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Income taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income taxes

Schedule of deferred income tax assets and liabilities

​

​	​	​	​	​
​		Year ended December 31, 2021
​		2021		2020
Taxes losses carryforward	​	5,757	​	4,328
Temporary differences:	​	​	​	​
Employee post retirement obligations	​	504	​	744
Provision for litigation	​	346	​	356
Timing differences arising from assets and liabilities	​	4,384	​	4,331
Fair value of financial instruments	​	1,373	​	1,355
Allocated goodwill	​	(2,857)	​	(2,623)
Others	​	53	​	74
​	​	3,803	​	4,237
Total	​	9,560	​	8,565
Assets	​	11,441	​	10,335
Liabilities	​	(1,881)	​	(1,770)
​	​	9,560	​	8,565

​

Schedule of changes in deferred tax

​

​	​	​	​	​	​	​
​		Assets		Liabilities		Deferred taxes, net
Balance at December 31, 2019	​	9,217	​	1,882	​	7,335
Taxes losses carryforward	​	77	​	—	​	77
Timing differences arising from assets and liabilities	​	1,690	​	—	​	1,690
Fair value of financial instruments	​	756	​	—	​	756
Allocated goodwill	​	—	​	(108)	​	108
Others	​	32	​	—	​	32
Effect in income statement	​	2,555	​	(108)	​	2,663
Transfers between assets and liabilities	​	38	​	38	​	—
Translation adjustment	​	(1,811)	​	(37)	​	(1,774)
Other comprehensive income	​	39	​	(5)	​	44
Tax loss carryforward from coal operations (note 16)	​	297	​	—	​	297
Balance at December 31, 2020	​	10,335	​	1,770	​	8,565
Taxes losses carryforward	​	830	​	—	​	830
Timing differences arising from assets and liabilities	​	226	​	—	​	226
Fair value of financial instruments	​	75	​	—	​	75
Allocated goodwill	​	—	​	138	​	(138)
Others	​	(27)	​	—	​	(27)
Effect in income statement	​	1,104	​	138	​	966
Transfers between asset and liabilities	​	(155)	​	(155)	​	—
Translation adjustment	​	(649)	​	(13)	​	(636)
Other comprehensive income	​	(15)	​	141	​	(156)
Tax loss carryforward from coal operations (note 16)	​	821	​	—	​	821
Balance at December 31, 2021	​	11,441	​	1,881	​	9,560

​

Schedule of amount presented as income taxes in the income statement reconciled to the rate established by law

​

​	​	​	​	​	​	​
​	​	Year ended December 31,
​		2021		2020		2019
Income (loss) before income taxes	​	29,541	​	6,990	​	(156)
Income taxes at statutory rate – 34%	​	(10,044)	​	(2,377)	​	53
Adjustments that affect the basis of taxes:	​	​	​	​	​	​
Income tax benefit from interest on stockholders' equity	​	260	​	316	​	601
Tax incentives	​	2,826	​	211	​	189
Equity results	​	167	​	(27)	​	85
Addition of tax loss carryforward (i)	​	251	​	769	​	25
Unrecognized tax losses of the year	​	(115)	​	(215)	​	(551)
Others (ii)	​	1,958	​	588	​	193
Income taxes	​	(4,697)	​	(735)	​	595

(i)In 2020, it refers mainly to exchange variation on tax loss carryforwards of foreign subsidiaries.

(ii)In 2021, it refers substantially to the reclassification of cumulative translation adjustments to the income statement for the year (note 15).

Schedule of income taxes settlement

​

​	​	​	​	​	​
​		Year ended December 31,
​	​	2021		2020
Current liabilities		324		340	​
Non-current liabilities		1,964		2,404	​
REFIS liabilities		2,288		2,744	​
​	​	​	​	​	​
SELIC rate		9.25	%	2.00	%

X

- Definition

The disclosure of deferred taxes. [Refer: Deferred tax liabilities; Deferred tax assets]

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The disclosure of types of temporary differences, unused tax losses and unused tax credits. [Refer: Unused tax credits [member]; Unused tax losses [member]; Temporary differences [member]]

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- Definition

The tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pre-tax income from continuing operations.

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Tabular disclosure of income taxes settlement program.

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