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Employee benefits (Tables)

6 Months Ended

Jun. 30, 2021

Employee benefits

Summary of reconciliation of net liabilities recognized in the statement of financial position


		June 30, 2021						December 31, 2020
		Overfunded		Underfunded				Overfunded		Underfunded
		pension plans		pension plans		Other benefits		pension plans		pension plans		Other benefits
Amount recognized in the statement of financial position
Present value of actuarial liabilities		(3,183)		(4,440)		(1,668)		(3,105)		(4,632)		(1,733)
Fair value of assets		4,045		4,097		—		3,969		3,991		—
Effect of the asset ceiling		(862)		—		—		(864)		—		—
Liabilities		—		(343)		(1,668)		—		(641)		(1,733)

Current liabilities		—		(41)		(72)		—		(47)		(96)
Non-current liabilities		—		(302)		(1,596)		—		(594)		(1,637)
Liabilities		—		(343)		(1,668)		—		(641)		(1,733)

Summary of assumptions used in the Monte Carlo simulation to estimate the fair value of the TSR indicator


PSU		2021
Granted shares		1,474,723
Date shares were granted		04/30/2021
VALE (BRL)		109.02
VALE ON (USD)		20.12
Expected volatility		39.00%p.y.
Expected dividend yield (i)		3.18%p.y.
Expected term (in years)		3
Expected value of the total shareholder return (TSR)		51.20	%
Expected value of the performance factor (Total)		60.96	%

(i) Source: Bloomberg 04/30/2021

Summary of reclassification from cash-settled to equity-settled


Matching		April 30, 2021		Remeasurement		Reclassification		May 1, 2021		Expense		June 30, 2021
Liability		33		5		(38)		—		—		—
Stockholders' equity		—		—		38		38		5		43
Net income		—		(5)		—		(5)		(5)		(10)


PSU		April 30, 2021		Remeasurement		Reclassification		May 1, 2021		Expense		June 30, 2021
Liability		3		(1)		(2)		—		—		—
Stockholders' equity		—		—		2		2		1		3
Net income		—		1		—		1		(1)		—