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Loans, borrowings, leases, cash and cash equivalents and short-term investments (Tables)
 12 Months Ended
Dec. 31, 2022
Loans Borrowings Leases Cash And Cash Equivalents And Short-term Investments  
Schedule of net debt
       
    December 31, 2022   December 31, 2021
Debt contracts   11,181   12,180
Leases   1,531   1,602
Total of loans, borrowings and leases   12,712   13,782
         
(-) Cash and cash equivalents   4,736   11,721
(-) Short-term investments (i)   61   184
Net debt   7,915   1,877

 

(i) Substantially comprises investments in exclusive investment fund, whose portfolio is composed of committed transactions and Financial Treasury Bills (“LFTs”), which are floating-rate securities issued by the Brazilian government.
Cash and cash equivalents
       
    December 31, 2022   December 31, 2021
R$   1,770   6,714
US$   2,798   4,769
Other currencies   168   238
    4,736   11,721
Schedule of total debt
                   
        Current liabilities   Non-current liabilities
    Average interest rate (i)   December 31, 2022   December 31, 2021   December 31, 2022   December 31, 2021
Quoted in the secondary market:                    
US$, Bonds   6.00%   -   -   6,157   7,448
R$, Debentures (ii)   10.09%   47   186   186   201
Debt contracts in Brazil in (iii):                    
R$, indexed to TJLP, TR, IPCA, IGP-M and CDI   10.62%   46   95   232   259
R$, with fixed interest   3.04%   2   12   -   1
Basket of currencies and bonds in US$ indexed to LIBOR   2.32%   -   11   -   -
Debt contracts in the international market in:                    
US$, with variable and fixed interest   5.03%   54   479   4,212   3,136
Other currencies, with variable interest   4.10%   -   77   9   10
Other currencies, with fixed interest   3.59%   11   12   78   95
Accrued charges       147   158   -   -
        307   1,030   10,874   11,150

 

(i) In order to determine the average interest rate for debt contracts with floating rates, the Company used the rate applicable at December 31, 2022.
(ii) The Company has debentures in Brazil with BNDES obtained for the Company's infrastructure investment projects.
(iii) The Company entered into derivatives to mitigate the exposure to cash flow variations of all floating rate debt contracted in Brazil, resulting in an average cost of 3.59% per year in US$.
Schedule of reconciliation of debt to cash flows arising from financing activities
       
    Principal  

Estimated future

interest payments (i)

2023   160   674
2024   611   662
2025   452   637
2026   847   609
2027   1,696   501
Between 2028 and 2030   2,825   1,267
2031 onwards   4,443   2,056
    11,034   6,406

 

(i) Based on interest rate curves and foreign exchange rates applicable as at December 31, 2022 and considering that the payments of principal will be made on their contracted payments dates. The amount includes the estimated interest not yet accrued and the interest already recognized in the financial statements.
Schedule of lease liabilities
                           
    December 31, 2021   Additions and contract modifications   Payments (i)   Interest   Transfer to liabilities held for sale   Translation adjustment   December 31, 2022
Ports   713   23   (69)   29   (17)   11   690
Vessels   489   -   (63)   17   -   (2)   441
Pelletizing plants   225   20   (47)   11   -   13   222
Properties   103   22   (32)   3   -   9   105
Energy plants   59   -   (7)   3   -   (3)   52
Mining equipment and locomotives   13   12   (6)   2   -   -   21
Total   1,602   77   (224)   65   (17)   28   1,531
Current liabilities   174                       182
Non-current liabilities   1,428                       1,349
Total   1,602                       1,531

 

(i) The total amount of the variable lease payments not included in the measurement of lease liabilities, which have been recognized straight to the income statement, for the year ended December 31, 2022, 2021 and 2020 was US$367, US$395 and US$63, respectively.
Summary of annual minimum payments related
                               
    2023   2024   2025   2026   2027 onwards   Total   Average remaining term (years)   Discount rate
Ports   66   66   65   53   700   950   1 to 20   3% to 5%
Vessels   62   60   59   54   292   527   2 to 10   3% to 4%
Pelletizing plants   53   44   42   15   101   255   1 to 10   2% to 5%
Properties   36   25   15   14   31   121   1 to 7   2% to 6%
Energy plants   6   5   5   5   45   66   1 to 7   5% to 6%
Mining equipment   6   5   5   4   3   23   1 to 5   2% to 6%
Total   229   205   191   145   1,172   1,942