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v3.23.3

Employee benefits (Tables) | 6 Months Ended
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Jun. 30, 2023
Employee Benefits |
Schedule of reconciliation of assets and liabilities recognized in the statement of financial position |
Schedule of reconciliation of assets and liabilities recognized in the statement of financial position |  |  |  |
| June 30, 2023 | December 31, 2022
| Overfunded pension plans (i) | Underfunded pension plans | Other benefits | Overfunded pension plans | Underfunded pension plans | Other benefits
Balance at beginning of the period | 1,114 | - | - | 919 | - | -
Interest income | 53 | - | - | 84 | - | -
Changes on asset ceiling | 350 | - | - | 65 | - | -
Translation adjustment | 85 | - | - | 46 | - | -
Balance at end of the period | 1,602 | - | - | 1,114 | - | -
Amount recognized in the statement of financial position |  |  |  |  |  |
Present value of actuarial liabilities | (5,406) | (643) | (1,132) | (5,142) | (608) | (1,057)
Fair value of assets | 7,103 | 354 | - | 6,340 | 339 | -
Effect of the asset ceiling | (1,602) | - | - | (1,114) | - | -
Assets (liabilities) | 95 | (289) | (1,132) | 84 | (269) | (1,057)
Current liabilities | - | (13) | (55) | - | (10) | (56)
Non-current assets (liabilities) | 95 | (276) | (1,077) | 84 | (259) | (1,001)
Assets (liabilities) | 95 | (289) | (1,132) | 84 | (269) | (1,057)
(i) | The pension plan asset is recorded as “Other non-current assets” in the statement of financial position.
Schedule of assumptions used for the Monte Carlo simulation |
Schedule of assumptions used for the Monte Carlo simulation |  |  |
|  | 2023 | 2022
Granted shares |  | 1,177,755 | 1,709,955
Date shares were granted |  | 04/28/2023 | 01/03/2022
VALE (R$) |  | 88.88 | 78.00
VALE ON (US$) |  | 16.60 | 13.81
Expected volatility (per year) |  | 48.33% | 39.00%
Expected term (in years) |  | 3 | 3
Expected performance factor |  | 72.42% | 53.08%

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