XML 88 R67.htm IDEA: XBRL DOCUMENT

26. EQUITY AND REMUNERATION TO SHAREHOLDERS (Tables)

12 Months Ended

Dec. 31, 2020

Statement of changes in equity [abstract]

Schedule of share capital for common shares and preferred shares

As of December 31, 2020, the Company’s issued and share capital is R$7,594 (R$7,294 at December 31, 2019 and 2018), represented by 507,670,289 common shares (487,614,213 at December 31, 2019) and 1,011,082,312 preferred shares (971,138,388 at December 31, 2019), both of them with nominal value of R$5.00 (five Reais), as follows:

Shareholders		Number of shares on December 31, 2020
Shareholders		Common				%				Preferred				%				Total				%
State of Minas Gerais			258,738,711				51				11,788				—				258,750,499				17
Other entities of Minas Gerais State			20,713				—				7,442,037				1				7,462,750				—
FIA Dinâmica Energia S.A.			114,172,677				22				43,975,272				4				158,147,949				10
BNDES Participações			56,578,175				11				27,299,432				3				83,877,607				6
BlackRock			—				—				153,689,970				15				153,689,970				10
Others
In Brazil			55,717,246				11				212,704,725				21				268,421,971				18
Foreign shareholders			22,442,767				5				565,959,088				56				588,401,855				39
Total			507,670,289				100				1,011,082,312				100				1,518,752,601				100

Shareholders		Number of shares on December 31, 2019
Shareholders		Common				%				Preferred				%				Total				%
State of Minas Gerais			248,516,953				51				11,323				—				248,528,276				17
Other entities of Minas Gerais State			19,896				—				1,411,276				—				1,431,172				—
FIA Dinâmica Energia S.A.			48,700,000				10				55,133,744				6				103,833,744				7
BNDES Participações			54,342,992				11				26,220,938				3				80,563,930				6
Others
In Brazil			101,170,317				21				328,982,856				34				430,153,173				29
Foreign shareholders			34,864,055				7				559,378,251				57				594,242,306				41
Total			487,614,213				100				971,138,388				100				1,458,752,601				100

Shareholders		Number of shares on December 31, 2018
Shareholders		Common				%				Preferred				%				Total				%
State of Minas Gerais			248,480,146				51				—				—				248,480,146				17
Other entities of Minas Gerais State			56,703				—				647,647				—				704,350				—
FIA Dinâmica Energia S.A.			48,200,000				10				55,905,344				6				104,105,344				7
BNDES Participações			54,342,992				11				26,220,938				3				80,563,930				5
Others
In Brazil			105,402,202				22				370,338,947				38				475,741,149				33
Foreign shareholders			31,132,170				6				518,025,512				53				549,157,682				38
Total			487,614,213				100				971,138,388				100				1,458,752,601				100

Schedule of shares used in calculation of basic profit and diluted profit per share

The comparative information for 2019 and 2018 was adjusted retrospectively in order to reflect the capital increase.

Number of shares		2020				2019				2018
Common shares already paid up			507,670,289				507,670,289				507,670,289
Shares in treasury			(71	)			(71	)			(71	)
			507,670,218				507,670,218				507,670,218

Preferred shares already paid up			1,011,082,312				1,011,082,312				1,011,082,312
Shares in treasury			(583,709	)			(583,709	)			(583,709	)
			1,010,498,603				1,010,498,603				1,010,498,603
Total			1,518,168,821				1,518,168,821				1,518,168,821

Schedule of calculation of basic earnings per share

The calculation of basic and diluted earnings per share is as follows:

		2020				2019 (Restated)				2018 (Restated)
Net income for the year attributed to equity holders of the parent			2,864				3,194				1,722

Minimum mandatory dividend from net income for the year - preferred shares			986				509				577
Net income for the year not distributed - preferred shares			920				1,617				569
Total earnings - preferred shares (A)			1,906				2,126				1,146

Minimum mandatory dividend from net income for the year - common shares			496				256				290
Net income for the year not distributed - common shares			462				812				286
Total earnings - common shares (B)			958				1,068				576

Basic and diluted earnings per preferred share (A / number of preferred shares)			1.89				2.10				1,13
Basic and diluted earnings per common share (B / number of common shares)			1.89				2.10				1,13

		2020				2019 (Restated)				2018 (Restated)
Net income for the year from continuing operations attributed to equity holders of the parent			2,864				2,970				1,400

Minimum mandatory dividend from net income for the year from continuing operations – preferred shares			986				509				577
Net income for the year from continuing operations not distributed – preferred shares			920				1,468				355
Total earnings from continuing operations - preferred shares (A.1)			1,906				1,977				932

Minimum mandatory dividend from net income for the year from continuing operations - common shares			496				256				290
Net income for the year from continuing operations not distributed – common shares			462				737				178
Total earnings from continuing operations - common shares (B.1)			958				993				468

Basic and diluted earnings from continuing operations per preferred share (A.1 / number of preferred shares)			1.89				1.95				0.92
Basic and diluted earnings from continuing operations per common share (B.1 / number of common shares)			1.89				1.95				0.92

Schedule of equity valuation adjustments

c)	Equity valuation adjustments


		2020				2019				2018
Adjustments to actuarial liabilities – Employee benefits			(340	)			(343	)			(257	)
Subsidiary and jointly-controlled entity
Adjustments to actuarial liabilities – Employee benefits			(2,660	)			(2.650	)			(1.681	)
Deemed cost of PP&E			569				586				611
			(2,091	)			(2.064	)			(1.070	)
Equity valuation adjustments			(2,431	)			(2.407	)			(1.327	)

Schedule of capital reserves and profit reserves

Capital reserves

		2020				2019				2018
Investment-related donations and subsidies			1,857				1,857				1,857
Goodwill on issuance of shares			394				394				394
Shares in treasury			(1	)			(1	)			(1	)
			2,250				2,250				2,250

Profit reserves

		2020				2019 (Restated)				2018 (Restated)
Legal reserve			995				853				853
Statutory reserve			57				57				57
Retained earnings reserve			6,650				5,500				3,965
Unrealized profit reserve			835				835				—
Incentive tax reserve			103				85				67
Reserve for mandatory dividends not distributed			1,420				1,420				1,420
			10,060				8,750				6,362

Schedule of reserve for obligatory dividends not distributed

Reserve for mandatory dividends not distributed

		2020
Dividends withheld, arising from the net income of 2015			623
Dividends withheld, arising from the net income of 2014			797
			1,420

Schedule of dividends proposed for distribution to shareholders based on the profit for the business year

The calculation of the minimum dividends proposed for distribution to Shareholders, considering the 2020 unrealized profit assumption mentioned in the previous paragraphs, is as follows:

		2020				2019				2018
Calculation of Minimum Dividends required by the By-laws for the preferred shares
Nominal value of the preferred shares			5,055				4,856				4,856
			5,055				4,856				4,856
Percentage applied to the nominal value of the preferred shares			10.00	%			10.00	%			10.00	%
Amount of the dividends by the first payment criterion			506				486				486

Equity			17,473				15,887				14,579
Preferred shares as a percentage of Equity (net of shares held in Treasury)			66.56	%			66.56	%			66.56	%
Portion of Equity represented by the preferred shares			11,630				10,574				9,704
Percentage applied to the portion of Equity represented by the preferred shares			3.00	%			3.00	%			3.00	%
Amount of the dividends by the second payment criterion			349				317				291

Minimum Dividends required by the Bylaws for the preferred shares			506				486				486

Calculation of the Minimum Dividend under the by-laws based on the net income for the year
Mandatory dividend
Net income for the year			2,864				3,127				1,700

Mandatory dividends – 50% of Net income			1,432				1,564				850
Unrealized profit reserve			(835	)			(835	)
Reversal of the unrealized profit reserve established in 2019			835				—				—
Withholding income tax on Interest on equity			50				35				17
			1,482				764				867
Dividends recorded, as specified in the by-laws
Interest on Equity			553				400				210
Ordinary dividends			929				364				657
			1,482				764				867

Total dividends for the preferred shares			986				509				577
Total dividends for the common shares			496				255				290

Unit value of dividends – R$
Minimum dividends required by the by-laws for the preferred shares			0.50				0.50				0.50
Mandatory dividends (including withholding income tax on Interest on Equity)			0.99				0.52				0.59
Dividends proposed: Common (ON) shares			0.99				0.52				0.59
Dividends proposed: Preferred (PN) shares			0.99				0.52				0.59

Schedule of dividends and interest on capital payable

This table provides the changes on dividends and interest on capital payable:


Balances at December 31, 2018			864
Proposed dividends			764
Withholding income tax on interest on capital			(35	)
Dividends retained – Minas Gerais state government (Note 11)			(148	)
Dividends paid			(701	)
Balances at December 31, 2019			744
Proposed dividends			1,482
Proposed dividends - Non-controlling interests			1
Withholding income tax on interest on capital			(50	)
Dividends retained – Minas Gerais state government (Note 11)			(130	)
Dividends paid			(598	)
Balances at December 31, 2020			1,449