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v3.23.1

Consolidated Statement of Cash Flows - USD ($) $ in Millions | 12 Months Ended
--- | ---
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020
Statement of cash flows [abstract] |  |  |
Cash flow from operations | $ 18,762 | $ 33,414 | $ 18,894
Interest on loans and borrowings paid | (785) | (693) | (755)
Cash paid on settlement of derivatives, net | (83) | (197) | (34)
Payments related to Brumadinho event | (1,093) | (1,388) | (516)
Payments related to de-characterization of dams | (349) | (338) | (293)
Interest on participative shareholders' debentures paid | (371) | (418) | (183)
Income taxes (including settlement program) | (4,637) | (4,385) | (1,736)
Net cash generated by operating activities from continuing operations | 11,444 | 25,995 | 15,377
Net cash generated (used) in operating activities from discontinued operations | 41 | (316) | (1,055)
Net cash generated by operating activities | 11,485 | 25,679 | 14,322
Cash flow from investing activities: |  |  |
Capital expenditures | (5,446) | (5,033) | (4,227)
Additions to investments |  | (42) | (131)
Proceeds from the sale of investments, net | 586 | 714 | 407
Dividends received from associates and joint ventures | 219 | 190 | 173
Short-term investment | 260 | 582 | (194)
Other investments activities, net | (202) | (552) | (568)
Net cash used in investing activities from continuing operations | (4,583) | (4,141) | (4,540)
Net cash used in investing activities from discontinued operations | (103) | (2,469) | (129)
Net cash used in investing activities | (4,686) | (6,610) | (4,669)
Cash flow from financing activities: |  |  |
Loans and borrowings from third-parties | 1,275 | 930 | 6,800
Payments of loans and borrowings from third-parties | (2,300) | (1,927) | (6,064)
Payments of leasing | (224) | (215) | (204)
Dividends and interest on capital paid to shareholders | (6,603) | (13,483) | (3,350)
Dividends and interest on capital paid to noncontrolling interest | (12) | (30) | (14)
Shares buyback program | (6,036) | (5,546) |
Transactions with noncontrolling shareholders of PTVI |  |  | 278
Transactions with noncontrolling shareholders of MBR |  |  | (107)
Net cash used in financing activities from continuing operations | (13,900) | (20,271) | (2,661)
Net cash used in financing activities from discontinued operations | (11) | (13) | (15)
Net cash used in financing activities | (13,911) | (20,284) | (2,676)
Increase (reduction) in cash and cash equivalents | (7,112) | (1,215) | 6,977
Cash and cash equivalents in the beginning of the year | 11,721 | 13,487 | 7,350
Effect of exchange rate changes on cash and cash equivalents | 138 | (551) | (825)
Cash and cash equivalents from subsidiaries sold, net | (11) |  | (15)
Cash and cash equivalents at end of the year | $ 4,736 | $ 11,721 | $ 13,487

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