 1,585,413 Closing balance 40,918,742 32,507,522 (1) Including unrealized exchange and monetary variations and funding cost. |
Schedule of financial assets group captures and amortized loans | Schedule of financial assets group captures and amortized loans Consolidated 12/31/2022 Nature New debts Maturities Repayment Interest payment Pre-Payment 2,131,171 2023 to 2032 (467,381) (174,797) Bonds, ACC, CCE e Facility 9,253,891 2023 to 2032 (3,471,458) (951,167) Debentures 7,300,000 2024 to 2037 BNDES/FINAME, Debêntures, NCE e CCB 1,563,161 2023 to 2025 (6,844,019) (1,189,622) 20,248,223 (10,782,858) (2,315,586) |
Schedule of financial assets maturities of borrowings, financing and debentures | Schedule of financial assets maturities of borrowings, financing and debentures Consolidated 12/31/2022 Borrowings and financing in foreign currency Borrowings and financing in national currency Total Average rate in Dollar 5.84%in Euro 3.07% in Real 15.40% 2023 2,823,112 2,446,840 5,269,952 2024 852,419 3,022,057 3,874,476 2025 2,307,737 1,151,692 3,459,429 2026 2,469,116 2,170,972 4,640,088 2027 796,378 2,191,107 2,987,485 2028 to 2031 12,992,073 2,687,293 15,679,366 After 2031 3,013,222 2,516,930 5,530,152 25,254,057 16,186,891 41,440,948 |
FINANCIAL INSTRUMENTS (Tables)
FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Financial Instruments | |
Schedule of financial instruments | Schedule of financial instruments Consolidated Consolidated 12/31/2022 12/31/2021 Notes Fair value through profit or loss Measured at amortized cost Balances Fair value through profit or loss Measured at amortized cost Balances Assets Current Cash and cash equivalents 4 11,991,356 11,991,356 16,646,480 16,646,480 Short-term investments 5 1,184,895 271,590 1,456,485 2,383,059 261,673 2,644,732 Trade receivables 6 3,233,164 3,233,164 2,597,838 2,597,838 Dividends and interest on equity 9 77,377 77,377 76,878 76,878 Trading securities 9 9,596 9,596 12,028 12,028 Loans - related parties 9 5,383 5,383 4,511 4,511 Total 1,194,491 15,578,870 16,773,361 2,395,087 19,587,380 21,982,467 Non-current Investments 5 156,185 156,185 147,671 147,671 Other trade receivables 9 8,059 8,059 2,345 2,345 Eletrobrás compulsory loan 9 58,030 58,030 859,607 859,607 Receivables by indemnity 9 974,863 974,863 534,896 534,896 Loans - related parties 9 1,384,773 1,384,773 1,143,228 1,143,228 Investments 10 94,700 94,700 190,321 190,321 Total 94,700 2,581,910 2,676,610 190,321 2,687,747 2,878,068 Total Assets 1,289,191 18,160,780 19,449,971 2,585,408 22,275,127 24,860,535 Liabilities Current Borrowings and financing 13 5,269,952 5,269,952 5,532,736 5,532,736 Leases 15 177,010 177,010 119,047 119,047 Trade payables 16 6,596,915 6,596,915 6,446,999 6,446,999 Trade payables - drawee risk 17 5,709,069 5,709,069 4,439,967 4,439,967 Dividends and interest on capital 17 611,307 611,307 1,206,870 1,206,870 Derivative financial instruments 416,935 416,935 Total 416,935 18,364,253 18,781,188 17,745,619 17,745,619 Non-current Borrowings and financing 13 36,170,996 36,170,996 27,221,914 27,221,914 Leases 15 516,836 516,836 492,504 492,504 Trade payables 16 46,269 46,269 98,625 98,625 Derivative financial instruments 17 69,472 69,472 101,822 101,822 Total 69,472 36,734,101 36,803,573 101,822 27,813,043 27,914,865 Total Liabilities 486,407 55,098,354 55,584,761 101,822 45,558,662 45,660,484 |
Schedule of financial instruments at fair value through profit or loss | Schedule of financial instruments at fair value through profit or loss Consolidated 12/31/2022 12/31/2021 Level 1 Level 2 Balances Level 1 Level 2 Balances Assets Current Financial investments 1,184,895 1,184,895 2,383,059 2,383,059 Trading securities 9,596 9,596 12,028 12,028 Non-current Investments 94,700 94,700 190,321 190,321 Total Assets 1,289,191 1,289,191 2,585,408 2,585,408 Liabilities Current Derivative financial instruments 416,935 416,935 Non-current Derivative financial instruments 69,472 69,472 101,822 101,822 Total Liabilities 486,407 486,407 101,822 101,822 |
Schedule of foreign exchange exposure | Schedule of foreign exchange exposure 12/31/2021 Foreign Exchange Exposure (Amounts in US$’000) (Amounts in US$’000) Cash and cash equivalents overseas 1,191,036 1,656,271 Trade receivables 315,920 212,424 Financial investments 26,930 23,748 Borrowings and financing (4,594,471) (3,866,290) Trade payables (366,149) (613,961) Others (23,079) (149,532) Natural Gross Foreign Exchange Exposure (assets - liabilities) (3,449,813) (2,737,340) Cash flow hedge accounting 4,409,760 2,655,350 Exchange rate swap CDI x Dollar (67,000) (67,000) Exchange rate swap Real x Dollar (115,000) Net foreign exchange exposure 777,947 (148,990) |
Schedule of scenarios | Schedule of scenarios 12/31/2022 Currency Exchange rate Probable scenario Scenario 1 Scenario 2 USD 5.2177 5.2070 6.5221 7.8266 EUR 5.5694 5.5580 6.9618 8.3541 USD x EUR 1.0674 1.0674 1.3343 1.6011 |
Schedule of sensitivity analysis effects on income statement | Schedule of sensitivity analysis effects on income statement 12/31/2022 Instruments Notional Risk Probable scenario (*) R$ Scenario 1 R$ Scenario 2 R$ Gross exchange position (3,449,813) Dollar 36,913 (4,500,022) (9,000,045) Cash flow hedge accounting 4,409,760 Dollar (47,184) 5,752,201 11,504,402 Exchange rate swap CDI x Dollar (67,000) Dollar 717 (87,396) (174,793) Exchange rate swap Real x Dollar (115,000) Dollar 1,230 (150,009) (300,018) Net exchange position 777,947 Dollar (8,324) 1,014,774 2,029,546 (*) The probable scenarios were calculated considering the following variations for the risks: Real x Dollar – valuation of the Real by 0.21% / Real x Euro - valuation of the Real by 0.20% / Euro x Dollar - no variation. Source: Central Bank of Brazil and European Central Bank quotations on March 1, 2023. |
Schedule of sensitivity analysis of interest rates | Schedule of sensitivity analysis of interest rates 12/31/2022 Interest Interest rate Scenario 1 Scenario 2 CDI 13.65 17.06 20.48 TJLP 7.20 9.00 10.80 LIBOR 5.14 6.42 7.71 SELIC 13.75 17.19 20.63 |
Schedule of effects on profit and loss | Schedule of effects on profit and loss Consolidated Changes in interest rates % p.a Assets Liabilities Probable scenario (*) Scenario 1 Scenario 2 CDI 13.65 5,026,521 (14,249,092) (10,481,452) (10,796,172) (11,110,892) TJLP 7.20 (1,044,833) (1,120,061) (1,138,868) (1,157,675) Libor 5.14 (6,936,984) (7,293,466) (7,382,586) (7,471,707) Selic 13.75 (14,596) (16,603) (17,105) (17,606) (*) The sensitivity analysis is based on the premise of maintaining the market values as of December 31, 2022 as a probable scenario recorded in the company´s assets and liabilities. |
Schedule of dollar x Euro swap | Schedule of dollar x Euro swap 12/31/2022 12/31/2022 12/31/2021 12/31/2022 12/31/2021 12/31/2022 12/31/2021 Appreciation (R$) Fair value (market) Other income and expenses (note 27) Other comprehensive income Exchange variation Maturity Notional Asset position Liability position Amounts receivable / (payable) 02/02/2021 to 10/02/2021 (Settled) Platts (27,728) 16,790 05/31/2022 (Settled) Platts 23,374 (1,087) 12/01/2022 to 12/31/2022 Platts 797,721 (873,385) (75,664) (75,664) 667 01/01/2023 to 01/31/2023 Platts 1,098,354 (1,218,934) (120,580) 120,580 (1,484) 02/01/2023 to 02/28/2023 Platts 1,087,106 (1,197,361) (110,255) 110,255 (1,244) 03/01/2023 to 03/31/2023 Platts 696,149 (770,062) (73,913) 73,913 (938) 04/01/2023 to 04/30/2023 Platts 372,109 (385,572) (13,463) 13,463 (131) 05/01/2023 to 05/31/2023 Platts 392,861 (404,946) (12,085) 12,085 (81) 06/01/2023 to 06/30/2023 Platts 396,961 (407,934) (10,973) 10,973 (35) 4,841,261 (5,258,194) (416,933) (52,290) (27,728) 341,269 (4,333) 16,790 |
Schedule of fair value of cash flow accounting platts, net | Schedule of fair value of cash flow accounting platts, net 12/31/2021 Movement Realization 12/31/2022 Cash flow hedge accounting – “Platts” 393,559 (52,290) 341,269 Income tax and social contribution on cash flow hedge accounting (133,810) 17,779 (116,031) Fair Value of cash flow accounting - Platts, net 259,749 (34,511) 225,238 |
Schedule of sensitivity analysis for platts price risks | Schedule of sensitivity analysis for platts price risks 12/31/2022 Maturity Probable scenario R$ Scenario 1 R$ Scenario 2 R$ 01/01/2023 to 01/31/2023 (187,669) (362,057) (654,139) 02/01/2023 to 02/28/2023 (187,132) (359,922) (649,327) 03/01/2023 to 03/31/2023 (129,814) (241,817) (429,410) 04/01/2023 to 04/30/2023 (44,186) (100,637) (195,186) 05/01/2023 to 05/31/2023 (47,457) (107,165) (207,171) 06/01/2023 to 06/30/2023 (44,919) (104,839) (205,199) (641,177) (1,276,437) (2,340,432) |
Schedule of hedging instruments | Schedule of hedging instruments 12/31/2022 Designation Date Hedging Instrument Hedged item Type of hedged risk Hedged period Exchange rate on designation Designated amounts (US$’000) Amortizated part (USD'000) Effect on Result (*) (R$'000) Impact on Shareholders' equity (R$'000) 07/23/2015 Export prepayments in US$ to third parties Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate August 2018 - October 2022 3.2850 30,000 (30,000) (11,832) 07/24/2015 Export prepayments in US$ to third parties Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate August 2018 - October 2022 3.3254 100,000 (100,000) (39,382.00000) - 07/27/2015 Export prepayments in US$ to third parties Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate August 2018 - October 2022 3.3557 25,000 (25,000) (1,583.00000) - 07/27/2015 Export prepayments in US$ to third parties Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate August 2018 - October 2022 3.3557 70,000 (70,000) (26,068.00000) - 07/27/2015 Export prepayments in US$ to third parties Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate August 2018 - October 2022 3.3557 30,000 (30,000) (20,038.00000) - 07/28/2015 Export prepayments in US$ to third parties Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate August 2018 - October 2022 3.3815 30,000 (30,000) (11,253.00000) - 3/8/2015 Export prepayments in US$ to third parties Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate July 2018 - October 2022 3.3940 355,000 (355,000) (22,356) - 2/4/2018 Bonds Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate July 2018 - February 2023 3.3104 1,170,045 (1,093,045) (389,596) 290,375 07/31/2019 Bonds and Export prepayments in US$ to third parties Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate January 2020 - April 2026 3.7649 1,342,761 (829,661) (770,870) 745,432 10/1/2020 Bonds Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate March 2027 - January 2028 4.0745 1,416,000 (1,287,000) (67,766) 1,362,073 01/28/2020 Bonds Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate March 2027 - January 2028 4.2064 1,000,000 - - 1,011,300 1/6/2022 Bonds and Export prepayments in US$ to third parties Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate June 2022 - April 2032 4.7289 1,145,300 (62,200) (32,290) 529,419 1/6/2022 Export prepayments in US$ to third parties Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate June 2022 - May 2033 4.7289 878,640 (61,080) (33,265) 399,623 1/12/2022 Bonds Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate December 2022 - June 2031 5.0360 490,000 89,033 1/12/2022 Advance on foreign exchange contract Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate December 2022 - November 2023 5.1643 60,000 3,204 1/12/2022 Advance on foreign exchange contract Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate December 2022 - December 2025 5.2565 100,000 (3,880) 1/12/2022 Advance on foreign exchange contract Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate December 2022 - January 2024 5.2660 50,000 (2,415) 1/12/2022 Advance on foreign exchange contract Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate December 2022 - November 2023 5.3270 20,000 (2,186) 1/12/2022 Export prepayments in US$ to third parties Part of the highly probable future monthly iron ore exports Foreign exchange - R$ vs. US$ spot rate December 2022 - June 2027 5.0360 70,000 12,719 Total 8,382,746 (3,972,986) (1,426,299) 4,434,697 (*) The realization of Hedge accounting cash flow is recognized in Other operating income and expenses, note 27. |
Schedule of hedge accounting movements | Schedule of hedge accounting movements Consolidated 12/31/2021 Movement Realization 12/31/2022 Cash flow hedge accounting 5,763,400 97,596 (1,426,299) 4,434,697 Income tax and social contribution on cash flow hedge accounting (1,959,556) (33,183) 484,942 (1,507,797) Fair Value of cash flow accounting, net taxes 3,803,844 64,413 (941,357) 2,926,900 |
Schedule of contractual maturities of financial liabilities including interest | Schedule of contractual maturities of financial liabilities including interest Consolidated At December 31, 2022 Less than one year From one to two years From two to five years Over five years Total Borrowings, financing and debentures (note 13) 5,269,952 3,874,476 11,087,002 21,209,518 41,440,948 Lease Liabilities (note 15) 177,010 155,938 139,118 221,780 693,846 Derivative financial instruments (note 14 a) 416,935 69,472 486,407 Trade payables (note 16) 6,596,915 27,838 18,411 20 6,643,184 Trade payables - Drawee Risk (note 17) 5,709,069 5,709,069 Dividends and interest on equity (note 17) 611,307 611,307 18,781,188 4,127,724 11,244,531 21,431,318 55,584,761 |
Schedule of Fair values of assets and liabilities in book value | Schedule of Fair values of assets and liabilities in book value 12/31/2022 12/31/2021 Closing Balance Fair value Closing Balance Fair value Fixed Rate Notes 15,656,088 13,782,836 15,617,091 15,700,276 (*) Source: Bloomberg |
Schedule of position of the derivatives | Schedule of position of the derivatives 12/31/2022 12/31/2021 12/31/2020 Appreciation (R$) Fair value (market) Impact on financial income (expenses) (note 28) Instrument Maturity Functional Currency Notional amount Asset position Liability position Amounts receivable / (payable) Exchange rate swap Exchange rate swap Dollar x Euro Settled Dollar 7,119 (9,672) Exchange rate swap Dollar x Real Settled Dollar 100,000 176,991 37,322 Exchange rate swap CDI x Dollar 10/02/2023 Dollar 67,000 297,020 (355,025) (58,005) 43,817 (9,960) (106,143) Exchange rate swap Real x Dollar 10/6/2027 Dollar 115,000 622,776 (634,243) (11,467) (11,467) Total Swap 282,000 919,796 (989,268) (69,472) 209,341 34,481 (115,815) Interest rate swap Interest rate (Debentures) CDI x IPCA 07/15/2031 Real 576,448 612,994 (649,635) (36,641) (67,471) (17,432) Interest rate (Debentures) CDI x IPCA 07/15/2032 Real 745,000 813,924 (850,497) (36,573) (36,571) Interest rate (Debentures) CDI x IPCA 07/15/2036 Real 423,552 449,550 (492,040) (42,490) (25,057) (17,488) Interest rate (Debentures) CDI x IPCA 07/15/2037 Real 655,382 691,974 (717,553) (25,579) (25,579) Interest rate (Debentures) CDI x IPCA 02/16/2032 Real 600,000 657,792 (666,223) (8,431) (24,089) Interest rate (Debentures) CDI x IPCA 12/2/2032 Real 600,000 658,086 (666,351) (8,265) (79,130) Total interest rate (Debentures) CDI x IPCA 3,600,382 3,884,320 (4,042,299) (157,979) (257,897) (34,920) 4,804,116 (5,031,567) (227,451) (48,556) (439) (115,815) |
Schedule of balance sheet and statement of income | Schedule of balance sheet and statement of income 12/31/2022 12/31/2021 12/31/2020 Instruments Liabilities Financial income (expenses), net (note 28) Non-current Total Exchange rate swap (NDF) Dollar x real (settled) 176,991 37,322 Exchange rate swap Dollar x Euro (Settled) 7,119 (9,070) Exchange rate swap GBP x Euro (602) Exchange rate swap CDI x Dollar (58,005) (58,005) 43,817 (9,960) (106,143) Interest rate swap CDI x IPCA (157,979) (157,979) (257,897) (34,920) (227,451) (227,451) (48,556) (439) (115,815) |
Schedule of other operating income and expenses | Schedule of other operating income and expenses Class of shares 12/31/2022 12/31/2021 12/31/2022 12/31/2021 12/31/2020 Quantity Equity interest (%) Share price Closing Balance Quantity Equity interest (%) Share price Closing Balance Profit or loss (notes 27 and 28) USIM3 106,620,851 15.12 7.41 790,061 106,620,851 15.12 14.51 1,547,069 (757,008) (121,593) 623,652 USIM5 55,144,456 10.07 7.16 394,834 55,144,456 10.07 15.16 835,990 (441,156) 506,890 566,837 1,184,895 2,383,059 (1,198,164) 385,297 1,190,489 PATI3 2,705,726 11.31 35.00 94,700 2,705,726 11.31 70.34 190,321 (95,620) 109,254 12,579 1,279,595 2,573,380 (1,293,784) 494,551 1,203,068 |
Schedule of sensitivity analysis for stock price risks | Schedule of sensitivity analysis for stock price risks 12/31/2022 Class of shares Probable scenario Scenario 1 Scenario 2 5% 25% 50% USIM3 (39,503) (197,515) (395,030) USIM5 (19,742) (98,709) (197,417) PATI3 (4,735) (23,675) (47,350) |
Schedule of capital management | Schedule of capital management Thousands of reais 12/31/2022 12/31/2021 Shareholder's equity (equity) 21,907,929 23,374,389 Borrowings and Financing (Third-party capital) 40,918,742 32,507,522 Gross Debit/Shareholder's equity 1.87 1.39 |
LEASE LIABILITIES (Tables)
LEASE LIABILITIES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Lease liabilities [abstract] | |
Schedule of lease liabilities | Schedule of lease liabilities Consolidated 12/31/2022 12/31/2021 Leases 1,916,636 1,790,193 Present value adjustment - Leases (1,222,790) (1,178,642) Leases 693,846 611,551 Classified: Current 177,010 119,047 Non-current 516,836 492,504 Leases 693,846 611,551 |
Schedule of movement of lease liabilities | Schedule of movement of lease liabilities Consolidated 12/31/2022 12/31/2021 Opening balance 611,551 530,131 New leases 29,633 69,379 Present Value Adjustments - New leases (3,300) (7,273) Contract review 99,419 109,860 Write-off (781) (38,626) Payments (155,995) (114,303) Interest appropriated 69,510 62,470 Acquisition of companies 45,352 Exchange variation (1,543) (87) Net balance 693,846 611,551 |
Schedule of expected minimum payments | Schedule of expected minimum payments Consolidated Less than one year Between one and five years Over five years Total Leases 183,928 419,882 1,312,826 1,916,636 Present value adjustment - Leases (6,918) (124,826) (1,091,046) (1,222,790) Total lease liabilities 177,010 295,056 221,780 693,846 |
Schedule of recoverable pis confins | Schedule of recoverable pis confins Consolidated 12/31/2022 12/31/2021 Leases 1,835,101 1,777,209 Present value adjustment - Leases (1,221,378) (1,177,668) Potencial PIS and COFINS credit 169,747 164,392 Present value adjustment – Potential PIS and COFINS credit (112,977) (108,934) |
Schedule of measurement of the lease liability | Schedule of measurement of the lease liability Consolidated 12/31/2022 12/31/2021 12/31/2020 Contract less than 12 months 995 339 549 Lower Assets value 5,859 4,975 9,563 Variable lease payments 325,913 498,529 270,449 Total 332,767 503,843 280,561 |
TRADE PAYABLES (Tables)
TRADE PAYABLES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Trade Payables | |
Schedule of trade payables | Schedule of trade payables Consolidated 12/31/2022 12/31/2021 Trade payables 6,723,077 6,657,702 (-) Adjustment present value (79,893) (112,078) 6,643,184 6,545,624 Classified: Current 6,596,915 6,446,999 Non-current 46,269 98,625 6,643,184 6,545,624 |
OTHER PAYABLES (Tables)
OTHER PAYABLES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Other Payables | |
Schedule of other payables | Schedule of other payables Consolidated Current Non-current 12/31/2022 12/31/2021 12/31/2022 12/31/2021 Payables to related parties (note 22 a) 109,087 50,624 53,356 66,607 Derivative financial instruments (note 14 a) 416,935 69,472 101,822 Dividends and interest on capital 611,307 1,206,870 Advances from customers (1) 1,120,072 2,140,783 943,919 947,896 Taxes in installments (note 19) 280,721 51,999 184,106 152,420 Profit sharing - employees 266,705 223,885 Taxes payable 10,925 10,378 Provision for consumption and services 241,965 216,692 Third party materials in our possession 303,858 418,084 Trade payables - Drawee Risk and forfaiting (note 16) 5,709,069 4,439,967 Trade payables (note 16) 46,269 98,625 Lease Liabilities (note 15) 177,010 119,047 516,836 492,504 Other payables 81,922 36,703 391,535 77,912 9,318,651 8,904,654 2,216,418 1,948,164 (1) Advances from Customers |
INCOME TAX AND SOCIAL CONTRIB_2
INCOME TAX AND SOCIAL CONTRIBUTION (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Income Tax And Social Contribution | |
Schedule of income tax and social contribution income (expense) | Schedule of income tax and social contribution income (expense) Consolidated 12/31/2022 12/31/2021 12/31/2020 Income tax and social contribution income (expense) Current (1,537,966) (4,240,802) (2,052,204) Deferred (420,773) (759,355) 1,426,696 Total (1,958,739) (5,000,157) (625,508) |
Schedule of reconciliation of income tax and social contribution income (expense) | Schedule of reconciliation of income tax and social contribution income (expense) Consolidated 12/31/2022 12/31/2021 12/31/2020 Profit before income tax and social contribution 4,126,437 18,595,778 4,918,126 Tax rate 34 34 34 Income tax and social contribution at combined statutory rate (1,402,989) (6,322,565) (1,672,163) Adjustment to reflect the effective rate: Equity in results of affiliated companies 155,125 71,833 28,391 Difference Tax Rate in companies abroad (338,278) (437,567) (519,840) Transfer Price Adjustment and Profits Abroad (195,112) (55,821) (15,645) Tax loss carryforwards without recognizing deferred taxes (27,758) Indebtdness limit (25,087) Unrecorded deferred taxes on temporary differences 5,142 Income taxes and social contribution on foreign profit (13,011) Tax incentives 50,333 273,040 64,818 Interest on equity 290,968 185,325 17,177 Recognition/(reversal) of tax credits (562,014) 1,027,252 1,540,087 Other permanent exclusions (additions) (i) 43,228 258,346 (7,619) Income tax and social contribution in net income for the year (1,958,739) (5,000,157) (625,508) Effective tax rate 47 27 13 (i) In 2021 the Company recognized a credit for the unconstitutionality of the levy of IRPJ and CSLL on amounts referring to the SELIC rate received due to the repetition of undue tax payment. |
Schedule of deferred income tax and social contribution | Schedule of deferred income tax and social contribution Consolidated 12/31/2022 12/31/2021 12/31/2020 Deferred Income tax losses 2,679,028 1,537,623 1,848,999 Social contribution tax losses 894,183 583,845 688,208 Temporary differences 1,305,557 2,447,543 718,903 Tax, social security, labor, civil and environmental provisions 584,834 265,328 279,149 Estimated losses on assets 369,826 283,266 161,016 Gains/(Losses) on financial assets 468,813 6,484 5,027 Actuarial Liabilities (Pension and Health Plan) 226,875 210,009 262,457 Provision for consumption and services 205,880 163,620 154,452 Cash Flow Hedge Accounting and Unrealized Exchange Variations 1,459,012 2,985,859 4,487,710 (Gain) on loss of control of Transnordestina (224,096) (92,180) (92,180) Fair Value SWT/CBL Acquisition (149,489) (178,160) (212,015) Business combination (1,632,370) (1,338,674) (1,015,049) Others (3,728) 141,991 (53,685) Total 4,878,768 4,569,011 3,256,110 Total Deferred Assets 5,095,718 5,072,092 3,874,946 Total Deferred Liabilities (216,950) (503,081) (618,836) Total Deferred 4,878,768 4,569,011 3,256,110 |
Schedule of estimated recovery of deferred tax assets | Schedule of estimated recovery of deferred tax assets Consolidated 2023 825,267 2024 704,944 2025 601,980 2026 722,660 2027 e demais 3,203,872 Deferred asset 6,058,723 Deferred liabilities - Parent Company (963,005) Net deferred asset 5,095,718 Deferred liabilities - subsidiaries (216,950) Net deferred asset 4,878,768 |
Schedule of changes in deferred income tax and social contribution | Schedule of changes in deferred income tax and social contribution Consolidated Balance at December 31, 2019 1,883,765 Recognized in the result 1,426,696 Recognized in other comprehensive income (59,380) Acquisition of companies 5,029 Balance at December 31, 2020 3,256,110 Recognized in the result (759,355) Recognized in other comprehensive income 2,073,437 Acquisition of companies (1,181) Balance at December 31, 2021 4,569,011 Recognized in the result (420,773) Recognized in other comprehensive income (322,876) Acquisition of companies 1,053,406 Balance at December 31, 2022 4,878,768 |
Schedule of income tax and social contribution recognized in shareholders' equity | Schedule of income tax and social contribution recognized in shareholders' equity Consolidated 12/31/2022 12/31/2021 Income tax and social contribution Actuarial gains on defined benefit pension plan 100,139 104,533 Exchange differences on translating foreign operations (325,350) (325,350) Cash flow hedge accounting 1,571,953 1,959,556 2,693,484 1,738,739 |
TAXES IN INSTALLMENTS (Tables)
TAXES IN INSTALLMENTS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Taxes In Installments | |
Schedule of taxes in installments | Schedule of taxes in installments Consolidated 12/31/2022 12/31/2021 Federal REFIS Law 11.941/09 17,585 18,499 Federal REFIS Law 12.865/13 39,522 43,352 Other taxes in installments 407,720 142,568 464,827 204,419 Classified: Current 280,721 51,999 Non-current 184,106 152,420 464,827 204,419 |
PROVISIONS FOR TAX, SOCIAL SE_2
PROVISIONS FOR TAX, SOCIAL SECURITY, LABOR, CIVIL AND ENVIRONMENTAL RISKS AND JUDICIAL DEPOSITS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Provisions For Tax Social Security Labor Civil And Environmental Risks And Judicial Deposits | |
Schedule of accrued amounts and judicial deposits | Schedule of accrued amounts and judicial deposits Consolidated Accrued liabilities Judicial deposits 12/31/2022 12/31/2021 12/31/2022 12/31/2021 Tax 219,196 111,572 184,687 78,260 Social security 1,567 1,270 Labor 375,416 304,744 297,507 218,200 Civil 851,305 139,824 25,502 17,869 Environmental 37,341 16,942 2,859 2,739 Deposit of a guarantee 23,109 22,737 1,484,825 574,352 533,664 339,805 Classified: Current 73,089 66,047 Non-current 1,411,736 508,305 533,664 339,805 1,484,825 574,352 533,664 339,805 |
Schedule of changes in the provision for tax, social security, labor, civil and environmental risks | Schedule of changes in the provision for tax, social security, labor, civil and environmental risks Consolidated Current + Non-current Nature 12/31/2021 Additions Accrued charges Consolidation of companies Net utilization of reversal 12/31/2022 Tax 111,572 74,097 10,595 30,035 (7,103) 219,196 Social security 1,270 1,093 19 (815) 1,567 Labor 304,744 36,203 36,852 89,101 (91,484) 375,416 Civil 139,824 27,668 21,406 702,720 (40,313) 851,305 Environmental 16,942 22,319 1,120 (3,040) 37,341 574,352 161,380 69,992 821,856 (142,755) 1,484,825 |
Schedule of legal matters with possible risk of loss | Schedule of legal matters with possible risk of loss Consolidated 12/31/2022 12/31/2021 Assessment Notice and imposition of fine (AIIM) / Tax Enforcement - Income tax and social contribution - Capital gain on sale of NAMISA's shares 14,174,838 13,015,938 Assessment Notice and Imposition of fine (AIIM) / Tax Enforcement - Income tax and Social contribution - Disallowance of deductions of goodwill generated in the reverse incorporation of Big Jump by NAMISA. 4,920,177 4,242,051 Assessment Notice and Imposition of fine (AIIM) / Tax Enforcement - Income tax and Social contribution - Disallowance of interest on prepayment arising from supply contracts of iron ore and port services 2,388,423 2,017,602 Assessment Notice and imposition of fine (AIIM) - Income tax and social contribution due to profits from foreign subsidiaries for years 2008, 2010, 2011, 2012, 2014, 2015 and 2016. 4,104,626 4,137,519 Assessment Notice and Imposition of fine (AIIM) - IRPJ/CSLL - Disallowance of deductions of goodwill generated in the acquisition of Cimentos Mauá (1) 715,152 ICMS - SEFAZ/RJ - Electricity Credits 950,469 867,521 Offset of taxes that were not approved by the Federal Revenue Service - IRPJ/CSLL, PIS/COFINS and IPI 2,138,608 1,660,888 ICMS - SEFAZ/RJ - Disallowance of the ICMS credits - Transfer of iron ore 666,816 614,528 ICMS - Refers to the transfer of imported raw material at an amount lower than the price disclosed in the import documentation 357,006 326,361 Disallowance of the tax loss and negative basis of social contribution arising from the adjustments in the SAPLI 663,594 600,895 Assessment Notice and imposition of fine (AIIM)/ Action for annulment - IRRF- Capital Gain of CFM vendors located abroad 289,406 266,649 CFEM – difference of understanding between CSN and ANM on the calculation basis 1,143,275 1,079,951 ICMS - SEFAZ/RJ - Assessment Notice - questions about sales for incentive area 1,255,251 1,142,386 Other tax lawsuits (federal, state, and municipal) (1) 5,579,232 3,877,976 Assessment Notice and imposition of fine (AIIM) - Charge of IRRF- RFB - Business Combinations of CSN Mineração held in 2015. 986,196 889,179 ICMS - SEFAZ/RJ - Disallowance of credits on acquisitions of Intermediate Products 623,748 562,307 Assessment Notice and imposition of fine (AIIM) - RFB - Disallowance of credits PIS/COFINS of inputs and freight 1,238,018 1,116,228 Social security lawsuits 187,338 214,323 Action to discuss the balance of the construction contract – Tebas 560,638 507,719 Action related to power supply payment’s charge - Light 386,834 324,371 Action that discusses Negotiation of energy sales - COPEN - CEEE-G (1) 193,469 Collection of defaulted amounts of contracts for the execution of the Presidente Médici Thermoelectric Power Plant - SACE - CEEE-G (1) 192,212 Enforcement action applied by Brazilian antitrust authorities (CADE) 109,206 98,740 Civil Public Action - Districts / School / Nursery relocation-CdP Dam 14,876 Other civil lawsuits (1) 1,168,591 845,043 Labor and social security lawsuits (1) 1,726,517 1,536,967 Tax foreclosures – Fine – Volta Redonda IV 122,639 104,400 ACP landfill Márcia 306,389 306,389 Other environmental lawsuits (1) 539,410 424,143 47,688,078 40,794,950 (1) After the acquisitions of CSN Cimentos Brasil (formerly LafargeHolcim (Brasil) S.A.), Companhia Estadual de Geração de Energia Elétrica (CEEE-G), Companhia Energética Chapecó and Metalgráfica Iguaçu S.A. these line items were impacted by the existing legal cases of each entity. |
PROVISION FOR ENVIRONMENTAL L_2
PROVISION FOR ENVIRONMENTAL LIABILITIES AND ASSET RETIREMENT OBLIGATIONS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Provision For Environmental Liabilities And Asset Retirement Obligations | |
Schedule of provisions for environmental liabilities and asset retirement obligation | Schedule of provisions for environmental liabilities and asset retirement obligation Consolidated 12/31/2022 12/31/2021 Environmental liabilities 172,574 173,647 Asset retirement obligations 765,083 724,950 937,657 898,597 |
RELATED-PARTY BALANCES AND TR_2
RELATED-PARTY BALANCES AND TRANSACTIONS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Related-party Balances And Transactions | |
Schedule of transactions with subsidiaries, jointly controlled entities, associates, exclusive funds and other related parties | Schedule of transactions with subsidiaries, jointly controlled entities, associates, exclusive funds and other related parties Consolidated 12/31/2022 12/31/2021 Subsidiaries and associates Joint-ventures and Joint Operation Other related parties Total Subsidiaries and associates Joint-ventures and Joint Operation Other related parties Total Assets Current Assets Investments (1) 1,768,915 1,768,915 2,579,990 2,579,990 Trade receivables (note 6) (2) 48,236 1,182 59,716 109,134 8,159 1,667 134,570 144,396 Dividends receivable (note 9) (3) 77,377 77,377 61,898 14,980 76,878 Loans (note 9) (4) 5,383 5,383 4,511 4,511 Other receivables (note 9) 30 1,828 1,858 1,828 1,828 48,266 83,942 1,830,459 1,962,667 8,159 68,076 2,731,368 2,807,603 Non-current Assets Investments (1) 140,510 140,510 132,523 132,523 Loans (note 9) (4) 3,678 1,381,095 1,384,773 3,626 1,139,602 1,143,228 Actuarial asset (note 9) 35,477 35,477 59,111 59,111 Other receivables (note 9) (5) 1,484,759 1,484,759 927,077 927,077 3,678 2,865,854 175,987 3,045,519 3,626 2,066,679 191,634 2,261,939 51,944 2,949,796 2,006,446 5,008,186 11,785 2,134,755 2,923,002 5,069,542 Liabilities Current Liabilities Trade payables 93,115 37,448 130,563 21 62,730 14,712 77,463 Accounts payable 23,555 24,134 47,689 28,442 28,442 Provision for consumption 61,398 61,398 22,182 22,182 178,068 61,582 239,650 21 113,354 14,712 128,087 Non-current Liabilities Accounts payable 53,356 53,356 66,606 66,606 53,356 53,356 66,606 66,606 231,424 61,582 293,006 21 179,960 14,712 194,693 |
Schedule of transactions with subsidiaries, joint ventures, associates, exclusive funds and other related parties, by transaction - statement of income | Schedule of transactions with subsidiaries, joint ventures, associates, exclusive funds and other related parties, by transaction - statement of income Consolidated 12/31/2022 12/31/2021 Subsidiaries and associates Joint-ventures and Joint Operation Other related parties Total Subsidiaries and associates Joint-ventures and Joint Operation Other related parties Total P&L Sales 234,150 34,924 2,442,586 2,711,660 274,978 2,250 3,244,017 3,521,245 Cost and expenses (66) (1,538,194) (216,110) (1,754,370) (1,065) (1,273,740) (119,500) (1,394,305) Financial income (expenses) Interest (note 28) 144,355 29,828 174,183 251 49,293 32,246 81,790 Exchange rate variations and monetary, net (13,584) (13,584) Financial investments (1) (1,198,164) (1,198,164) 94,866 94,866 234,084 (1,358,915) 1,044,556 (80,275) 274,164 (1,222,197) 3,251,629 2,303,596 Consolidated Information: (1) Financial investments: (2) Accounts receivables: (3) Dividends receivable 59,469 320,945 14,785 56,344 (4) Loans (Assets): Long term 1,384,773 1,123,375 125.0 130.0 (5) Others (Assets): 1,484,759 927,076 |
Schedule of key management personnel | Schedule of key management personnel 12/31/2022 12/31/2021 12/31/2020 P&L Short-term benefits for employees and officers 52,001 46,747 40,522 Post-employment benefits 266 192 111 52,267 46,939 40,633 |
Schedule of guarantees | Schedule of guarantees Currency Maturities Borrowings Tax foreclosure Others Total 12/31/2022 12/31/2021 12/31/2022 12/31/2021 12/31/2022 12/31/2021 12/31/2022 12/31/2021 Transnordestina Logísitca R$ Up to 09/19/2056 and Indefinite 2,096,291 2,486,926 9,365 12,627 3,853 3,384 2,109,509 2,502,937 Controladas do Grupo R$ Up to 12/21/2024 and indefinite 771 197 197 2,163 2,754 2,360 3,722 CSN Mineração R$ Up to 12/21/2024 540,946 846,284 540,946 846,284 Total in R$ 2,637,237 3,333,981 9,562 12,824 6,016 6,138 2,652,815 3,352,943 CSN Inova Ventures US$ 01/28/2028 1,300,000 1,300,000 1,300,000 1,300,000 CSN Resources US$ Up to 04/17/2026 1,150,000 1,450,000 1,150,000 1,450,000 CSN Cimentos US$ Indefinite 115,000 1,025,000 115,000 1,025,000 Total in US$ 2,565,000 2,750,000 1,025,000 2,565,000 3,775,000 Lusosider Aços Planos EUR Indefinite 75,000 75,000 75,000 75,000 Total in EUR 75,000 75,000 75,000 75,000 Total in R$ 13,867,929 15,346,375 396,780 479,795 14,264,709 21,540,463 16,505,166 18,680,356 9,562 12,824 402,796 485,933 16,917,524 24,893,406 |
SHAREHOLDERS_ EQUITY (Tables)
SHAREHOLDERS’ EQUITY (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Shareholders Equity | |
Schedule of ownership structure | Schedule of ownership structure 12/31/2022 12/31/2021 Number of common shares % of total shares % of voting capital Number of common shares % of total shares % of voting capital Vicunha Aços S.A. (*) 679,522,254 51.24 51.24 679,522,254 48.97 50.65 Rio Iaco Participações S.A. (*) 45,706,242 3.45 3.45 45,706,242 3.29 3.41 NYSE (ADRs) 254,520,040 19.19 19.19 250,564,538 18.06 18.67 Other shareholders 346,345,411 26.12 26.12 365,941,013 26.38 27.27 Outstanding shares 1,326,093,947 100.00 100.00 1,341,734,047 96.70 100.00 Treasury shares 45,790,000 3.30 Total shares 1,326,093,947 100.00 1,387,524,047 100.00 (*) Controlling group companies. |
Schedule of earning per share | Schedule of treasury shares Program Board’s Authorization Authorized quantity Program period Average buyback price Minimum and maximum buyback price Number bought back Share cancelation Sale of shares Balance in treasury 04/20/2018 30,391,000 From 4/20/2018 to 4/30/2018 Not applicable Not applicable 22,981,500 7,409,500 1º 06/21/2021 24,154,500 From 06/22/2021 to 12/22/2021 R$ 21.82 R$ 20,06 23,22 24,082,000 31,491,500 2º 6/12/2021 30,000,000 From 12/07/2021 to 6/30/2022 R$ 25.00 R$ 17,20 26,76 29,938,600 61,430,100 05/18/2022 Not applicable Not applicable 61,430,100 3º 05/18/2022 58,000,000 From 05/19/2022 to 05/18/2023 At a Board of Directors Meeting held on May 18, 2022, the Company approved (i) the closing of the share repurchase program, (ii) cancellation of 61,430,100 which is now represented by 1,326,093,947 23.f) Earnings per share The earnings per share are shown below: Schedule of earning per share 12/31/2022 12/31/2021 12/31/2020 Common Shares Profit for the year 1,554,060 12,258,628 3,794,295 Weighted average number of shares 1,327,028,614 1,376,362,149 1,380,114,547 Basic and diluted earnings per share 1.17108 8.90654 2.74926 |
Schedule of earning per share | Schedule of earning per share 12/31/2022 12/31/2021 12/31/2020 Common Shares Profit for the year 1,554,060 12,258,628 3,794,295 Weighted average number of shares 1,327,028,614 1,376,362,149 1,380,114,547 Basic and diluted earnings per share 1.17108 8.90654 2.74926 |
SHAREHOLDER_S COMPENSATION (Tab
SHAREHOLDER’S COMPENSATION (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Shareholders Compensation | |
Schedule of deliberate and paid dividends | Schedule of deliberate and paid dividends 12/31/2022 Profit for the year 1,554,060 Capital reserve 5 (77,703) Interest on equity prescribed (1) 789 Net income after destination 1,477,146 Interest on equity (approved CA on 12/29/2022) (2) 700,000 Additional dividends proposed to the profit account (3) 777,146 In addition, the Administration proposes: Complementary dividends with Statutory Reserve (4) 836,854 |
NET REVENUE FROM SALES (Tables)
NET REVENUE FROM SALES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Net Revenue From Sales | |
Schedule of net sales revenue | Schedule of net sales revenue Consolidated 12/31/2022 12/31/2021 12/31/2020 Gross revenue Domestic market 30,343,033 29,724,648 16,652,801 Foreign market 20,691,181 25,090,313 17,396,259 51,034,214 54,814,961 34,049,060 Deductions Sales returns, discounts and rebates (371,189) (272,842) (248,821) Taxes on sales (6,300,905) (6,630,080) (3,736,219) (6,672,094) (6,902,922) (3,985,040) Net revenue 44,362,120 47,912,039 30,064,020 |
EXPENSES BY NATURE (Tables)
EXPENSES BY NATURE (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Expenses By Nature | |
Schedule of expenses by nature | Schedule of expenses by nature Consolidated 12/31/2022 12/31/2021 12/31/2020 Raw materials and inputs (14,572,337) (10,405,028) (6,928,517) Outsourcing material (3,265,627) (4,476,702) Labor cost (3,320,234) (2,746,454) (3,187,428) Supplies (3,501,649) (2,297,069) (2,150,452) Maintenance cost (services and materials) (916,646) (1,268,752) (1,340,255) Outsourcing services (2,178,589) (2,119,515) (2,217,657) Freight (2,826,821) (1,835,601) (1,637,585) Depreciation, amortization and depletion (2,792,845) (2,114,681) (2,421,458) Others (929,205) (1,533,119) (1,750,424) (34,303,953) (28,796,921) (21,633,776) Classified as: Cost of sales (31,054,016) (25,837,475) (19,124,901) Selling expenses (2,575,818) (2,372,298) (2,004,417) General and administrative expenses (674,119) (587,148) (504,458) (34,303,953) (28,796,921) (21,633,776) |
Schedule of depreciation, amortization and depletion | Schedule of depreciation, amortization and depletion Consolidated 12/31/2022 12/31/2021 12/31/2020 Production costs (1) (2,752,557) (2,075,488) (2,374,046) Selling expenses (13,948) (11,227) (13,978) General and administrative expenses (26,340) (27,966) (33,434) Total (2,792,845) (2,114,681) (2,421,458) Other operational (2) (77,386) (97,725) (95,270) Net (2,870,231) (2,212,406) (2,516,728) (1) The cost of production includes PIS and COFINS credits on lease agreements as of December 31, 2022, in the amount of R$7.429 (R$5.786 as of December 31, 2021 ) . (2) They mainly refer to the depreciation of investment properties, paralyzed equipment and amortization of the SWT customer portfolio, classified in other operating expenses, see note 27. |
OTHER OPERATING INCOME AND EX_2
OTHER OPERATING INCOME AND EXPENSES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Other Operating Income And Expenses | |
Schedule of other operating income (expenses) | Schedule of other operating income (expenses) Consolidated 12/31/2022 12/31/2021 12/31/2020 Other operating income Receivables by indemnity 10,588 13,646 245,945 Rentals and leases 17,178 11,688 9,096 Dividends received 832 26,600 1,197 PIS, COFINS and INSS to compensate 236,000 120,452 Contractual fines 11,863 1,468 4,783 Updated shares – Fair value through profit or loss (note 14) (95,620) 109,254 12,579 Net gain in shares sale (note 10.d) (1) 2,472,497 Other revenues (2) 308,392 87,219 32,747 Total Other operating income 253,233 2,958,372 482,494 - - - Other operating expenses Taxes and fees (372,897) (109,693) (46,338) Expenses/reversal with environmental liabilities, net (10,145) (8,789) 16,151 Write-off/(Provision) of judicial lawsuits (209,396) (25,063) (130,869) Depreciation and amortization (note 26) (77,386) (97,725) (95,270) Reversal/(Write-off) of estimated losses on property, plant and equipment, intangible assets and PPI, net of reversal (notes 10.f, 11 and 12) 24,133 (112,886) (13,130) Reversal of Impairment Fair Value Transnordestina 387,989 Estimated (Loss)/reversal in inventories (226,942) (138,779) (179,012) Idleness in stocks and paralyzed equipment (3) (122,031) (37,609) (303,975) Studies and project engineering expenses (58,443) (77,059) (27,137) Research and development expenses (461) (355) (620) Healthcare plan expenses (24,158) (31,989) (117,193) Cash flow hedge accounting realized (note 14) (4) (1,478,589) (553,018) (1,951,035) Actuarial pension plan (59,693) (48,068) Other expenses (679,836) (474,999) (421,628) Total Other operating expenses (2,907,855) (1,716,032) (3,270,056) Other operating income (expenses), net (2,654,622) 1,242,340 (2,787,562) (1) Refers to the gain on the public offering of CSN Mineração shares (see note 10.d); (2) In 2022 the undisputed amount of R$ 134,611 (3) In 2022, it is the unused capacity due to lower than usual production volume, because of the intense rains during the ore extraction operation; (4) This refers to the effects of a cash flow hedge in the Company in the amount of (R$ 1,393,034 85,555 |
FINANCIAL INCOME (EXPENSES) (Ta
FINANCIAL INCOME (EXPENSES) (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Financial Income | |
Schedule of financial income expenses | Schedule of financial income expenses Consolidated 12/31/2022 12/31/2021 12/31/2020 Financial income Related parties (Note 22 a) 184,480 93,862 51,124 Income from financial investments 763,259 279,467 58,061 Updated shares – Fair value through profit or loss (note 14.d) (1) (1,198,164) 385,297 1,190,489 Other income 172,205 408,558 503,054 Financial income (78,220) 1,167,184 1,802,728 Financial expenses Borrowings and financing - foreign currency (note 13) (1,238,372) (1,590,120) (1,600,973) Borrowings and financing - local currency (note 13) (1,356,639) (503,849) (401,079) Capitalised interest (note 11) 135,242 87,414 92,506 Related parties (10,297) (12,072) (13,608) Lease liabilities (68,533) (59,260) (50,804) Interest and fines (95,667) (73,334) (290,673) Interest on drawn/forfaiting risk operations (444,062) (126,232) - (-) Adjustment present value of trade payables (419,517) (265,495) (139,566) Commission, bank fees, Guarantee and bank fees (165,397) (239,451) (162,085) PIS/COFINS over financial income (118,311) (88,897) (39,149) Other financial expenses (390,598) (285,832) (270,764) Financial expenses (4,172,151) (3,157,128) (2,876,195) Others financial items, net Foreign exchange and monetary variation, net 783,902 46,199 392,971 Gains and (losses) on exchange derivatives (*) (48,556) (439) (115,815) Others financial 735,346 45,760 277,156 Financial income (expenses) (3,436,805) (3,111,368) (2,599,039) Financial income (expenses), net (3,515,025) (1,944,184) (796,311) (*) Statement of gains and (losses) on derivative transactions (note 14.c) Dollar - to - real NDF 176,991 37,322 Exchange rate swap Real x Dollar (11,467) Exchange rate swap Dollar x Euro 7,119 (9,070) Exchange rate swap GBP x Euro (602) Interest rate swap CDI x IPCA (257,897) (34,920) Exchange rate swap CDI x Dollar 43,817 (9,960) (106,143) Total (48,556) (439) (115,815) |
SEGMENT INFORMATION (Tables)
SEGMENT INFORMATION (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Segment Information | |
Schedule of consolidated results | Schedule of consolidated results 12/31/2022 P&L Steel Mining Logistics Energy Cement Corporate expenses/ elimination Consolidated Port Railroads Net revenues Domestic market 20,588,235 1,700,051 307,999 2,311,754 293,035 2,819,551 (4,063,084) 23,957,541 Foreign market 8,752,776 10,825,080 826,723 20,404,579 Cost of sales and services (note 26) (23,256,319) (7,105,424) (220,491) (1,507,028) (287,340) (1,974,415) 3,297,001 (31,054,016) Gross profit 6,084,692 5,419,707 87,508 804,726 5,695 845,136 60,640 13,308,104 General and administrative expenses (note 26) (1,314,352) (352,152) (32,976) (153,294) (43,786) (386,230) (967,147) (3,249,937) Other operating (income) expenses, net (note 27) (777,976) (449,871) (14,353) 33,927 39,376 (105,018) (1,380,707) (2,654,622) Equity in results of affiliated companies (note 10) 237,917 237,917 Operating result before Financial Income and Taxes 3,992,364 4,617,684 40,179 685,359 1,285 353,888 (2,049,297) 7,641,462 Sales by geographic area Asia 9,514,509 826,723 10,341,232 North America 2,018,046 2,018,046 Latin America 382,128 382,128 Europe 6,351,536 1,310,571 7,662,107 Others 1,066 1,066 Foreign market 8,752,776 10,825,080 826,723 20,404,579 Domestic market 20,588,235 1,700,051 307,999 2,311,754 293,035 2,819,551 (4,063,084) 23,957,541 Total 29,341,011 12,525,131 307,999 2,311,754 293,035 2,819,551 (3,236,361) 44,362,120 12/31/2021 P&L Steel Mining Logistics Energy Cement Corporate expenses/ elimination Consolidated Port Railroads Net revenues Domestic market 21,400,318 3,114,385 311,040 1,839,307 222,785 1,430,150 (5,084,155) 23,233,830 Foreign market 8,691,130 14,929,001 1,058,078 24,678,209 Cost of sales and services (note 26) (20,081,043) (7,705,835) (220,494) (1,266,112) (146,349) (892,900) 4,475,259 (25,837,475) Gross profit 10,010,405 10,337,551 90,546 573,195 76,436 537,250 449,182 22,074,564 General and administrative expenses (note 26) (1,158,748) (351,371) (33,853) (135,091) (32,083) (190,986) (1,057,314) (2,959,446) Other operating (income) expenses, net (note 27) (405,018) (287,744) (8,290) 58,253 41,337 (63,631) 1,907,433 1,242,340 Equity in results of affiliated companies (note 10) 182,504 182,504 Operating result before Financial Income and Taxes 8,446,639 9,698,436 48,403 496,357 85,690 282,633 1,481,805 20,539,962 Sales by geographic area Asia 12,627,913 1,058,078 13,685,991 North America 2,275,612 2,275,612 Latin America 355,912 355,912 Europe 6,059,606 2,301,088 8,360,694 Foreign market 8,691,130 14,929,001 1,058,078 24,678,209 Domestic market 21,400,318 3,114,385 311,040 1,839,307 222,785 1,430,150 (5,084,155) 23,233,830 Total 30,091,448 18,043,386 311,040 1,839,307 222,785 1,430,150 (4,026,077) 47,912,039 12/31/2020 Steel Mining Logistics Energy Cement Corporate expenses/ elimination Consolidated Port Railroads Net revenue (note 25) 16,602,895 12,683,231 256,371 1,489,647 172,859 858,192 (1,999,175) 30,064,020 Cost of sales and services (note 26) (14,170,692) (5,531,763) (187,860) (1,094,130) (128,227) (647,132) 2,634,903 (19,124,901) Gross profit 2,432,203 7,151,468 68,511 395,517 44,632 211,060 635,728 10,939,119 General and administrative expenses (note 26) (922,862) (179,806) (21,949) (114,970) (30,243) (88,232) (1,150,813) (2,508,875) Other operating (income) expenses, net (note 27) (392,061) (665,881) (5,420) 52,569 (2,967) (44,893) (1,728,909) (2,787,562) Equity in results of affiliated companies (note 10) 71,755 71,755 Operating result before Financial Income and Taxes 1,117,280 6,305,781 41,142 333,116 11,422 77,935 (2,172,239) 5,714,437 Sales by geographic area Asia 7,461,791 1,144,614 8,606,405 North America 922,299 922,299 Latin America 327,900 995 328,895 Europe 3,627,011 3,688,851 7,315,862 Others 4,346 4,346 Foreign market 4,881,556 11,150,642 995 1,144,614 17,177,807 Domestic market 11,721,339 1,532,589 256,371 1,489,647 172,859 857,197 (3,143,789) 12,886,213 Total 16,602,895 12,683,231 256,371 1,489,647 172,859 858,192 (1,999,175) 30,064,020 |
EMPLOYEE BENEFITS (Tables)
EMPLOYEE BENEFITS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Employee Benefits | |
Schedule of actuarial employee benefit assets and liabilities | Schedule of actuarial employee benefit assets and liabilities Consolidated 12/31/2022 12/31/2021 12/31/2022 12/31/2021 Actuarial asset Actuarial liabilities Benefits of pension plans (35,477) (59,111) Post-employment healthcare benefits 537,290 584,288 (35,477) (59,111) 537,290 584,288 |
Schedule of reconciliation of employee benefits' assets and liabilities | Schedule of reconciliation of employee benefits' assets and liabilities Consolidated 12/31/2022 12/31/2021 12/31/2020 Present value of defined benefit obligation 3,110,848 3,151,609 3,645,822 Fair value of plan assets (3,572,869) (3,584,244) (3,766,194) Surplus (462,021) (432,635) (120,372) Restriction to actuarial assets due to recovery limitation 426,544 373,524 186,099 Liabilities (Assets), net (35,477) (59,111) 65,727 |
Schedule of defined benefit obligation | Schedule of defined benefit obligation Consolidated 12/31/2022 12/31/2021 12/31/2020 Present value of obligations at the beginning of the year 3,151,609 3,645,822 3,581,460 Consolidation of CSN Cimentos Brasil 67,640 Cost of service 1,225 1,253 968 Interest cost 324,041 231,009 236,551 Participant contributions made in the year 1,382 1,398 1,998 Benefits paid (310,471) (283,393) (278,960) Actuarial loss/(gain) (124,578) (444,480) 103,805 Present value of obligations at the end of the year 3,110,848 3,151,609 3,645,822 |
Schedule of changes in fair value of the plan assets | Schedule of changes in fair value of the plan assets Consolidated 12/31/2022 12/31/2021 12/31/2020 Fair value of plan assets at the beginning of the year (3,584,244) (3,766,193) (3,894,488) Consolidation of CSN Cimentos Brasil (63,292) Interest income (369,488) (238,534) (257,946) Benefits Paid 310,471 283,393 278,960 Participant contributions made in the year (1,382) (1,398) (1,998) Employer contributions made in the year (144) Return on plan assets (less interest income) 135,210 138,488 109,279 Fair value of plan assets at the end of the year (3,572,869) (3,584,244) (3,766,193) |
Schedule of employee benefits recognized in the income statement | Schedule of employee benefits recognized in the income statement Consolidated 12/31/2022 12/31/2021 12/31/2020 Cost of current service 1,225 1,253 968 Interest cost 324,041 231,009 236,551 Expected return on plan assets (369,488) (238,534) (257,946) Interest on the asset ceiling effect 39,416 11,985 21,737 Total costs / (income), net (4,806) 5,713 1,310 |
Schedule of actuarial gains and losses | Schedule of actuarial gains and losses Consolidated 12/31/2022 12/31/2021 12/31/2020 Actuarial losses and (gains) (124,578) (444,480) 103,805 Return on plan assets (less interest income) 135,210 138,488 109,279 Change in the asset’s limit (excluding interest income) 13,604 175,440 (154,741) Total cost of actuarial losses and (gains) 24,236 (130,552) 58,343 |
Schedule of breakdown of actuarial gains or losses | Schedule of breakdown of actuarial gains or losses Consolidated 12/31/2022 12/31/2021 12/31/2020 Loss due to change in demographic assumptions 67,930 Loss due to change in financial assumptions (204,485) (647,564) (30,454) Loss due to experience adjustments 79,907 203,084 66,329 Return on plan assets (less interest income) 135,210 138,489 109,279 Change in the asset’s limit (excluding interest income) 13,604 175,440 (154,741) Actuarial losses and (gains) 24,236 (130,551) 58,343 |
Schedule of actuarial assumptions used | Schedule of actuarial assumptions used 12/31/2022 12/31/2021 Actuarial financing method Projected unit credit Projected unit credit Functional currency Real (R$) Real (R$) Recognition of plan assets Fair value Fair value Nominal discount rate Plan 35%: 6.10% Millennium Plan: 6,95% Inflation rate 5.31 5.03 Nominal salary increase rate 1.00 6.08 Nominal benefit increase rate 5.31 5.03 Rate of return on investments Millennium Plan: 6.14% Millennium Plan: 10.71% General mortality table Millennium Plan: AT-2012 segregated by gender Millennium Plan: AT-2012 segregated by gender Disability table Supplementation: Not applied Supplementation: Not applied Disability mortality table Millennium Plan: AT 71 Millennium Plan: AT 71 Turnover table Millennium Plan 5% per year Millennium Plan 5% per year Retirement age 100% on the first date he/she becomes eligible for programmed retirement benefit under the plan 100% on the first date he/she becomes eligible for programmed retirement benefit under the plan Household of active participants 95% will be married at the time of retirement, with the wife being 4 years younger than the husband 95% will be married at the time of retirement, with the wife being 4 years younger than the husband |
Schedule of average life expectancy | Schedule of average life expectancy Plan covering 35% of the average salary Average salary supplementation plan Mixed supplementary benefit plan (Milênio Plan) Plan ACT - Mauá Prev Longevity at age of 65 for current participants 12/31/2022 12/31/2021 12/31/2022 12/31/2021 12/31/2022 12/31/2021 12/31/2022 Male 18.38 18.38 18.75 18.75 21.47 21.47 22.17 Female 18.38 18.38 21.41 21.41 23.34 23.34 19.55 Longevity at age of 40 for current participants Male 40.15 40.15 40.60 40.60 44.07 44.07 40.15 Female 40.15 40.15 44.41 44.41 46.28 46.28 45.30 |
Schedule of allocation of plan assets | Schedule of allocation of plan assets 12/31/2022 12/31/2021 12/31/2020 Variable income 193,948 5.43 195,032 5.44 54,285 1.44 Fixed income 3,106,206 86.94 3,127,736 87.26 3,438,735 91.31 Real estate 207,223 5.80 190,474 5.31 182,145 4.84 Others 65,492 1.83 71,001 1.98 91,028 2.42 Total 3,572,869 100.00 3,584,243 100.00 3,766,193 100.00 |
Schedule of sensitivity analysis | Schedule of sensitivity analysis Consolidated Effect of Plans Assumption: Discount rate Sensitivity level 0.5 -0.5 Effect on current service cost and on interest on actuarial obligations (13,628) 14,646 Effect on present value of obligations (116,302) 124,915 Assumption: Salary growth Sensitivity level 0.5 -0.5 Effect on current service cost and on interest on actuarial obligations 116 (108) Effect on present value of obligations 1,148 (1,081) Assumption: Benefit adjustment Sensitivity level 0.5 -0.5 Effect on current service cost and on interest on actuarial obligations 1,728 (1,728) Effect on present value of obligations 14,713 (14,713) Assumption: Mortality table Sensitivity level +1 ano - 1 ano Effect on current service cost and on interest on actuarial obligations 8,572 (8,681) Effect on present value of obligations 72,993 (73,913) |
Schedule of forecast benefit payments of the defined benefit plans | Schedule of forecast benefit payments of the defined benefit plans Forecast payments 2022 Year 1 331,781 Year 2 309,844 Year 3 301,196 Year 4 293,367 Year 5 284,533 Next 5 years 1,286,222 Total forecast payments 2,806,943 |
Schedule of post-employment health care plan amounts | Schedule of post-employment health care plan amounts 12/31/2022 12/31/2021 12/31/2020 Present value of obligations 537,290 584,288 678,880 Liabilities 537,290 584,288 678,880 |
Schedule of reconciliation of the healthcare liabilities | Schedule of reconciliation of the healthcare liabilities 12/31/2022 12/31/2021 12/31/2020 Actuarial liability at the beginning of the year 584,288 678,880 892,396 Expenses recognized in income for the year 57,926 42,355 57,731 Sponsor’s contributions transferred in prior year (62,213) (73,324) (81,340) Recognition of actuarial loss/(gain) (42,711) (63,623) (189,907) Actuarial liability at the end of the year 537,290 584,288 678,880 |
Schedule of actuarial gains and losses recognized in shareholders' equity | Schedule of actuarial gains and losses recognized in shareholders' equity 12/31/2022 12/31/2021 12/31/2020 Actuarial gain (loss) on obligation (42,711) (63,623) (189,907) Gain/(loss) recognized in shareholders' equity (42,711) (63,623) (189,907) |
Schedule of weighted average life expectancy | Schedule of weighted average life expectancy 12/31/2022 12/31/2021 12/31/2020 Longevity at age of 65 for current participants Male 20.24 20.24 20.24 Female 20.24 20.24 20.24 Longevity at age of 40 for current participants Male 42.74 42.74 42.74 Female 42.74 42.74 42.74 |
Schedule of actuarial assumptions used for calculating postemployment healthcare benefits | Schedule of actuarial assumptions used for calculating postemployment healthcare benefits 12/31/2022 12/31/2021 Biometric and Demographic General mortality table AT 2000 segregated by gender 20% AT 2000 segregated by gender 20% Financial Actuarial nominal discount rate 6.10 10.55 Inflation 5.31 5.03 Real increase in medical costs based on age (Aging Factor) 0,5% - 3,00% real a.a. 0,5% - 3,00% real a.a. Nominal increase medical costs growth rate 4.10 4.10 Average medical cost (Claim cost) 1,084.14 1,011.42 |
Schedule of quantitative sensitivity analysis for significant assumptions | Schedule of quantitative sensitivity analysis for significant assumptions 12/31/2022 Healthcare Plan Assumption: Discount rate Sensitivity level 0.5 -0.5 Effect on current service cost and on interest on actuarial obligations 489 (529) Effect on present value of obligations (17,379) 18,672 Assumption: Medical Inflation Sensitivity level 1.0 -1.0 Effect on current service cost and on interest on actuarial obligations 4,923 (4,334) Effect on present value of obligations 41,959 (36,932) Assumption: Mortality Table Sensitivity level +1 ano - 1 ano Effect on current service cost and on interest on actuarial obligations 3,755 (3,556) Effect on present value of obligations 32,004 (30,305) |
Schedule of forecast benefit payments of the postemployment healthcare plans | Schedule of forecast benefit payments of the postemployment healthcare plans Forecast benefit payments 12/31/2022 Year 1 67,596 Year 2 64,264 Year 3 60,913 Year 4 57,523 Year 5 54,116 Next 5 years 220,269 Total forecast payments 524,681 |
COMMITMENTS (Tables)
COMMITMENTS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Commitments | |
Schedule of take-or-pay contracts | Schedule of take-or-pay contracts Payments in the period Type of service 2021 2022 2023 2024 2025 After 2025 Total Transportation of iron ore, coal, coke, steel products, cement and mining products. 1,351,564 1,568,658 1,621,040 1,645,983 1,658,897 1,306,279 6,232,199 Supply of power, natural gas, oxygen, nitrogen, argon and iron ore pellets. 1,546,308 2,191,442 1,618,085 1,423,546 330,600 740,584 4,112,815 Processing of slag generated during pig iron and steel production. 73,983 84,140 54,163 8,024 62,187 Manufacturing, repair, recovery and production of ingot casting machine units. 3,499 Oil Storage and Handling 2,489 2,567 2,893 723 3,616 Labor and consultancy services 33,375 33,300 33,712 33,712 26,089 130,443 223,956 3,011,218 3,880,107 3,329,893 3,111,988 2,015,586 2,177,306 10,634,773 |
ADDITIONAL INFORMATION TO CAS_2
ADDITIONAL INFORMATION TO CASH FLOWS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Additional Information To Cash Flows | |
Schedule of additional information related to statement of cash flows | Schedule of additional information related to statement of cash flows Consolidated 12/31/2022 12/31/2021 12/31/2020 Income tax and social contribution paid 3,100,349 3,062,047 542,877 Addition to PP&E with interest capitalization (notes 11 and 28) 135,242 87,414 92,506 Remeasurement and addition – Right of use (note 11 i) 125,946 171,215 109,993 Addition to PP&E without adding cash 60,329 69,788 30,345 Capitalization in subsidiaries without cash 367,000 104,809 Addition to investment property without cash effect 61,597 Net additional cash 3,788,866 3,390,464 942,127 |
DESCRIPTION OF BUSINESS (Detail
DESCRIPTION OF BUSINESS (Details Narrative) - shares | Dec. 22, 2022 | Oct. 07, 2022 | Jul. 31, 2022 |
IfrsStatementLineItems [Line Items] | |||
Percentage of sale | 100% | ||
Shares issued | 6,381,908 | ||
Percentage of equivalent | 66.23% | ||
Companhia Florestaldo Brasil [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Percentage of interest | 99% | ||
Companhia Energetica Chapeco [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Percentage of interest | 100% |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - R$ / shares | Dec. 31, 2022 | Dec. 31, 2021 |
United States of America, Dollars | ||
IfrsStatementLineItems [Line Items] | ||
Exchange rates | R$ 1 | |
Brazil, Brazil Real | ||
IfrsStatementLineItems [Line Items] | ||
Exchange rates | 5.2177 | R$ 5.5805 |
Brazil, Brazil Real | Brazilian Central Bank [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Exchange rates | 5.5694 | R$ 6.3210 |
Euro Member Countries, Euro | ||
IfrsStatementLineItems [Line Items] | ||
Exchange rates | R$ 1 |
BUSINESS COMBINATION (Details)
BUSINESS COMBINATION (Details) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Sep. 06, 2022 | Dec. 31, 2022 | |
IfrsStatementLineItems [Line Items] | ||
Capital increase | R$ 133100 | R$ 263 |
Issuance of common shares | 122,110,092 | 571,251 |
Metalgrafica Lguacu S. A [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Purchase price considered for the business combination | 133,363 | |
Equity Interests Issued [Member] | Metalgrafica Lguacu S. A [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Determination of comment | The Prada issued new shares that were delivered to Metalgrafica's shareholders | |
Purchase price considered for the business combination | 263 | |
Equity Interests Issued 1 [Member] | Metalgrafica Lguacu S. A [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Determination of comment | The Metalgrafica issued new shares which were acquired by Prada | |
Purchase price considered for the business combination | 133,100 |
BUSINESS COMBINATION (Details 1
BUSINESS COMBINATION (Details 1) - Metalgrafica Lguacu S. A [Member] | Mar. 31, 2022 shares |
IfrsStatementLineItems [Line Items] | |
Discounted Cash Flow | 59,353 |
Discounted residual value | 33,973 |
Enterprise value | 93,326 |
Indebtdness net | (109,133) |
Non-operating assets/liabilities | 16,070 |
Equity value | 263 |
BUSINESS COMBINATION (Details 2
BUSINESS COMBINATION (Details 2) - Metalgrafica Lguacu S. A [Member] R$ in Thousands | 12 Months Ended |
Dec. 31, 2022 BRL (R$) | |
IfrsStatementLineItems [Line Items] | |
Purchase price considered | R$ 133363 |
Fair value of the assets and liabilities acquired | 121,948 |
Goodwill for future profitability expected | R$ 11415 |
BUSINESS COMBINATION (Details 3
BUSINESS COMBINATION (Details 3) - Metalgrafica Lguacu S. A [Member] R$ in Thousands | Dec. 31, 2022 BRL (R$) |
Carrying amount [member] | |
IfrsStatementLineItems [Line Items] | |
Current Assets | R$ 23924 |
Cash and cash equivalents | 569 |
Trade receivables | 7,249 |
Inventories | 4,435 |
Other assets | 713 |
Recoverable taxes and contributions | 10,958 |
Non-current Assets | 58,408 |
Recoverable taxes and contributions | 38,649 |
Other assets | 1,856 |
Investments | 10 |
Property, plant and equipment | 17,750 |
Intangibles | 143 |
Total assets acquired | 82,332 |
Current Liabilities | 134,464 |
Borrowings and financing | 89,852 |
Trade payables | 17,114 |
Labor obligations | 17,339 |
Taxes payable | 181 |
Advances from customers | 1,158 |
Installments | 2,227 |
Other accounts | 6,593 |
Non-current Liabilities | 31,204 |
Borrowings and financing | 21,844 |
Installments | 6,462 |
Other accounts | 2,898 |
Total liabilities assumed | 165,668 |
Net equity acquired | (83,336) |
Proforma Adjustment [Member] | |
IfrsStatementLineItems [Line Items] | |
Current Assets | 133,100 |
Other assets | 133,100 |
Total assets acquired | 133,100 |
Net equity acquired | 133,100 |
Fair Value Adjustments [Member] | |
IfrsStatementLineItems [Line Items] | |
Non-current Assets | 72,184 |
Property, plant and equipment | 72,184 |
Total assets acquired | 72,184 |
Net equity acquired | 72,184 |
Total Fair Value [Member] | |
IfrsStatementLineItems [Line Items] | |
Current Assets | 157,024 |
Cash and cash equivalents | 569 |
Trade receivables | 7,249 |
Inventories | 4,435 |
Other assets | 133,813 |
Recoverable taxes and contributions | 10,958 |
Non-current Assets | 130,592 |
Recoverable taxes and contributions | 38,649 |
Other assets | 1,856 |
Investments | 10 |
Property, plant and equipment | 89,934 |
Intangibles | 143 |
Total assets acquired | 287,616 |
Current Liabilities | 134,464 |
Borrowings and financing | 89,852 |
Trade payables | 17,114 |
Labor obligations | 17,339 |
Taxes payable | 181 |
Advances from customers | 1,158 |
Installments | 2,227 |
Other accounts | 6,593 |
Non-current Liabilities | 31,204 |
Borrowings and financing | 21,844 |
Installments | 6,462 |
Other accounts | 2,898 |
Total liabilities assumed | 165,668 |
Net equity acquired | R$ 121948 |
BUSINESS COMBINATION (Details N
BUSINESS COMBINATION (Details Narrative) - BRL (R$) R$ in Thousands | 1 Months Ended | 12 Months Ended | |||||||
Oct. 07, 2022 | Oct. 02, 2022 | Sep. 06, 2022 | Aug. 31, 2022 | Jun. 30, 2022 | Sep. 30, 2021 | Aug. 31, 2021 | Dec. 31, 2022 | Jul. 31, 2022 | |
IfrsStatementLineItems [Line Items] | |||||||||
Capital increase | R$ 133100 | R$ 263 | |||||||
Issuance of common shares | 122,110,092 | 571,251 | |||||||
Fair value adjustment | R$ 376294 | R$ 259602 | R$ 72184 | ||||||
Percentage of sale | 100% | ||||||||
Shares issued | 6,381,908 | ||||||||
Percentage of equivalent | 66.23% | ||||||||
Payment for acquisition | R$ 960733 | ||||||||
Payment for equivalent | 5,013,436 | ||||||||
Production capacity | 16,300 | ||||||||
Clinker [Member] | |||||||||
IfrsStatementLineItems [Line Items] | |||||||||
Production capacity | 6,800 | ||||||||
Cement [Member] | |||||||||
IfrsStatementLineItems [Line Items] | |||||||||
Production capacity | R$ 11000 | ||||||||
C S N Cimentos Brasil S A [Member] | |||||||||
IfrsStatementLineItems [Line Items] | |||||||||
Fair value adjustment | R$ 575875 | ||||||||
Acquisition percentage | 100% | ||||||||
Payment for acquisition | R$ 960733 | R$ 910733 | |||||||
Payment for equivalent | R$ 5013436 | R$ 4752296 | |||||||
Percentage of acquisition | 12% | 99.97% | |||||||
Companhia Energetica Chapeco [Member] | |||||||||
IfrsStatementLineItems [Line Items] | |||||||||
Fair value adjustment | R$ 278636 | ||||||||
Acquisition percentage | 100% | ||||||||
Percentage of acquisition | 100% | ||||||||
Elizabeth Mineracao [Member] | |||||||||
IfrsStatementLineItems [Line Items] | |||||||||
Percentage of acquisition | 99.99% | ||||||||
Elizabeth Cimentos [Member] | |||||||||
IfrsStatementLineItems [Line Items] | |||||||||
Percentage of acquisition | 88.746% | ||||||||
Elizabeth Mineraca [Member] | |||||||||
IfrsStatementLineItems [Line Items] | |||||||||
Percentage of acquisition | 11.254% | ||||||||
Elizabeth Cimentos And Elizabeth Mineracao [Member] | |||||||||
IfrsStatementLineItems [Line Items] | |||||||||
Fair value adjustment | R$ 567297 | ||||||||
Goodwill expected future profitability | R$ 83266 | ||||||||
Reclassified goodwill fair value | R$ 27667 |
BUSINESS COMBINATION (Details 4
BUSINESS COMBINATION (Details 4) - BRL (R$) R$ in Thousands | 1 Months Ended | 12 Months Ended | |
Jun. 30, 2022 | Dec. 31, 2022 | ||
Santa Ana Energetica [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Purchase price considered for the business combination | 37,292 | ||
Topazio Energetica [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Purchase price considered for the business combination | 428,861 | ||
C S N Cimentos [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Transaction amount | R$ 466153 | ||
C S N Energia [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Transaction amount | R$ 466153 | ||
Assets Transferred [Member] | Santa Ana Energetica [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Purchase price considered for the business combination | [1] | 37,292 | |
Assets Transferred [Member] | Topazio Energetica [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Purchase price considered for the business combination | [1] | 428,861 | |
[1]On June 30, 2022, the transaction was concluded with the payment by CSN Cimentos and CSN Energia in the amount of R$ 466,153 |
BUSINESS COMBINATION (Details 5
BUSINESS COMBINATION (Details 5) R$ in Thousands | Dec. 31, 2022 BRL (R$) |
Carrying amount [member] | Santa Ana Energetica [Member] | |
IfrsStatementLineItems [Line Items] | |
Cash and cash equivalents | R$ 1602 |
Trade receivables | 13 |
Inventories | 422 |
Recoverable taxes | 2 |
Property, plant and equipment | 28,163 |
Total assets acquired | 30,202 |
Accounts payable | 2 |
Taxes payable | 72 |
Other payables | 92 |
Leases | 26 |
Total liabilities assumed | 192 |
Net equity acquired | 30,010 |
Carrying amount [member] | Topazio Energetica [Member] | |
IfrsStatementLineItems [Line Items] | |
Cash and cash equivalents | 3,493 |
Trade receivables | 199 |
Inventories | 647 |
Recoverable taxes | 87 |
Other assets | 21 |
Property, plant and equipment | 173,494 |
Total assets acquired | 177,941 |
Accounts payable | 179 |
Taxes payable | 821 |
Salaries and social charges | 167 |
Leases | 233 |
Total liabilities assumed | 1,400 |
Net equity acquired | 176,541 |
Fair Value Adjustments [Member] | Santa Ana Energetica [Member] | |
IfrsStatementLineItems [Line Items] | |
Property, plant and equipment | 10,482 |
Intangíible assets | (3,200) |
Total assets acquired | 7,282 |
Net equity acquired | 7,282 |
Fair Value Adjustments [Member] | Topazio Energetica [Member] | |
IfrsStatementLineItems [Line Items] | |
Property, plant and equipment | (79,317) |
Intangíible assets | 331,637 |
Total assets acquired | 252,320 |
Net equity acquired | 252,320 |
Total Fair Value [Member] | Santa Ana Energetica [Member] | |
IfrsStatementLineItems [Line Items] | |
Cash and cash equivalents | 1,602 |
Trade receivables | 13 |
Inventories | 422 |
Recoverable taxes | 2 |
Property, plant and equipment | 38,645 |
Intangíible assets | (3,200) |
Total assets acquired | 37,484 |
Accounts payable | 2 |
Taxes payable | 72 |
Other payables | 92 |
Leases | 26 |
Total liabilities assumed | 192 |
Net equity acquired | 37,292 |
Total Fair Value [Member] | Topazio Energetica [Member] | |
IfrsStatementLineItems [Line Items] | |
Cash and cash equivalents | 3,493 |
Trade receivables | 199 |
Inventories | 647 |
Recoverable taxes | 87 |
Other assets | 21 |
Property, plant and equipment | 94,177 |
Intangíible assets | 331,637 |
Total assets acquired | 430,261 |
Accounts payable | 179 |
Taxes payable | 821 |
Salaries and social charges | 167 |
Leases | 233 |
Total liabilities assumed | 1,400 |
Net equity acquired | R$ 428861 |
BUSINESS COMBINATION (Details 6
BUSINESS COMBINATION (Details 6) - Estadual De Geracao De Energia Eletrica C E E E G [Member] - BRL (R$) R$ in Thousands | 1 Months Ended | 12 Months Ended | |
Oct. 21, 2022 | Dec. 31, 2022 | ||
IfrsStatementLineItems [Line Items] | |||
Purchase price considered for the business combination | 928,000 | ||
Transaction amount | R$ 928000 | ||
Assets Transferred 1 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Determination of comment | Payment made at the conclusion of the transaction | ||
Purchase price considered for the business combination | [1] | 928,000 | |
[1]On October 21, 2022, the transaction was concluded with the payment by the Company of R$ 928,000 |
BUSINESS COMBINATION (Details 7
BUSINESS COMBINATION (Details 7) R$ in Thousands | 12 Months Ended |
Dec. 31, 2022 BRL (R$) | |
Carrying amount [member] | Estadual De Geracao De Energia Eletrica C E E E G [Member] | |
IfrsStatementLineItems [Line Items] | |
Cash and cash equivalents | R$ 661864 |
Trade receivables | 51,333 |
Inventories | 2,636 |
Recoverable taxes | 5,043 |
Other assets | 125,516 |
Judicial deposits and guarantees | 59,335 |
Investments | 312,800 |
Property, plant and equipment | 31,853 |
Intangíible assets | 2,041,196 |
Total assets acquired | 3,291,576 |
Trade payables | 22,928 |
Taxes payable | 19,951 |
Salaries and social charges | 16,343 |
Deferred taxes | (65,560) |
Judicial contingencies | 306,400 |
Other payables | 134,380 |
Bonus grant payable | 2,024,118 |
Total liabilities assumed | 2,458,560 |
Net equity acquired | 833,016 |
Equity acquired (66.23%) | 551,706 |
Property, plant and equipment | 312,800 |
Fair Value Adjustments [Member] | Estadual De Geracao De Energia Eletrica C E E E G [Member] | |
IfrsStatementLineItems [Line Items] | |
Investments | 359,024 |
Intangíible assets | 17,270 |
Total assets acquired | 376,294 |
Net equity acquired | 376,294 |
Equity acquired (66.23%) | 376,294 |
Property, plant and equipment | 359,024 |
Total Fair Value [Member] | Estadual De Geracao De Energia Eletrica C E E E G [Member] | |
IfrsStatementLineItems [Line Items] | |
Cash and cash equivalents | 661,864 |
Trade receivables | 51,333 |
Inventories | 2,636 |
Recoverable taxes | 5,043 |
Other assets | 125,516 |
Judicial deposits and guarantees | 59,335 |
Investments | 671,824 |
Property, plant and equipment | 31,853 |
Intangíible assets | 2,058,466 |
Total assets acquired | 3,667,870 |
Trade payables | 22,928 |
Taxes payable | 19,951 |
Salaries and social charges | 16,343 |
Deferred taxes | (65,560) |
Judicial contingencies | 306,400 |
Other payables | 134,380 |
Bonus grant payable | 2,024,118 |
Total liabilities assumed | 2,458,560 |
Net equity acquired | 1,209,310 |
Equity acquired (66.23%) | 928,000 |
Property, plant and equipment | R$ 671824 |
Business Investments [Member] | Estadual De Geracao De Energia Eletrica C E E E G [Member] | |
IfrsStatementLineItems [Line Items] | |
Description of basis of valuation of assets available for benefits | Initially evaluated by the FDC - Discounted Cash Flow method for each investment, however, certain stakes are tied to purchase options with third parties at prices predetermined in the auction notice. Therefore, the fair value of these investments was measured considering the lower of the value identified in the FDC and the value of the purchase option |
Intangible Assets [Member] | Estadual De Geracao De Energia Eletrica C E E E G [Member] | |
IfrsStatementLineItems [Line Items] | |
Description of basis of valuation of assets available for benefits | Evaluated by the MPEEM method that measures the present value of future income to be generated during the remaining useful life of a given asset. Using the analysis of the company's projected results as a reference, the pre-tax cash flows directly attributable to the asset are calculated, as of the base date stipulated in the evaluation. |
Carrying Amoun 1t [Member] | Estadual De Geracao De Energia Eletrica C E E E G [Member] | |
IfrsStatementLineItems [Line Items] | |
Intangibles assets | R$ 2041196 |
Fair Value Adjustments 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Property, plant and equipment | (68,835) |
Fair Value Adjustments 1 [Member] | Estadual De Geracao De Energia Eletrica C E E E G [Member] | |
IfrsStatementLineItems [Line Items] | |
Intangibles assets | 17,270 |
Total Fair Value 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Property, plant and equipment | 132,589 |
Total Fair Value 1 [Member] | Estadual De Geracao De Energia Eletrica C E E E G [Member] | |
IfrsStatementLineItems [Line Items] | |
Intangibles assets | 2,058,466 |
Carrying Amount One [Member] | Estadual De Geracao De Energia Eletrica C E E E G [Member] | |
IfrsStatementLineItems [Line Items] | |
Property, plant and equipment | 2,353,996 |
Fair Value Adjustments One [Member] | Estadual De Geracao De Energia Eletrica C E E E G [Member] | |
IfrsStatementLineItems [Line Items] | |
Property, plant and equipment | 376,294 |
Total Fair Value One [Member] | Estadual De Geracao De Energia Eletrica C E E E G [Member] | |
IfrsStatementLineItems [Line Items] | |
Property, plant and equipment | R$ 2730290 |
BUSINESS COMBINATION (Details
BUSINESS COMBINATION (Details 8) - BRL (R$) R$ in Thousands | 1 Months Ended | 12 Months Ended | ||
Sep. 06, 2022 | Sep. 30, 2021 | Dec. 31, 2022 | ||
IfrsStatementLineItems [Line Items] | ||||
Payment for acquisition | R$ 960733 | |||
Payment for equivalent | 5,013,436 | |||
C S N Cimentos Brasil S A [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Purchase price considered for the business combination | 5,013,436 | |||
Transfer amount | R$ 50000 | |||
Equivalent | R$ 261140 | |||
Payment for acquisition | R$ 960733 | 910,733 | ||
Payment for equivalent | R$ 5013436 | R$ 4752296 | ||
Assets Transferred [Member] | C S N Cimentos Brasil S A [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Determination of comment | In the transaction, a payment in the amount of US$960,733 was made | |||
Purchase price considered for the business combination | [1] | 5,013,436 | ||
[1]On the date of its completion, the transaction included (i) the transfer to the sellers of the amount of US$ 50,000 261,140 910,733 4,752,296 960,733 5,013,436 |
BUSINESS COMBINATION (Details 9
BUSINESS COMBINATION (Details 9) - C S N Cimentos Brasil S A [Member] R$ in Thousands | 12 Months Ended |
Dec. 31, 2022 BRL (R$) | |
IfrsStatementLineItems [Line Items] | |
Purchase price considered | R$ 5013436 |
Fair value of the assets and liabilities acquired | 4,622,604 |
Goodwill for future profitability expected | R$ 390832 |
BUSINESS COMBINATION (Details_2
BUSINESS COMBINATION (Details 10) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
IfrsStatementLineItems [Line Items] | |||
Property, plant and equipment | R$ 26370445 | R$ 21531134 | R$ 19716223 |
Carrying amount [member] | C S N Cimentos Brasil S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Cash and cash equivalents | 496,445 | ||
Trade receivables | 141,266 | ||
Inventories | 272,106 | ||
Recoverable taxes | 229,940 | ||
Deferred taxes | 982,547 | ||
Other assets | 147,565 | ||
Property, plant and equipment | 3,185,975 | ||
Intangíible assets | 7,429 | ||
Total assets acquired | 5,463,273 | ||
Trade payables | 510,522 | ||
Lease liabilities | 43,978 | ||
Taxes payable | 50,527 | ||
Salaries and social charges | 32,324 | ||
Other payables | 139,830 | ||
Taxes in installments | 148,249 | ||
Legal Contingencies | 491,114 | ||
Total liabilities assumed | 1,416,544 | ||
Net equity acquired | 4,046,729 | ||
Property, plant and equipment | 3,185,975 | ||
Mining rights | 2,456 | ||
Softwares | 4,973 | ||
Fair Value Adjustments [Member] | C S N Cimentos Brasil S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Property, plant and equipment | 402,289 | ||
Intangíible assets | 173,586 | ||
Total assets acquired | 575,875 | ||
Net equity acquired | 575,875 | ||
Property, plant and equipment | 402,289 | ||
Mining rights | 135,216 | ||
Trademarks | 38,370 | ||
Total Fair Value [Member] | C S N Cimentos Brasil S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Cash and cash equivalents | 496,445 | ||
Trade receivables | 141,266 | ||
Inventories | 272,106 | ||
Recoverable taxes | 229,940 | ||
Deferred taxes | 982,547 | ||
Other assets | 147,565 | ||
Property, plant and equipment | 3,588,264 | ||
Intangíible assets | 181,015 | ||
Total assets acquired | 6,039,148 | ||
Trade payables | 510,522 | ||
Lease liabilities | 43,978 | ||
Taxes payable | 50,527 | ||
Salaries and social charges | 32,324 | ||
Other payables | 139,830 | ||
Taxes in installments | 148,249 | ||
Legal Contingencies | 491,114 | ||
Total liabilities assumed | 1,416,544 | ||
Net equity acquired | 4,622,604 | ||
Property, plant and equipment | 3,588,264 | ||
Mining rights | 137,672 | ||
Trademarks | 38,370 | ||
Softwares | R$ 4973 | ||
Business Property Plant And Equipment 1 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Description of basis of valuation of assets available for benefits | The values of fixed assets were adjusted by the difference between the revalued value of fixed assets and their respective net book value, according to a technical evaluation carried out by an independent appraiser for the groups of assets represented by improvements constructions, vehicles, furniture and fixtures. The useful lives follow the terms disclosed in note 12. | ||
Business Property Plant And Equipment 1 [Member] | C S N Cimentos Brasil S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Description of basis of valuation of assets available for benefits | Valued using the "MARKET APPROACH" method, where the fair value of the asset is estimated by comparing it with similar or comparable assets that have been sold or listed for sale in the primary or secondary market. | ||
Business Mining Rights [Member] | C S N Cimentos Brasil S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Description of basis of valuation of assets available for benefits | Evaluated by the MPEEM method that measures the present value of future income to be generated during the remaining useful life of a given asset. Using the analysis of the company's projected results as a reference, the pre-tax cash flows directly attributable to the asset are calculated, as of the base date stipulated in the evaluation. | ||
Business Trademarks [Member] | C S N Cimentos Brasil S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Description of basis of valuation of assets available for benefits | The brands were evaluated using the Royalty Relief method, which consists in projecting expected royalty payments and measuring them at present value. | ||
Business Softwares [Member] | C S N Cimentos Brasil S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Description of basis of valuation of assets available for benefits | The Company's software has not been evaluated. | ||
Carrying Amount One [Member] | C S N Cimentos Brasil S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Property, plant and equipment | R$ 3193404 | ||
Fair Value Adjustments One [Member] | C S N Cimentos Brasil S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Property, plant and equipment | 575,875 | ||
Total Fair Value One [Member] | C S N Cimentos Brasil S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Property, plant and equipment | R$ 3769279 |
BUSINESS COMBINATION (Details_3
BUSINESS COMBINATION (Details 11) - Companhia Energetica Chapeco [Member] | 12 Months Ended | |
Dec. 31, 2022 shares | ||
IfrsStatementLineItems [Line Items] | ||
Purchase price considered for the business combination | 358,634 | |
Assets Transferred 1 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Determination of comment | Payment made upon acquisition | |
Purchase price considered for the business combination | 358,634 | [1] |
[1]On October 7, 2022, the transaction was completed with the payment of R$358,634 by CSN Mineração and CSN Energia. |
BUSINESS COMBINATION (Details_4
BUSINESS COMBINATION (Details 12) R$ in Thousands | 12 Months Ended |
Dec. 31, 2022 BRL (R$) | |
Carrying amount [member] | Companhia Energetica Chapeco [Member] | |
IfrsStatementLineItems [Line Items] | |
Cash and cash equivalents | R$ 41693 |
Trade receivables | 5,745 |
Other assets | 246 |
Recoverable taxes and contributions | 5,420 |
Deferred taxes | 9,521 |
Judicial deposits | 151 |
Property, plant and equipment | 106,695 |
Intangíible assets | 104,499 |
Total assets acquired | 273,970 |
Trade payables | 157 |
Labor obligations | 364 |
Taxes payable | 1,945 |
Concession payable | 12,281 |
Other accounts | 1,567 |
Advances from customer | 100,012 |
Concession payable | 77,646 |
Total liabilities assumed | 193,972 |
Total equity acquired | 79,998 |
Fair Value Adjustments [Member] | Companhia Energetica Chapeco [Member] | |
IfrsStatementLineItems [Line Items] | |
Property, plant and equipment | 195,026 |
Intangíible assets | 83,610 |
Total assets acquired | 278,636 |
Total equity acquired | 278,636 |
Total Fair Value [Member] | Companhia Energetica Chapeco [Member] | |
IfrsStatementLineItems [Line Items] | |
Cash and cash equivalents | 41,693 |
Trade receivables | 5,745 |
Other assets | 246 |
Recoverable taxes and contributions | 5,420 |
Deferred taxes | 9,521 |
Judicial deposits | 151 |
Property, plant and equipment | 301,721 |
Intangíible assets | 188,109 |
Total assets acquired | 552,606 |
Trade payables | 157 |
Labor obligations | 364 |
Taxes payable | 1,945 |
Concession payable | 12,281 |
Other accounts | 1,567 |
Advances from customer | 100,012 |
Concession payable | 77,646 |
Total liabilities assumed | 193,972 |
Total equity acquired | R$ 358634 |
Business Property Plant And Equipment 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Description of basis of valuation of assets available for benefits | The values of fixed assets were adjusted by the difference between the revalued value of fixed assets and their respective net book value, according to a technical evaluation carried out by an independent appraiser for the groups of assets represented by improvements constructions, vehicles, furniture and fixtures. The useful lives follow the terms disclosed in note 12. |
Business Property Plant And Equipment 1 [Member] | Companhia Energetica Chapeco [Member] | |
IfrsStatementLineItems [Line Items] | |
Description of basis of valuation of assets available for benefits | The values of fixed assets were adjusted by the difference between the revalued value of fixed assets and their respective net book value, according to a technical evaluation carried out by an independent appraiser for the groups of assets represented by buildings, vehicles, furniture and fixtures. The useful lives follow the terms disclosed in note 11 |
Carrying Amount 1 [Member] | Companhia Energetica Chapeco [Member] | |
IfrsStatementLineItems [Line Items] | |
Property, plant and equipment | R$ 106695 |
Intangible assets | 104,499 |
Fair Value Adjustments 1 [Member] | Companhia Energetica Chapeco [Member] | |
IfrsStatementLineItems [Line Items] | |
Property, plant and equipment | 195,026 |
Total Fair Value 1 [Member] | Companhia Energetica Chapeco [Member] | |
IfrsStatementLineItems [Line Items] | |
Property, plant and equipment | R$ 301721 |
Intangible Assets 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Description of basis of valuation of assets available for benefits | Evaluated by the MPEEM method that measures the present value of future income to be generated during the remaining useful life of a given asset. Using the analysis of the company's projected results as a reference, the pre-tax cash flows directly attributable to the asset are calculated, as of the base date stipulated in the evaluation. |
Intangible Assets 1 [Member] | Companhia Energetica Chapeco [Member] | |
IfrsStatementLineItems [Line Items] | |
Description of basis of valuation of assets available for benefits | Evaluated by the MPEEM method that measures the present value of future income to be generated during the remaining useful life of a given asset. Using the analysis of the company's projected results as a reference, the pre-tax cash flows directly attributable to the asset are calculated, as from the base date stipulated in the evaluation and Incremental Cash Flow, where the economic gain generated by the spread between the contract value and the spot value of energy was the basis of a free cash flow. |
Fair Value Adjustments 2 [Member] | Companhia Energetica Chapeco [Member] | |
IfrsStatementLineItems [Line Items] | |
Intangible assets | R$ 83610 |
Total Fair Value 2 [Member] | Companhia Energetica Chapeco [Member] | |
IfrsStatementLineItems [Line Items] | |
Intangible assets | 188,109 |
Carrying Amount One [Member] | |
IfrsStatementLineItems [Line Items] | |
Total | 201,424 |
Carrying Amount One [Member] | Companhia Energetica Chapeco [Member] | |
IfrsStatementLineItems [Line Items] | |
Total | 211,194 |
Fair Value Adjustments One [Member] | |
IfrsStatementLineItems [Line Items] | |
Total | 259,602 |
Fair Value Adjustments One [Member] | Companhia Energetica Chapeco [Member] | |
IfrsStatementLineItems [Line Items] | |
Total | 278,636 |
Total Fair Value One [Member] | |
IfrsStatementLineItems [Line Items] | |
Total | 461,026 |
Total Fair Value One [Member] | Companhia Energetica Chapeco [Member] | |
IfrsStatementLineItems [Line Items] | |
Total | R$ 489830 |
BUSINESS COMBINATION (Details_5
BUSINESS COMBINATION (Details 13) | 12 Months Ended | |
Dec. 31, 2022 shares | ||
Elizabeth Cimentos [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Purchase price considered for the business combination | 599,891 | |
Elizabeth Mineracao [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Purchase price considered for the business combination | 118,831 | |
Assets Transferred [Member] | Elizabeth Cimentos And Elizabeth Mineracao [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Determination of comment | A payment in the amount of R$201 milion is being carried out in the transaction. | |
Assets Transferred [Member] | Elizabeth Cimentos [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Purchase price considered for the business combination | 77,768 | [1] |
Assets Transferred [Member] | Elizabeth Mineracao [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Purchase price considered for the business combination | 123,947 | [1] |
Assets Transferred 1 [Member] | Elizabeth Cimentos And Elizabeth Mineracao [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Determination of comment | Refers to financial adjustment of working capital and debt | |
Assets Transferred 1 [Member] | Elizabeth Cimentos [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Purchase price considered for the business combination | (3,914) | [1] |
Assets Transferred 1 [Member] | Elizabeth Mineracao [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Purchase price considered for the business combination | (5,116) | [1] |
Equity Interests Issued [Member] | Elizabeth Cimentos And Elizabeth Mineracao [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Determination of comment | Shares issued by Elizabeth Cimentos and acquired by CSN Cimentos. | |
Equity Interests Issued [Member] | Elizabeth Cimentos [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Purchase price considered for the business combination | 526,037 | [2] |
[1]The transaction included payments by CSN Cimentos of R$77,768 and R$123,947 on August 31, 2021, and an adjustment in the amount of R$3,914 and R$5,116, received in December 2021 related to working capital adjustment provided for in the sale agreement.[2]In August 2021, Elizabeth Cimentos performed a primary issuance of 2,382,758,512 new common shares, nominative and with no par value, which were subscribed and paid in by CSN Cimentos. |
BUSINESS COMBINATION (Detail_2
BUSINESS COMBINATION (Details 14) R$ in Thousands | 12 Months Ended |
Dec. 31, 2022 BRL (R$) | |
Elizabeth Cimentos [Member] | |
IfrsStatementLineItems [Line Items] | |
Purchase price considered | R$ 599891 |
Fair value of the assets and liabilities acquired | 516,625 |
Goodwill for future profitability expected | 83,266 |
Elizabeth Mineracao [Member] | |
IfrsStatementLineItems [Line Items] | |
Purchase price considered | 118,831 |
Fair value of the assets and liabilities acquired | R$ 118831 |
BUSINESS COMBINATION (Details_6
BUSINESS COMBINATION (Details 15) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
IfrsStatementLineItems [Line Items] | |||
Property, plant and equipment | R$ 26370445 | R$ 21531134 | R$ 19716223 |
Carrying amount [member] | Elizabeth Cimentos [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Cash and cash equivalents | 52,571 | ||
Trade receivables | 27,571 | ||
Receivables from related parties | 96,374 | ||
Inventories | 44,157 | ||
Recoverable taxes | 18,616 | ||
Short-term investments | 14,689 | ||
Other assets | 17,733 | ||
Property, plant and equipment | 373,574 | ||
Intangíible assets | 798 | ||
Total assets acquired | 646,083 | ||
Borrowings and financing | 198,778 | ||
Trade payables | 22,735 | ||
Taxes payable | 19,202 | ||
Other payables | 44,052 | ||
Total liabilities assumed | 284,767 | ||
Net equity acquired | 361,316 | ||
Indirect investiment | (40,663) | ||
Net equity acquired | 320,653 | ||
Carrying amount [member] | Elizabeth Mineracao [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Cash and cash equivalents | 2,197 | ||
Trade receivables | 1,027 | ||
Receivables from related parties | 9,035 | ||
Inventories | 1,017 | ||
Recoverable taxes | 931 | ||
Other assets | 673 | ||
Investment | 40,653 | ||
Property, plant and equipment | 15,092 | ||
Intangíible assets | 500 | ||
Total assets acquired | 71,125 | ||
Borrowings and financing | 182,402 | ||
Trade payables | 446 | ||
Taxes payable | 37,158 | ||
Debits with related parties | 96,350 | ||
Other payables | 7,257 | ||
Total liabilities assumed | 323,613 | ||
Net equity acquired | (252,488) | ||
Net equity acquired | (252,488) | ||
Carrying amount [member] | Elizabeth Cimentos And Elizabeth Mineracao [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Property, plant and equipment | 388,666 | ||
Mining rights | 500 | ||
Licenses | 798 | ||
Total | 389,964 | ||
Fair Value Adjustments [Member] | Elizabeth Cimentos [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Property, plant and equipment | 161,367 | ||
Intangíible assets | 59,456 | ||
Total assets acquired | 220,823 | ||
Net equity acquired | 220,823 | ||
Indirect investiment | (24,851) | ||
Net equity acquired | 195,972 | ||
Fair Value Adjustments [Member] | Elizabeth Mineracao [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Investment | 24,845 | ||
Property, plant and equipment | 77,089 | ||
Intangíible assets | 269,385 | ||
Total assets acquired | 371,319 | ||
Net equity acquired | 371,319 | ||
Net equity acquired | 371,319 | ||
Fair Value Adjustments [Member] | Elizabeth Cimentos And Elizabeth Mineracao [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Property, plant and equipment | 238,456 | ||
Mining rights | 269,385 | ||
Licenses | 59,456 | ||
Total | 567,297 | ||
Total Fair Value [Member] | Elizabeth Cimentos [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Cash and cash equivalents | 52,571 | ||
Trade receivables | 27,571 | ||
Receivables from related parties | 96,374 | ||
Inventories | 44,157 | ||
Recoverable taxes | 18,616 | ||
Short-term investments | 14,689 | ||
Other assets | 17,733 | ||
Property, plant and equipment | 534,941 | ||
Intangíible assets | 60,254 | ||
Total assets acquired | 866,906 | ||
Borrowings and financing | 198,778 | ||
Trade payables | 22,735 | ||
Taxes payable | 19,202 | ||
Other payables | 44,052 | ||
Total liabilities assumed | 284,767 | ||
Net equity acquired | 582,139 | ||
Indirect investiment | (65,514) | ||
Net equity acquired | 516,625 | ||
Total Fair Value [Member] | Elizabeth Mineracao [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Cash and cash equivalents | 2,197 | ||
Trade receivables | 1,027 | ||
Receivables from related parties | 9,035 | ||
Inventories | 1,017 | ||
Recoverable taxes | 931 | ||
Other assets | 673 | ||
Investment | 65,498 | ||
Property, plant and equipment | 92,181 | ||
Intangíible assets | 269,885 | ||
Total assets acquired | 442,444 | ||
Borrowings and financing | 182,402 | ||
Trade payables | 446 | ||
Taxes payable | 37,158 | ||
Debits with related parties | 96,350 | ||
Other payables | 7,257 | ||
Total liabilities assumed | 323,613 | ||
Net equity acquired | 118,831 | ||
Net equity acquired | 118,831 | ||
Total Fair Value [Member] | Elizabeth Cimentos And Elizabeth Mineracao [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Property, plant and equipment | 627,122 | ||
Mining rights | 269,885 | ||
Licenses | 60,254 | ||
Total | R$ 957261 | ||
Business Property Plant And Equipment 1 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Description of basis of valuation of assets available for benefits | The values of fixed assets were adjusted by the difference between the revalued value of fixed assets and their respective net book value, according to a technical evaluation carried out by an independent appraiser for the groups of assets represented by improvements constructions, vehicles, furniture and fixtures. The useful lives follow the terms disclosed in note 12. | ||
Business Property Plant And Equipment 1 [Member] | Elizabeth Cimentos And Elizabeth Mineracao [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Description of basis of valuation of assets available for benefits | Valued using the "MARKET APPROACH" method, where the fair value of the asset is estimated by comparing it with similar or comparable assets that have been sold or listed for sale in the primary or secondary market. | ||
Business Mining Rights [Member] | Elizabeth Cimentos And Elizabeth Mineracao [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Description of basis of valuation of assets available for benefits | Evaluated by the MPEEM method that measures the present value of future income to be generated during the remaining useful life of a given asset. Using the analysis of the company's projected results as a reference, the pre-tax cash flows directly attributable to the asset are calculated, as of the base date stipulated in the evaluation. | ||
Business Licenses [Member] | Elizabeth Cimentos And Elizabeth Mineracao [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Description of basis of valuation of assets available for benefits | Valued using the WITH / WITHOUT method, which estimates the intangible value by the difference between discounted cash flow models with and without the asset. |
CASH AND CASH EQUIVALENTS (Deta
CASH AND CASH EQUIVALENTS (Details) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
IfrsStatementLineItems [Line Items] | ||||
Cash and banks | R$ 6395458 | R$ 10076037 | ||
Total short-term investments | 5,595,898 | 6,570,443 | ||
Cash and cash equivalents | 11,991,356 | 16,646,480 | R$ 9944586 | R$ 1088955 |
B R [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Cash and banks | 85,120 | 68,638 | ||
Total short-term investments | 5,110,749 | 6,493,832 | ||
Abroad [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Cash and banks | 6,310,338 | 10,007,399 | ||
Total short-term investments | R$ 485149 | R$ 76611 |
FINANCIAL INVESTMENTS (Details)
FINANCIAL INVESTMENTS (Details) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | ||
IfrsStatementLineItems [Line Items] | |||
Current | R$ 1456485 | R$ 2644732 | |
NonCurrent | 156,185 | 147,671 | |
Investment [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Current | [1] | 271,590 | 261,673 |
NonCurrent | [1] | 15,675 | 15,148 |
Usiminas Shares [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Current | [2] | 1,184,895 | 2,383,059 |
Bond [Member] | |||
IfrsStatementLineItems [Line Items] | |||
NonCurrent | [3] | R$ 140510 | R$ 132523 |
[1]Comprised of restricted financial investments and linked to a Bank Deposit Certificate (CDB) to guarantee a letter of guarantee from financial institutions and financial investments in Public Securities (LFT - Letras Financeiras do Tesouro) managed by their exclusive funds.[2]Part of the shares of Usiminas Siderúrgica de Minas Gerais S.A. held by the Company guarantees a portion of the Company’s debt.[3]Bonds with Fibra bank due in February 2028 (see note 22.b). |
TRADE RECEIVABLES (Details)
TRADE RECEIVABLES (Details) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
IfrsStatementLineItems [Line Items] | |||
Allowance for doubtful debts | R$ 232830 | R$ 236927 | R$ 228348 |
Trade receivable, after allowance for doubtful debts | 3,124,030 | 2,453,442 | |
Trade receivables | 3,233,164 | 2,597,838 | |
Third Parties [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Trade receivable, before allowance for doubtful debts | 3,356,860 | 2,690,369 | |
Third Parties [Member] | Country of domicile [member] | |||
IfrsStatementLineItems [Line Items] | |||
Trade receivable, before allowance for doubtful debts | 1,636,804 | 1,218,179 | |
Third Parties [Member] | Foreign countries [member] | |||
IfrsStatementLineItems [Line Items] | |||
Trade receivable, before allowance for doubtful debts | 1,720,056 | 1,472,190 | |
Related Partie [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Trade receivables | R$ 109134 | R$ 144396 |
TRADE RECEIVABLES (Details 1)
TRADE RECEIVABLES (Details 1) - Third Parties [Member] - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
IfrsStatementLineItems [Line Items] | ||
Gross trade receivable | R$ 3356860 | R$ 2690369 |
Current [member] | ||
IfrsStatementLineItems [Line Items] | ||
Gross trade receivable | 2,934,057 | 2,255,200 |
Later than one month and not later than two months [member] | ||
IfrsStatementLineItems [Line Items] | ||
Gross trade receivable | 163,959 | 164,019 |
Later than two months and not later than three months [member] | ||
IfrsStatementLineItems [Line Items] | ||
Gross trade receivable | 54,452 | 67,822 |
Later than three months [member] | ||
IfrsStatementLineItems [Line Items] | ||
Gross trade receivable | R$ 204392 | R$ 203328 |
TRADE RECEIVABLES (Details 2)
TRADE RECEIVABLES (Details 2) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Trade Receivables | ||
Opening balance | R$ 236927 | R$ 228348 |
(Loss)/Reversal estimated | (87) | 1,755 |
Recovery and write-offs of receivables | 13,197 | 6,287 |
Consolidation in the acquisition of companies | (9,013) | (16,621) |
Closing balance | R$ 232830 | R$ 236927 |
INVENTORIES (Details)
INVENTORIES (Details) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | |||
Inventory gross | R$ 12334894 | R$ 11600028 | |
Current | 11,289,229 | 10,943,835 | |
Non-current | [1] | 1,045,665 | 656,193 |
Inventoy, net | 12,334,894 | 11,600,028 | |
Finished Goods [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Inventory gross | 4,421,166 | 4,457,842 | |
Work In Progress [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Inventory gross | 3,501,145 | 2,710,149 | |
Raw Materials [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Inventory gross | 3,297,213 | 3,638,952 | |
Storeoom Supplies [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Inventory gross | 1,174,244 | 770,296 | |
Advances To Suppliers [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Inventory gross | 37,619 | 121,519 | |
Provision For Losses [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Inventory gross | R$ 96493 | R$ 98730 | |
[1]Long-term iron ore inventories that will be used after the construction of the processing plant, which will produce pellet feed. |
INVENTORIES (Details 1)
INVENTORIES (Details 1) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Inventories Abstract | ||
Opening balance | R$ 98730 | R$ 109038 |
Reversal of inventories with low turnover and obsolescence | 3,621 | 10,308 |
Consolidation in the acquisition of companies | (1,384) | |
Closing balance | R$ 96493 | R$ 98730 |
RECOVERABLE TAXES (Details)
RECOVERABLE TAXES (Details) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Sep. 24, 2021 | |
IfrsStatementLineItems [Line Items] | ||||
Total recoverable taxes | R$ 3182758 | R$ 2620375 | ||
Current | 1,865,626 | 1,655,349 | ||
Non-current | 1,317,132 | 965,026 | ||
Tax credit amount | R$ 229000 | |||
State Value Added Tax [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Total recoverable taxes | 1,130,843 | 1,162,900 | ||
Brazilian Federal Contributions [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Total recoverable taxes | [1] | 1,862,828 | 1,352,100 | |
Other Taxes [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Total recoverable taxes | R$ 189087 | R$ 105375 | ||
[1]In a judgment finalized on September 24, 2021, the Federal Supreme Court, with general repercussion, decided for the unconstitutionality of the levy of IRPJ and CSLL on amounts of interest on arrears at the SELIC rate received because of the repetition of undue tax payment. Although the decision is still pending publication, and the Company's specific lawsuit is still pending judgment, based on its best estimate to date CSN reassessed the judgment on this lawsuit, as required by IFRIC 23 and recorded a credit in the amount of R$ 229,000 |
OTHER CURRENT AND NON-CURRENT_3
OTHER CURRENT AND NON-CURRENT ASSETS (Details) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | |||
Other current assets | R$ 776500 | R$ 484120 | |
Other non-current assets | 4,749,718 | 4,365,755 | |
Equity interest | 5,060,002 | 3,849,647 | |
Uncontroversial amount | 422,254 | ||
Centrais Eletricas Brasileiras S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Cash | 370,000 | ||
Equity interest | R$ 367000 | ||
Capital interest | 32.74% | ||
Judicial Deposits [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Other non-current assets | R$ 533664 | 339,805 | |
Prepaid Expenses [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Other non-current assets | 47,109 | 74,503 | |
Other current assets | 311,087 | 225,036 | |
Prepaid Expenses With Sea Freight [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Other current assets | 36,783 | ||
Actuarial Asset Related Party [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Other non-current assets | 35,477 | 59,111 | |
Securities Held For Trading [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Other current assets | 9,596 | 12,028 | |
Loans With Related Parties [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Other current assets | 5,383 | 4,511 | |
Other non-current assets | 1,384,773 | 1,143,228 | |
Other Receivables From Related Parties [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Other non-current assets | 1,484,759 | 927,077 | |
Other current assets | 1,858 | 1,828 | |
Monetary Adjustment Related To The Eletrobrass Compulsory Loan [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Other non-current assets | [1] | 58,030 | 859,607 |
Dividends Receivable [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Other current assets | 77,377 | 76,878 | |
Debit Of Employees [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Other current assets | 59,578 | 43,542 | |
Receivables By Indemnity [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Other non-current assets | [2] | 974,863 | 534,896 |
Other [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Other non-current assets | 231,043 | 427,528 | |
Other current assets | R$ 274838 | R$ 120297 | |
[1]In December 2021, the Company had recorded certain and due amount with Centrais Elétricas Brasileiras S.A. - Eletrobras, relating mainly to interest and monetary adjustment of the Compulsory Loan. In December 2022, the Company received R$ 370,000 367,000 32.74 rd 422,254 |
BASIS OF CONSOLIDATION AND IN_3
BASIS OF CONSOLIDATION AND INVESTMENTS (Details) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | ||
C S N Islands V I I Corp [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 100% | 100% | |
Description of nature of entity's operations and principal activities | Financial transactions | ||
C S N Inova Ventures [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 100% | 100% | |
Description of nature of entity's operations and principal activities | Equity interests and Financial transactions | ||
C S N Islands X I I Corp [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 100% | 100% | |
Description of nature of entity's operations and principal activities | Financial transactions | ||
C S N Steel S L U [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 100% | 100% | |
Description of nature of entity's operations and principal activities | Equity interests and Financial transactions | ||
Td B B S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | [1] | 100% | 100% |
Description of nature of entity's operations and principal activities | [1] | Equity interests | |
Sepetiba Tecon S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 99.99% | 99.99% | |
Description of nature of entity's operations and principal activities | Port services | ||
Minerios Nacional S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 99.99% | 99.99% | |
Description of nature of entity's operations and principal activities | Mining and Equity interests | ||
Companhia Florestaldo Brasil [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 99.99% | 99.99% | |
Description of nature of entity's operations and principal activities | Reforestation | ||
Estanho De Rondonia S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 99.99% | 99.99% | |
Description of nature of entity's operations and principal activities | Tin Mining | ||
Companhia Metalurgica Prada [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 99.90% | 99.99% | |
Description of nature of entity's operations and principal activities | Manufacture of containers and distribution of steel products | ||
C S N Mineracao S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 79.75% | 78.24% | |
Description of nature of entity's operations and principal activities | Mining | ||
C S N Energia S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 99.99% | 99.99% | |
Description of nature of entity's operations and principal activities | Sale of electric power | ||
F T L Ferrovia Transnordestina Logistica S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 92.71% | 92.71% | |
Description of nature of entity's operations and principal activities | Railroad logistics | ||
Nordeste Logistica S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 99.99% | 99.99% | |
Description of nature of entity's operations and principal activities | Port services | ||
C S N Inova Ltd [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 100% | 100% | |
Description of nature of entity's operations and principal activities | Advisory and implementation of new development projec | ||
C B S I Companhia Brasileira De Servicos De Infraestrutura [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 99.99% | 99.99% | |
Description of nature of entity's operations and principal activities | Equity interests and product sales and iron ore | ||
C S N Cimentos S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 99.99% | 99.99% | |
Description of nature of entity's operations and principal activities | Manufacturing and sale of cement | ||
Berkeley Participacoes E Empreendimentos S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 100% | 100% | |
Description of nature of entity's operations and principal activities | Electric power generation and equity interests | ||
C S N Inova Solucoes S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 99.99% | 99.99% | |
Description of nature of entity's operations and principal activities | Equity interests | ||
C S N Participacoes I [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 99.99% | 99.99% | |
Description of nature of entity's operations and principal activities | Equity interests | ||
Circula Mais Servicos De Intermediacao Comercial S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 0.01% | 99.99% | |
Description of nature of entity's operations and principal activities | Commercial intermediation for the purchase and sale of assets and materials in general | ||
C S N Participacoes I I I [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 99.99% | 99.99% | |
Description of nature of entity's operations and principal activities | Equity interests | ||
C S N Participacoes I V [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 99.99% | 99.99% | |
Description of nature of entity's operations and principal activities | Equity interests | ||
C S N Participacoes V [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 99.99% | 99.99% | |
Description of nature of entity's operations and principal activities | Equity interests | ||
Lusosider Projectos Siderurgicos S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 100% | 100% | |
Description of nature of entity's operations and principal activities | Equity interests and product sales | ||
Lusosider Acos Planos S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 99.99% | 99.99% | |
Description of nature of entity's operations and principal activities | Steel and Equity interests | ||
C S N Resources S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 100% | 100% | |
Description of nature of entity's operations and principal activities | Financial transactions and Equity interests | ||
Companhia Brasileira De Latas [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 99.99% | 99.99% | |
Description of nature of entity's operations and principal activities | Sale of cans and containers in general and Equity interests | ||
Companhia De Embalagens Metalicas M M S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 99.99% | 99.99% | |
Description of nature of entity's operations and principal activities | Production and sale of cans and related activities | ||
Companhia De Embalagens Metalicas M T M [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 99.99% | 99.99% | |
Description of nature of entity's operations and principal activities | Production and sale of cans and related activities | ||
C S N Steel Holdings 1 S L U [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | [2] | 100% | |
Description of nature of entity's operations and principal activities | [2] | Financial transactions, product sales and Equity interests | |
C S N Productos Siderurgicos S L [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 100% | 100% | |
Description of nature of entity's operations and principal activities | Financial transactions, product sales and Equity interests | ||
Stalhwerk Thuringen Gmb H [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 100% | 100% | |
Description of nature of entity's operations and principal activities | Production and sale of long steel and related activities | ||
C S N Steel Sections Polska Sp Zoo [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 100% | 100% | |
Description of nature of entity's operations and principal activities | Financial transactions, product sales and Equity interests | ||
C S N Mining Holding S L U [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 79.75% | 78.24% | |
Description of nature of entity's operations and principal activities | Financial transactions, product sales and Equity interests | ||
C S N Mining Gmb H [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 79.75% | 78.24% | |
Description of nature of entity's operations and principal activities | Financial transactions, product sales and Equity interests | ||
C S N Mining Asia Limited [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 79.75% | 78.24% | |
Description of nature of entity's operations and principal activities | Commercial representation | ||
Lusosider Iberica S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 100% | 100% | |
Description of nature of entity's operations and principal activities | Steel, commercial and industrial activities and equity interests | ||
C S N Mining Portugal Unipessoal Lda [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 79.75% | 78.24% | |
Description of nature of entity's operations and principal activities | Commercial and representation of products | ||
Companhia Siderurgica Nacional L L C [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 100% | 100% | |
Description of nature of entity's operations and principal activities | Import and distribution/resale of products | ||
Elizabeth Cimentos S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 99.98% | 99.98% | |
Description of nature of entity's operations and principal activities | Manufacturing and sale of cement | ||
Elizabeth Mineracao Ltda [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | [3] | 99.96% | |
Description of nature of entity's operations and principal activities | [3] | Mining | |
Santa Ana Energetica S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 100% | ||
Description of nature of entity's operations and principal activities | Electric power generation | ||
Topazio Energetica S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 100% | ||
Description of nature of entity's operations and principal activities | Electric power generation | ||
Brasil Central Energia Ltda [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 100% | ||
Description of nature of entity's operations and principal activities | Electric power generation | ||
Circula Mais Servico De Intermediacao Comercial S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 99.99% | ||
Description of nature of entity's operations and principal activities | Commercial intermediation for the purchase and sale of assets and materials in general | ||
C S N Cimentos Brasil S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 99.99% | ||
Description of nature of entity's operations and principal activities | Manufacturing and sale of cement | ||
Metalgrafica Iguacu S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 100% | ||
Description of nature of entity's operations and principal activities | Metal packaging manufacturing | ||
Companhia Energetica Chapeco [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 79.75% | ||
Description of nature of entity's operations and principal activities | Electric power generation | ||
Companhia Estadual De Geracaode Energia Eletrica C E E E G [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 98.96% | ||
Description of nature of entity's operations and principal activities | Electric power generation | ||
Ventosde Vera Cruz S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 98.95% | ||
Description of nature of entity's operations and principal activities | Electric power generation | ||
Ventosde Curupira S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 98.95% | ||
Description of nature of entity's operations and principal activities | Electric power generation | ||
Ventosde Povo Novo S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 98.95% | ||
Description of nature of entity's operations and principal activities | Electric power generation | ||
Ita Energetica S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 48.75% | 48.75% | |
Description of nature of entity's operations and principal activities | Electric power generation | ||
Consorcio Da Usina Hidreletrica De Igarapava [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 17.92% | 17.92% | |
Description of nature of entity's operations and principal activities | Electric power consortium | ||
M R S Logistica S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 18.64% | 18.64% | |
Description of nature of entity's operations and principal activities | Railroad transportation | ||
Aceros Del Orinoco S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | [1] | 31.82% | 31.82% |
Description of nature of entity's operations and principal activities | [1] | Dormant company | |
Transnordestina Logistica S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 47.26% | 47.26% | |
Description of nature of entity's operations and principal activities | Railroad logistics | ||
Equimac S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 50% | 50% | |
Description of nature of entity's operations and principal activities | Rental of commercial and industrial machinery and equipment | ||
M R S Logistica S A 1 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 14.86% | 14.58% | |
Description of nature of entity's operations and principal activities | Railroad transportation | ||
Arvedi Metalfer Do Brasil S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 20% | 20% | |
Description of nature of entity's operations and principal activities | Metallurgy and Equity interests | ||
Ventosda Lagoa Energia S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 10% | ||
Description of nature of entity's operations and principal activities | Electric power generation | ||
Jaguari Energetica S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 10.50% | ||
Description of nature of entity's operations and principal activities | Electric power generation | ||
Chapecoense Geracao S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 9% | ||
Description of nature of entity's operations and principal activities | Electric power generation | ||
Parques Eolicos Palmares S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 10% | ||
Description of nature of entity's operations and principal activities | Electric power generation | ||
Ventosdo Litoral Energia S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 10% | ||
Description of nature of entity's operations and principal activities | Electric power generation | ||
Ventosdos Indios Energia S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 10% | ||
Description of nature of entity's operations and principal activities | Electric power generation | ||
Companhia Energetica Riodas Antas Ceran [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 10% | ||
Description of nature of entity's operations and principal activities | Electric power generation | ||
Ventosdo Sul S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 10% | ||
Description of nature of entity's operations and principal activities | Electric power generation | ||
Foz Chapeco Energia S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 10% | ||
Description of nature of entity's operations and principal activities | Electric power generation | ||
Diplic I I Private Credit Balanced Mutual Fund [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 100% | 100% | |
Description of nature of entity's operations and principal activities | Investment fund | ||
Caixa Vertice Private Credit Balanced Mutual Fund [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 100% | 100% | |
Description of nature of entity's operations and principal activities | Investment fund | ||
V R 1 Private Credit Balanced Mutual Fund [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Proportion of ownership interest in subsidiary | 100% | 100% | |
Description of nature of entity's operations and principal activities | Investment fund | ||
[1]Dormant companies.[2]- CSN Steel Holdings 1, S.L.U. was incorporated by CSN Productos Siderúrgicos S.L. on August 02, 2022[3]- Elizabeth Mineração was incorporated by CSN Cimentos S/A on April 30, 2022. |
BASIS OF CONSOLIDATION AND IN_4
BASIS OF CONSOLIDATION AND INVESTMENTS (Details 1) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | ||
IfrsStatementLineItems [Line Items] | |||
Investments, opening balance | R$ 3632001 | ||
Dividends | (77,403) | ||
Equity Income | 267,498 | ||
Comprehensive income | (6) | ||
Others | 963,452 | ||
Investments, final balance | 4,890,621 | ||
Capital increase | 105,079 | ||
Equity interests | 5,060,002 | R$ 3849647 | |
Investment Property | 159,080 | 162,181 | |
Total investments in the asset | 5,219,082 | R$ 4011828 | |
Impairment of Fair Value | 387,989 | ||
Fair value acquisition | 359,024 | ||
M R S Logistica [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Investments, opening balance | 1,806,542 | ||
Dividends | (77,403) | ||
Equity Income | 325,800 | ||
Comprehensive income | (146) | ||
Others | 105 | ||
Investments, final balance | 2,054,898 | ||
Fair Value M R S [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Investments, opening balance | 480,622 | ||
Investments, final balance | 480,622 | ||
Fair Value M R S Amortization [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Investments, opening balance | (70,481) | ||
Equity Income | (11,744) | ||
Investments, final balance | (82,225) | ||
Transnordestina Logistica S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Investments, opening balance | 1,114,232 | ||
Equity Income | (29,307) | ||
Others | (411) | ||
Investments, final balance | 1,184,514 | ||
Capital increase | 100,000 | ||
Fair Value Transnordestina [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Investments, opening balance | [1] | 271,117 | |
Others | [1] | 387,989 | |
Investments, final balance | [1] | 659,106 | |
Arvedi Metalferdo Brasil [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Investments, opening balance | 21,541 | ||
Equity Income | 4,702 | ||
Others | (461) | ||
Investments, final balance | 25,782 | ||
Equimac S A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Investments, opening balance | 8,428 | ||
Equity Income | 3,936 | ||
Comprehensive income | 140 | ||
Others | 899 | ||
Investments, final balance | 18,482 | ||
Capital increase | 5,079 | ||
Indirect Interest In Affiliates C E E E G [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Investments, opening balance | |||
Others | 216,307 | ||
Investments, final balance | 216,307 | ||
Fair Value Indirect Participation C E E E G [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Investments, opening balance | [2] | ||
Others | [2] | 359,024 | |
Investments, final balance | [2] | 359,024 | |
Fair Value Amortization Indirect Participation C E E E G [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Investments, opening balance | |||
Equity Income | (25,889) | ||
Investments, final balance | (25,889) | ||
Equity Interests Evaluated By The Cost Method [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Investments, opening balance | [3] | 27,041 | |
Investments, final balance | [3] | 41,093 | |
Capital increase | [3] | 14,052 | |
Investments At Fair Value Through Profit Or Loss [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Investments, opening balance | 190,320 | ||
Others | (95,620) | ||
Investments, final balance | 94,700 | ||
Others [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Investments, opening balance | 285 | ||
Others | 33,303 | ||
Investments, final balance | 33,588 | ||
Other Participations [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Investments, opening balance | 217,646 | ||
Others | (62,317) | ||
Investments, final balance | 169,381 | ||
Capital increase | 14,052 | ||
Total Shareholdings [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Investments, opening balance | 3,849,647 | ||
Dividends | (77,403) | ||
Equity Income | 267,498 | ||
Comprehensive income | (6) | ||
Others | 901,135 | ||
Investments, final balance | 5,060,002 | ||
Capital increase | R$ 119131 | ||
[1]In 2022, the Company performed an impairment test of the joint venture Transnordestina Logistica S.A. and reversed the impairment of Fair Value of R$ 387,989 359,024 |
BASIS OF CONSOLIDATION AND IN_5
BASIS OF CONSOLIDATION AND INVESTMENTS (Details 2) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | ||
Equity in results of affiliated companies | R$ 267498 | R$ 205662 |
Eliminations to cost of sale | (80,006) | (62,982) |
Eliminations to taxes | 27,202 | 21,414 |
Equity in results | 237,917 | 182,504 |
Amortizated At Fair Value Investment In M R S [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Equity in results of affiliated companies | (37,633) | (11,747) |
M R S Logistica S A [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Equity in results of affiliated companies | 325,800 | 260,622 |
Transnordestina Logistica S A [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Equity in results of affiliated companies | (29,307) | (45,870) |
Arvedi Metalfer Do Brasil S A [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Equity in results of affiliated companies | 4,702 | 3,265 |
Equimac S A [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Equity in results of affiliated companies | 3,936 | (608) |
Other Investment [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Equity in result of affiliated companies other | R$ 23223 | R$ 18410 |
BASIS OF CONSOLIDATION AND IN_6
BASIS OF CONSOLIDATION AND INVESTMENTS (Details 3) R$ in Thousands | 12 Months Ended |
Dec. 31, 2022 BRL (R$) | |
Basis Of Consolidation And Investments | |
Gain on participation in the capital increase | R$ 1060530 |
Loss due to dilution of participation with issue of new shares | (231,044) |
Equity adjustment by dilution of share percentage | (7,393) |
Net gain from the transaction | R$ 822093 |
BASIS OF CONSOLIDATION AND IN_7
BASIS OF CONSOLIDATION AND INVESTMENTS (Details 4) - BRL (R$) R$ / shares in Units, R$ in Thousands | 1 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Feb. 17, 2021 | Dec. 31, 2022 | |
Basis Of Consolidation And Investments | |||
Equity in the transaction | 9,947,525 | ||
Number of share before initial public offering | 5,430,057,060 | ||
Cost per share | R$ 1.83 | ||
Number of shares sold by CSN | 377,804,907 | 372,749,743 | 377,804,907 |
Price per share | R$ 8.50 | ||
Net cash generated in the transaction | R$ 3211342 | ||
Transaction cost | (46,730) | ||
Net cahs reveivable | 3,164,612 | ||
Cost of shares | (692,115) | ||
Net gain from the transaction | R$ 2472497 |
BASIS OF CONSOLIDATION AND IN_8
BASIS OF CONSOLIDATION AND INVESTMENTS (Details 5) R$ / shares in Units, R$ in Thousands | 12 Months Ended |
Dec. 31, 2022 BRL (R$) R$ / shares shares | |
IfrsStatementLineItems [Line Items] | |
Number bought back shares | 105,407,300 |
Cancelation of shares | 105,907,300 |
First Program [Member] | |
IfrsStatementLineItems [Line Items] | |
Boards authorization | Mar. 24, 2021 |
Authorized quantity | 58,415,015 |
Description of program period | from 3/25/2021 to 9/24/2021 |
Repurchase average buyback price | R$ / shares | R$ 6.1451 |
Minimum buyback price | R$ / shares | 5.5825 |
Maximum buyback price | R$ / shares | R$ 6.7176 |
Number bought back shares | 52,940,500 |
Treasury balance | R$ | R$ 52940500 |
Second Program [Member] | |
IfrsStatementLineItems [Line Items] | |
Boards authorization | Nov. 03, 2021 |
Authorized quantity | 53,000,000 |
Description of program period | from 11/04/2021 to 9/24/2022 |
Repurchase average buyback price | R$ / shares | R$ 6.1644 |
Minimum buyback price | R$ / shares | 5.0392 |
Maximum buyback price | R$ / shares | R$ 6.1208 |
Number bought back shares | 52,466,800 |
Treasury balance | R$ | R$ 105907300 |
Second Programs [Member] | |
IfrsStatementLineItems [Line Items] | |
Boards authorization | May 18, 2022 |
Cancelation of shares | 105,907,300 |
Third Program [Member] | |
IfrsStatementLineItems [Line Items] | |
Boards authorization | May 18, 2022 |
Authorized quantity | 106,000,000 |
Description of program period | from 05/19/2022 to 5/18/2023 |
BASIS OF CONSOLIDATION AND IN_9
BASIS OF CONSOLIDATION AND INVESTMENTS (Details 6) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Assets | |||
Trade receivables | R$ 3233164 | R$ 2597838 | |
Inventories | 11,289,229 | 10,943,835 | |
Other assets | 776,500 | 484,120 | |
Intangíible assets | 10,788,054 | 7,657,050 | R$ 7316794 |
Liabilities | |||
Other payables current | (1,878,203) | (1,117,034) | |
Lease liabilities | (177,010) | (119,047) | |
Net assets | R$ 85354359 | 79,379,103 | |
Previously stated [member] | |||
Assets | |||
Trade receivables | 54,684 | 37,171 | |
Inventories | 164,460 | 134,309 | |
Other assets | 30,228 | 29,186 | |
Property, plant and equipment | 3,129,161 | 3,151,349 | |
Intangíible assets | 8,086 | 8,086 | |
Liabilities | |||
Trade payables | (278,538) | (253,186) | |
Other payables current | (34,301) | (42,074) | |
Lease liabilities | (24,430) | (42,257) | |
Other provisions | (64,125) | (66,490) | |
Net assets | R$ 2985225 | R$ 2956094 |
BASIS OF CONSOLIDATION AND I_10
BASIS OF CONSOLIDATION AND INVESTMENTS (Details 7) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
IfrsStatementLineItems [Line Items] | ||||
Cash and cash equivalents | R$ 11991356 | R$ 16646480 | R$ 9944586 | R$ 1088955 |
Other current assets | 776,500 | 484,120 | ||
Other non-current assets | 4,749,718 | 4,365,755 | ||
Non-current assets | 54,741,999 | 44,406,749 | ||
Assets | 85,354,359 | 79,379,103 | ||
Current borrowings | 5,193,636 | 5,486,859 | ||
Current lease liabilities | 177,010 | 119,047 | ||
Current liabilities | 22,475,119 | 24,541,616 | ||
Non-current portion of non-current borrowings | 35,725,106 | 27,020,663 | ||
Non-current lease liabilities | 516,836 | 492,504 | ||
Non-current liabilities | 41,063,196 | 31,463,098 | ||
Equity | 21,816,044 | 23,374,389 | 11,251,505 | R$ 11361932 |
Equity and liabilities | 85,354,359 | 79,379,103 | ||
Net revenue | 44,362,120 | 47,912,039 | 30,064,020 | |
Cost of sales and services | 31,054,016 | 25,837,475 | 19,124,901 | |
Gross profit | 13,308,104 | 22,074,564 | 10,939,119 | |
Financial income (expenses), net | (3,515,025) | (1,944,184) | (796,311) | |
Income before income tax and social contribution | 4,126,437 | 18,595,778 | R$ 4918126 | |
M R S Logistica S A [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Cash and cash equivalents | 867,937 | 1,836,612 | ||
Advances to suppliers | 29,500 | 44,011 | ||
Other current assets | 1,351,335 | 1,065,913 | ||
Current assets | 2,248,772 | 2,946,536 | ||
Other non-current assets | 887,987 | 980,861 | ||
Investments ppe and intangible assets | 11,541,779 | 9,614,144 | ||
Non-current assets | 12,429,766 | 10,595,005 | ||
Assets | 14,678,538 | 13,541,541 | ||
Current borrowings | 735,231 | 767,992 | ||
Current lease liabilities | 472,129 | 383,323 | ||
Other current liabilities | 1,682,928 | 1,513,799 | ||
Current liabilities | 2,890,288 | 2,665,114 | ||
Non-current portion of non-current borrowings | 3,604,793 | 3,551,278 | ||
Non-current lease liabilities | 1,928,931 | 1,718,366 | ||
Other non-current liabilities | 740,892 | 759,538 | ||
Non-current liabilities | 6,274,616 | 6,029,182 | ||
Equity | 5,513,634 | 4,847,245 | ||
Equity and liabilities | 14,678,538 | 13,541,541 | ||
Transnordestina Logistica S A [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Cash and cash equivalents | 1,164 | 1,259 | ||
Advances to suppliers | 21,036 | 11,486 | ||
Other current assets | 78,777 | 55,334 | ||
Current assets | 100,977 | 68,079 | ||
Other non-current assets | 255,367 | 124,776 | ||
Investments ppe and intangible assets | 11,029,525 | 10,145,422 | ||
Non-current assets | 11,284,892 | 10,270,198 | ||
Assets | 11,385,869 | 10,338,277 | ||
Current borrowings | 142,073 | 228,769 | ||
Other current liabilities | 150,268 | 157,946 | ||
Current liabilities | 292,341 | 386,715 | ||
Non-current portion of non-current borrowings | 7,142,895 | 6,665,700 | ||
Other non-current liabilities | 1,484,884 | 928,254 | ||
Non-current liabilities | 8,627,779 | 7,593,954 | ||
Equity | 2,465,749 | 2,357,608 | ||
Equity and liabilities | 11,385,869 | 10,338,277 | ||
Net revenue | 375 | 138 | ||
Gross profit | 375 | 138 | ||
Operating (expenses) income | (40,685) | (76,543) | ||
Financial income (expenses), net | (21,551) | (20,651) | ||
Income before income tax and social contribution | (61,861) | (97,056) | ||
Profit / (loss) for the year | (61,861) | (97,056) | ||
Equimac S A [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Cash and cash equivalents | 8,983 | 2,077 | ||
Advances to suppliers | 1,384 | 407 | ||
Other current assets | 11,648 | 8,862 | ||
Current assets | 22,015 | 11,346 | ||
Other non-current assets | 1,643 | |||
Investments ppe and intangible assets | 41,709 | 28,964 | ||
Non-current assets | 43,352 | 28,964 | ||
Assets | 65,367 | 40,310 | ||
Current borrowings | 5,497 | 4,041 | ||
Current lease liabilities | 701 | |||
Other current liabilities | 5,777 | 4,063 | ||
Current liabilities | 11,975 | 8,104 | ||
Non-current portion of non-current borrowings | 14,446 | 15,351 | ||
Non-current lease liabilities | 630 | |||
Other non-current liabilities | 1,353 | |||
Non-current liabilities | 16,429 | 15,351 | ||
Equity | 36,963 | 16,855 | ||
Equity and liabilities | 65,367 | 40,310 | ||
Net revenue | 41,307 | 15,238 | ||
Cost of sales and services | (24,977) | (13,001) | ||
Gross profit | 16,330 | 2,237 | ||
Operating (expenses) income | (3,769) | (3,453) | ||
Financial income (expenses), net | (3,211) | |||
Income before income tax and social contribution | 9,350 | (1,216) | ||
Current and deferred income tax and social contribution | (1,479) | |||
Profit / (loss) for the year | 7,871 | (1,216) | ||
Ita Energetica [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Cash and cash equivalents | 46,946 | 42,500 | ||
Advances to suppliers | 1,273 | 1,254 | ||
Other current assets | 30,735 | 18,453 | ||
Current assets | 78,954 | 62,207 | ||
Other non-current assets | 19,007 | 19,578 | ||
Investments ppe and intangible assets | 325,911 | 358,265 | ||
Non-current assets | 344,918 | 377,843 | ||
Assets | 423,872 | 440,050 | ||
Other current liabilities | 14,326 | 40,473 | ||
Current liabilities | 14,326 | 40,473 | ||
Other non-current liabilities | 18,914 | 16,098 | ||
Non-current liabilities | 18,914 | 16,098 | ||
Equity | 390,632 | 383,479 | ||
Equity and liabilities | 423,872 | 440,050 | ||
M R S Logistica S A 3 [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Net revenue | 5,592,118 | 4,427,385 | ||
Cost of sales and services | (3,477,896) | (2,919,527) | ||
Gross profit | 2,114,222 | 1,507,858 | ||
Operating (expenses) income | (243,399) | (116,499) | ||
Financial income (expenses), net | (641,862) | (345,513) | ||
Income before income tax and social contribution | 1,228,961 | 1,045,846 | ||
Current and deferred income tax and social contribution | (354,786) | (346,551) | ||
Profit / (loss) for the year | 874,175 | 699,295 | ||
Ita Energetica 3 [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Net revenue | 188,024 | 221,023 | ||
Cost of sales and services | (100,454) | (81,649) | ||
Gross profit | 87,570 | 139,374 | ||
Operating (expenses) income | (77,742) | (69,097) | ||
Financial income (expenses), net | 2,545 | 1,274 | ||
Income before income tax and social contribution | 12,373 | 71,551 | ||
Current and deferred income tax and social contribution | (4,408) | (24,390) | ||
Profit / (loss) for the year | R$ 7965 | R$ 47161 |
BASIS OF CONSOLIDATION AND I_11
BASIS OF CONSOLIDATION AND INVESTMENTS (Details 8) | 12 Months Ended |
Dec. 31, 2022 | |
Cash Flow Projection One [Member] | |
IfrsStatementLineItems [Line Items] | |
Cash flow projection | Gross margin |
Measurement of recoverable value by 2057 | Estimated based on market study to capture cargo and operating costs according to market trend studies |
Cash Flow Projection Two [Member] | |
IfrsStatementLineItems [Line Items] | |
Cash flow projection | Cost estimate |
Measurement of recoverable value by 2057 | Study-based costs and market trends |
Cash Flow Projection Three [Member] | |
IfrsStatementLineItems [Line Items] | |
Cash flow projection | Perpetuity growth rate |
Measurement of recoverable value by 2057 | Growth rate was not considered as a result of the projection model until the end of the concession |
Cash Flow Projecti Four [Member] | |
IfrsStatementLineItems [Line Items] | |
Cash flow projection | Discount rate |
Measurement of recoverable value by 2057 | Range from 5.32% to 6.99% in real terms |
BASIS OF CONSOLIDATION AND I_12
BASIS OF CONSOLIDATION AND INVESTMENTS (Details 9) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
IfrsStatementLineItems [Line Items] | |||
Balance at December 31, 2021 | R$ 162181 | ||
Balance at December 31, 2022 | 159,080 | R$ 162181 | |
Balance at December 31, 2022 | 159,080 | 162,181 | |
Land [member] | |||
IfrsStatementLineItems [Line Items] | |||
Cost | 101,513 | 101,542 | R$ 97610 |
Balance at December 31, 2021 | 101,542 | 101,542 | 97,610 |
Transfer of property, plant and equipment | 4,065 | ||
Transfers to other asset groups | (133) | ||
Write-off | (29) | ||
Balance at December 31, 2022 | 101,513 | 101,542 | 101,542 |
Balance at December 31, 2022 | 101,513 | 101,542 | 101,542 |
Buildings [member] | |||
IfrsStatementLineItems [Line Items] | |||
Cost | 87,977 | 87,977 | 86,548 |
Accumulated depreciation | (30,410) | (27,338) | (24,284) |
Balance at December 31, 2021 | 60,639 | 60,639 | 62,264 |
Depreciation (note 26) | (3,072) | (3,055) | |
Transfer of property, plant and equipment | 1 | ||
Acquisition of Elizabeth | 1,296 | ||
Transfers to other asset groups | 133 | ||
Balance at December 31, 2022 | 57,567 | 60,639 | 60,639 |
Balance at December 31, 2022 | 57,567 | 60,639 | 60,639 |
Consolidated Total [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Cost | 189,490 | 189,519 | 184,158 |
Accumulated depreciation | (30,410) | (27,338) | (24,284) |
Balance at December 31, 2021 | 162,181 | 162,181 | 159,874 |
Depreciation (note 26) | (3,072) | (3,055) | |
Transfer of property, plant and equipment | 4,066 | ||
Acquisition of Elizabeth | 1,296 | ||
Write-off | (29) | ||
Balance at December 31, 2022 | 159,080 | 162,181 | 162,181 |
Balance at December 31, 2022 | R$ 159080 | R$ 162181 | R$ 162181 |
BASIS OF CONSOLIDATION AND I_13
BASIS OF CONSOLIDATION AND INVESTMENTS (Details 10) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Buildings [member] | ||
IfrsStatementLineItems [Line Items] | ||
Useful life measured as period of time, property, plant and equipment | 27 years | 27 years |
BASIS OF CONSOLIDATION AND I_14
BASIS OF CONSOLIDATION AND INVESTMENTS (Details Narrative) - BRL (R$) R$ / shares in Units, R$ in Thousands | 1 Months Ended | 12 Months Ended | |||||||
Dec. 15, 2022 | Dec. 23, 2022 | Oct. 21, 2022 | Mar. 31, 2021 | Mar. 23, 2021 | Feb. 17, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Jul. 31, 2022 | |
IfrsStatementLineItems [Line Items] | |||||||||
Stake percentage | 32.73% | 66.23% | |||||||
Number of shares sold by CSN | 377,804,907 | 372,749,743 | 377,804,907 | ||||||
Number of share before initial public offering | 5,430,057,060 | ||||||||
Price per share | R$ 0.44868615934 | ||||||||
Number of shares issued | 6,381,908 | ||||||||
Reverse impairment of fair value | R$ 387989 | ||||||||
Investment property | 159,080 | R$ 162181 | |||||||
Investment property [member] | |||||||||
IfrsStatementLineItems [Line Items] | |||||||||
Investment property | R$ 2163610 | R$ 2055976 | |||||||
C S N Mineracao [Member] | |||||||||
IfrsStatementLineItems [Line Items] | |||||||||
Number of shares sold | 161,189,078 | ||||||||
Number of shares sold by CSN | 422,961,066 | ||||||||
Number of share before initial public offering | 50,211,323 | ||||||||
Price per share | R$ 8.50 | ||||||||
Number of shares issued | 161,189,078 | ||||||||
Number of value issued | R$ 3211342 | R$ 1370107 | |||||||
Transaction costs | R$ 3164612 | R$ 1347862 | |||||||
Issuance of diluted shares | 161,189,078 | ||||||||
C S N Mineracao [Member] | Common Stock [Member] | |||||||||
IfrsStatementLineItems [Line Items] | |||||||||
Number of shares sold by CSN | 50,211,323 | ||||||||
Companhia Estadual De Geracaode Energia Eletrica C E E E G [Member] | |||||||||
IfrsStatementLineItems [Line Items] | |||||||||
Stake percentage | 99.99% | ||||||||
C S N Cimentos Brasil S A [Member] | |||||||||
IfrsStatementLineItems [Line Items] | |||||||||
Stake percentage | 99.99% | ||||||||
C S N Mineracao [Member] | |||||||||
IfrsStatementLineItems [Line Items] | |||||||||
Interest in subsidiary | 9.30% | 79.75% | 78.24% | ||||||
F T L Ferrovia Transnordestina Logistica S A [Member] | |||||||||
IfrsStatementLineItems [Line Items] | |||||||||
Interest in subsidiary | 92.71% | 92.71% | |||||||
F T L Ferrovia Transnordestina Logistica S A [Member] | Bottom of range [member] | |||||||||
IfrsStatementLineItems [Line Items] | |||||||||
Advances for future capital | R$ 10860000 | ||||||||
Interest in subsidiary | 92.38% | ||||||||
Other comprehensive income | R$ 29000 | ||||||||
F T L Ferrovia Transnordestina Logistica S A [Member] | Top of range [member] | |||||||||
IfrsStatementLineItems [Line Items] | |||||||||
Interest in subsidiary | 92.71% |
PROPERTY, PLANT AND EQUIPMENT_2
PROPERTY, PLANT AND EQUIPMENT (Details) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | R$ 26370445 | R$ 21531134 | R$ 19716223 | |
Effect of foreign exchange differences | (108,528) | (6,463) | ||
Acquisitions | 3,360,519 | 2,993,272 | ||
Capitalized interest (1) (notes 29 and 34) | [1] | 135,242 | 87,414 | |
PP&E provisions for losses and write-offs | 24,162 | (112,886) | ||
Depreciation | (2,719,701) | (2,112,657) | ||
Right of use - Remesurement | 99,728 | 109,109 | ||
Update of the ARO (Asset retirement obligation) | 2,357 | |||
Transfers to fixed assets to investment property without cash effect | (4,066) | |||
Acquisition of Elizabeth | 627,145 | |||
Transfers to inventory | 261,504 | |||
Others | 4,744 | 22 | ||
Transfer to intangible assets | (101,449) | |||
Consolidation of acquired companies and fair value to asset | 4,144,594 | |||
Gross carrying amount [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | 51,611,687 | 40,090,936 | 36,136,110 | |
Accumulated depreciation and amortisation [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | (25,241,242) | (18,559,802) | (16,419,887) | |
Right-of-use assets [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | 644,880 | 581,824 | 516,668 | |
Effect of foreign exchange differences | (1,024) | 26 | ||
Acquisitions | 26,218 | 62,106 | ||
PP&E provisions for losses and write-offs | (754) | (38,017) | ||
Depreciation | (104,382) | (68,068) | ||
Right of use - Remesurement | 99,728 | 109,109 | ||
Others | (2) | |||
Consolidation of acquired companies and fair value to asset | 43,272 | |||
Land [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | 485,107 | 349,495 | 257,686 | |
Effect of foreign exchange differences | (12,314) | (932) | ||
Acquisitions | 1,402 | |||
Transfers to fixed assets to investment property without cash effect | (4,065) | |||
Acquisition of Elizabeth | 100,489 | |||
Transfers to other asset categories | (70,520) | |||
Consolidation of acquired companies and fair value to asset | 217,044 | |||
Land [member] | Gross carrying amount [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | 485,107 | 349,495 | 257,686 | |
Buildings [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | 4,451,114 | 3,019,934 | 2,677,565 | |
Effect of foreign exchange differences | (21,167) | (6,402) | ||
Acquisitions | 48,061 | 22,441 | ||
PP&E provisions for losses and write-offs | (272) | (5,051) | ||
Depreciation | (218,941) | (163,911) | ||
Update of the ARO (Asset retirement obligation) | 2,357 | |||
Transfers to fixed assets to investment property without cash effect | (1) | |||
Acquisition of Elizabeth | 227,629 | |||
Others | 91 | |||
Transfers to other asset categories | 314,131 | |||
Consolidation of acquired companies and fair value to asset | 1,309,277 | |||
Buildings [member] | Gross carrying amount [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | 8,741,911 | 5,358,388 | 4,752,412 | |
Buildings [member] | Accumulated depreciation and amortisation [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | (4,290,797) | (2,338,454) | (2,074,847) | |
Machinery [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | 16,525,293 | 13,800,888 | 12,457,383 | |
Effect of foreign exchange differences | (66,796) | (2,627) | ||
Acquisitions | 6,631 | 367,050 | ||
PP&E provisions for losses and write-offs | 25,229 | (62,606) | ||
Depreciation | (2,334,638) | (1,845,757) | ||
Acquisition of Elizabeth | 278,576 | |||
Transfers to inventory | 261,504 | |||
Others | 4,700 | 19 | ||
Transfers to other asset categories | 2,800,864 | |||
Consolidation of acquired companies and fair value to asset | 2,288,415 | |||
Machinery [member] | Gross carrying amount [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | 36,373,386 | 29,348,048 | 26,213,225 | |
Machinery [member] | Accumulated depreciation and amortisation [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | (19,848,093) | (15,547,160) | (13,755,842) | |
Fixtures and fittings [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | 40,882 | 29,037 | 26,297 | |
Effect of foreign exchange differences | (756) | 1,418 | ||
Acquisitions | 6,618 | 6,756 | ||
PP&E provisions for losses and write-offs | (194) | |||
Depreciation | (7,245) | (7,043) | ||
Acquisition of Elizabeth | 878 | |||
Others | 6 | |||
Transfers to other asset categories | 5,421 | |||
Consolidation of acquired companies and fair value to asset | 7,801 | |||
Fixtures and fittings [member] | Gross carrying amount [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | 284,863 | 190,847 | 182,974 | |
Fixtures and fittings [member] | Accumulated depreciation and amortisation [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | (243,981) | (161,810) | (156,677) | |
Construction in progress [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | 4,025,550 | 3,643,682 | 3,680,322 | |
Effect of foreign exchange differences | (6,137) | 2,076 | ||
Acquisitions | 3,213,068 | 2,527,722 | ||
Capitalized interest (1) (notes 29 and 34) | [1] | 135,242 | 87,414 | |
PP&E provisions for losses and write-offs | (5,468) | |||
Acquisition of Elizabeth | 16,400 | |||
Others | 3 | |||
Transfers to other asset categories | (2,965,725) | |||
Transfer to intangible assets | (101,449) | |||
Consolidation of acquired companies and fair value to asset | 106,869 | |||
Construction in progress [member] | Gross carrying amount [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | 4,025,550 | 3,643,682 | 3,680,322 | |
Other property, plant and equipment [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | [2] | 197,619 | 106,274 | 100,302 |
Effect of foreign exchange differences | [2] | (334) | (22) | |
Acquisitions | [2] | 58,521 | 7,197 | |
PP&E provisions for losses and write-offs | [2] | (41) | (1,550) | |
Depreciation | [2] | (54,495) | (27,878) | |
Acquisition of Elizabeth | [2] | 3,173 | ||
Others | [2] | (51) | ||
Transfers to other asset categories | [2] | (84,171) | ||
Consolidation of acquired companies and fair value to asset | [2] | 171,916 | ||
Other property, plant and equipment [member] | Gross carrying amount [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | [2] | 643,304 | 445,870 | 414,705 |
Other property, plant and equipment [member] | Accumulated depreciation and amortisation [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | [2] | (445,685) | (339,596) | (314,403) |
Right-of-use assets [member] | Gross carrying amount [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | 1,057,566 | 754,606 | 634,786 | |
Right-of-use assets [member] | Accumulated depreciation and amortisation [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | R$ 412686 | R$ 172782 | R$ 118118 | |
[1]The capitalized borrowing costs are basically determined for the projects in Steel and Mining and refer substantially, to: - CSN: Technological updates and acquisition of new equipment for maintenance of the production capacity of UPV Plant (RJ); - CSN Mineração: Expansion of Casa de Pedra (MG) and TECAR (RJ). |
PROPERTY, PLANT AND EQUIPMENT_3
PROPERTY, PLANT AND EQUIPMENT (Details 1) - Right-of-use assets [member] - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
IfrsStatementLineItems [Line Items] | |||
Right-of-use assets | R$ 644880 | R$ 581824 | R$ 516668 |
Increase (decrease) through effect of changes in foreign exchange rates, liabilities arising from financing activities | (1,024) | 26 | |
Additions to right-of-use assets | 26,218 | 62,106 | |
Remesurement | 99,728 | 109,109 | |
Depreciation, right-of-use assets | (104,382) | (68,068) | |
Write-offs | (754) | (38,017) | |
Consolidation of acquired companies | 43,272 | ||
Others | (2) | ||
Gross carrying amount [member] | |||
IfrsStatementLineItems [Line Items] | |||
Right-of-use assets | 1,057,567 | 754,608 | 634,786 |
Accumulated depreciation and amortisation [member] | |||
IfrsStatementLineItems [Line Items] | |||
Right-of-use assets | (412,687) | (172,784) | (118,118) |
Land [member] | |||
IfrsStatementLineItems [Line Items] | |||
Right-of-use assets | 465,048 | 439,285 | 393,015 |
Additions to right-of-use assets | 2,520 | 1,195 | |
Remesurement | 45,410 | 63,120 | |
Depreciation, right-of-use assets | (22,153) | (23,424) | |
Write-offs | (16,940) | ||
Transfers to other asset categories [Default Label] | (14) | 22,319 | |
Land [member] | Gross carrying amount [member] | |||
IfrsStatementLineItems [Line Items] | |||
Right-of-use assets | 548,756 | 500,826 | 434,689 |
Land [member] | Accumulated depreciation and amortisation [member] | |||
IfrsStatementLineItems [Line Items] | |||
Right-of-use assets | (83,708) | (61,541) | (41,674) |
Buildings [member] | |||
IfrsStatementLineItems [Line Items] | |||
Right-of-use assets | 62,431 | 68,145 | 66,086 |
Increase (decrease) through effect of changes in foreign exchange rates, liabilities arising from financing activities | (360) | 3 | |
Additions to right-of-use assets | 2,042 | 178 | |
Remesurement | 8,325 | 18,031 | |
Depreciation, right-of-use assets | (16,726) | (10,343) | |
Transfers to other asset categories [Default Label] | (87) | (5,810) | |
Consolidation of acquired companies | 1,092 | ||
Buildings [member] | Gross carrying amount [member] | |||
IfrsStatementLineItems [Line Items] | |||
Right-of-use assets | 107,782 | 94,196 | 75,882 |
Buildings [member] | Accumulated depreciation and amortisation [member] | |||
IfrsStatementLineItems [Line Items] | |||
Right-of-use assets | (45,351) | (26,051) | (9,796) |
Machinery [member] | |||
IfrsStatementLineItems [Line Items] | |||
Right-of-use assets | 83,161 | 53,759 | 51,946 |
Increase (decrease) through effect of changes in foreign exchange rates, liabilities arising from financing activities | (62) | (6) | |
Additions to right-of-use assets | 4,191 | 40,503 | |
Remesurement | 38,430 | 27,958 | |
Depreciation, right-of-use assets | (48,142) | (25,472) | |
Write-offs | (754) | (20,944) | |
Transfers to other asset categories [Default Label] | 228 | (20,226) | |
Consolidation of acquired companies | 35,511 | ||
Machinery [member] | Gross carrying amount [member] | |||
IfrsStatementLineItems [Line Items] | |||
Right-of-use assets | 277,865 | 99,103 | 81,598 |
Machinery [member] | Accumulated depreciation and amortisation [member] | |||
IfrsStatementLineItems [Line Items] | |||
Right-of-use assets | (194,704) | (45,344) | (29,652) |
Other property, plant and equipment [member] | |||
IfrsStatementLineItems [Line Items] | |||
Right-of-use assets | 34,240 | 20,635 | 5,621 |
Increase (decrease) through effect of changes in foreign exchange rates, liabilities arising from financing activities | (602) | 29 | |
Additions to right-of-use assets | 17,465 | 20,230 | |
Remesurement | 7,563 | ||
Depreciation, right-of-use assets | (17,361) | (8,829) | |
Write-offs | (133) | ||
Transfers to other asset categories [Default Label] | (127) | 3,717 | |
Consolidation of acquired companies | 6,669 | ||
Others | (2) | ||
Other property, plant and equipment [member] | Gross carrying amount [member] | |||
IfrsStatementLineItems [Line Items] | |||
Right-of-use assets | 123,164 | 60,483 | 42,617 |
Other property, plant and equipment [member] | Accumulated depreciation and amortisation [member] | |||
IfrsStatementLineItems [Line Items] | |||
Right-of-use assets | R$ 88924 | R$ 39848 | R$ 36996 |
PROPERTY, PLANT AND EQUIPMENT_4
PROPERTY, PLANT AND EQUIPMENT (Details 2) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Buildings [member] | ||
IfrsStatementLineItems [Line Items] | ||
Average estimated useful lives | 34 years | 34 years |
Machinery [member] | ||
IfrsStatementLineItems [Line Items] | ||
Average estimated useful lives | 18 years | 18 years |
Fixtures and fittings [member] | ||
IfrsStatementLineItems [Line Items] | ||
Average estimated useful lives | 12 years | 12 years |
Other property, plant and equipment [member] | ||
IfrsStatementLineItems [Line Items] | ||
Average estimated useful lives | 9 years | 10 years |
INTANGIBLE ASSETS (Details)
INTANGIBLE ASSETS (Details) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | R$ 10788054 | R$ 7657050 | R$ 7316794 | |
Effect of foreign exchange differences | (52,216) | (3,800) | ||
Acquisitions and expenditures | 78,238 | 3,329 | ||
Transfer of property, plant and equipment | 101,449 | 29,840 | ||
Amortization | (154,883) | (102,480) | ||
Disposals | (63) | |||
Transfers to other asset categories | (101,449) | |||
Business Combination Elizabeth | 413,430 | |||
Consolidation of acquired companies | 3,158,416 | |||
Gross carrying amount [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | 12,051,227 | 8,707,918 | 8,263,532 | |
Accumulated depreciation and amortisation [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | (1,153,843) | (941,538) | (837,408) | |
Adjustment For Accumulated Recoverable Value [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | (109,330) | (109,330) | (109,330) | |
Goodwill [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | 4,131,483 | 3,729,236 | 3,606,156 | |
Transfers to other asset categories | 39,814 | |||
Business Combination Elizabeth | 83,266 | |||
Consolidation of acquired companies | 402,247 | |||
Goodwill [member] | Gross carrying amount [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | 4,371,890 | 3,969,643 | 3,846,563 | |
Goodwill [member] | Accumulated depreciation and amortisation [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | (131,077) | (131,077) | (131,077) | |
Goodwill [member] | Adjustment For Accumulated Recoverable Value [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | (109,330) | (109,330) | (109,330) | |
Customer-related intangible assets [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | 152,484 | 207,912 | 278,041 | |
Effect of foreign exchange differences | (26,059) | (1,835) | ||
Amortization | (63,351) | (68,294) | ||
Consolidation of acquired companies | 33,982 | |||
Customer-related intangible assets [member] | Gross carrying amount [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | 753,307 | 816,206 | 823,540 | |
Customer-related intangible assets [member] | Accumulated depreciation and amortisation [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | (600,823) | (608,294) | (545,499) | |
Technology-based intangible assets [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | 87,846 | 66,440 | 45,665 | |
Effect of foreign exchange differences | (544) | (24) | ||
Acquisitions and expenditures | 830 | 3,302 | ||
Transfer of property, plant and equipment | 30,456 | 29,840 | ||
Amortization | (15,344) | (12,343) | ||
Consolidation of acquired companies | 6,008 | |||
Technology-based intangible assets [member] | Gross carrying amount [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | 296,456 | 221,712 | 182,059 | |
Technology-based intangible assets [member] | Accumulated depreciation and amortisation [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | (208,610) | (155,272) | (136,394) | |
Brand names [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | 225,187 | 213,609 | 215,532 | |
Effect of foreign exchange differences | (25,399) | (1,923) | ||
Amortization | (1,393) | |||
Consolidation of acquired companies | 38,370 | |||
Brand names [member] | Gross carrying amount [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | 226,581 | 213,609 | 215,532 | |
Brand names [member] | Accumulated depreciation and amortisation [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | (1,394) | |||
Licences [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | [1] | 6,188,654 | 3,437,883 | 3,169,349 |
Acquisitions and expenditures | [1] | 76,764 | 27 | |
Transfer of property, plant and equipment | [1] | 70,993 | ||
Amortization | [1] | (74,795) | (21,843) | |
Transfers to other asset categories | [1] | (39,814) | ||
Business Combination Elizabeth | [1] | 330,164 | ||
Consolidation of acquired companies | [1] | 2,677,809 | ||
Licences [member] | Gross carrying amount [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | [1] | 6,400,593 | 3,484,778 | 3,193,787 |
Licences [member] | Accumulated depreciation and amortisation [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | [1] | (211,939) | (46,895) | (24,438) |
Other intangible assets [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | 2,400 | 1,970 | 2,051 | |
Effect of foreign exchange differences | (214) | (18) | ||
Acquisitions and expenditures | 644 | |||
Disposals | (63) | |||
Other intangible assets [member] | Gross carrying amount [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Balance at beginning | R$ 2400 | R$ 1970 | R$ 2051 | |
[1]Comprised mainly of: (i) mining rights whose amortization is based on production volume and (ii) Concession agreement for the use of water resources in the acquisition of control of CEEE-G, amortized over the agreement term (note 3.c). |
INTANGIBLE ASSETS (Details 1)
INTANGIBLE ASSETS (Details 1) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Technology-based intangible assets [member] | ||
IfrsStatementLineItems [Line Items] | ||
Average useful lives | 10 years | 9 years |
Customer-related intangible assets [member] | ||
IfrsStatementLineItems [Line Items] | ||
Average useful lives | 13 years | 13 years |
INTANGIBLE ASSETS (Details 2)
INTANGIBLE ASSETS (Details 2) - BRL (R$) R$ in Thousands | 1 Months Ended | 12 Months Ended | |||||
Dec. 15, 2022 | Oct. 21, 2022 | Nov. 29, 2019 | Dec. 31, 2022 | Dec. 31, 2021 | Aug. 31, 2021 | ||
IfrsStatementLineItems [Line Items] | |||||||
Cash generating unity | R$ 4356670 | R$ 3942845 | |||||
Impairment loss | 109,330 | ||||||
Goodwill | 11,415 | ||||||
Stake percentage | 32.73% | 66.23% | |||||
C S N Mineracao S A [Member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Stake percentage | 100% | ||||||
C K T R Brasil Servicos Ltd [Member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Stake percentage | 50% | ||||||
Elizabeth Cimentos [Member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Goodwill | R$ 83266 | ||||||
C S N Cimentos Brasil S A [Member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Goodwill | R$ 390832 | ||||||
Stake percentage | 99.99% | ||||||
Packaging [Member] | Steel [Member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Cash generating unity | [1] | R$ 170163 | 158,748 | ||||
Long Stel [Member] | Steel [Member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Cash generating unity | [2] | 460,782 | 449,204 | ||||
Mining [Member] | Minning [Member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Cash generating unity | [3] | 3,236,402 | 3,236,402 | ||||
Other Steel [Member] | Steel [Member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Cash generating unity | [4] | 15,225 | 15,225 | ||||
Other Steel [Member] | Cement [Member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Cash generating unity | [5] | 474,098 | 83,266 | ||||
Goodwill [member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Cash generating unity | 4,131,483 | 3,729,236 | |||||
Goodwill [member] | Packaging [Member] | Steel [Member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Cash generating unity | [1] | 170,163 | 158,748 | ||||
Goodwill [member] | Long Stel [Member] | Steel [Member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Cash generating unity | [2] | 235,595 | 235,595 | ||||
Goodwill [member] | Mining [Member] | Minning [Member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Cash generating unity | [3] | 3,236,402 | 3,236,402 | ||||
Goodwill [member] | Other Steel [Member] | Steel [Member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Cash generating unity | [4] | 15,225 | 15,225 | ||||
Goodwill [member] | Other Steel [Member] | Cement [Member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Cash generating unity | [5] | 474,098 | 83,266 | ||||
Brand names [member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Cash generating unity | 225,187 | 213,609 | |||||
Brand names [member] | Long Stel [Member] | Steel [Member] | |||||||
IfrsStatementLineItems [Line Items] | |||||||
Cash generating unity | [2] | R$ 225187 | R$ 213609 | ||||
[1]The goodwill of the Packaging cash-generating unit is shown net of impairment loss in the amount of R$ 109,330 11,415 50 100 83,266 390,832 |
INTANGIBLE ASSETS (Details 3)
INTANGIBLE ASSETS (Details 3) | 12 Months Ended | |
Dec. 31, 2022 | ||
Packaging [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Measurement of recoverable value | Discounted Cash Flow | |
Cash flow projection | Until 2032 + perpetuity | |
Gross Margin | Gross margin updated based on historical data, impacts of business restructuring and market trends | |
Cost atualization | Cost based on historical data of each product and impacts of business restructuring | |
Perpetual growth rate | Without growth | |
Packaging [Member] | Bottom of range [member] | ||
IfrsStatementLineItems [Line Items] | ||
Discount rate applied to cash flow projections | 3.53% | |
Nominal terms | 5.60% | |
Description of discount rates applied to cash flow projections | 6.01% | |
Packaging [Member] | Top of range [member] | ||
IfrsStatementLineItems [Line Items] | ||
Discount rate applied to cash flow projections | 13.09% | |
Nominal terms | 16.49% | |
Description of discount rates applied to cash flow projections | 7.56% | |
Mining [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Measurement of recoverable value | Discounted Cash Flow | |
Cash flow projection | Until 2064 | |
Gross Margin | It reflects projection of costs due to the progress of the mining plan as well as startup and project ramp up. Prices and exchange rates projected according to sectoral reports. | |
Cost atualization | Update of costs based on historical data, progress of the mining plan as well as startup and project ramp up | |
Perpetual growth rate | Without perpetuity | |
Other Steel [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Measurement of recoverable value | Discounted Cash Flow | |
Cash flow projection | Until 2032 + perpetuity | |
Gross Margin | Gross margin updated based on historical data and market trends | |
Cost atualization | Updated costs based on historical data and market trends | |
Perpetual growth rate | Without growth | |
Flat Steel [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Measurement of recoverable value | Discounted Cash Flow | [1] |
Cash flow projection | Until 2032 + perpetuity | [1] |
Gross Margin | Gross margin updated based on historical data and market trends | [1] |
Cost atualization | Updated costs based on historical data and market trends | [1] |
Perpetual growth rate | Without growth | [1] |
Flat Steel 1 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Measurement of recoverable value | Discounted Cash Flow | [1] |
Cash flow projection | Until 2035 + perpetuity | [1] |
Gross Margin | Gross margin updated based on historical data and market trends | [1] |
Cost atualization | Updated costs based on historical data and market trends | [1] |
Perpetual growth rate | Without growth | [1] |
Logistic [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Measurement of recoverable value | Discounted Cash Flow | [2] |
Cash flow projection | Until 2027 | [2] |
Gross Margin | Estimated based on market study to captures cargo and operational costs according to market trend studies | [2] |
Cost atualization | Study-based costs and market trends | [2] |
Perpetual growth rate | Without perpetuity | [2] |
Cement [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Measurement of recoverable value | Discounted Cash Flow | |
Cash flow projection | Until 2050 + perpetuity | |
Gross Margin | Gross margin updated based on historical data and market trends | |
Cost atualization | Study-based costs and market trends | |
Perpetual growth rate | Without growth | |
Packaging 1 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Discount rate applied to cash flow projections | 9.13% | |
[1]Refers to the assets of the subsidiary Lusosider, located in Portugal and also the assets of Stahlwerk Thüringen (SWT) located in Germany. The discount rate was applied on the discounted cash flow prepared in Euros, the functional currency of these subsidiaries.[2]Refers to the assets of the subsidiary FTL - Ferrovia Transnordestina Logística S.A.; |
BORROWINGS AND FINANCING (Detai
BORROWINGS AND FINANCING (Details) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | ||
Borrowings and financing, current | R$ 5269952 | R$ 5532736 |
Borrowings and financing, noncurrent | 36,170,996 | 27,221,914 |
Transaction costs and issue premiums, current | (76,316) | (45,877) |
Transaction costs and issue premiums, noncurrent | (445,890) | (201,251) |
Borrowings and financing and transaction costs, current | 5,193,636 | 5,486,859 |
Borrowings and financing and transaction costs, noncurrent | 35,725,106 | 27,020,663 |
Foreign Currency [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings and financing, current | 2,823,112 | 2,855,220 |
Borrowings and financing, noncurrent | 22,430,945 | 19,335,118 |
Foreign Currency [Member] | Prepayment [Member] | Variable Interest [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings and financing, current | 1,571,208 | 1,626,521 |
Borrowings and financing, noncurrent | 5,474,359 | 3,875,713 |
Foreign Currency [Member] | Bonds Perpetual Bonds And A C C [Member] | Fixed Interest [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings and financing, current | 1,189,717 | 678,239 |
Borrowings and financing, noncurrent | 16,790,284 | 15,380,392 |
Foreign Currency [Member] | Facility [Member] | Fixed Interest [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings and financing, current | 62,187 | 550,460 |
Borrowings and financing, noncurrent | 166,302 | 79,013 |
Local Currency [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings and financing, current | 2,446,840 | 2,677,516 |
Borrowings and financing, noncurrent | 13,740,051 | 7,886,796 |
Local Currency [Member] | B N D E S F I N A M E Debentures N C E And C C B [Member] | Variable Interest [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings and financing, current | 2,446,840 | 2,677,516 |
Borrowings and financing, noncurrent | R$ 13740051 | R$ 7886796 |
BORROWINGS AND FINANCING (Det_2
BORROWINGS AND FINANCING (Details 1) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Borrowings And Financing | |||
Opening balance | R$ 32507522 | R$ 35270653 | |
New debts | 20,248,223 | 12,915,332 | |
Repayment | (10,782,858) | (17,639,178) | R$ 6448658 |
Payments of charges | (2,315,586) | (2,137,782) | |
Accrued charges (note 29) | 2,595,011 | 2,140,961 | |
Acquisition of Elizabeth | 372,123 | ||
Consolidation of companies | 81,978 | ||
Others | (1,415,548) | 1,585,413 | |
Closing balance | R$ 40918742 | R$ 32507522 | R$ 35270653 |
BORROWINGS AND FINANCING (Det_3
BORROWINGS AND FINANCING (Details 2) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
IfrsStatementLineItems [Line Items] | |||
New debts | R$ 20248223 | R$ 12915332 | |
Repayment | (10,782,858) | R$ 17639178 | R$ 6448658 |
Interest payment | (2,315,586) | ||
Prepayment [Member] | |||
IfrsStatementLineItems [Line Items] | |||
New debts | R$ 2131171 | ||
Maturities | 2023 to 2032 | ||
Repayment | R$ 467381 | ||
Interest payment | (174,797) | ||
Bonds Perpetual Bonds A C C And Facility [Member] | |||
IfrsStatementLineItems [Line Items] | |||
New debts | R$ 9253891 | ||
Maturities | 2023 to 2032 | ||
Repayment | R$ 3471458 | ||
Interest payment | (951,167) | ||
Debentures [Member] | |||
IfrsStatementLineItems [Line Items] | |||
New debts | R$ 7300000 | ||
Maturities | 2024 to 2037 | ||
B N D E S F I N A M E Debentures N C E And C C B [Member] | |||
IfrsStatementLineItems [Line Items] | |||
New debts | R$ 1563161 | ||
Maturities | 2023 to 2025 | ||
Repayment | R$ 6844019 | ||
Interest payment | R$ 1189622 |
BORROWINGS AND FINANCING (Det_4
BORROWINGS AND FINANCING (Details 3) R$ in Thousands | Dec. 31, 2022 BRL (R$) |
IfrsStatementLineItems [Line Items] | |
Maturities of loans, financing and debentures | R$ 41440948 |
Later Than Two Years And Not Later Than Three Years 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Maturities of loans, financing and debentures | 5,269,952 |
Later Than Three Years And Not Later Than Four Years 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Maturities of loans, financing and debentures | 3,874,476 |
Later Than Four Years And Not Later Than Five Years 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Maturities of loans, financing and debentures | 3,459,429 |
Later Than Five Years And Not Later Than Six Years 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Maturities of loans, financing and debentures | 2,987,485 |
Later Than Six Years And Not Later Than Seven Years 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Maturities of loans, financing and debentures | 15,679,366 |
Later Than Seven Years And Not Later Than Seven Years 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Maturities of loans, financing and debentures | 5,530,152 |
Foreign Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Maturities of loans, financing and debentures | 25,254,057 |
Foreign Currency [Member] | Later Than Two Years And Not Later Than Three Years 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Maturities of loans, financing and debentures | 2,823,112 |
Foreign Currency [Member] | Later Than Three Years And Not Later Than Four Years 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Maturities of loans, financing and debentures | 852,419 |
Foreign Currency [Member] | Later Than Four Years And Not Later Than Five Years 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Maturities of loans, financing and debentures | 2,307,737 |
Foreign Currency [Member] | Later Than Five Years And Not Later Than Six Years 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Maturities of loans, financing and debentures | 2,469,116 |
Foreign Currency [Member] | Later Than Six Years And Not Later Than Seven Years 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Maturities of loans, financing and debentures | 796,378 |
Foreign Currency [Member] | Later Than Seven Years And Not Later Than Seven Years 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Maturities of loans, financing and debentures | 12,992,073 |
Foreign Currency [Member] | After Seven Years 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Maturities of loans, financing and debentures | 3,013,222 |
National Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Maturities of loans, financing and debentures | 4,640,088 |
National Currency [Member] | Later Than Two Years And Not Later Than Three Years 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Maturities of loans, financing and debentures | 2,446,840 |
National Currency [Member] | Later Than Three Years And Not Later Than Four Years 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Maturities of loans, financing and debentures | 3,022,057 |
National Currency [Member] | Later Than Four Years And Not Later Than Five Years 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Maturities of loans, financing and debentures | 1,151,692 |
National Currency [Member] | Later Than Five Years And Not Later Than Six Years 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Maturities of loans, financing and debentures | 2,170,972 |
National Currency [Member] | Later Than Six Years And Not Later Than Seven Years 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Maturities of loans, financing and debentures | 2,191,107 |
National Currency [Member] | Later Than Seven Years And Not Later Than Seven Years 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Maturities of loans, financing and debentures | 2,687,293 |
National Currency [Member] | After Seven Years 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Maturities of loans, financing and debentures | 2,516,930 |
Local Currency [Member] | |
IfrsStatementLineItems [Line Items] | |
Maturities of loans, financing and debentures | R$ 16186891 |
FINANCIAL INSTRUMENTS (Details)
FINANCIAL INSTRUMENTS (Details) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
IfrsStatementLineItems [Line Items] | ||
Total current financial assets at amortised cost | R$ 15578870 | R$ 19587380 |
Total current financial assets | 16,773,361 | 21,982,467 |
Total current financial assets at fair value through profit or loss | 1,194,491 | 2,395,087 |
Total non-current financial assets at amortised cost | 2,581,910 | 2,687,747 |
Total non-current financial assets | 2,676,610 | 2,878,068 |
Total non-current financial assets at fair value through profit or loss | 94,700 | 190,321 |
Total financial assets at fair value through profit or loss | 1,289,191 | 2,585,408 |
Total financial assets at amortised cost | 18,160,780 | 22,275,127 |
Total financial assets | 19,449,971 | 24,860,535 |
Total current financial liabilities at amortised cost | 18,364,253 | 17,745,619 |
Total current financial liabilities | 18,781,188 | 17,745,619 |
Total current financial liabilities at fair value through profit or loss | 416,935 | |
Total non-current financial liabilities at amortised cost | 36,734,101 | 27,813,043 |
Total non-current financial liabilities | 36,803,573 | 27,914,865 |
Total non-current financial liabilities at fair value through profit or loss | 69,472 | 101,822 |
Total financial liabilites at fair value through profit or loss | 486,407 | 101,822 |
Total financial liabilities at amortised cost | 55,098,354 | 45,558,662 |
Total financial liabilities | 55,584,761 | 45,660,484 |
Dividends And Interest On Equity [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total current financial assets at amortised cost | 77,377 | 76,878 |
Total current financial assets | 77,377 | 76,878 |
Total current financial liabilities at amortised cost | 611,307 | 1,206,870 |
Total current financial liabilities | 611,307 | 1,206,870 |
Borrowings And Financing [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total current financial liabilities at amortised cost | 5,269,952 | 5,532,736 |
Total current financial liabilities | 5,269,952 | 5,532,736 |
Total non-current financial liabilities at amortised cost | 36,170,996 | 27,221,914 |
Total non-current financial liabilities | 36,170,996 | 27,221,914 |
Leases [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total current financial liabilities at amortised cost | 177,010 | 119,047 |
Total current financial liabilities | 177,010 | 119,047 |
Total non-current financial liabilities at amortised cost | 516,836 | 492,504 |
Total non-current financial liabilities | 516,836 | 492,504 |
Trade Payables [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total current financial liabilities at amortised cost | 6,596,915 | 6,446,999 |
Total current financial liabilities | 6,596,915 | 6,446,999 |
Total non-current financial liabilities at amortised cost | 46,269 | 98,625 |
Total non-current financial liabilities | 46,269 | 98,625 |
Trade Payables Drawee Risk [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total current financial liabilities at amortised cost | 5,709,069 | 4,439,967 |
Total current financial liabilities | 5,709,069 | 4,439,967 |
Cash And Cash Equivalant [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total current financial assets at amortised cost | 11,991,356 | 16,646,480 |
Total current financial assets | 11,991,356 | 16,646,480 |
Short Term Investment [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total current financial assets at amortised cost | 271,590 | 261,673 |
Total current financial assets | 1,456,485 | 2,383,059 |
Total current financial assets at fair value through profit or loss | 1,184,895 | 2,644,732 |
Trade receivables [member] | ||
IfrsStatementLineItems [Line Items] | ||
Total current financial assets at amortised cost | 3,233,164 | 2,597,838 |
Total current financial assets | 3,233,164 | 2,597,838 |
Trading securities [member] | ||
IfrsStatementLineItems [Line Items] | ||
Total current financial assets | 9,596 | 12,028 |
Total current financial assets at fair value through profit or loss | 9,596 | 12,028 |
Related parties [member] | ||
IfrsStatementLineItems [Line Items] | ||
Total current financial assets at amortised cost | 5,383 | 4,511 |
Total current financial assets | 5,383 | 4,511 |
Investment property [member] | ||
IfrsStatementLineItems [Line Items] | ||
Total non-current financial assets at amortised cost | 156,185 | 147,671 |
Total non-current financial assets | 156,185 | 147,671 |
Total non-current financial assets at fair value through profit or loss | 94,700 | 190,321 |
Other Trade Receivables [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total non-current financial assets at amortised cost | 8,059 | 2,345 |
Total non-current financial assets | 8,059 | 2,345 |
Compulsory Loan Eletrobras [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total non-current financial assets at amortised cost | 58,030 | 859,607 |
Total non-current financial assets | 58,030 | 859,607 |
Receivables By Indemnity [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total non-current financial assets at amortised cost | 974,863 | 534,896 |
Total non-current financial assets | 974,863 | 534,896 |
Loans Related Parties [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total non-current financial assets at amortised cost | 1,384,773 | 1,143,228 |
Total non-current financial assets | 1,384,773 | 1,143,228 |
Investment Property 1 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Total non-current financial assets | 94,700 | 190,321 |
Total non-current financial assets at fair value through profit or loss | 94,700 | 190,321 |
Derivatives [member] | ||
IfrsStatementLineItems [Line Items] | ||
Total current financial liabilities | 416,935 | |
Total current financial liabilities at fair value through profit or loss | 416,935 | |
Total non-current financial liabilities | 69,472 | 101,822 |
Total non-current financial liabilities at fair value through profit or loss | R$ 69472 | R$ 101822 |
FINANCIAL INSTRUMENTS (Details
FINANCIAL INSTRUMENTS (Details 1) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
IfrsStatementLineItems [Line Items] | ||
Current financial assets at fair value through profit or loss | R$ 1194491 | R$ 2395087 |
Non-current financial assets at fair value through profit or loss | 94,700 | 190,321 |
Total Financial assets at fair value through profit or loss | 1,289,191 | 2,585,408 |
Current financial liabilities at fair value through profit or loss | 416,935 | |
Non-current financial liabilities at fair value through profit or loss | 69,472 | 101,822 |
Total financial liabilites at fair value through profit or loss | 486,407 | 101,822 |
Level 1 of fair value hierarchy [member] | ||
IfrsStatementLineItems [Line Items] | ||
Total Financial assets at fair value through profit or loss | 1,289,191 | 2,585,408 |
Level 2 of fair value hierarchy [member] | ||
IfrsStatementLineItems [Line Items] | ||
Total financial liabilites at fair value through profit or loss | 486,407 | 101,822 |
Financial Investmentes [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Current financial assets at fair value through profit or loss | 1,184,895 | 2,383,059 |
Financial Investmentes [Member] | Level 1 of fair value hierarchy [member] | ||
IfrsStatementLineItems [Line Items] | ||
Current financial assets at fair value through profit or loss | 1,184,895 | 2,383,059 |
Trading securities [member] | ||
IfrsStatementLineItems [Line Items] | ||
Current financial assets at fair value through profit or loss | 9,596 | 12,028 |
Trading securities [member] | Level 1 of fair value hierarchy [member] | ||
IfrsStatementLineItems [Line Items] | ||
Current financial assets at fair value through profit or loss | 9,596 | 12,028 |
Investment property [member] | ||
IfrsStatementLineItems [Line Items] | ||
Non-current financial assets at fair value through profit or loss | 94,700 | 190,321 |
Investment property [member] | Level 1 of fair value hierarchy [member] | ||
IfrsStatementLineItems [Line Items] | ||
Non-current financial assets at fair value through profit or loss | 94,700 | 190,321 |
Derivatives [member] | ||
IfrsStatementLineItems [Line Items] | ||
Current financial liabilities at fair value through profit or loss | 416,935 | |
Non-current financial liabilities at fair value through profit or loss | 69,472 | 101,822 |
Derivatives [member] | Level 2 of fair value hierarchy [member] | ||
IfrsStatementLineItems [Line Items] | ||
Current financial liabilities at fair value through profit or loss | 416,935 | |
Non-current financial liabilities at fair value through profit or loss | R$ 69472 | R$ 101822 |
FINANCIAL INSTRUMENTS (Detail_2
FINANCIAL INSTRUMENTS (Details 2) - U S [Member] - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
IfrsStatementLineItems [Line Items] | ||
Foreign exchange exposure | R$ 777947 | R$ 148990 |
Currency risk [member] | ||
IfrsStatementLineItems [Line Items] | ||
Foreign exchange exposure | (3,449,813) | (2,737,340) |
Currency risk [member] | Cash flow hedges [member] | ||
IfrsStatementLineItems [Line Items] | ||
Net foreign exchange exposure | 4,409,760 | 2,655,350 |
Currency risk [member] | Currency swap contract [member] | ||
IfrsStatementLineItems [Line Items] | ||
Net foreign exchange exposure | (67,000) | (67,000) |
Currency risk [member] | Exchange Rate Swap [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Net foreign exchange exposure | (115,000) | |
Cash And Cash Equivalents Overseas [Member] | Currency risk [member] | ||
IfrsStatementLineItems [Line Items] | ||
Net foreign exchange exposure | 1,191,036 | 1,656,271 |
Trade receivables [member] | Currency risk [member] | ||
IfrsStatementLineItems [Line Items] | ||
Net foreign exchange exposure | 315,920 | 212,424 |
FinancialInvestmentsMember | Currency risk [member] | ||
IfrsStatementLineItems [Line Items] | ||
Net foreign exchange exposure | 26,930 | 23,748 |
Borrowings And Financing [Member] | Currency risk [member] | ||
IfrsStatementLineItems [Line Items] | ||
Net foreign exchange exposure | (4,594,471) | (3,866,290) |
Trade Payables [Member] | Currency risk [member] | ||
IfrsStatementLineItems [Line Items] | ||
Net foreign exchange exposure | (366,149) | (613,961) |
Others [Member] | Currency risk [member] | ||
IfrsStatementLineItems [Line Items] | ||
Net foreign exchange exposure | R$ 23079 | R$ 149532 |
FINANCIAL INSTRUMENTS (Detail_3
FINANCIAL INSTRUMENTS (Details 3) - Currency risk [member] | Dec. 31, 2022 Number |
United States of America, Dollars | |
IfrsStatementLineItems [Line Items] | |
Exchange rate | 5.2177 |
United States of America, Dollars | Probable Scenario [Member] | |
IfrsStatementLineItems [Line Items] | |
Exchange rate | 5.2070 |
United States of America, Dollars | Scenario 1 [member] | |
IfrsStatementLineItems [Line Items] | |
Exchange rate | 6.5221 |
United States of America, Dollars | Scenario I I [Member] | |
IfrsStatementLineItems [Line Items] | |
Exchange rate | 7.8266 |
E U R [Member] | |
IfrsStatementLineItems [Line Items] | |
Exchange rate | 5.5694 |
E U R [Member] | Probable Scenario [Member] | |
IfrsStatementLineItems [Line Items] | |
Exchange rate | 5.5580 |
E U R [Member] | Scenario 1 [member] | |
IfrsStatementLineItems [Line Items] | |
Exchange rate | 6.9618 |
E U R [Member] | Scenario I I [Member] | |
IfrsStatementLineItems [Line Items] | |
Exchange rate | 8.3541 |
U S D X E U R [Member] | |
IfrsStatementLineItems [Line Items] | |
Exchange rate | 1.0674 |
U S D X E U R [Member] | Probable Scenario [Member] | |
IfrsStatementLineItems [Line Items] | |
Exchange rate | 1.0674 |
U S D X E U R [Member] | Scenario 1 [member] | |
IfrsStatementLineItems [Line Items] | |
Exchange rate | 1.3343 |
U S D X E U R [Member] | Scenario I I [Member] | |
IfrsStatementLineItems [Line Items] | |
Exchange rate | 1.6011 |
FINANCIAL INSTRUMENTS (Detail_4
FINANCIAL INSTRUMENTS (Details 4) - Currency risk [member] R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 BRL (R$) | ||
Probable Scenario [Member] | Exchange Rate Swap C D I Dollar [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Impact on profit or loss | R$ 717 | [1] |
Scenario 1 [member] | Exchange Rate Swap C D I Dollar [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Impact on profit or loss | (87,396) | |
Scenario I I [Member] | Exchange Rate Swap C D I Dollar [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Impact on profit or loss | (174,793) | |
Gross Exchange Position [Member] | Probable Scenario [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Impact on profit or loss | 36,913 | [1] |
Gross Exchange Position [Member] | Scenario 1 [member] | ||
IfrsStatementLineItems [Line Items] | ||
Impact on profit or loss | (4,500,022) | |
Gross Exchange Position [Member] | Scenario I I [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Impact on profit or loss | (9,000,045) | |
Cash flow hedges [member] | Probable Scenario [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Impact on profit or loss | (47,184) | [1] |
Cash flow hedges [member] | Scenario 1 [member] | ||
IfrsStatementLineItems [Line Items] | ||
Impact on profit or loss | 5,752,201 | |
Cash flow hedges [member] | Scenario I I [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Impact on profit or loss | 11,504,402 | |
Exchange Rate Swap Real Dollar [Member] | Probable Scenario [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Impact on profit or loss | 1,230 | [1] |
Exchange Rate Swap Real Dollar [Member] | Scenario 1 [member] | ||
IfrsStatementLineItems [Line Items] | ||
Impact on profit or loss | (150,009) | |
Exchange Rate Swap Real Dollar [Member] | Scenario I I [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Impact on profit or loss | (300,018) | |
Net Exchange Position [Member] | Probable Scenario [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Impact on profit or loss | (8,324) | [1] |
Net Exchange Position [Member] | Scenario 1 [member] | ||
IfrsStatementLineItems [Line Items] | ||
Impact on profit or loss | 1,014,774 | |
Net Exchange Position [Member] | Scenario I I [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Impact on profit or loss | 2,029,546 | |
United States of America, Dollars | Exchange Rate Swap C D I Dollar [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Notional amount | R$ 67000 | |
Risk | Dollar | |
United States of America, Dollars | Exchange Rate Swap Real Dollar [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Notional amount | R$ 115000 | |
Risk | Dollar | |
United States of America, Dollars | Gross Exchange Position [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Notional amount | R$ 3449813 | |
Risk | Dollar | |
United States of America, Dollars | Cash flow hedges [member] | ||
IfrsStatementLineItems [Line Items] | ||
Notional amount | R$ 4409760 | |
Risk | Dollar | |
United States of America, Dollars | Net Exchange Position [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Notional amount | R$ 777947 | |
Risk | Dollar | |
[1]The probable scenarios were calculated considering the following variations for the risks: Real x Dollar – valuation of the Real by 0.21% / Real x Euro - valuation of the Real by 0.20% / Euro x Dollar - no variation. Source: Central Bank of Brazil and European Central Bank quotations on March 1, 2023. |
FINANCIAL INSTRUMENTS (Detail_5
FINANCIAL INSTRUMENTS (Details 5) - Interest rate risk [member] | Dec. 31, 2022 |
C D I [Member] | |
IfrsStatementLineItems [Line Items] | |
Interest rate (in percent) | 13.65% |
C D I [Member] | Scenario 1 [member] | |
IfrsStatementLineItems [Line Items] | |
Interest rate (in percent) | 17.06% |
C D I [Member] | Scenario I I [Member] | |
IfrsStatementLineItems [Line Items] | |
Interest rate (in percent) | 20.48% |
T J L P [Member] | |
IfrsStatementLineItems [Line Items] | |
Interest rate (in percent) | 7.20% |
T J L P [Member] | Scenario 1 [member] | |
IfrsStatementLineItems [Line Items] | |
Interest rate (in percent) | 9% |
T J L P [Member] | Scenario I I [Member] | |
IfrsStatementLineItems [Line Items] | |
Interest rate (in percent) | 10.80% |
London Interbank Offered Rate L I B O R One [Member] | |
IfrsStatementLineItems [Line Items] | |
Interest rate (in percent) | 5.14% |
London Interbank Offered Rate L I B O R One [Member] | Scenario 1 [member] | |
IfrsStatementLineItems [Line Items] | |
Interest rate (in percent) | 6.42% |
London Interbank Offered Rate L I B O R One [Member] | Scenario I I [Member] | |
IfrsStatementLineItems [Line Items] | |
Interest rate (in percent) | 7.71% |
S E L I C [Member] | |
IfrsStatementLineItems [Line Items] | |
Interest rate (in percent) | 13.75% |
S E L I C [Member] | Scenario 1 [member] | |
IfrsStatementLineItems [Line Items] | |
Interest rate (in percent) | 17.19% |
S E L I C [Member] | Scenario I I [Member] | |
IfrsStatementLineItems [Line Items] | |
Interest rate (in percent) | 20.63% |
FINANCIAL INSTRUMENTS (Detail_6
FINANCIAL INSTRUMENTS (Details 6) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | |||
Assets | R$ 19449971 | R$ 24860535 | |
Liabilities | R$ 55584761 | R$ 45660484 | |
C D I [Member] | Interest rate risk [member] | |||
IfrsStatementLineItems [Line Items] | |||
Interest | 13.65% | ||
Assets | R$ 5026521 | ||
Liabilities | (14,249,092) | ||
C D I [Member] | Interest rate risk [member] | Probable Scenario [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Liabilities | [1] | (10,481,452) | |
C D I [Member] | Interest rate risk [member] | Scenario 1 [member] | |||
IfrsStatementLineItems [Line Items] | |||
Liabilities | (10,796,172) | ||
C D I [Member] | Interest rate risk [member] | Scenario I I [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Liabilities | R$ 11110892 | ||
T J L P [Member] | Interest rate risk [member] | |||
IfrsStatementLineItems [Line Items] | |||
Interest | 7.20% | ||
Liabilities | R$ 1044833 | ||
T J L P [Member] | Interest rate risk [member] | Probable Scenario [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Liabilities | [1] | (1,120,061) | |
T J L P [Member] | Interest rate risk [member] | Scenario 1 [member] | |||
IfrsStatementLineItems [Line Items] | |||
Liabilities | (1,138,868) | ||
T J L P [Member] | Interest rate risk [member] | Scenario I I [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Liabilities | R$ 1157675 | ||
L I B O R [Member] | Interest rate risk [member] | |||
IfrsStatementLineItems [Line Items] | |||
Interest | 5.14% | ||
Liabilities | R$ 6936984 | ||
L I B O R [Member] | Interest rate risk [member] | Probable Scenario [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Liabilities | [1] | (7,293,466) | |
L I B O R [Member] | Interest rate risk [member] | Scenario 1 [member] | |||
IfrsStatementLineItems [Line Items] | |||
Liabilities | (7,382,586) | ||
L I B O R [Member] | Interest rate risk [member] | Scenario I I [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Liabilities | R$ 7471707 | ||
S E L I C [Member] | Interest rate risk [member] | |||
IfrsStatementLineItems [Line Items] | |||
Interest | 13.75% | ||
Liabilities | R$ 14596 | ||
S E L I C [Member] | Interest rate risk [member] | Probable Scenario [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Liabilities | [1] | (16,603) | |
S E L I C [Member] | Interest rate risk [member] | Scenario 1 [member] | |||
IfrsStatementLineItems [Line Items] | |||
Liabilities | (17,105) | ||
S E L I C [Member] | Interest rate risk [member] | Scenario I I [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Liabilities | R$ 17606 | ||
[1]The sensitivity analysis is based on the premise of maintaining the market values as of December 31, 2022 as a probable scenario recorded in the company´s assets and liabilities. |
FINANCIAL INSTRUMENTS (Detail_7
FINANCIAL INSTRUMENTS (Details 7) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | ||
Other income and expenses | R$ 52290 | R$ 27728 |
Exchange variation | (4,333) | 16,790 |
Appreciation asset position | 4,841,261 | |
Appreciation liability position | (5,258,194) | |
Fair value (market) Amounts receivable / (payable) | (416,933) | |
Other comprehensive income | 341,269 | |
Settled Date 1 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Other income and expenses | (27,728) | |
Exchange variation | R$ 16790 | |
Settled Date 2 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Other income and expenses | 23,374 | |
Exchange variation | (1,087) | |
Settled Date 3 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Other income and expenses | (75,664) | |
Exchange variation | 667 | |
Appreciation asset position | 797,721 | |
Appreciation liability position | (873,385) | |
Fair value (market) Amounts receivable / (payable) | (75,664) | |
Settled Date 4 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Exchange variation | (1,484) | |
Appreciation asset position | 1,098,354 | |
Appreciation liability position | (1,218,934) | |
Fair value (market) Amounts receivable / (payable) | (120,580) | |
Other comprehensive income | 120,580 | |
Settled Date 5 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Exchange variation | (1,244) | |
Appreciation asset position | 1,087,106 | |
Appreciation liability position | (1,197,361) | |
Fair value (market) Amounts receivable / (payable) | (110,255) | |
Other comprehensive income | 110,255 | |
Settled Date 6 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Exchange variation | (938) | |
Appreciation asset position | 696,149 | |
Appreciation liability position | (770,062) | |
Fair value (market) Amounts receivable / (payable) | (73,913) | |
Other comprehensive income | 73,913 | |
Settled Date 7 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Exchange variation | (131) | |
Appreciation asset position | 372,109 | |
Appreciation liability position | (385,572) | |
Fair value (market) Amounts receivable / (payable) | (13,463) | |
Other comprehensive income | 13,463 | |
Settled Date 8 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Exchange variation | (81) | |
Appreciation asset position | 392,861 | |
Appreciation liability position | (404,946) | |
Fair value (market) Amounts receivable / (payable) | (12,085) | |
Other comprehensive income | 12,085 | |
Settled Date 9 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Exchange variation | (35) | |
Appreciation asset position | 396,961 | |
Appreciation liability position | (407,934) | |
Fair value (market) Amounts receivable / (payable) | (10,973) | |
Other comprehensive income | R$ 10973 |
FINANCIAL INSTRUMENTS (Detail_8
FINANCIAL INSTRUMENTS (Details 8) R$ in Thousands | 12 Months Ended |
Dec. 31, 2022 BRL (R$) | |
IfrsStatementLineItems [Line Items] | |
Cash flow hedge accounting - Platts | R$ 341269 |
Income tax and social contribution on cash flow hedge accounting | (116,031) |
Fair Value of cash flow accounting - Platts, net | 225,238 |
Movement [Member] | |
IfrsStatementLineItems [Line Items] | |
Cash flow hedge accounting - Platts | 393,559 |
Income tax and social contribution on cash flow hedge accounting | (133,810) |
Fair Value of cash flow accounting - Platts, net | 259,749 |
Realization [Member] | |
IfrsStatementLineItems [Line Items] | |
Cash flow hedge accounting - Platts | (52,290) |
Income tax and social contribution on cash flow hedge accounting | 17,779 |
Fair Value of cash flow accounting - Platts, net | R$ 34511 |
FINANCIAL INSTRUMENTS (Detail_9
FINANCIAL INSTRUMENTS (Details 9) R$ in Thousands | Dec. 31, 2022 BRL (R$) |
Probable Scenario [Member] | |
IfrsStatementLineItems [Line Items] | |
Platts price risks | R$ 641177 |
Probable Scenario [Member] | Maturity Date [Member] | |
IfrsStatementLineItems [Line Items] | |
Platts price risks | (187,669) |
Probable Scenario [Member] | Maturity Date 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Platts price risks | (187,132) |
Probable Scenario [Member] | Maturity Date 2 [Member] | |
IfrsStatementLineItems [Line Items] | |
Platts price risks | (129,814) |
Probable Scenario [Member] | Maturity Date 3 [Member] | |
IfrsStatementLineItems [Line Items] | |
Platts price risks | (44,186) |
Probable Scenario [Member] | Maturity Date 4 [Member] | |
IfrsStatementLineItems [Line Items] | |
Platts price risks | (47,457) |
Probable Scenario [Member] | Maturity Date 5 [Member] | |
IfrsStatementLineItems [Line Items] | |
Platts price risks | (44,919) |
Scenario 1 [member] | |
IfrsStatementLineItems [Line Items] | |
Platts price risks | (1,276,437) |
Scenario 1 [member] | Maturity Date [Member] | |
IfrsStatementLineItems [Line Items] | |
Platts price risks | (362,057) |
Scenario 1 [member] | Maturity Date 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Platts price risks | (359,922) |
Scenario 1 [member] | Maturity Date 2 [Member] | |
IfrsStatementLineItems [Line Items] | |
Platts price risks | (241,817) |
Scenario 1 [member] | Maturity Date 3 [Member] | |
IfrsStatementLineItems [Line Items] | |
Platts price risks | (100,637) |
Scenario 1 [member] | Maturity Date 4 [Member] | |
IfrsStatementLineItems [Line Items] | |
Platts price risks | (107,165) |
Scenario 1 [member] | Maturity Date 5 [Member] | |
IfrsStatementLineItems [Line Items] | |
Platts price risks | (104,839) |
Scenario I I [Member] | |
IfrsStatementLineItems [Line Items] | |
Platts price risks | (2,340,432) |
Scenario I I [Member] | Maturity Date [Member] | |
IfrsStatementLineItems [Line Items] | |
Platts price risks | (654,139) |
Scenario I I [Member] | Maturity Date 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Platts price risks | (649,327) |
Scenario I I [Member] | Maturity Date 2 [Member] | |
IfrsStatementLineItems [Line Items] | |
Platts price risks | (429,410) |
Scenario I I [Member] | Maturity Date 3 [Member] | |
IfrsStatementLineItems [Line Items] | |
Platts price risks | (195,186) |
Scenario I I [Member] | Maturity Date 4 [Member] | |
IfrsStatementLineItems [Line Items] | |
Platts price risks | (207,171) |
Scenario I I [Member] | Maturity Date 5 [Member] | |
IfrsStatementLineItems [Line Items] | |
Platts price risks | R$ 205199 |
FINANCIAL INSTRUMENTS (Detai_10
FINANCIAL INSTRUMENTS (Details 10) - Cash flow hedges [member] - Currency risk [member] R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 BRL (R$) Number | ||
IfrsStatementLineItems [Line Items] | ||
Designated amounts | R$ 8382746 | |
Amortized part | (3,972,986) | |
Effect on Result | (1,426,299) | [1] |
Impact on Shareholders' equity | R$ 4434697 | |
Export prepayments in us$ to third parties [member] | ||
IfrsStatementLineItems [Line Items] | ||
Designation date | 07/23/2015 | |
Hedging instrument | Export prepayments in US$ to third parties | |
Hedged item | Part of the highly probable future monthly iron ore exports | |
Type of hedged risk | Foreign exchange - R$ vs. US$ spot rate | |
Hedged period | August 2018 - October 2022 | |
Exchange rate on designation | Number | 3.2850 | |
Designated amounts | R$ 30000 | |
Amortized part | (30,000) | |
Effect on Result | R$ 11832 | [1] |
ExportPrepaymentsInUsToThirdPartiesOneMember | ||
IfrsStatementLineItems [Line Items] | ||
Designation date | 07/24/2015 | |
Hedging instrument | Export prepayments in US$ to third parties | |
Hedged item | Part of the highly probable future monthly iron ore exports | |
Type of hedged risk | Foreign exchange - R$ vs. US$ spot rate | |
Hedged period | August 2018 - October 2022 | |
Exchange rate on designation | Number | 3.3254 | |
Designated amounts | R$ 100000 | |
Amortized part | (100,000) | |
Effect on Result | (39,382) | [1] |
Impact on Shareholders' equity | ||
ExportPrepaymentsInUsToThirdPartiesTwoMember | ||
IfrsStatementLineItems [Line Items] | ||
Designation date | 07/27/2015 | |
Hedging instrument | Export prepayments in US$ to third parties | |
Hedged item | Part of the highly probable future monthly iron ore exports | |
Type of hedged risk | Foreign exchange - R$ vs. US$ spot rate | |
Hedged period | August 2018 - October 2022 | |
Exchange rate on designation | Number | 3.3557 | |
Designated amounts | R$ 25000 | |
Amortized part | (25,000) | |
Effect on Result | (1,583) | [1] |
Impact on Shareholders' equity | ||
ExportPrepaymentsInUsToThirdPartiesThreeMember | ||
IfrsStatementLineItems [Line Items] | ||
Designation date | 07/27/2015 | |
Hedging instrument | Export prepayments in US$ to third parties | |
Hedged item | Part of the highly probable future monthly iron ore exports | |
Type of hedged risk | Foreign exchange - R$ vs. US$ spot rate | |
Hedged period | August 2018 - October 2022 | |
Exchange rate on designation | Number | 3.3557 | |
Designated amounts | R$ 70000 | |
Amortized part | (70,000) | |
Effect on Result | (26,068) | [1] |
Impact on Shareholders' equity | ||
ExportPrepaymentsInUsToThirdPartiesFourMember | ||
IfrsStatementLineItems [Line Items] | ||
Designation date | 07/27/2015 | |
Hedging instrument | Export prepayments in US$ to third parties | |
Hedged item | Part of the highly probable future monthly iron ore exports | |
Type of hedged risk | Foreign exchange - R$ vs. US$ spot rate | |
Hedged period | August 2018 - October 2022 | |
Exchange rate on designation | Number | 3.3557 | |
Designated amounts | R$ 30000 | |
Amortized part | (30,000) | |
Effect on Result | (20,038) | [1] |
Impact on Shareholders' equity | ||
Export Prepayments In Us To Third Parties Five [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Designation date | 07/28/2015 | |
Hedging instrument | Export prepayments in US$ to third parties | |
Hedged item | Part of the highly probable future monthly iron ore exports | |
Type of hedged risk | Foreign exchange - R$ vs. US$ spot rate | |
Hedged period | August 2018 - October 2022 | |
Exchange rate on designation | Number | 3.3815 | |
Designated amounts | R$ 30000 | |
Amortized part | (30,000) | |
Effect on Result | (11,253) | [1] |
Impact on Shareholders' equity | ||
Export pepayments in us$ to third parties [member] | ||
IfrsStatementLineItems [Line Items] | ||
Designation date | 3/8/2015 | |
Hedging instrument | Export prepayments in US$ to third parties | |
Hedged item | Part of the highly probable future monthly iron ore exports | |
Type of hedged risk | Foreign exchange - R$ vs. US$ spot rate | |
Hedged period | July 2018 - October 2022 | |
Exchange rate on designation | Number | 3.3940 | |
Designated amounts | R$ 355000 | |
Amortized part | (355,000) | |
Effect on Result | (22,356) | [1] |
Impact on Shareholders' equity | ||
Bond [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Designation date | 2/4/2018 | |
Hedging instrument | Bonds | |
Hedged item | Part of the highly probable future monthly iron ore exports | |
Type of hedged risk | Foreign exchange - R$ vs. US$ spot rate | |
Hedged period | July 2018 - February 2023 | |
Exchange rate on designation | Number | 3.3104 | |
Designated amounts | R$ 1170045 | |
Amortized part | (1,093,045) | |
Effect on Result | (389,596) | [1] |
Impact on Shareholders' equity | R$ 290375 | |
Bonds and export prepayments in us$ [member] | ||
IfrsStatementLineItems [Line Items] | ||
Designation date | 07/31/2019 | |
Hedging instrument | Bonds and Export prepayments in US$ to third parties | |
Hedged item | Part of the highly probable future monthly iron ore exports | |
Type of hedged risk | Foreign exchange - R$ vs. US$ spot rate | |
Hedged period | January 2020 - April 2026 | |
Exchange rate on designation | Number | 3.7649 | |
Designated amounts | R$ 1342761 | |
Amortized part | (829,661) | |
Effect on Result | (770,870) | [1] |
Impact on Shareholders' equity | R$ 745432 | |
Bond [member] | ||
IfrsStatementLineItems [Line Items] | ||
Designation date | 10/1/2020 | |
Hedging instrument | Bonds | |
Hedged item | Part of the highly probable future monthly iron ore exports | |
Type of hedged risk | Foreign exchange - R$ vs. US$ spot rate | |
Hedged period | March 2027 - January 2028 | |
Exchange rate on designation | Number | 4.0745 | |
Designated amounts | R$ 1416000 | |
Amortized part | (1,287,000) | |
Effect on Result | (67,766) | [1] |
Impact on Shareholders' equity | R$ 1362073 | |
Bond Two [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Designation date | 01/28/2020 | |
Hedging instrument | Bonds | |
Hedged item | Part of the highly probable future monthly iron ore exports | |
Type of hedged risk | Foreign exchange - R$ vs. US$ spot rate | |
Hedged period | March 2027 - January 2028 | |
Exchange rate on designation | Number | 4.2064 | |
Designated amounts | R$ 1000000 | |
Amortized part | ||
Effect on Result | [1] | |
Impact on Shareholders' equity | R$ 1011300 | |
Bondsand Exportprepaymentsin U S One [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Designation date | 1/6/2022 | |
Hedging instrument | Bonds and Export prepayments in US$ to third parties | |
Hedged item | Part of the highly probable future monthly iron ore exports | |
Type of hedged risk | Foreign exchange - R$ vs. US$ spot rate | |
Hedged period | June 2022 - April 2032 | |
Exchange rate on designation | Number | 4.7289 | |
Designated amounts | R$ 1145300 | |
Amortized part | (62,200) | |
Effect on Result | (32,290) | [1] |
Impact on Shareholders' equity | R$ 529419 | |
ExportPrepaymentsInUsToThirdPartiesSevenMember | ||
IfrsStatementLineItems [Line Items] | ||
Designation date | 1/6/2022 | |
Hedging instrument | Export prepayments in US$ to third parties | |
Hedged item | Part of the highly probable future monthly iron ore exports | |
Type of hedged risk | Foreign exchange - R$ vs. US$ spot rate | |
Hedged period | June 2022 - May 2033 | |
Exchange rate on designation | Number | 4.7289 | |
Designated amounts | R$ 878640 | |
Amortized part | (61,080) | |
Effect on Result | (33,265) | [1] |
Impact on Shareholders' equity | R$ 399623 | |
Bond Three [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Designation date | 1/12/2022 | |
Hedging instrument | Bonds | |
Hedged item | Part of the highly probable future monthly iron ore exports | |
Type of hedged risk | Foreign exchange - R$ vs. US$ spot rate | |
Hedged period | December 2022 - June 2031 | |
Exchange rate on designation | Number | 5.0360 | |
Designated amounts | R$ 490000 | |
Impact on Shareholders' equity | R$ 89033 | |
Advance On Foreign Exchange Contract [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Designation date | 1/12/2022 | |
Hedging instrument | Advance on foreign exchange contract | |
Hedged item | Part of the highly probable future monthly iron ore exports | |
Type of hedged risk | Foreign exchange - R$ vs. US$ spot rate | |
Hedged period | December 2022 - November 2023 | |
Exchange rate on designation | Number | 5.1643 | |
Designated amounts | R$ 60000 | |
Impact on Shareholders' equity | R$ 3204 | |
Advance On Foreign Exchange Contract One [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Designation date | 1/12/2022 | |
Hedging instrument | Advance on foreign exchange contract | |
Hedged item | Part of the highly probable future monthly iron ore exports | |
Type of hedged risk | Foreign exchange - R$ vs. US$ spot rate | |
Hedged period | December 2022 - December 2025 | |
Exchange rate on designation | Number | 5.2565 | |
Designated amounts | R$ 100000 | |
Impact on Shareholders' equity | R$ 3880 | |
Advance On Foreign Exchange Contract Two [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Designation date | 1/12/2022 | |
Hedging instrument | Advance on foreign exchange contract | |
Hedged item | Part of the highly probable future monthly iron ore exports | |
Type of hedged risk | Foreign exchange - R$ vs. US$ spot rate | |
Hedged period | December 2022 - January 2024 | |
Exchange rate on designation | Number | 5.2660 | |
Designated amounts | R$ 50000 | |
Impact on Shareholders' equity | R$ 2415 | |
Advance On Foreign Exchange Contract Three [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Designation date | 1/12/2022 | |
Hedging instrument | Advance on foreign exchange contract | |
Hedged item | Part of the highly probable future monthly iron ore exports | |
Type of hedged risk | Foreign exchange - R$ vs. US$ spot rate | |
Hedged period | December 2022 - November 2023 | |
Exchange rate on designation | Number | 5.3270 | |
Designated amounts | R$ 20000 | |
Impact on Shareholders' equity | R$ 2186 | |
Export Prepayments In Us To Third Parties Eight [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Designation date | 1/12/2022 | |
Hedging instrument | Export prepayments in US$ to third parties | |
Hedged item | Part of the highly probable future monthly iron ore exports | |
Type of hedged risk | Foreign exchange - R$ vs. US$ spot rate | |
Hedged period | December 2022 - June 2027 | |
Exchange rate on designation | Number | 5.0360 | |
Designated amounts | R$ 70000 | |
Impact on Shareholders' equity | R$ 12719 | |
[1]The realization of Hedge accounting cash flow is recognized in Other operating income and expenses, note 27. |
FINANCIAL INSTRUMENTS (Detai_11
FINANCIAL INSTRUMENTS (Details 11) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
IfrsStatementLineItems [Line Items] | |||
Movement | R$ 243942 | R$ 795923 | R$ 5537174 |
Realization | (1,393,034) | (525,290) | R$ 1667886 |
Cash flow hedges [member] | |||
IfrsStatementLineItems [Line Items] | |||
Fair value, net of taxes, beginning | 3,803,844 | ||
Movement | 64,413 | ||
Realization | (941,357) | ||
Fair value, net of taxes, ending | 2,926,900 | 3,803,844 | |
Cash flow hedges [member] | Currency risk [member] | |||
IfrsStatementLineItems [Line Items] | |||
Fair value, net of taxes, beginning | 5,763,400 | ||
Movement | 97,596 | ||
Realization | (1,426,299) | ||
Fair value, net of taxes, ending | 4,434,697 | 5,763,400 | |
Income Tax And Social Contribution On Cash Flow Hedge Accounting [Member] | Currency risk [member] | |||
IfrsStatementLineItems [Line Items] | |||
Fair value, net of taxes, beginning | (1,959,556) | ||
Movement | (33,183) | ||
Realization | 484,942 | ||
Fair value, net of taxes, ending | R$ 1507797 | R$ 1959556 |
FINANCIAL INSTRUMENTS (Detai_12
FINANCIAL INSTRUMENTS (Details 12) R$ in Thousands | Dec. 31, 2022 BRL (R$) |
IfrsStatementLineItems [Line Items] | |
Contractual maturities | R$ 55584761 |
Not later than one year [member] | |
IfrsStatementLineItems [Line Items] | |
Contractual maturities | 18,781,188 |
Later than one year and not later than two years [member] | |
IfrsStatementLineItems [Line Items] | |
Contractual maturities | 4,127,724 |
Later than two years and not later than five years [member] | |
IfrsStatementLineItems [Line Items] | |
Contractual maturities | 11,244,531 |
Later than five years [member] | |
IfrsStatementLineItems [Line Items] | |
Contractual maturities | 21,431,318 |
Borrowings And Financing [Member] | |
IfrsStatementLineItems [Line Items] | |
Contractual maturities | 41,440,948 |
Borrowings And Financing [Member] | Not later than one year [member] | |
IfrsStatementLineItems [Line Items] | |
Contractual maturities | 5,269,952 |
Borrowings And Financing [Member] | Later than one year and not later than two years [member] | |
IfrsStatementLineItems [Line Items] | |
Contractual maturities | 3,874,476 |
Borrowings And Financing [Member] | Later than two years and not later than five years [member] | |
IfrsStatementLineItems [Line Items] | |
Contractual maturities | 11,087,002 |
Borrowings And Financing [Member] | Later than five years [member] | |
IfrsStatementLineItems [Line Items] | |
Contractual maturities | 21,209,518 |
Leases [Member] | |
IfrsStatementLineItems [Line Items] | |
Contractual maturities | 693,846 |
Leases [Member] | Not later than one year [member] | |
IfrsStatementLineItems [Line Items] | |
Contractual maturities | 177,010 |
Leases [Member] | Later than one year and not later than two years [member] | |
IfrsStatementLineItems [Line Items] | |
Contractual maturities | 155,938 |
Leases [Member] | Later than two years and not later than five years [member] | |
IfrsStatementLineItems [Line Items] | |
Contractual maturities | 139,118 |
Leases [Member] | Later than five years [member] | |
IfrsStatementLineItems [Line Items] | |
Contractual maturities | 221,780 |
Derivatives [member] | |
IfrsStatementLineItems [Line Items] | |
Contractual maturities | 486,407 |
Derivatives [member] | Not later than one year [member] | |
IfrsStatementLineItems [Line Items] | |
Contractual maturities | 416,935 |
Derivatives [member] | Later than one year and not later than two years [member] | |
IfrsStatementLineItems [Line Items] | |
Contractual maturities | 69,472 |
Trade Payables [Member] | |
IfrsStatementLineItems [Line Items] | |
Contractual maturities | 6,643,184 |
Trade Payables [Member] | Not later than one year [member] | |
IfrsStatementLineItems [Line Items] | |
Contractual maturities | 6,596,915 |
Trade Payables [Member] | Later than one year and not later than two years [member] | |
IfrsStatementLineItems [Line Items] | |
Contractual maturities | 27,838 |
Trade Payables [Member] | Later than two years and not later than five years [member] | |
IfrsStatementLineItems [Line Items] | |
Contractual maturities | 18,411 |
Trade Payables [Member] | Later than five years [member] | |
IfrsStatementLineItems [Line Items] | |
Contractual maturities | 20 |
Trade Payables Drawee Risk [Member] | |
IfrsStatementLineItems [Line Items] | |
Contractual maturities | 5,709,069 |
Trade Payables Drawee Risk [Member] | Not later than one year [member] | |
IfrsStatementLineItems [Line Items] | |
Contractual maturities | 5,709,069 |
Dividends And Interest On Equity [Member] | |
IfrsStatementLineItems [Line Items] | |
Contractual maturities | 611,307 |
Dividends And Interest On Equity [Member] | Not later than one year [member] | |
IfrsStatementLineItems [Line Items] | |
Contractual maturities | R$ 611307 |
FINANCIAL INSTRUMENTS (Detai_13
FINANCIAL INSTRUMENTS (Details 13) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
IfrsStatementLineItems [Line Items] | ||
Closing Balance | R$ 55584761 | R$ 45660484 |
Fixed Rate Notes [Member] | Liquidity risk [member] | ||
IfrsStatementLineItems [Line Items] | ||
Closing Balance | 15,656,088 | 15,617,091 |
Fair value | R$ 13782836 | R$ 15700276 |
FINANCIAL INSTRUMENTS (Detai_14
FINANCIAL INSTRUMENTS (Details 14) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
IfrsStatementLineItems [Line Items] | |||
Impact on financial income (expenses) | R$ 48556 | R$ 439 | R$ 115815 |
Appreciation asset position | 4,804,116 | ||
Appreciation liability position | (5,031,567) | ||
Fair value market amoount receivable / payable | R$ 227451 | ||
Exchange Rate Swap Dollar Euro [Member] | Currency risk [member] | |||
IfrsStatementLineItems [Line Items] | |||
Maturity | Settled | ||
Functional Currency | Dollar | ||
Impact on financial income (expenses) | 7,119 | (9,672) | |
Exchange Rate Swap Dollar Real [Member] | Currency risk [member] | |||
IfrsStatementLineItems [Line Items] | |||
Maturity | Settled | ||
Functional Currency | Dollar | ||
Impact on financial income (expenses) | R$ 176991 | 37,322 | |
Notional amount | R$ 100000 | ||
Exchange Rate Swap C D I Dollar [Member] | Currency risk [member] | |||
IfrsStatementLineItems [Line Items] | |||
Maturity | 10/02/2023 | ||
Functional Currency | Dollar | ||
Impact on financial income (expenses) | R$ 43817 | (9,960) | (106,143) |
Notional amount | 67,000 | ||
Appreciation asset position | 297,020 | ||
Appreciation liability position | (355,025) | ||
Fair value market amoount receivable / payable | R$ 58005 | ||
Exchange Rate Swap Real Dollar [Member] | Currency risk [member] | |||
IfrsStatementLineItems [Line Items] | |||
Maturity | 10/6/2027 | ||
Functional Currency | Dollar | ||
Impact on financial income (expenses) | R$ 11467 | ||
Notional amount | 115,000 | ||
Appreciation asset position | 622,776 | ||
Appreciation liability position | (634,243) | ||
Fair value market amoount receivable / payable | (11,467) | ||
Total Swap [Member] | Currency risk [member] | |||
IfrsStatementLineItems [Line Items] | |||
Impact on financial income (expenses) | 209,341 | 34,481 | R$ 115815 |
Notional amount | 282,000 | ||
Appreciation asset position | 919,796 | ||
Appreciation liability position | (989,268) | ||
Fair value market amoount receivable / payable | R$ 69472 | ||
Interest Rate Debentures C D I I P C A [Member] | Currency risk [member] | |||
IfrsStatementLineItems [Line Items] | |||
Maturity | 07/15/2031 | ||
Functional Currency | Real | ||
Impact on financial income (expenses) | R$ 67471 | (17,432) | |
Notional amount | 576,448 | ||
Appreciation asset position | 612,994 | ||
Appreciation liability position | (649,635) | ||
Fair value market amoount receivable / payable | R$ 36641 | ||
Interest Rate Debentures C D I I P C A One [Member] | Currency risk [member] | |||
IfrsStatementLineItems [Line Items] | |||
Maturity | 07/15/2032 | ||
Functional Currency | Real | ||
Impact on financial income (expenses) | R$ 36571 | ||
Notional amount | 745,000 | ||
Appreciation asset position | 813,924 | ||
Appreciation liability position | (850,497) | ||
Fair value market amoount receivable / payable | R$ 36573 | ||
Interest Rate Debentures C D I I P C A Two [Member] | Currency risk [member] | |||
IfrsStatementLineItems [Line Items] | |||
Maturity | 07/15/2036 | ||
Functional Currency | Real | ||
Impact on financial income (expenses) | R$ 25057 | (17,488) | |
Notional amount | 423,552 | ||
Appreciation asset position | 449,550 | ||
Appreciation liability position | (492,040) | ||
Fair value market amoount receivable / payable | R$ 42490 | ||
Interest Rate Debentures C D I I P C A Three [Member] | Currency risk [member] | |||
IfrsStatementLineItems [Line Items] | |||
Maturity | 07/15/2037 | ||
Functional Currency | Real | ||
Impact on financial income (expenses) | R$ 25579 | ||
Notional amount | 655,382 | ||
Appreciation asset position | 691,974 | ||
Appreciation liability position | (717,553) | ||
Fair value market amoount receivable / payable | R$ 25579 | ||
Interest Rate Debentures C D I I P C A Four [Member] | Currency risk [member] | |||
IfrsStatementLineItems [Line Items] | |||
Maturity | 02/16/2032 | ||
Functional Currency | Real | ||
Impact on financial income (expenses) | R$ 24089 | ||
Notional amount | 600,000 | ||
Appreciation asset position | 657,792 | ||
Appreciation liability position | (666,223) | ||
Fair value market amoount receivable / payable | R$ 8431 | ||
Interest Rate Debentures C D I I P C A Five [Member] | Currency risk [member] | |||
IfrsStatementLineItems [Line Items] | |||
Maturity | 12/2/2032 | ||
Functional Currency | Real | ||
Impact on financial income (expenses) | R$ 79130 | ||
Notional amount | 600,000 | ||
Appreciation asset position | 658,086 | ||
Appreciation liability position | (666,351) | ||
Fair value market amoount receivable / payable | (8,265) | ||
Total Interest Rate Debentures C D I I P C A [Member] | Currency risk [member] | |||
IfrsStatementLineItems [Line Items] | |||
Impact on financial income (expenses) | (257,897) | R$ 34920 | |
Notional amount | 3,600,382 | ||
Appreciation asset position | 3,884,320 | ||
Appreciation liability position | (4,042,299) | ||
Fair value market amoount receivable / payable | R$ 157979 |
FINANCIAL INSTRUMENTS (Detai_15
FINANCIAL INSTRUMENTS (Details 15) - Currency risk [member] - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
IfrsStatementLineItems [Line Items] | |||
Financial income (expenses), net | R$ 48556 | R$ 439 | R$ 115815 |
Liabilities non-current | (227,451) | ||
Total | (227,451) | ||
Exchange Rate Swap Dollar Real [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Financial income (expenses), net | 176,991 | 37,322 | |
Exchange Rate Swap Dollar Euro [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Financial income (expenses), net | 7,119 | (9,070) | |
Exchange Rate Swap G B P Euro [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Financial income (expenses), net | (602) | ||
Exchange Rate Swap C D I Dollar [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Financial income (expenses), net | 43,817 | R$ 9960 | R$ 106143 |
Liabilities non-current | (58,005) | ||
Total | (58,005) | ||
Interest Rate Swap C D I I P C A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Liabilities non-current | (157,979) | ||
Total | (157,979) | ||
Exchange Rate Swap C D I I P C A [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Financial income (expenses), net | R$ 257897 |
FINANCIAL INSTRUMENTS (Detai_16
FINANCIAL INSTRUMENTS (Details 16) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 BRL (R$) Number shares | Dec. 31, 2021 BRL (R$) Number shares | Dec. 31, 2020 BRL (R$) | |
IfrsStatementLineItems [Line Items] | |||
Closing Balance | R$ 1184895 | R$ 2383059 | |
Fair value adjustment recognized in profit or loss | R$ 1198164 | R$ 385297 | R$ 1190489 |
Ordinary Shares One [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Quantity (in shares) | shares | 106,620,851 | 106,620,851 | |
Equity interest (%) | 15.12% | 15.12% | |
Share price | Number | 7.41 | 14.51 | |
Closing Balance | R$ 790061 | R$ 1547069 | |
Fair value adjustment recognized in profit or loss | R$ 757008 | R$ 121593 | 623,652 |
Preference shares [member] | |||
IfrsStatementLineItems [Line Items] | |||
Quantity (in shares) | shares | 55,144,456 | 55,144,456 | |
Equity interest (%) | 10.07% | 10.07% | |
Share price | Number | 7.16 | 15.16 | |
Closing Balance | R$ 394834 | R$ 835990 | |
Fair value adjustment recognized in profit or loss | R$ 441156 | R$ 506890 | 566,837 |
Preference Sharesone [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Quantity (in shares) | shares | 2,705,726 | 2,705,726 | |
Equity interest (%) | 11.31% | 11.31% | |
Share price | Number | 35 | 70.34 | |
Closing Balance | R$ 94700 | R$ 190321 | |
Fair value adjustment recognized in profit or loss | (95,620) | 109,254 | 12,579 |
Total Shares [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Closing Balance | 1,279,595 | 2,573,380 | |
Fair value adjustment recognized in profit or loss | R$ 1293784 | R$ 494551 | R$ 1203068 |
FINANCIAL INSTRUMENTS (Detai_17
FINANCIAL INSTRUMENTS (Details 17) R$ in Thousands | 12 Months Ended |
Dec. 31, 2022 BRL (R$) | |
Ordinary Shares One [Member] | Probable Scenario [Member] | |
IfrsStatementLineItems [Line Items] | |
Sensitivity analysis for stock price risks | R$ 39503 |
Ordinary Shares One [Member] | Scenario I I Three [Member] | |
IfrsStatementLineItems [Line Items] | |
Sensitivity analysis for stock price risks | (197,515) |
Ordinary Shares One [Member] | Scenario I I Two [Member] | |
IfrsStatementLineItems [Line Items] | |
Sensitivity analysis for stock price risks | (395,030) |
Preference Sharesone [Member] | Probable Scenario [Member] | |
IfrsStatementLineItems [Line Items] | |
Sensitivity analysis for stock price risks | (19,742) |
Preference Sharesone [Member] | Scenario I I Three [Member] | |
IfrsStatementLineItems [Line Items] | |
Sensitivity analysis for stock price risks | (98,709) |
Preference Sharesone [Member] | Scenario I I Two [Member] | |
IfrsStatementLineItems [Line Items] | |
Sensitivity analysis for stock price risks | (197,417) |
Preference Shares Two [Member] | Probable Scenario [Member] | |
IfrsStatementLineItems [Line Items] | |
Sensitivity analysis for stock price risks | (4,735) |
Preference Shares Two [Member] | Scenario I I Three [Member] | |
IfrsStatementLineItems [Line Items] | |
Sensitivity analysis for stock price risks | (23,675) |
Preference Shares Two [Member] | Scenario I I Two [Member] | |
IfrsStatementLineItems [Line Items] | |
Sensitivity analysis for stock price risks | R$ 47350 |
FINANCIAL INSTRUMENTS (Detai_18
FINANCIAL INSTRUMENTS (Details 18) - BRL (R$) R$ / shares in Units, R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
IfrsStatementLineItems [Line Items] | ||||
Shareholder's equity (equity) | R$ 21816044 | R$ 23374389 | R$ 11251505 | R$ 11361932 |
Capital Management [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Shareholder's equity (equity) | 21,907,929 | 23,374,389 | ||
Borrowings and Financing (Third-party capital) | R$ 40918742 | R$ 32507522 | ||
Gross Debit/Shareholder's equity | R$ 1.87 | R$ 1.39 |
FINANCIAL INSTRUMENTS (Detai_19
FINANCIAL INSTRUMENTS (Details Narrative) R$ in Thousands | Dec. 31, 2022 BRL (R$) | Dec. 31, 2021 BRL (R$) | Dec. 31, 2020 BRL (R$) |
IfrsStatementLineItems [Line Items] | |||
Net investment | R$ 6293 | R$ 6293 | |
Borrowings | R$ 40918742 | R$ 32507522 | R$ 35270653 |
Currency risk [member] | |||
IfrsStatementLineItems [Line Items] | |||
Stock price | 5% | ||
Scenario 1 [member] | Currency risk [member] | |||
IfrsStatementLineItems [Line Items] | |||
Percentage of scenarios | 25 | ||
Scenario I I [Member] | Currency risk [member] | |||
IfrsStatementLineItems [Line Items] | |||
Percentage of scenarios | 50 | ||
C S N Cimentos [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Borrowings | R$ 115000 |
LEASE LIABILITIES (Details)
LEASE LIABILITIES (Details) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Lease liabilities [abstract] | |||
Leases | R$ 1916636 | R$ 1790193 | |
Present value adjustment - Leases | (1,222,790) | (1,178,642) | |
Leases | 693,846 | 611,551 | R$ 530131 |
Current | 177,010 | 119,047 | |
Non-current | R$ 516836 | R$ 492504 |
LEASE LIABILITIES (Details 1)
LEASE LIABILITIES (Details 1) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Lease liabilities [abstract] | ||
Opening balance | R$ 611551 | R$ 530131 |
New leases | 29,633 | 69,379 |
Present Value Adjustments - New leases | (3,300) | (7,273) |
Contract review | 99,419 | 109,860 |
Write-off | (781) | (38,626) |
Payments | (155,995) | (114,303) |
Interest appropriated | 69,510 | 62,470 |
Acquisition of companies | 45,352 | |
Exchange variation | (1,543) | (87) |
Net balance | R$ 693846 | R$ 611551 |
LEASE LIABILITIES (Details 2)
LEASE LIABILITIES (Details 2) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
IfrsStatementLineItems [Line Items] | |||
Leases | R$ 1916636 | R$ 1790193 | |
Present value adjustment - Leases | (1,222,790) | (1,178,642) | |
Total lease liabilities | 693,846 | R$ 611551 | R$ 530131 |
Not Later Than One 1 Year [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Leases | 183,928 | ||
Present value adjustment - Leases | (6,918) | ||
Total lease liabilities | 177,010 | ||
Later than one year and not later than five years [member] | |||
IfrsStatementLineItems [Line Items] | |||
Leases | 419,882 | ||
Present value adjustment - Leases | (124,826) | ||
Total lease liabilities | 295,056 | ||
Later than five years [member] | |||
IfrsStatementLineItems [Line Items] | |||
Leases | 1,312,826 | ||
Present value adjustment - Leases | (1,091,046) | ||
Total lease liabilities | R$ 221780 |
LEASE LIABILITIES (Details 3)
LEASE LIABILITIES (Details 3) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Lease liabilities [abstract] | ||
Leases | R$ 1835101 | R$ 1777209 |
Present value adjustment - Leases | (1,221,378) | (1,177,668) |
Potencial PIS and COFINS credit | 169,747 | 164,392 |
Present value adjustment – Potential PIS and COFINS credit | R$ 112977 | R$ 108934 |
LEASE LIABILITIES (Details 4)
LEASE LIABILITIES (Details 4) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Lease liabilities [abstract] | |||
Contract less than 12 months | R$ 995 | R$ 339 | R$ 549 |
Lower Assets value | 5,859 | 4,975 | 9,563 |
Variable lease payments | 325,913 | 498,529 | 270,449 |
Total | R$ 332767 | R$ 503843 | R$ 280561 |
LEASE LIABILITIES (Details Narr
LEASE LIABILITIES (Details Narrative) | 12 Months Ended |
Dec. 31, 2022 | |
Bottom of range [member] | Operational Facilities [Member] | |
IfrsStatementLineItems [Line Items] | |
Lease agreement remaining term | 1 year |
Top of range [member] | Operational Facilities [Member] | |
IfrsStatementLineItems [Line Items] | |
Lease agreement remaining term | 13 years |
Two Year Arrangement [Member] | |
IfrsStatementLineItems [Line Items] | |
Average increment rate | 14% |
Five Year Arrangement [Member] | |
IfrsStatementLineItems [Line Items] | |
Average increment rate | 18.02% |
TRADE PAYABLES (Details)
TRADE PAYABLES (Details) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
IfrsStatementLineItems [Line Items] | ||
Trade payables | R$ 6723077 | R$ 6657702 |
(-) Adjustment present value | (79,893) | (112,078) |
Trade payable, net | 6,643,184 | 6,545,624 |
Current Trade Payables [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Non current | 6,596,915 | 6,446,999 |
Non Current Trade Payables [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Non current | R$ 46269 | R$ 98625 |
TRADE PAYABLES (Details Narrati
TRADE PAYABLES (Details Narrative) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Trade Payables | ||
Trade payables | R$ 5709069 | R$ 4439967 |
OTHER PAYABLES (Details)
OTHER PAYABLES (Details) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | |||
Other payables, current | R$ 1878203 | R$ 1117034 | |
Other payables, noncurrent | 2,216,418 | 1,948,164 | |
Total other current payables | 9,318,651 | 8,904,654 | |
Total other non current payables | 2,216,418 | 1,948,164 | |
Payables To Related Parties [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Other payables, current | 109,087 | 50,624 | |
Other payables, noncurrent | 53,356 | 66,607 | |
Derivative Financial Instruments [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Other payables, current | 416,935 | ||
Other payables, noncurrent | 69,472 | 101,822 | |
Dividends And Interest On Capital Payable [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Other payables, current | 611,307 | 1,206,870 | |
Advances From Customers [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Other payables, current | [1] | 1,120,072 | 2,140,783 |
Other payables, noncurrent | [1] | 943,919 | 947,896 |
Taxes In Installments [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Other payables, current | 280,721 | 51,999 | |
Other payables, noncurrent | 184,106 | 152,420 | |
Profit Sharing Employees [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Other payables, current | 266,705 | 223,885 | |
Taxes Payable [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Other payables, noncurrent | 10,925 | 10,378 | |
Provision From Consumption And Services [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Other payables, current | 241,965 | 216,692 | |
Third Party Materials In Our Possession [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Other payables, current | 303,858 | 418,084 | |
Trade Payables Drawee Risk [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Other payables, current | 5,709,069 | 4,439,967 | |
Trade Payables [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Other payables, noncurrent | 46,269 | 98,625 | |
Lease liabilities [member] | |||
IfrsStatementLineItems [Line Items] | |||
Other payables, current | 177,010 | 119,047 | |
Other payables, noncurrent | 516,836 | 492,504 | |
Other Payables [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Other payables, current | 81,922 | 36,703 | |
Other payables, noncurrent | R$ 391535 | R$ 77912 | |
[1] Advances from Customers |
INCOME TAX AND SOCIAL CONTRIB_3
INCOME TAX AND SOCIAL CONTRIBUTION (Details) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Income tax and social contribution income (expense) | |||
Current | R$ 1537966 | R$ 4240802 | R$ 2052204 |
Deferred | (420,773) | (759,355) | 1,426,696 |
Total | R$ 1958739 | R$ 5000157 | R$ 625508 |
INCOME TAX AND SOCIAL CONTRIB_4
INCOME TAX AND SOCIAL CONTRIBUTION (Details 1) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
IfrsStatementLineItems [Line Items] | ||||
Profit/(Loss) before income tax and social contribution | R$ 4126437 | R$ 18595778 | R$ 4918126 | |
Applicable tax rate | 34% | 34% | 34% | |
Income tax and social contribution at combined statutory rate | R$ 1402989 | R$ 6322565 | R$ 1672163 | |
Income tax and social contribution | R$ 1958739 | R$ 5000157 | R$ 625508 | |
Tax rate effect of tax losses | 47% | 27% | 13% | |
Equity In Results Of Affiliated Companies [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Adjustment to reflect the effective rate | R$ 155125 | R$ 71833 | R$ 28391 | |
Profit With Differentiated Rates Or Untaxed [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Adjustment to reflect the effective rate | (338,278) | (437,567) | (519,840) | |
Transfer Pricing Adjustment [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Adjustment to reflect the effective rate | (195,112) | (55,821) | (15,645) | |
Tax Loss Carryforwards Without Recognizing Deferred Taxes [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Adjustment to reflect the effective rate | (27,758) | |||
Limit Of Indebtedness [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Adjustment to reflect the effective rate | (25,087) | |||
Unrecorded Deferred Taxes On Temporary Differences [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Adjustment to reflect the effective rate | 5,142 | |||
Income Tax And Social Contribution On Foreign Profit [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Adjustment to reflect the effective rate | (13,011) | |||
Tax Incentives [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Adjustment to reflect the effective rate | 50,333 | 273,040 | 64,818 | |
Interest On Equity [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Adjustment to reflect the effective rate | 290,968 | 185,325 | 17,177 | |
Recognition Of Tax Credits [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Adjustment to reflect the effective rate | (562,014) | 1,027,252 | 1,540,087 | |
Other Permanent Deductions Additions [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Adjustment to reflect the effective rate | [1] | R$ 43228 | R$ 258346 | R$ 7619 |
[1]In 2021 the Company recognized a credit for the unconstitutionality of the levy of IRPJ and CSLL on amounts referring to the SELIC rate received due to the repetition of undue tax payment. |
INCOME TAX AND SOCIAL CONTRIB_5
INCOME TAX AND SOCIAL CONTRIBUTION (Details 2) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
IfrsStatementLineItems [Line Items] | ||||
Total deferred | R$ 4878768 | R$ 4569011 | R$ 3256110 | R$ 1883765 |
Total deferred assets | 5,095,718 | 5,072,092 | 3,874,946 | |
Total Deferred Liabilities | (216,950) | (503,081) | (618,836) | |
Deferred Income Tax Losses [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Total deferred | 2,679,028 | 1,537,623 | 1,848,999 | |
Deferred Social Contribution Tax Losses [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Total deferred | 894,183 | 583,845 | 688,208 | |
Temporary Differences [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Total deferred | 1,305,557 | 2,447,543 | 718,903 | |
Tax Social Security Labor Civil And Environmental Risks [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Total deferred | 584,834 | 265,328 | 279,149 | |
Estimated Losses On Assets [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Total deferred | 369,826 | 283,266 | 161,016 | |
Gains Losses On Financial Assets [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Total deferred | 468,813 | 6,484 | 5,027 | |
Actuarial Liability Pension And Healthcare Plan [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Total deferred | 226,875 | 210,009 | 262,457 | |
Provision For Consumption And Services [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Total deferred | 205,880 | 163,620 | 154,452 | |
Cash Flow Hedge Accounting [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Total deferred | 1,459,012 | 2,985,859 | 4,487,710 | |
Gain Loss Of Control In Transnordestina [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Total deferred | (224,096) | (92,180) | (92,180) | |
Fair Value S W T C B L Acquisition [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Total deferred | (149,489) | (178,160) | (212,015) | |
Business Combination [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Total deferred | (1,632,370) | (1,338,674) | (1,015,049) | |
Others [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Total deferred | R$ 3728 | R$ 141991 | R$ 53685 |
INCOME TAX AND SOCIAL CONTRIB_6
INCOME TAX AND SOCIAL CONTRIBUTION (Details 3) R$ in Thousands | Dec. 31, 2022 BRL (R$) |
IfrsStatementLineItems [Line Items] | |
Deferred Asset | R$ 6058723 |
Deferred liabilities - Parent Company | (963,005) |
Net Deferred Asset | 5,095,718 |
Deferred liabilities - Subsidiaries | (216,950) |
Net Deferred Asset | 4,878,768 |
Later Than Three Year [Member] | |
IfrsStatementLineItems [Line Items] | |
Deferred Asset | 825,267 |
Later Than Four Year [Member] | |
IfrsStatementLineItems [Line Items] | |
Deferred Asset | 704,944 |
Later Than Five Year [Member] | |
IfrsStatementLineItems [Line Items] | |
Deferred Asset | 601,980 |
Later Than Six Year [Member] | |
IfrsStatementLineItems [Line Items] | |
Deferred Asset | 722,660 |
Later Than Seven Year [Member] | |
IfrsStatementLineItems [Line Items] | |
Deferred Asset | R$ 3203872 |
INCOME TAX AND SOCIAL CONTRIB_7
INCOME TAX AND SOCIAL CONTRIBUTION (Details 4) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Income Tax And Social Contribution | |||
Deferred taxes, beginning | R$ 4569011 | R$ 3256110 | R$ 1883765 |
Deferred tax recognized in the result | (420,773) | (759,355) | 1,426,696 |
Deferred tax recognized in other comprehensive income | (322,876) | 2,073,437 | (59,380) |
Deferred tax acquisition of companies | 1,053,406 | (1,181) | 5,029 |
Deferred taxes, ending | R$ 4878768 | R$ 4569011 | R$ 3256110 |
INCOME TAX AND SOCIAL CONTRIB_8
INCOME TAX AND SOCIAL CONTRIBUTION (Details 5) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Income Tax And Social Contribution | ||
Actuarial gains on defined benefit pension plan | R$ 100139 | R$ 104533 |
Exchange differences on translating foreign operations | (325,350) | (325,350) |
Cash flow hedge accounting | 1,571,953 | 1,959,556 |
Total | R$ 2693484 | R$ 1738739 |
INCOME TAX AND SOCIAL CONTRIB_9
INCOME TAX AND SOCIAL CONTRIBUTION (Details Narrative) R$ in Thousands | 12 Months Ended |
Dec. 31, 2022 BRL (R$) | |
Income Tax And Social Contribution | |
Profit generated by foreign subsidiaries | R$ 471514 |
Income tax and social contribution | R$ 160315 |
TAXES IN INSTALLMENTS (Details)
TAXES IN INSTALLMENTS (Details) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
IfrsStatementLineItems [Line Items] | ||
Unclassified consolidates taxes in installments | R$ 464827 | R$ 204419 |
Federal REFIS debts and other tax installment payment plans, current | 280,721 | 51,999 |
Federal REFIS debts and other tax installment payment plans, noncurrent | 184,106 | 152,420 |
Federal Refis Law 1 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Unclassified consolidates taxes in installments | 17,585 | 18,499 |
Federal Refis Law 2 [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Unclassified consolidates taxes in installments | 39,522 | 43,352 |
Other Taxes In Installments [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Unclassified consolidates taxes in installments | R$ 407720 | R$ 142568 |
PROVISIONS FOR TAX, SOCIAL SE_3
PROVISIONS FOR TAX, SOCIAL SECURITY, LABOR, CIVIL AND ENVIRONMENTAL RISKS AND JUDICIAL DEPOSITS (Details) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
IfrsStatementLineItems [Line Items] | ||
Accrued liabilities | R$ 1484825 | R$ 574352 |
Judicial deposits | 533,664 | 339,805 |
Accrued liabilities current | 73,089 | 66,047 |
Accrued liabilities non current | 1,411,736 | 508,305 |
Judicial deposits non current | 533,664 | 339,805 |
Tax [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Accrued liabilities | 219,196 | 111,572 |
Judicial deposits | 184,687 | 78,260 |
Social Security [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Accrued liabilities | 1,567 | 1,270 |
Labor [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Accrued liabilities | 375,416 | 304,744 |
Judicial deposits | 297,507 | 218,200 |
Civil [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Accrued liabilities | 851,305 | 139,824 |
Judicial deposits | 25,502 | 17,869 |
Environmental [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Accrued liabilities | 37,341 | 16,942 |
Judicial deposits | 2,859 | 2,739 |
Deposit Of A Guarantee [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Judicial deposits | R$ 23109 | R$ 22737 |
PROVISIONS FOR TAX, SOCIAL SE_4
PROVISIONS FOR TAX, SOCIAL SECURITY, LABOR, CIVIL AND ENVIRONMENTAL RISKS AND JUDICIAL DEPOSITS (Details 1) R$ in Thousands | 12 Months Ended |
Dec. 31, 2022 BRL (R$) | |
IfrsStatementLineItems [Line Items] | |
Accrued liabilities, ending | R$ 574352 |
Additions | 161,380 |
Accrued charges | 69,992 |
Consolidation of companies | 821,856 |
Net utilization of reversal | (142,755) |
Accrued liabilities, ending | 1,484,825 |
Tax [Member] | |
IfrsStatementLineItems [Line Items] | |
Accrued liabilities, ending | 111,572 |
Additions | 74,097 |
Accrued charges | 10,595 |
Consolidation of companies | 30,035 |
Net utilization of reversal | (7,103) |
Accrued liabilities, ending | 219,196 |
Social Security [Member] | |
IfrsStatementLineItems [Line Items] | |
Accrued liabilities, ending | 1,270 |
Additions | 1,093 |
Accrued charges | 19 |
Net utilization of reversal | (815) |
Accrued liabilities, ending | 1,567 |
Labor [Member] | |
IfrsStatementLineItems [Line Items] | |
Accrued liabilities, ending | 304,744 |
Additions | 36,203 |
Accrued charges | 36,852 |
Consolidation of companies | 89,101 |
Net utilization of reversal | (91,484) |
Accrued liabilities, ending | 375,416 |
Civil [Member] | |
IfrsStatementLineItems [Line Items] | |
Accrued liabilities, ending | 139,824 |
Additions | 27,668 |
Accrued charges | 21,406 |
Consolidation of companies | 702,720 |
Net utilization of reversal | (40,313) |
Accrued liabilities, ending | 851,305 |
Environmental [Member] | |
IfrsStatementLineItems [Line Items] | |
Accrued liabilities, ending | 16,942 |
Additions | 22,319 |
Accrued charges | 1,120 |
Net utilization of reversal | (3,040) |
Accrued liabilities, ending | R$ 37341 |
PROVISIONS FOR TAX, SOCIAL SE_5
PROVISIONS FOR TAX, SOCIAL SECURITY, LABOR, CIVIL AND ENVIRONMENTAL RISKS AND JUDICIAL DEPOSITS (Details 2) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | |||
Legal matters with possible risk of loss | R$ 47688078 | R$ 40794950 | |
Main Legal Matter 1 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Legal matters with possible risk of loss | 14,174,838 | 13,015,938 | |
Main Legal Matter 2 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Legal matters with possible risk of loss | 4,920,177 | 4,242,051 | |
Main Legal Matter 3 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Legal matters with possible risk of loss | 2,388,423 | 2,017,602 | |
Main Legal Matter 4 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Legal matters with possible risk of loss | 4,104,626 | 4,137,519 | |
Main Legal Matter 5 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Legal matters with possible risk of loss | [1] | 715,152 | |
Main Legal Matter 6 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Legal matters with possible risk of loss | 950,469 | 867,521 | |
Main Legal Matter 7 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Legal matters with possible risk of loss | 2,138,608 | 1,660,888 | |
Main Legal Matter 8 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Legal matters with possible risk of loss | 666,816 | 614,528 | |
Main Legal Matter 9 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Legal matters with possible risk of loss | 357,006 | 326,361 | |
Main Legal Matter 10 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Legal matters with possible risk of loss | 663,594 | 600,895 | |
Main Legal Matter 11 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Legal matters with possible risk of loss | 289,406 | 266,649 | |
Main Legal Matter 12 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Legal matters with possible risk of loss | 1,143,275 | 1,079,951 | |
Main Legal Matter 13 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Legal matters with possible risk of loss | 1,255,251 | 1,142,386 | |
Main Legal Matter 14 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Legal matters with possible risk of loss | [1] | 5,579,232 | 3,877,976 |
Main Legal Matter 15 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Legal matters with possible risk of loss | 986,196 | 889,179 | |
Main Legal Matter 16 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Legal matters with possible risk of loss | 623,748 | 562,307 | |
Main Legal Matter 17 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Legal matters with possible risk of loss | 1,238,018 | 1,116,228 | |
Main Legal Matter 18 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Legal matters with possible risk of loss | 187,338 | 214,323 | |
Main Legal Matter 19 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Legal matters with possible risk of loss | 560,638 | 507,719 | |
Main Legal Matter 21 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Legal matters with possible risk of loss | 386,834 | 324,371 | |
Main Legal Matter 22 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Legal matters with possible risk of loss | [1] | 193,469 | |
Main Legal Matter 23 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Legal matters with possible risk of loss | 192,212 | ||
Main Legal Matter 24 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Legal matters with possible risk of loss | 109,206 | 98,740 | |
Main Legal Matter 25 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Legal matters with possible risk of loss | 14,876 | ||
Main Legal Matter 26 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Legal matters with possible risk of loss | [1] | 1,168,591 | 845,043 |
Main Legal Matter 27 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Legal matters with possible risk of loss | [1] | 1,726,517 | 1,536,967 |
Main Legal Matter 28 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Legal matters with possible risk of loss | 122,639 | 104,400 | |
Main Legal Matter 29 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Legal matters with possible risk of loss | 306,389 | 306,389 | |
Main Legal Matter 30 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Legal matters with possible risk of loss | [1] | R$ 539410 | R$ 424143 |
[1]After the acquisitions of CSN Cimentos Brasil (formerly LafargeHolcim (Brasil) S.A.), Companhia Estadual de Geração de Energia Elétrica (CEEE-G), Companhia Energética Chapecó and Metalgráfica Iguaçu S.A. these line items were impacted by the existing legal cases of each entity. |
PROVISIONS FOR TAX, SOCIAL SE_6
PROVISIONS FOR TAX, SOCIAL SECURITY, LABOR, CIVIL AND ENVIRONMENTAL RISKS AND JUDICIAL DEPOSITS (Details Narrative) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | ||
Updated amount | R$ 4939419 | R$ 4732009 |
C S N Cimentos Brasil S A [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Shares acquired | 511,948 | |
Companhia Estadualde Geracaode Energia Eletrica [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Shares acquired | 321,028 |
PROVISION FOR ENVIRONMENTAL L_3
PROVISION FOR ENVIRONMENTAL LIABILITIES AND ASSET RETIREMENT OBLIGATIONS (Details) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
IfrsStatementLineItems [Line Items] | ||
Provision for environmental liabilities and decommissioning of assets | R$ 937657 | R$ 898597 |
Environmental Liabilities [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Provision for environmental liabilities and decommissioning of assets | 172,574 | 173,647 |
Asset Retirement Obligations [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Provision for environmental liabilities and decommissioning of assets | R$ 765083 | R$ 724950 |
RELATED-PARTY BALANCES AND TR_3
RELATED-PARTY BALANCES AND TRANSACTIONS (Details) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | |||
Non-current | R$ 54741999 | R$ 44406749 | |
Current | 22,475,119 | 24,541,616 | |
Non-current | 41,063,196 | 31,463,098 | |
Loans [member] | |||
IfrsStatementLineItems [Line Items] | |||
Non-current | [1] | 1,384,773 | 1,143,228 |
Other related parties [member] | |||
IfrsStatementLineItems [Line Items] | |||
Current | 1,830,459 | 2,731,368 | |
Non-current | 175,987 | 191,634 | |
TOTAL ASSETS | 2,006,446 | 2,923,002 | |
Current | 61,582 | 14,712 | |
Total liabilities | 61,582 | 14,712 | |
Other related parties [member] | Trade Payables [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Current | 37,448 | 14,712 | |
Other related parties [member] | Accounts Payables [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Current | 24,134 | ||
Other related parties [member] | FinancialInvestmentsMember | |||
IfrsStatementLineItems [Line Items] | |||
Current | [2] | 1,768,915 | 2,579,990 |
Non-current | [2] | 140,510 | 132,523 |
Other related parties [member] | Trade receivables [member] | |||
IfrsStatementLineItems [Line Items] | |||
Current | [3] | 59,716 | 134,570 |
Other related parties [member] | Dividends Receivable [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Current | [4] | 14,980 | |
Other related parties [member] | Other Receivables [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Current | 1,828 | 1,828 | |
Other related parties [member] | Actuarial Asset [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Non-current | 35,477 | 59,111 | |
Related parties [member] | |||
IfrsStatementLineItems [Line Items] | |||
Current | 1,962,667 | 2,807,603 | |
Non-current | 3,045,519 | 2,261,939 | |
TOTAL ASSETS | 5,008,186 | 5,069,542 | |
Current | 239,650 | 128,087 | |
Non-current | 53,356 | 66,606 | |
Total liabilities | 293,006 | 194,693 | |
Related parties [member] | Trade Payables [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Current | 130,563 | 77,463 | |
Related parties [member] | Accounts Payables [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Current | 47,689 | 28,442 | |
Non-current | 53,356 | 66,606 | |
Related parties [member] | Provision For Consumption [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Current | 61,398 | 22,182 | |
Related parties [member] | FinancialInvestmentsMember | |||
IfrsStatementLineItems [Line Items] | |||
Current | [2] | 1,768,915 | 2,579,990 |
Non-current | [2] | 140,510 | 132,523 |
Related parties [member] | Trade receivables [member] | |||
IfrsStatementLineItems [Line Items] | |||
Current | [3] | 109,134 | 144,396 |
Related parties [member] | Dividends Receivable [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Current | [4] | 77,377 | 76,878 |
Related parties [member] | Loans [member] | |||
IfrsStatementLineItems [Line Items] | |||
Current | [1] | 5,383 | 4,511 |
Related parties [member] | Other Receivables [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Current | 1,858 | 1,828 | |
Non-current | [5] | 1,484,759 | 927,077 |
Related parties [member] | Actuarial Asset [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Non-current | 35,477 | 59,111 | |
Subsidiaries Joint Ventures Associates Exclusive Funds And Other Related Partie [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Current | 48,266 | 8,159 | |
Non-current | 3,678 | 3,626 | |
TOTAL ASSETS | 51,944 | 11,785 | |
Current | 21 | ||
Total liabilities | 21 | ||
Subsidiaries Joint Ventures Associates Exclusive Funds And Other Related Partie [Member] | Trade Payables [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Current | 21 | ||
Subsidiaries Joint Ventures Associates Exclusive Funds And Other Related Partie [Member] | Trade receivables [member] | |||
IfrsStatementLineItems [Line Items] | |||
Current | [3] | 48,236 | 8,159 |
Subsidiaries Joint Ventures Associates Exclusive Funds And Other Related Partie [Member] | Loans [member] | |||
IfrsStatementLineItems [Line Items] | |||
Non-current | [1] | 3,678 | 3,626 |
Subsidiaries Joint Ventures Associates Exclusive Funds And Other Related Partie [Member] | Other Receivables [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Current | 30 | ||
Joint-ventures e joint operation [member] | |||
IfrsStatementLineItems [Line Items] | |||
Current | 83,942 | 68,076 | |
Non-current | 2,865,854 | 2,066,679 | |
TOTAL ASSETS | 2,949,796 | 2,134,755 | |
Current | 178,068 | 113,354 | |
Non-current | 53,356 | 66,606 | |
Total liabilities | 231,424 | 179,960 | |
Joint-ventures e joint operation [member] | Trade Payables [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Current | 93,115 | 62,730 | |
Joint-ventures e joint operation [member] | Accounts Payables [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Current | 23,555 | 28,442 | |
Non-current | 53,356 | 66,606 | |
Joint-ventures e joint operation [member] | Provision For Consumption [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Current | 61,398 | 22,182 | |
Joint-ventures e joint operation [member] | Trade receivables [member] | |||
IfrsStatementLineItems [Line Items] | |||
Current | [3] | 1,182 | 1,667 |
Joint-ventures e joint operation [member] | Dividends Receivable [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Current | [4] | 77,377 | 61,898 |
Joint-ventures e joint operation [member] | Loans [member] | |||
IfrsStatementLineItems [Line Items] | |||
Current | [1] | 5,383 | 4,511 |
Non-current | [1] | 1,381,095 | 1,139,602 |
Joint-ventures e joint operation [member] | Other Receivables [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Non-current | [5] | R$ 1484759 | R$ 927077 |
[1] Long term 1,384,773 1,123,375 125.0 130.0 Financial investments: Accounts receivables: Dividends receivable 59,469 320,945 14,785 56,344 Others (Assets): 1,484,759 927,076 |
RELATED-PARTY BALANCES AND TR_4
RELATED-PARTY BALANCES AND TRANSACTIONS (Details 1) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
IfrsStatementLineItems [Line Items] | ||||
Sales | R$ 2711660 | R$ 3521245 | ||
Cost and expenses | (1,754,370) | (1,394,305) | ||
Interest | 174,183 | 81,790 | ||
Exchange rate variations and monetary, net | (13,584) | |||
Financial investments | [1] | (1,198,164) | 94,866 | |
Net income for the year | 2,167,698 | 13,595,621 | R$ 4292618 | |
C S N Mineracao S A [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Dividends receivable | 59,469 | 320,945 | ||
Mineracao Nacional S A [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Dividends receivable | 14,785 | 56,344 | ||
Transnordestina Logistica [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Loan receivable | 1,384,773 | 1,123,375 | ||
Others assets | R$ 1484759 | 927,076 | ||
Transnordestina Logistica [Member] | Bottom of range [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Average rate | 125% | |||
Transnordestina Logistica [Member] | Top of range [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Average rate | 130% | |||
Subsidiaries Joint Ventures Associates Exclusive Funds And Other Related Partie [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Sales | R$ 234150 | 274,978 | ||
Cost and expenses | (66) | (1,065) | ||
Interest | 251 | |||
Net income for the year | 234,084 | 274,164 | ||
Joint-ventures e joint operation [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Sales | 34,924 | 2,250 | ||
Cost and expenses | (1,538,194) | (1,273,740) | ||
Interest | 144,355 | 49,293 | ||
Net income for the year | (1,358,915) | (1,222,197) | ||
Other related parties [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Sales | 2,442,586 | 3,244,017 | ||
Cost and expenses | (216,110) | (119,500) | ||
Interest | 29,828 | 32,246 | ||
Exchange rate variations and monetary, net | (13,584) | |||
Financial investments | [1] | (1,198,164) | 94,866 | |
Net income for the year | 1,044,556 | 3,251,629 | ||
Related parties [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Net income for the year | R$ 80275 | R$ 2303596 | ||
[1] Financial investments: |
RELATED-PARTY BALANCES AND TR_5
RELATED-PARTY BALANCES AND TRANSACTIONS (Details 2) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Related-party Balances And Transactions | |||
Short-term benefits for employees and officers | R$ 52001 | R$ 46747 | R$ 40522 |
Post-employment benefits | 266 | 192 | 111 |
Key management personnel compensation | R$ 52267 | R$ 46939 | R$ 40633 |
RELATED-PARTY BALANCES AND TR_6
RELATED-PARTY BALANCES AND TRANSACTIONS (Details 3) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | ||
Borrowings | R$ 16505166 | R$ 18680356 |
Tax foreclosure | 9,562 | 12,824 |
Others | 402,796 | 485,933 |
Total | 16,917,524 | 24,893,406 |
Guarantees [member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings | 13,867,929 | 15,346,375 |
Others | 396,780 | 479,795 |
Total | 14,264,709 | 21,540,463 |
Local Currency [Member] | Guarantees [member] | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings | 2,637,237 | 3,333,981 |
Tax foreclosure | 9,562 | 12,824 |
Others | 6,016 | 6,138 |
Total | R$ 2652815 | 3,352,943 |
Local Currency [Member] | Guarantees [member] | Transnordestina Logistica S A [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Maturities | Up to 09/19/2056 and Indefinite | |
Borrowings | R$ 2096291 | 2,486,926 |
Tax foreclosure | 9,365 | 12,627 |
Others | 3,853 | 3,384 |
Total | R$ 2109509 | 2,502,937 |
Local Currency [Member] | Guarantees [member] | Controladas Do Grupo [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Maturities | Up to 12/21/2024 and indefinite | |
Borrowings | 771 | |
Tax foreclosure | R$ 197 | 197 |
Others | 2,163 | 2,754 |
Total | R$ 2360 | 3,722 |
Local Currency [Member] | Guarantees [member] | C S N Mineracao [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Maturities | Up to 12/21/2024 | |
Borrowings | R$ 540946 | 846,284 |
Total | 540,946 | 846,284 |
Foreign Currency [Member] | Guarantees [member] | United States of America, Dollars | ||
IfrsStatementLineItems [Line Items] | ||
Borrowings | 2,565,000 | 2,750,000 |
Others | 1,025,000 | |
Total | 2,565,000 | 3,775,000 |
Foreign Currency [Member] | Guarantees [member] | Euro Member Countries, Euro | ||
IfrsStatementLineItems [Line Items] | ||
Others | 75,000 | 75,000 |
Total | R$ 75000 | 75,000 |
Foreign Currency [Member] | Guarantees [member] | C S N Inova Ventures [Member] | United States of America, Dollars | ||
IfrsStatementLineItems [Line Items] | ||
Maturities | 01/28/2028 | |
Borrowings | R$ 1300000 | 1,300,000 |
Total | R$ 1300000 | 1,300,000 |
Foreign Currency [Member] | Guarantees [member] | C S N Resources [Member] | United States of America, Dollars | ||
IfrsStatementLineItems [Line Items] | ||
Maturities | Up to 04/17/2026 | |
Borrowings | R$ 1150000 | 1,450,000 |
Total | R$ 1150000 | 1,450,000 |
Foreign Currency [Member] | Guarantees [member] | C S N Cimentos [Member] | United States of America, Dollars | ||
IfrsStatementLineItems [Line Items] | ||
Maturities | Indefinite | |
Borrowings | R$ 115000 | |
Others | 1,025,000 | |
Total | R$ 115000 | 1,025,000 |
Foreign Currency [Member] | Guarantees [member] | Lusosider Acos Planos [Member] | Euro Member Countries, Euro | ||
IfrsStatementLineItems [Line Items] | ||
Maturities | Indefinite | |
Others | R$ 75000 | 75,000 |
Total | R$ 75000 | R$ 75000 |
RELATED-PARTY BALANCES AND TR_7
RELATED-PARTY BALANCES AND TRANSACTIONS (Details Narrative) R$ / shares in Units, R$ in Thousands | 1 Months Ended |
Dec. 23, 2022 BRL (R$) R$ / shares | |
Reserve Quantities [Line Items] | |
Interest rate | 15% |
Price per share | R$ / shares | R$ 0.44868615934 |
Vicunha Acos S A [Member] | |
Reserve Quantities [Line Items] | |
Payment of interest on equity | R$ 304892 |
Rio Laco Participacoes S A [Member] | |
Reserve Quantities [Line Items] | |
Payment of interest on equity | R$ 20508 |
SHAREHOLDERS' EQUITY (Details)
SHAREHOLDERS' EQUITY (Details) - shares | Dec. 31, 2022 | Dec. 31, 2021 | |
Reserve Quantities [Line Items] | |||
Number of common shares outstanding | 1,326,093,947 | 1,387,524,047 | |
Percentage of shares | 100% | 100% | |
Outstanding Shares [Member] | |||
Reserve Quantities [Line Items] | |||
Number of common shares outstanding | 1,326,093,947,000 | 1,341,734,047,000 | |
Percentage of shares | 100% | 96.70% | |
Percentage of voting equity interests acquired | 100% | 100% | |
Treasury shares [member] | |||
Reserve Quantities [Line Items] | |||
Number of common shares outstanding | 45,790,000 | ||
Percentage of shares | 3.30% | ||
Vicunha Acos S A [Member] | |||
Reserve Quantities [Line Items] | |||
Number of common shares outstanding | [1] | 679,522,254,000 | 679,522,254,000 |
Percentage of shares | [1] | 51.24% | 48.97% |
Percentage of voting equity interests acquired | [1] | 51.24% | 50.65% |
Rio Laco Participacoes S A [Member] | |||
Reserve Quantities [Line Items] | |||
Number of common shares outstanding | [1] | 45,706,242,000 | 45,706,242,000 |
Percentage of shares | [1] | 3.45% | 3.29% |
Percentage of voting equity interests acquired | [1] | 3.45% | 3.41% |
Nyse Adrs [Member] | |||
Reserve Quantities [Line Items] | |||
Number of common shares outstanding | 254,520,040 | 250,564,538 | |
Percentage of shares | 19.19% | 18.06% | |
Percentage of voting equity interests acquired | 19.19% | 18.67% | |
Other One [Member] | |||
Reserve Quantities [Line Items] | |||
Number of common shares outstanding | 346,345,411 | 365,941,013 | |
Percentage of shares | 26.12% | 26.38% | |
Percentage of voting equity interests acquired | 26.12% | 27.27% | |
[1]Controlling group companies. |
SHAREHOLDERS' EQUITY (Details 1
SHAREHOLDERS' EQUITY (Details 1) R$ / shares in Units, R$ in Thousands | 12 Months Ended |
Dec. 31, 2022 BRL (R$) R$ / shares shares | |
Buyback Program 9 Number 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Board's Authorization | 04/20/2018 |
Authorized quantity | 30,391,000 |
Program Period | From 4/20/2018 to 4/30/2018 |
Sale of shares | 22,981,500 |
Balance in treasury | 7,409,500 |
Buyback Program 9 Number 2 [Member] | |
IfrsStatementLineItems [Line Items] | |
Board's Authorization | 06/21/2021 |
Authorized quantity | 24,154,500 |
Program Period | From 06/22/2021 to 12/22/2021 |
Balance in treasury | 31,491,500 |
Average buyback price | R$ / shares | R$ 21.82 |
Minimum buyback price | R$ / shares | 20.06 |
Maximum buyback price | R$ / shares | R$ 23.22 |
Number bought back | R$ | R$ 24082000 |
Buyback Program 9 Number 3 [Member] | |
IfrsStatementLineItems [Line Items] | |
Board's Authorization | 6/12/2021 |
Authorized quantity | 30,000,000 |
Program Period | From 12/07/2021 to 6/30/2022 |
Balance in treasury | 61,430,100 |
Average buyback price | R$ / shares | R$ 25.00 |
Minimum buyback price | R$ / shares | 17.20 |
Maximum buyback price | R$ / shares | R$ 26.76 |
Number bought back | R$ | R$ 29938600 |
Buyback Program 9 Number 4 [Member] | |
IfrsStatementLineItems [Line Items] | |
Board's Authorization | 05/18/2022 |
Share cancelation | 61,430,100 |
Buyback Program 9 Number 5 [Member] | |
IfrsStatementLineItems [Line Items] | |
Board's Authorization | 05/18/2022 |
Authorized quantity | 58,000,000 |
Program Period | From 05/19/2022 to 05/18/2023 |
SHAREHOLDERS' EQUITY (Details 2
SHAREHOLDERS' EQUITY (Details 2) - BRL (R$) R$ / shares in Units, R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Shareholders Equity | |||
Profit for the year | R$ 1554060 | R$ 12258628 | R$ 3794295 |
Weighted average number of shares | 1,327,028,614 | 1,376,362,149 | 1,380,114,547 |
Basic and diluted earnings per share | R$ 1.17108 | R$ 8.90654 | R$ 2.74926 |
SHAREHOLDERS_ EQUITY (Details N
SHAREHOLDERS’ EQUITY (Details Narrative) - BRL (R$) R$ in Thousands | 1 Months Ended | 12 Months Ended | |
May 18, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Reserve Quantities [Line Items] | |||
Issued capital | R$ 10240000 | R$ 10240000 | |
Number of shares outstanding | 1,326,093,947 | 1,387,524,047 | |
Number of shares authorised | 2,400,000,000 | ||
Percentage of shares | 100% | 100% | |
Common shares | 61,430,100 | 1,326,093,947 | |
Rio Laco Participacoes 1 S A [Member] | |||
Reserve Quantities [Line Items] | |||
Percentage of shares | 5% | ||
Percentage of shares | 20% |
SHAREHOLDER'S COMPENSATION (Det
SHAREHOLDER'S COMPENSATION (Details) - BRL (R$) R$ / shares in Units, R$ in Thousands | 1 Months Ended | 12 Months Ended | |||
Dec. 23, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
IfrsStatementLineItems [Line Items] | |||||
Profit for the year | R$ 1554060 | R$ 12258628 | R$ 3794295 | ||
Percentual de Reserva de Capital | 5% | ||||
Capital reserve | R$ 77703 | ||||
Interest on equity prescribed | [1] | 789 | |||
Net income after destination | 1,477,146 | ||||
Interest on equity | [2] | 700,000 | |||
Additional dividends proposed to the profit account | [3] | 777,146 | |||
Complementary dividends with Statutory Reserve | [4] | 836,854 | |||
Gross interest on equity | R$ 595000 | ||||
Equity per share | R$ 0.44868615934 | ||||
Proposed dividends | R$ 777146 | ||||
Board of Directors Chairman [Member] | |||||
IfrsStatementLineItems [Line Items] | |||||
Gross interest on equity | R$ 700000 | ||||
Equity per share | R$ 0.52786606981 | ||||
Income tax rate | 15% | ||||
[1]As provided for in the Bylaws, as of December 31, 2022, the Company reversed, to the retained earnings account, the amount of R$ 789 700,000 0.52786606981 15 595,000 0.44868615934 777,146 |
SHAREHOLDER_S COMPENSATION (Det
SHAREHOLDER’S COMPENSATION (Details Narrative) - BRL (R$) R$ / shares in Units, R$ in Thousands | 1 Months Ended | |||
Nov. 21, 2022 | May 20, 2022 | Apr. 29, 2022 | Jul. 27, 2021 | |
IfrsStatementLineItems [Line Items] | ||||
Reserve amount | R$ 452236 | R$ 904472 | ||
Share price | R$ 0.340797152645188 | R$ 0.681594305290377 | ||
Amount of dividends | R$ 2911424 | |||
Director [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Reserve amount | R$ 1564115 | |||
Share price | R$ 1.179490003008100 | |||
Payment of dividend | R$ 1750000 | |||
Interest on equity | R$ 256952 |
NET REVENUE FROM SALES (Details
NET REVENUE FROM SALES (Details) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
IfrsStatementLineItems [Line Items] | |||
Gross revenue | R$ 51034214 | R$ 54814961 | R$ 34049060 |
Sales returns, discounts and rebates | (371,189) | (272,842) | (248,821) |
Taxes on sales | (6,300,905) | (6,630,080) | (3,736,219) |
Deductions | (6,672,094) | (6,902,922) | (3,985,040) |
Net revenues | 44,362,120 | 47,912,039 | 30,064,020 |
Domestic Market [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Gross revenue | 30,343,033 | 29,724,648 | 16,652,801 |
Foreign Market [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Gross revenue | R$ 20691181 | R$ 25090313 | R$ 17396259 |
EXPENSES BY NATURE (Details)
EXPENSES BY NATURE (Details) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
IfrsStatementLineItems [Line Items] | |||
Expense, net | R$ 34303953 | R$ 28796921 | R$ 21633776 |
Cost of sales | (31,054,016) | (25,837,475) | (19,124,901) |
Selling expenses | (2,575,818) | (2,372,298) | (2,004,417) |
General and administrative expenses | (674,119) | (587,148) | (504,458) |
Total | (34,303,953) | (28,796,921) | (21,633,776) |
Raw Materials And Inputs [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Expense, net | (14,572,337) | (10,405,028) | (6,928,517) |
Outsourcing Material [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Expense, net | (3,265,627) | (4,476,702) | |
Labor Cost [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Expense, net | (3,320,234) | (2,746,454) | (3,187,428) |
Supplies [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Expense, net | (3,501,649) | (2,297,069) | (2,150,452) |
Maintenance Cost Services And Materials [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Expense, net | (916,646) | (1,268,752) | (1,340,255) |
Outsourcing Services [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Expense, net | (2,178,589) | (2,119,515) | (2,217,657) |
Freights [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Expense, net | (2,826,821) | (1,835,601) | (1,637,585) |
Depreciation Amortization And Depletion [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Expense, net | (2,792,845) | (2,114,681) | (2,421,458) |
Others One [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Expense, net | R$ 929205 | R$ 1533119 | R$ 1750424 |
EXPENSES BY NATURE (Details 1)
EXPENSES BY NATURE (Details 1) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
IfrsStatementLineItems [Line Items] | ||||
Production costs | R$ 31054016 | R$ 25837475 | R$ 19124901 | |
Selling expenses | (2,575,818) | (2,372,298) | (2,004,417) | |
General and administrative expenses | 674,119 | 587,148 | 504,458 | |
Other operational | (5,666,642) | (1,534,602) | (5,224,682) | |
Net | (2,907,855) | (1,716,032) | (3,270,056) | |
Depreciation Amortization And Depletion [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Production costs | [1] | (2,752,557) | (2,075,488) | (2,374,046) |
Selling expenses | (13,948) | (11,227) | (13,978) | |
General and administrative expenses | (26,340) | (27,966) | (33,434) | |
Total | (2,792,845) | (2,114,681) | (2,421,458) | |
Other operational | [2] | (77,386) | (97,725) | (95,270) |
Net | R$ 2870231 | R$ 2212406 | R$ 2516728 | |
[1]The cost of production includes PIS and COFINS credits on lease agreements as of December 31, 2022, in the amount of R$7.429 (R$5.786 as of December 31, 2021 ) .[2]They mainly refer to the depreciation of investment properties, paralyzed equipment and amortization of the SWT customer portfolio, classified in other operating expenses, see note 27. |
OTHER OPERATING INCOME AND EX_3
OTHER OPERATING INCOME AND EXPENSES (Details) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Other Operating Income And Expenses | |||
Receivables by indemnity | R$ 10588 | R$ 13646 | R$ 245945 |
Rentals and leases | 17,178 | 11,688 | 9,096 |
Dividends received | 832 | 26,600 | 1,197 |
PIS, COFINS and INSS to compensate | 236,000 | 120,452 | |
Contractual fines | 11,863 | 1,468 | 4,783 |
Updated shares – Fair value through profit or loss (note 14) | (95,620) | 109,254 | 12,579 |
Net gain in shares sale (note 10.d) | 2,472,497 | ||
Other revenues | 308,392 | 87,219 | 32,747 |
Total Other operating income | 253,233 | 2,958,372 | 482,494 |
Other operating expenses | |||
Taxes and fees | (372,897) | (109,693) | (46,338) |
Expenses/reversal with environmental liabilities, net | (10,145) | (8,789) | 16,151 |
Write-off/(Provision) of judicial lawsuits | (209,396) | (25,063) | (130,869) |
Depreciation and amortization (note 26) | (77,386) | (97,725) | (95,270) |
Reversal/(Write-off) of estimated losses on property, plant and equipment, intangible assets and PPI, net of reversal (notes 10.f, 11 and 12) | 24,133 | (112,886) | (13,130) |
Reversal of Impairment Fair Value Transnordestina | 387,989 | ||
Estimated (Loss)/reversal in inventories | (226,942) | (138,779) | (179,012) |
Idleness in stocks and paralyzed equipment | (122,031) | (37,609) | (303,975) |
Studies and project engineering expenses | (58,443) | (77,059) | (27,137) |
Research and development expenses | (461) | (355) | (620) |
Healthcare plan expenses | (24,158) | (31,989) | (117,193) |
Cash flow hedge accounting realized (note 14) | (1,478,589) | (553,018) | (1,951,035) |
Actuarial pension plan | (59,693) | (48,068) | |
Other expenses | (679,836) | (474,999) | (421,628) |
Total Other operating expenses | (2,907,855) | (1,716,032) | (3,270,056) |
Other operating income (expenses), net | (2,654,622) | R$ 1242340 | R$ 2787562 |
Undisputed amount | 134,611 | ||
Effect of cash flow hedge | 1,393,034 | ||
Foreign exchange cash flow hedge | R$ 85555 |
FINANCIAL INCOME (EXPENSES) (De
FINANCIAL INCOME (EXPENSES) (Details) - BRL (R$) R$ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Financial income | ||||
Related parties (Note 22 a) | R$ 184480 | R$ 93862 | R$ 51124 | |
Income from financial investments | 763,259 | 279,467 | 58,061 | |
Updated shares – Fair value through profit or loss (note 14.d) | [1] | (1,198,164) | 385,297 | 1,190,489 |
Other income | 172,205 | 408,558 | 503,054 | |
Financial income | (78,220) | 1,167,184 | 1,802,728 | |
Borrowings and financing - foreign currency (note 13) | (1,238,372) | (1,590,120) | (1,600,973) | |
Borrowings and financing - local currency (note 13) | (1,356,639) | (503,849) | (401,079) | |
Capitalised interest (note 11) | 135,242 | 87,414 | 92,506 | |
Related parties | (10,297) | (12,072) | (13,608) | |
Lease liabilities | (68,533) | (59,260) | (50,804) | |
Interest and fines | (95,667) | (73,334) | (290,673) | |
Interest on drawn/forfaiting risk operations | (444,062) | (126,232) | ||
(-) Adjustment present value of trade payables | (419,517) | (265,495) | (139,566) | |
Commission, bank fees, Guarantee and bank fees | (165,397) | (239,451) | (162,085) | |
PIS/COFINS over financial income | (118,311) | (88,897) | (39,149) | |
Other financial expenses | (390,598) | (285,832) | (270,764) | |
Financial expenses | (4,172,151) | (3,157,128) | (2,876,195) | |
Others financial items, net | ||||
Foreign exchange and monetary variation, net | 783,902 | 46,199 | 392,971 | |
Gains and (losses) on exchange derivatives (*) | (48,556) | (439) | (115,815) | |
Others financial | 735,346 | 45,760 | 277,156 | |
Financial income (expenses) | (3,436,805) | (3,111,368) | (2,599,039) | |
Financial income (expenses), net | (3,515,025) | (1,944,184) | (796,311) | |
Dollar - to - real NDF | 176,991 | 37,322 | ||
Exchange rate swap Real x Dollar | (11,467) | |||
Exchange rate swap Dollar x Euro | 7,119 | (9,070) | ||
Exchange rate swap GBP x Euro | (602) | |||
Interest rate swap CDI x IPCA | (257,897) | (34,920) | ||
Exchange rate swap CDI x Dollar | 43,817 | (9,960) | (106,143) | |
Total | R$ 48556 | R$ 439 | R$ 115815 | |
[1]refers to gains and losses with the updating of the fair value of USIMINAS' shares |
SEGMENT INFORMATION (Details)
SEGMENT INFORMATION (Details) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
IfrsStatementLineItems [Line Items] | |||
Net revenues | R$ 44362120 | R$ 47912039 | R$ 30064020 |
Cost of sales and services | (31,054,016) | (25,837,475) | (19,124,901) |
Gross profit | 13,308,104 | 22,074,564 | 10,939,119 |
General and administrative expenses | (3,249,937) | (2,959,446) | (2,508,875) |
Other operating (income) expenses, net | (2,654,622) | 1,242,340 | (2,787,562) |
Equity in results of affiliated companies | 237,917 | 182,504 | 71,755 |
Operating result before Financial Income and Taxes | 7,641,462 | 20,539,962 | 5,714,437 |
Steel [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenues | 29,341,011 | 30,091,448 | 16,602,895 |
Cost of sales and services | (23,256,319) | (20,081,043) | (14,170,692) |
Gross profit | 6,084,692 | 10,010,405 | 2,432,203 |
General and administrative expenses | (1,314,352) | (1,158,748) | (922,862) |
Other operating (income) expenses, net | (777,976) | (405,018) | (392,061) |
Operating result before Financial Income and Taxes | 3,992,364 | 8,446,639 | 1,117,280 |
Mining [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenues | 12,525,131 | 18,043,386 | 12,683,231 |
Cost of sales and services | (7,105,424) | (7,705,835) | (5,531,763) |
Gross profit | 5,419,707 | 10,337,551 | 7,151,468 |
General and administrative expenses | (352,152) | (351,371) | (179,806) |
Other operating (income) expenses, net | (449,871) | (287,744) | (665,881) |
Operating result before Financial Income and Taxes | 4,617,684 | 9,698,436 | 6,305,781 |
Logistics [Member] | Port [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenues | 307,999 | 311,040 | 256,371 |
Cost of sales and services | (220,491) | (220,494) | (187,860) |
Gross profit | 87,508 | 90,546 | 68,511 |
General and administrative expenses | (32,976) | (33,853) | (21,949) |
Other operating (income) expenses, net | (14,353) | (8,290) | (5,420) |
Operating result before Financial Income and Taxes | 40,179 | 48,403 | 41,142 |
Logistics [Member] | Railroads [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenues | 2,311,754 | 1,839,307 | 1,489,647 |
Cost of sales and services | (1,507,028) | (1,266,112) | (1,094,130) |
Gross profit | 804,726 | 573,195 | 395,517 |
General and administrative expenses | (153,294) | (135,091) | (114,970) |
Other operating (income) expenses, net | 33,927 | 58,253 | 52,569 |
Operating result before Financial Income and Taxes | 685,359 | 496,357 | 333,116 |
Energy [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenues | 293,035 | 222,785 | 172,859 |
Cost of sales and services | (287,340) | (146,349) | (128,227) |
Gross profit | 5,695 | 76,436 | 44,632 |
General and administrative expenses | (43,786) | (32,083) | (30,243) |
Other operating (income) expenses, net | 39,376 | 41,337 | (2,967) |
Operating result before Financial Income and Taxes | 1,285 | 85,690 | 11,422 |
Cement [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenues | 2,819,551 | 1,430,150 | 858,192 |
Cost of sales and services | (1,974,415) | (892,900) | (647,132) |
Gross profit | 845,136 | 537,250 | 211,060 |
General and administrative expenses | (386,230) | (190,986) | (88,232) |
Other operating (income) expenses, net | (105,018) | (63,631) | (44,893) |
Operating result before Financial Income and Taxes | 353,888 | 282,633 | 77,935 |
Elimination of intersegment amounts [member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenues | (3,236,361) | (4,026,077) | (1,999,175) |
Cost of sales and services | 3,297,001 | 4,475,259 | 2,634,903 |
Gross profit | 60,640 | 449,182 | 635,728 |
General and administrative expenses | (967,147) | (1,057,314) | (1,150,813) |
Other operating (income) expenses, net | (1,380,707) | 1,907,433 | (1,728,909) |
Equity in results of affiliated companies | 237,917 | 182,504 | 71,755 |
Operating result before Financial Income and Taxes | (2,049,297) | 1,481,805 | (2,172,239) |
Domestic Market [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenues | 23,957,541 | 23,233,830 | 12,886,213 |
Domestic Market [Member] | Steel [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenues | 20,588,235 | 21,400,318 | 11,721,339 |
Domestic Market [Member] | Mining [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenues | 1,700,051 | 3,114,385 | 1,532,589 |
Domestic Market [Member] | Logistics [Member] | Port [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenues | 307,999 | 311,040 | |
Operating result before Financial Income and Taxes | 307,999 | 311,040 | 256,371 |
Domestic Market [Member] | Logistics [Member] | Railroads [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenues | 2,311,754 | 1,839,307 | |
Operating result before Financial Income and Taxes | 2,311,754 | 1,839,307 | 1,489,647 |
Domestic Market [Member] | Energy [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenues | 293,035 | 222,785 | |
Operating result before Financial Income and Taxes | 293,035 | 222,785 | 172,859 |
Domestic Market [Member] | Cement [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenues | 2,819,551 | 1,430,150 | |
Operating result before Financial Income and Taxes | 2,819,551 | 1,430,150 | 857,197 |
Domestic Market [Member] | Elimination of intersegment amounts [member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenues | (4,063,084) | (5,084,155) | (3,143,789) |
Foreign Market [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenues | 20,404,579 | 24,678,209 | 17,177,807 |
Foreign Market [Member] | Steel [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenues | 8,752,776 | 8,691,130 | 4,881,556 |
Foreign Market [Member] | Mining [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenues | 10,825,080 | 14,929,001 | 11,150,642 |
Foreign Market [Member] | Cement [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenues | 995 | ||
Foreign Market [Member] | Elimination of intersegment amounts [member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenues | 826,723 | 1,058,078 | 1,144,614 |
Asia [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenues | 10,341,232 | 13,685,991 | 8,606,405 |
Asia [Member] | Mining [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenues | 9,514,509 | 12,627,913 | 7,461,791 |
Asia [Member] | Elimination of intersegment amounts [member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenues | 826,723 | 1,058,078 | 1,144,614 |
North America [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenues | 2,018,046 | 2,275,612 | 922,299 |
North America [Member] | Steel [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenues | 2,018,046 | 2,275,612 | 922,299 |
Latin America [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenues | 382,128 | 355,912 | 328,895 |
Latin America [Member] | Steel [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenues | 382,128 | 355,912 | 327,900 |
Latin America [Member] | Cement [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenues | 995 | ||
Europe [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenues | 7,662,107 | 8,360,694 | 7,315,862 |
Europe [Member] | Steel [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenues | 6,351,536 | 6,059,606 | 3,627,011 |
Europe [Member] | Mining [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenues | 1,310,571 | R$ 2301088 | 3,688,851 |
Others [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenues | 1,066 | 4,346 | |
Others [Member] | Steel [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Net revenues | R$ 1066 | R$ 4346 |
SEGMENT INFORMATION (Details Na
SEGMENT INFORMATION (Details Narrative) | Dec. 31, 2022 |
Minerios Nacional [Member] | |
IfrsStatementLineItems [Line Items] | |
Percentage of voting equity interests acquired | 100% |
EMPLOYEE BENEFITS (Details)
EMPLOYEE BENEFITS (Details) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
IfrsStatementLineItems [Line Items] | ||||
Actuarial assets | R$ 35477 | R$ 59111 | ||
Actuarial liabilities | 537,290 | 584,288 | R$ 678880 | |
Defined benefit plans other than multi-employer plans, state plans and plans that share risks between entities under common control [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Actuarial assets | (35,477) | (59,111) | 65,727 | |
Post Employment Healthcare Benefits [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Actuarial liabilities | R$ 537290 | R$ 584288 | R$ 678880 | R$ 892396 |
EMPLOYEE BENEFITS (Details 1)
EMPLOYEE BENEFITS (Details 1) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
IfrsStatementLineItems [Line Items] | ||||
Liabilities (Assets), net | R$ 35477 | R$ 59111 | ||
Defined benefit plans other than multi-employer plans, state plans and plans that share risks between entities under common control [member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Present value of defined benefit obligation | 3,110,848 | 3,151,609 | R$ 3645822 | R$ 3581460 |
Fair value of plan assets | (3,572,869) | (3,584,244) | (3,766,194) | |
Surplus | (462,021) | (432,635) | (120,372) | |
Restriction to actuarial assets due to recovery limitation | 426,544 | 373,524 | 186,099 | |
Liabilities (Assets), net | R$ 35477 | R$ 59111 | R$ 65727 |
EMPLOYEE BENEFITS (Details 2)
EMPLOYEE BENEFITS (Details 2) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
IfrsStatementLineItems [Line Items] | |||
Cost of service | R$ 1225 | R$ 1253 | R$ 968 |
Interest cost | 324,041 | 231,009 | 236,551 |
Defined benefit plans other than multi-employer plans, state plans and plans that share risks between entities under common control [member] | |||
IfrsStatementLineItems [Line Items] | |||
Present value of obligations at the beginning of the year | 3,151,609 | 3,645,822 | 3,581,460 |
Consolidation of CSN Cimentos Brasil | 67,640 | ||
Cost of service | 1,225 | 1,253 | 968 |
Interest cost | 324,041 | 231,009 | 236,551 |
Participant contributions made in the period | 1,382 | 1,398 | 1,998 |
Benefits paid | (310,471) | (283,393) | (278,960) |
Actuarial loss/(gain) | (124,578) | (444,480) | 103,805 |
Present value of obligations at the ending of the year | R$ 3110848 | R$ 3151609 | R$ 3645822 |
EMPLOYEE BENEFITS (Details 3)
EMPLOYEE BENEFITS (Details 3) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
IfrsStatementLineItems [Line Items] | |||
Fair value of plan assets at the beginning of the year | R$ 3584243 | R$ 3766193 | |
Return on plan assets (less interest income) | 135,210 | 138,488 | R$ 109279 |
Fair value of plan assets at the end of the year | 3,572,869 | 3,584,243 | 3,766,193 |
Defined benefit plans other than multi-employer plans, state plans and plans that share risks between entities under common control [member] | |||
IfrsStatementLineItems [Line Items] | |||
Fair value of plan assets at the beginning of the year | (3,584,244) | (3,766,193) | (3,894,488) |
Consolidation of CSN Cimentos Brasil | (63,292) | ||
Interest income | (369,488) | (238,534) | (257,946) |
Benefits paid | 310,471 | 283,393 | 278,960 |
Participant contributions made in the period | (1,382) | (1,398) | (1,998) |
Employer contributions made in the year | (144) | ||
Return on plan assets (less interest income) | 135,210 | 138,488 | 109,279 |
Fair value of plan assets at the end of the year | R$ 3572869 | R$ 3584244 | R$ 3766193 |
EMPLOYEE BENEFITS (Details 4)
EMPLOYEE BENEFITS (Details 4) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Employee Benefits | |||
Cost of current service | R$ 1225 | R$ 1253 | R$ 968 |
Interest cost | 324,041 | 231,009 | 236,551 |
Expected return on plan assets | (369,488) | (238,534) | (257,946) |
Interest on the asset ceiling effect | 39,416 | 11,985 | 21,737 |
Total costs / (income), net | R$ 4806 | R$ 5713 | R$ 1310 |
EMPLOYEE BENEFITS (Details 5)
EMPLOYEE BENEFITS (Details 5) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Employee Benefits | |||
Actuarial losses and (gains) | R$ 124578 | R$ 444480 | R$ 103805 |
Return on plan assets (less interest income) | 135,210 | 138,488 | 109,279 |
Change in the asset’s limit (excluding interest income) | 13,604 | 175,440 | (154,741) |
Total cost of actuarial losses and (gains) | R$ 24236 | R$ 130552 | R$ 58343 |
EMPLOYEE BENEFITS (Details 6)
EMPLOYEE BENEFITS (Details 6) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
IfrsStatementLineItems [Line Items] | |||
Change in the asset’s limit (excluding interest income) | R$ 13604 | R$ 175440 | R$ 154741 |
Actuarial losses and (gains) | (124,578) | (444,480) | 103,805 |
Defined benefit plans other than multi-employer plans, state plans and plans that share risks between entities under common control [member] | |||
IfrsStatementLineItems [Line Items] | |||
Loss due to change in demographic assumptions | 67,930 | ||
Loss due to change in financial assumptions | (204,485) | (647,564) | (30,454) |
Loss due to experience adjustments | 79,907 | 203,084 | 66,329 |
Return on plan assets (less interest income) | 135,210 | 138,489 | 109,279 |
Change in the asset’s limit (excluding interest income) | 13,604 | 175,440 | (154,741) |
Actuarial losses and (gains) | R$ 24236 | R$ 130551 | R$ 58343 |
EMPLOYEE BENEFITS (Details 7)
EMPLOYEE BENEFITS (Details 7) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Employee Benefits | ||
Actuarial financing method | Projected unit credit | Projected unit credit |
Functional currency | Real (R$) | Real (R$) |
Recognition of plan assets | Fair value | Fair value |
Nominal discount rate | Plan 35%: 6.10% Supplementation : 6.10% Mauá Prev: 6.10% | Millennium Plan: 6,95% Plan 35%: 6,24% Supplementation: 6,44% |
Actuarial assumption of expected rates of inflation | 5.31% | 5.03% |
Actuarial assumption of expected rates of salary increases | 1% | 6.08% |
Actuarial assumption of expected rates of pension increases | 5.31% | 5.03% |
Rate of return on investments | Millennium Plan: 6.14% Plan 35%: 6.10% Supplementation : 6.10% Mauá Prev: 6.10% | Millennium Plan: 10.71% Plan 35%: 10.53% Supplementation : 10.54% |
General mortality table | Millennium Plan: AT-2012 segregated by gender Plans 35% : AT-2000 Male, aggravated by 15% Supplementation: AT-2000 segregated by gender, aggravated by 10% Mauá Prev: AT-2000 segregated by gender | Millennium Plan: AT-2012 segregated by gender Plans 35% : AT-2000 Male, aggravated by 15% Supplementation: AT-2000 segregated by gender, aggravated by 10% |
Disability table | Supplementation: Not applied Millennium Plan: Prudential (Ferr Apos) unaggravated by 10% Mauá Prev: Mercer Disability | Supplementation: Not applied Millennium Plan: Prudential - 10% |
Disability mortality table | Millennium Plan: AT 71 Plans 35%: MI-2006 - 10% M&F Supplementation: Winklevoss - 10% Mauá Prev: IAPB-57 | Millennium Plan: AT 71 Plans 35%: MI-2006 - 10% M&F Supplementation: Winklevoss - 10% |
Turnover table | Millennium Plan 5% per year Null for 35% Plans and Supplementation Maua Prev: up to 10 minimum wages 20%, up to 20 minimum wages 15% and above 20 minimum wages 10% | Millennium Plan 5% per year Null for 35% Plans and Supplementation |
Retirement age | 100% on the first date he/she becomes eligible for programmed retirement benefit under the plan | 100% on the first date he/she becomes eligible for programmed retirement benefit under the plan |
Household of active participants | 95% will be married at the time of retirement, with the wife being 4 years younger than the husband | 95% will be married at the time of retirement, with the wife being 4 years younger than the husband |
EMPLOYEE BENEFITS (Details 8)
EMPLOYEE BENEFITS (Details 8) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Plan Covering Thirty Five Percent Of The Average Salary [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Average life expectancy of employees (in years) | 18.38 | 18.38 |
Average life expectancy in years of employees who are 65 (in years) | 18.38 | 18.38 |
Average life expectancy of employees (in years) | 40.15 | 40.15 |
Average life expectancy in years of employees who are 40 (in years) | 40.15 | 40.15 |
Average Salary Supplementation Plan [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Average life expectancy of employees (in years) | 18.75 | 18.75 |
Average life expectancy in years of employees who are 65 (in years) | 21.41 | 21.41 |
Average life expectancy of employees (in years) | 40.60 | 40.60 |
Average life expectancy in years of employees who are 40 (in years) | 44.41 | 44.41 |
Mixed Supplementary Benefit Plan [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Average life expectancy of employees (in years) | 21.47 | 21.47 |
Average life expectancy in years of employees who are 65 (in years) | 23.34 | 23.34 |
Average life expectancy of employees (in years) | 44.07 | 44.07 |
Average life expectancy in years of employees who are 40 (in years) | 46.28 | 46.28 |
Plan A C T Maua Prev [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Average life expectancy of employees (in years) | 22.17 | |
Average life expectancy in years of employees who are 65 (in years) | 19.55 | |
Average life expectancy of employees (in years) | 40.15 | |
Average life expectancy in years of employees who are 40 (in years) | 45.30 |
EMPLOYEE BENEFITS (Details 9)
EMPLOYEE BENEFITS (Details 9) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
IfrsStatementLineItems [Line Items] | |||
Allocation of plan assets | R$ 3572869 | R$ 3584243 | R$ 3766193 |
Plan assets percentage | 100% | 100% | 100% |
Variable Income [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Allocation of plan assets | R$ 193948 | R$ 195032 | R$ 54285 |
Plan assets percentage | 5.43% | 5.44% | 1.44% |
Fixed Income [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Allocation of plan assets | R$ 3106206 | R$ 3127736 | R$ 3438735 |
Plan assets percentage | 86.94% | 87.26% | 91.31% |
Real Estates [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Allocation of plan assets | R$ 207223 | R$ 190474 | R$ 182145 |
Plan assets percentage | 5.80% | 5.31% | 4.84% |
Others Plan Assets [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Allocation of plan assets | R$ 65492 | R$ 71001 | R$ 91028 |
Plan assets percentage | 1.83% | 1.98% | 2.42% |
EMPLOYEE BENEFITS (Details 10)
EMPLOYEE BENEFITS (Details 10) R$ in Thousands | 12 Months Ended |
Dec. 31, 2022 BRL (R$) shares | |
Possible Increase In Actuarial Assumption [Member] | Actuarial assumption of discount rates [member] | |
IfrsStatementLineItems [Line Items] | |
Sensitivity level | 0.50% |
Effect on current service cost and on interest on actuarial obligations | R$ | R$ 13628 |
Effect on present value of obligations | shares | (116,302) |
Possible Increase In Actuarial Assumption [Member] | Actuarial assumption of expected rates of salary increases [member] | |
IfrsStatementLineItems [Line Items] | |
Sensitivity level | 0.50% |
Effect on current service cost and on interest on actuarial obligations | R$ | R$ 116 |
Effect on present value of obligations | shares | 1,148 |
Possible Increase In Actuarial Assumption [Member] | Actuarial assumption of expected rates of pension increases [member] | |
IfrsStatementLineItems [Line Items] | |
Sensitivity level | 0.50% |
Effect on current service cost and on interest on actuarial obligations | R$ | R$ 1728 |
Effect on present value of obligations | shares | 14,713 |
Possible Increase In Actuarial Assumption [Member] | Actuarial assumption of mortality rates [member] | |
IfrsStatementLineItems [Line Items] | |
Effect on current service cost and on interest on actuarial obligations | R$ | R$ 8572 |
Effect on present value of obligations | shares | 72,993 |
Sensitivity level, year | +1 ano |
Possible Decrease In Actuarial Assumption [Member] | Actuarial assumption of discount rates [member] | |
IfrsStatementLineItems [Line Items] | |
Sensitivity level | (0.50%) |
Effect on current service cost and on interest on actuarial obligations | R$ | R$ 14646 |
Effect on present value of obligations | shares | 124,915 |
Possible Decrease In Actuarial Assumption [Member] | Actuarial assumption of expected rates of salary increases [member] | |
IfrsStatementLineItems [Line Items] | |
Sensitivity level | (0.50%) |
Effect on current service cost and on interest on actuarial obligations | R$ | R$ 108 |
Effect on present value of obligations | shares | (1,081) |
Possible Decrease In Actuarial Assumption [Member] | Actuarial assumption of expected rates of pension increases [member] | |
IfrsStatementLineItems [Line Items] | |
Sensitivity level | (0.50%) |
Effect on current service cost and on interest on actuarial obligations | R$ | R$ 1728 |
Effect on present value of obligations | shares | (14,713) |
Possible Decrease In Actuarial Assumption [Member] | Actuarial assumption of mortality rates [member] | |
IfrsStatementLineItems [Line Items] | |
Effect on current service cost and on interest on actuarial obligations | R$ | R$ 8681 |
Effect on present value of obligations | shares | (73,913) |
Sensitivity level, year | - 1 ano |
EMPLOYEE BENEFITS (Details 11)
EMPLOYEE BENEFITS (Details 11) R$ in Thousands | Dec. 31, 2022 BRL (R$) |
IfrsStatementLineItems [Line Items] | |
Defined benefit plan forecast future benefit payments year six | R$ 2806943 |
Defined benefit plans other than multi-employer plans, state plans and plans that share risks between entities under common control [member] | |
IfrsStatementLineItems [Line Items] | |
Year 1 | 331,781 |
Year 2 | 309,844 |
Year 3 | 301,196 |
Year 4 | 293,367 |
Year 5 | 284,533 |
Next 5 years | R$ 1286222 |
EMPLOYEE BENEFITS (Details 12)
EMPLOYEE BENEFITS (Details 12) - BRL (R$) R$ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
IfrsStatementLineItems [Line Items] | ||||
Actuarial liabilities | R$ 537290 | R$ 584288 | R$ 678880 | |
Post Employment Healthcare Benefits [Member] | ||||
IfrsStatementLineItems [Line Items] | ||||
Present value of obligations | 537,290 | 584,288 | 678,880 | |
Actuarial liabilities | R$ 537290 | R$ 584288 | R$ 678880 | R$ 892396 |
EMPLOYEE BENEFITS (Details 13)
EMPLOYEE BENEFITS (Details 13) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
IfrsStatementLineItems [Line Items] | |||
Actuarial liability at the beginning of the year | R$ 584288 | R$ 678880 | |
Actuarial liability at the end of the year | 537,290 | 584,288 | R$ 678880 |
Post Employment Healthcare Benefits [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Actuarial liability at the beginning of the year | 584,288 | 678,880 | 892,396 |
Expenses recognized in income for the year | 57,926 | 42,355 | 57,731 |
Sponsor's contributions transferred in prior year | (62,213) | (73,324) | (81,340) |
Recognition of actuarial loss/(gain) | (42,711) | (63,623) | (189,907) |
Actuarial liability at the end of the year | R$ 537290 | R$ 584288 | R$ 678880 |
EMPLOYEE BENEFITS (Details 14)
EMPLOYEE BENEFITS (Details 14) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
IfrsStatementLineItems [Line Items] | |||
Acturial gain loss on obligation | R$ 135210 | R$ 138488 | R$ 109279 |
Gain/(loss) recognized in shareholders' equity | (124,578) | (444,480) | 103,805 |
Post Employment Healthcare Benefits [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Acturial gain loss on obligation | (42,711) | (63,623) | (189,907) |
Gain/(loss) recognized in shareholders' equity | R$ 42711 | R$ 63623 | R$ 189907 |
EMPLOYEE BENEFITS (Details 15)
EMPLOYEE BENEFITS (Details 15) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Male [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Average life expectancy of employees (in years) | 20.24 | 20.24 | 20.24 |
Female [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Average life expectancy in years of employees who are 40 (in years) | 20.24 | 20.24 | 20.24 |
Male 1 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Average life expectancy of employees (in years) | 42.74 | 42.74 | 42.74 |
Female 1 [Member] | |||
IfrsStatementLineItems [Line Items] | |||
Average life expectancy in years of employees who are 40 (in years) | 42.74 | 42.74 | 42.74 |
EMPLOYEE BENEFITS (Details 16)
EMPLOYEE BENEFITS (Details 16) - Number | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | ||
General mortality table | Millennium Plan: AT-2012 segregated by gender Plans 35% : AT-2000 Male, aggravated by 15% Supplementation: AT-2000 segregated by gender, aggravated by 10% Mauá Prev: AT-2000 segregated by gender | Millennium Plan: AT-2012 segregated by gender Plans 35% : AT-2000 Male, aggravated by 15% Supplementation: AT-2000 segregated by gender, aggravated by 10% |
Actuarial assumption of expected rates of inflation | 5.31% | 5.03% |
Post Employment Healthcare Benefits [Member] | ||
IfrsStatementLineItems [Line Items] | ||
General mortality table | AT 2000 segregated by gender 20% | AT 2000 segregated by gender 20% |
Actuarial assumption of discount rates | 6.10% | 10.55% |
Actuarial assumption of expected rates of inflation | 5.31% | 5.03% |
Real increase in medical costs based on age (Aging Factor) | 0,5% - 3,00% real a.a. | 0,5% - 3,00% real a.a. |
Actuarial assumption of medical cost trend rates | 4.10% | 4.10% |
Average medical cost | 1,084.14 | 1,011.42 |
EMPLOYEE BENEFITS (Details 17)
EMPLOYEE BENEFITS (Details 17) R$ in Thousands | 12 Months Ended |
Dec. 31, 2022 BRL (R$) shares | |
Possible Increase In Actuarial Assumption [Member] | Actuarial assumption of discount rates [member] | |
IfrsStatementLineItems [Line Items] | |
Sensitivity level | 0.50% |
Possible Increase In Actuarial Assumption [Member] | Actuarial assumption of discount rates [member] | Healthcare Plan [Member] | |
IfrsStatementLineItems [Line Items] | |
Sensitivity level | 0.50% |
Effect on current service cost and on interest on actuarial obligations | R$ | R$ 489 |
Effect on present value of obligations | shares | (17,379) |
Possible Increase In Actuarial Assumption [Member] | Actuarial Assumption Of Medical Inflation [Member] | Healthcare Plan [Member] | |
IfrsStatementLineItems [Line Items] | |
Sensitivity level | 1% |
Effect on current service cost and on interest on actuarial obligations | R$ | R$ 4923 |
Effect on present value of obligations | shares | 41,959 |
Possible Increase In Actuarial Assumption [Member] | Actuarial Assumption Of Mortality Table [Member] | Healthcare Plan [Member] | |
IfrsStatementLineItems [Line Items] | |
Effect on current service cost and on interest on actuarial obligations | R$ | R$ 3755 |
Effect on present value of obligations | shares | 32,004 |
Sensitivity level, year | +1 ano |
Possible Increase In Actuarial Assumption [Member] | Actuarial assumption of mortality rates [member] | |
IfrsStatementLineItems [Line Items] | |
Sensitivity level, year | +1 ano |
Possible Decrease In Actuarial Assumption [Member] | Actuarial assumption of discount rates [member] | |
IfrsStatementLineItems [Line Items] | |
Sensitivity level | (0.50%) |
Possible Decrease In Actuarial Assumption [Member] | Actuarial assumption of discount rates [member] | Healthcare Plan [Member] | |
IfrsStatementLineItems [Line Items] | |
Sensitivity level | (0.50%) |
Effect on current service cost and on interest on actuarial obligations | R$ | R$ 529 |
Effect on present value of obligations | shares | 18,672 |
Possible Decrease In Actuarial Assumption [Member] | Actuarial assumption of mortality rates [member] | |
IfrsStatementLineItems [Line Items] | |
Sensitivity level, year | - 1 ano |
Actuarial Assumption Of Medical Inflation [Member] | Actuarial assumption of discount rates [member] | Healthcare Plan [Member] | |
IfrsStatementLineItems [Line Items] | |
Sensitivity level | (1.00%) |
Effect on current service cost and on interest on actuarial obligations | R$ | R$ 4334 |
Effect on present value of obligations | shares | (36,932) |
Actuarial Assumption Of Mortality Table [Member] | Actuarial assumption of mortality rates [member] | Healthcare Plan [Member] | |
IfrsStatementLineItems [Line Items] | |
Effect on current service cost and on interest on actuarial obligations | R$ | R$ 3556 |
Effect on present value of obligations | shares | (30,305) |
Sensitivity level, year | - 1 ano |
EMPLOYEE BENEFITS (Details 18)
EMPLOYEE BENEFITS (Details 18) - Post Employment Healthcare Benefits [Member] R$ in Thousands | Dec. 31, 2022 BRL (R$) |
IfrsStatementLineItems [Line Items] | |
Year 1 | R$ 67596 |
Year 2 | 64,264 |
Year 3 | 60,913 |
Year 4 | 57,523 |
Year 5 | 54,116 |
Next 5 years | 220,269 |
Total forecast payments | R$ 524681 |
EMPLOYEE BENEFITS (Details Narr
EMPLOYEE BENEFITS (Details Narrative) - BRL (R$) R$ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
IfrsStatementLineItems [Line Items] | ||
Number of shares held | 3,486,252 | 3,486,252 |
Plan assets value | R$ 5900000 | R$ 5800000 |
Actuarial assumption of expected rates of salary increases | 1% | 6.08% |
Description of investment policy | The investment plan is reviewed annually and approved by the Deliberative Council, considering a 5-year horizon, as established in CGPC resolution No. 7 of December 4, 2003. The investment limits and criteria established in the policy are based on Resolution 4,661/18, published by the National Monetary Council (“CMN”). | |
Pension plan expense | R$ 1616 | R$ 2032 |
Defined Benefit Plan [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Description of pension fund market | In compliance with current legislation, specific to the pension fund market, for the last 4 years ended (2019, 2020, 2021 and 2022), there was no need to pay installments by CSN, since the benefit plans presented actuarial gains in the year. | |
Average Salary Supplementation Plan [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Actuarial assumption of expected rates of salary increases | 35% | |
Participants salary term | 12 months | |
Plan Covering Thirty Five Percent Of The Average Salary [Member] | ||
IfrsStatementLineItems [Line Items] | ||
Participants salary term | 12 months | |
Mixed Supplementary Benefit Plan [Member] | Not later than one year [member] | ||
IfrsStatementLineItems [Line Items] | ||
Estimate of contributions expected to be paid to plan for next annual reporting period | R$ 19295 | |
Decrease (increase) in net defined benefit liability (asset) resulting from contributions to plan by plan participants | R$ 1366 |
COMMITMENTS (Details)
COMMITMENTS (Details) R$ in Thousands | Dec. 31, 2022 BRL (R$) |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | R$ 10634773 |
Transportation Of Iron Ore Coal Coke Steel Products Cement And Mining Products [Member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 6,232,199 |
Supply Of Power Natural Gas Oxygen Nitrogen Argon And Iron Ore Pellets [Member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 4,112,815 |
Processing Of Slag Generated During Pig Iron And Steel Production [Member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 62,187 |
Oil Storage And Handling [Member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 3,616 |
Labor And Consultancy Services 1 [Member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 223,956 |
Later than one year [member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 3,011,218 |
Later than one year [member] | Transportation Of Iron Ore Coal Coke Steel Products Cement And Mining Products [Member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 1,351,564 |
Later than one year [member] | Supply Of Power Natural Gas Oxygen Nitrogen Argon And Iron Ore Pellets [Member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 1,546,308 |
Later than one year [member] | Processing Of Slag Generated During Pig Iron And Steel Production [Member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 73,983 |
Later than one year [member] | Manufacturing Repair Recovery And Production Of Ingot Casting Machine Units [Member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 3,499 |
Later than one year [member] | Oil Storage And Handling [Member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 2,489 |
Later than one year [member] | Labor And Consultancy Services [Member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 33,375 |
Later than one year and not later than two years [member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 3,880,107 |
Later than one year and not later than two years [member] | Transportation Of Iron Ore Coal Coke Steel Products Cement And Mining Products [Member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 1,568,658 |
Later than one year and not later than two years [member] | Supply Of Power Natural Gas Oxygen Nitrogen Argon And Iron Ore Pellets [Member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 2,191,442 |
Later than one year and not later than two years [member] | Processing Of Slag Generated During Pig Iron And Steel Production [Member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 84,140 |
Later than one year and not later than two years [member] | Oil Storage And Handling [Member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 2,567 |
Later than one year and not later than two years [member] | Labor And Consultancy Services [Member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 33,300 |
Later than two years and not later than three years [member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 3,329,893 |
Later than two years and not later than three years [member] | Transportation Of Iron Ore Coal Coke Steel Products Cement And Mining Products [Member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 1,621,040 |
Later than two years and not later than three years [member] | Supply Of Power Natural Gas Oxygen Nitrogen Argon And Iron Ore Pellets [Member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 1,618,085 |
Later than two years and not later than three years [member] | Processing Of Slag Generated During Pig Iron And Steel Production [Member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 54,163 |
Later than two years and not later than three years [member] | Oil Storage And Handling [Member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 2,893 |
Later than two years and not later than three years [member] | Labor And Consultancy Services [Member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 33,712 |
Later than three years and not later than four years [member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 3,111,988 |
Later than three years and not later than four years [member] | Transportation Of Iron Ore Coal Coke Steel Products Cement And Mining Products [Member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 1,645,983 |
Later than three years and not later than four years [member] | Supply Of Power Natural Gas Oxygen Nitrogen Argon And Iron Ore Pellets [Member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 1,423,546 |
Later than three years and not later than four years [member] | Processing Of Slag Generated During Pig Iron And Steel Production [Member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 8,024 |
Later than three years and not later than four years [member] | Oil Storage And Handling [Member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 723 |
Later than three years and not later than four years [member] | Labor And Consultancy Services [Member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 33,712 |
Later than four years and not later than five years [member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 2,015,586 |
Later than four years and not later than five years [member] | Transportation Of Iron Ore Coal Coke Steel Products Cement And Mining Products [Member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 1,658,897 |
Later than four years and not later than five years [member] | Supply Of Power Natural Gas Oxygen Nitrogen Argon And Iron Ore Pellets [Member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 330,600 |
Later than four years and not later than five years [member] | Labor And Consultancy Services [Member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 26,089 |
Later than five years [member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 2,177,306 |
Later than five years [member] | Transportation Of Iron Ore Coal Coke Steel Products Cement And Mining Products [Member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 1,306,279 |
Later than five years [member] | Supply Of Power Natural Gas Oxygen Nitrogen Argon And Iron Ore Pellets [Member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | 740,584 |
Later than five years [member] | Labor And Consultancy Services [Member] | |
IfrsStatementLineItems [Line Items] | |
Minimum future payments of take-or-pay contracts | R$ 130443 |
INSURANCE (Details Narrative)
INSURANCE (Details Narrative) R$ in Millions | 12 Months Ended |
Dec. 31, 2022 BRL (R$) | |
Insurance | |
Indemnity limit | R$ 600 |
Deductible material damages | R$ 385 |
ADDITIONAL INFORMATION TO CAS_3
ADDITIONAL INFORMATION TO CASH FLOWS (Details) - BRL (R$) R$ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Additional Information To Cash Flows | |||
Income tax and social contribution paid | R$ 3100349 | R$ 3062047 | R$ 542877 |
Addition to PP&E with interest capitalization (notes 11 and 28) | 135,242 | 87,414 | 92,506 |
Remeasurement and addition – Right of use (note 11 i) | 125,946 | 171,215 | 109,993 |
Addition to PP&E without adding cash | 60,329 | 69,788 | 30,345 |
Capitalization in subsidiaries without cash | 367,000 | 104,809 | |
Addition to investment property without cash effect | 61,597 | ||
Net additional cash | R$ 3788866 | R$ 3390464 | R$ 942127 |