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Financial and capital risk management - Effects of derivatives on statement of financial position and Net exposure (Details) - USD ($) $ in Millions | 12 Months Ended |
--- | --- | ---
Dec. 31, 2020 | Dec. 31, 2019
Financial instruments classification |  |
Current assets | $ 134 | $ 288
Non-current assets | 66 | 184
Current liabilities | 328 | 94
Non-current liabilities | 689 | 307
Derivative financial assets (liabilities) | $ (817) | 71
Percentage of risk estimate | 95.00% |
Others |  |
Financial instruments classification |  |
Derivative financial assets (liabilities) | $ (2) | (77)
Derivatives not designated as hedge |  |
Financial instruments classification |  |
Current assets | 134 | 288
Non-current assets | 66 | 184
Current liabilities | 328 | 94
Non-current liabilities | 689 | 307
Derivatives not designated as hedge | Others |  |
Financial instruments classification |  |
Non-current assets | 16 | 50
Derivative financial assets (liabilities) | (2) | (77)
Derivatives not designated as hedge | Foreign exchange and interest rate risk |  |
Financial instruments classification |  |
Current assets | 7 | 117
Non-current assets | 50 | 125
Current liabilities | 251 | 75
Non-current liabilities | 689 | 183
Derivative financial assets (liabilities) | (883) | (16)
Derivatives not designated as hedge | Foreign exchange and interest rate risk | CDI & TJLP vs. US$ fixed and floating rate swap |  |
Financial instruments classification |  |
Current assets |  | 13
Current liabilities | 111 | 48
Non-current liabilities | 525 | 80
Derivative financial assets (liabilities) | (636) | (115)
Derivatives not designated as hedge | Foreign exchange and interest rate risk | IPCA swap |  |
Financial instruments classification |  |
Current assets | 7 | 82
Non-current assets | 38 | 117
Current liabilities | 72 | 13
Non-current liabilities | 100 | 37
Derivative financial assets (liabilities) | (127) | 149
Derivatives not designated as hedge | Foreign exchange and interest rate risk | Eurobonds Swap |  |
Financial instruments classification |  |
Non-current assets | 3 |
Current liabilities | 4 | 6
Non-current liabilities |  | 29
Derivative financial assets (liabilities) | (1) | (35)
Derivatives not designated as hedge | Foreign exchange and interest rate risk | Pre-dollar swap |  |
Financial instruments classification |  |
Current assets |  | 21
Non-current assets | 9 | 8
Current liabilities | 62 | 8
Non-current liabilities | 58 | 37
Derivative financial assets (liabilities) | (111) | (16)
Derivatives not designated as hedge | Foreign exchange and interest rate risk | Libor swap |  |
Financial instruments classification |  |
Current liabilities | 1 |
Non-current liabilities | 6 |
Derivative financial assets (liabilities) | (7) |
Derivatives not designated as hedge | Foreign exchange and interest rate risk | Forward transactions |  |
Financial instruments classification |  |
Current assets |  | 1
Current liabilities | 1 |
Derivative financial assets (liabilities) | (1) | 1
Derivatives not designated as hedge | Commodities price risk |  |
Financial instruments classification |  |
Current assets | 127 | 171
Non-current assets |  | 9
Current liabilities | 59 | 12
Non-current liabilities |  | 4
Derivative financial assets (liabilities) | 68 | 164
Derivatives not designated as hedge | Commodities price risk | Nickel |  |
Financial instruments classification |  |
Current assets | 30 | 151
Non-current assets |  | 9
Current liabilities | 46 | 4
Non-current liabilities |  | 4
Derivatives not designated as hedge | Commodities price risk | Bunker oil, Gasoil and Brent |  |
Financial instruments classification |  |
Current assets | 97 | 20
Current liabilities | 13 | 8
Derivatives not designated as hedge | Commodities price risk | Base metals products |  |
Financial instruments classification |  |
Derivative financial assets (liabilities) | (16) | 152
Derivatives not designated as hedge | Commodities price risk | Gasoil Brent and Freight |  |
Financial instruments classification |  |
Derivative financial assets (liabilities) | 84 | 12
Derivatives not designated as hedge | Others |  |
Financial instruments classification |  |
Non-current assets | 16 | 50
Current liabilities | 18 | 7
Non-current liabilities |  | 120
Derivatives not designated as hedge | Others | Others |  |
Financial instruments classification |  |
Current liabilities | $ 18 | 7
Non-current liabilities |  | $ 120

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