XML 103 R67.htm IDEA: XBRL DOCUMENT
v3.22.1

EQUITY AND REMUNERATION TO SHAREHOLDERS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
As of December 31, 2021, the Company’s issued and share capital is R$8,467 (R$7,594 at December 31, 2020 and R$7,294 at December 31, 2019), represented by 566,036,634 common shares (507,670,289 at December 31, 2020) and 1,127,325,434 preferred shares (1,011,082,312 at December 31, 2020), both of them with nominal value of R$5.00 (five Reais), as follows: | As of December 31, 2021, the Company’s issued and share capital is R$8,467 (R$7,594 at December 31, 2020 and R$7,294 at December 31, 2019), represented by 566,036,634 common shares (507,670,289 at December 31, 2020) and 1,127,325,434 preferred shares (1,011,082,312 at December 31, 2020), both of them with nominal value of R$5.00 (five Reais), as follows:
|  | Number of shares on December 31, 2021
Shareholders |  | Common |  | % |  | Preferred |  | % |  | Total |  | %
State of Minas Gerais |  |  | 288,485,632 |  |  |  | 51 |  |  |  | 13,143 |  |  |  | — |  |  |  | 288,498,775 |  |  |  | 17 |
Other entities of Minas Gerais State |  |  | 23,094 |  |  |  | — |  |  |  | 14,472,345 |  |  |  | 1 |  |  |  | 14,495,439 |  |  |  | 1 |
FIA Dinâmica Energia S.A. |  |  | 153,354,328 |  |  |  | 27 |  |  |  | 80,004,762 |  |  |  | 7 |  |  |  | 233,359,090 |  |  |  | 14 |
BNDES Participações |  |  | 63,082,911 |  |  |  | 11 |  |  |  | 22,141,720 |  |  |  | 2 |  |  |  | 85,224,631 |  |  |  | 5 |
BlackRock |  |  | — |  |  |  | — |  |  |  | 123,325,741 |  |  |  | 11 |  |  |  | 123,325,741 |  |  |  | 7 |
Others |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
In Brazil |  |  | 43,689,699 |  |  |  | 8 |  |  |  | 145,881,261 |  |  |  | 13 |  |  |  | 189,570,960 |  |  |  | 11 |
Foreign shareholders |  |  | 17,400,970 |  |  |  | 3 |  |  |  | 741,486,462 |  |  |  | 66 |  |  |  | 758,887,432 |  |  |  | 45 |
Total |  |  | 566,036,634 |  |  |  | 100 |  |  |  | 1,127,325,434 |  |  |  | 100 |  |  |  | 1,693,362,068 |  |  |  | 100 |
|  | 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 |
|  | 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 |
The number of shares included in the calculation of basic and diluted earnings per share, is described in the table below: | The number of shares included in the calculation of basic and diluted earnings per share, is described in the table below:
Number of shares |  | 2021 |  | 2020 |  | 2019
Common shares already paid up |  |  | 735,847,624 |  |  |  | 735,847,624 |  |  |  | 735,847,624 |
Shares in treasury |  |  | (102 | ) |  |  | (102 | ) |  |  | (102 | )
Number of shares outstanding |  |  | 735,847,522 |  |  |  | 735,847,522 |  |  |  | 735,847,522 |
Preferred shares already paid up |  |  | 1,465,523,064 |  |  |  | 1,465,523,064 |  |  |  | 1,465,523,064 |
Shares in treasury |  |  | (846,062 | ) |  |  | (846,062 | ) |  |  | (846,062 | )
Number of share |  |  | 1,464,677,002 |  |  |  | 1,464,677,002 |  |  |  | 1,464,677,002 |
Total |  |  | 2,200,524,524 |  |  |  | 2,200,524,524 |  |  |  | 2,200,524,524 |
The calculation of basic and diluted earnings per share is as follows: | The calculation of basic and diluted earnings per share is as follows:
|  | 2021 |  | 2020 |  | 2019
Net income for the year attributed to equity holders of the parent |  |  | 3,751 |  |  |  | 2,864 |  |  |  | 3,194 |
Minimum mandatory dividend from net income for the year - preferred shares |  |  | 1,309 |  |  |  | 986 |  |  |  | 509 |
Net income for the year not distributed - preferred shares |  |  | 1,188 |  |  |  | 920 |  |  |  | 1,617 |
Total earnings - preferred shares (A) |  |  | 2,497 |  |  |  | 1,906 |  |  |  | 2,126 |
Minimum mandatory dividend from net income for the year - common shares |  |  | 657 |  |  |  | 496 |  |  |  | 256 |
Net income for the year not distributed - common shares |  |  | 597 |  |  |  | 462 |  |  |  | 812 |
Total earnings - common shares (B) |  |  | 1,254 |  |  |  | 958 |  |  |  | 1,068 |
Basic and diluted earnings per preferred share (A / number of preferred shares) |  |  | 1.70 |  |  |  | 1.30 |  |  |  | 1.45 |
Basic and diluted earnings per common share (B / number of common shares) |  |  | 1.70 |  |  |  | 1.30 |  |  |  | 1.45 |
|  | 2021 |  | 2020 |  | 2019
Net income for the year from continuing operations attributed to equity holders of the parent |  |  | 3,751 |  |  |  | 2,864 |  |  |  | 2,970 |
Minimum mandatory dividend from net income for the year from continuing operations – preferred shares |  |  | 1,309 |  |  |  | 986 |  |  |  | 509 |
Net income for the year from continuing operations not distributed – preferred shares |  |  | 1,188 |  |  |  | 920 |  |  |  | 1,468 |
Total earnings from continuing operations - preferred shares (A.1) |  |  | 2,497 |  |  |  | 1,906 |  |  |  | 1,977 |
Minimum mandatory dividend from net income for the year from continuing operations - common shares |  |  | 657 |  |  |  | 496 |  |  |  | 256 |
Net income for the year from continuing operations not distributed – common shares |  |  | 597 |  |  |  | 462 |  |  |  | 737 |
Total earnings from continuing operations - common shares (B.1) |  |  | 1,254 |  |  |  | 958 |  |  |  | 993 |
Basic and diluted earnings from continuing operations per preferred share (A.1 / number of preferred shares) |  |  | 1.70 |  |  |  | 1.30 |  |  |  | 1.35 |
Basic and diluted earnings from continuing operations per common share (B.1 / number of common shares) |  |  | 1.70 |  |  |  | 1.30 |  |  |  | 1.35 |
Valuation adjustments |
| c) | Valuation adjustments
|  |  | 2021 |  |  |  | 2020 |  |  |  | 2019 |
Adjustments to actuarial liabilities – Employee benefits |  |  | (329 | ) |  |  | (340 | ) |  |  | (343 | )
Subsidiary and jointly controlled entity |  |  |  |  |  |  |  |  |  |  |  |
Adjustments to actuarial liabilities – Employee benefits |  |  | (2,433 | ) |  |  | (2,660 | ) |  |  | (2,650 | )
Deemed cost of PP&E |  |  | 554 |  |  |  | 569 |  |  |  | 586 |
Total |  |  | (1,879 | ) |  |  | (2,091 | ) |  |  | (2,064 | )
Valuation adjustments |  |  | (2,208 | ) |  |  | (2,431 | ) |  |  | (2,407 | )
Capital reserves | Capital reserves
|  | 2021 |  | 2020 |  | 2019
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 | )
Capital reserves and shares in Treasury |  |  | 2,250 |  |  |  | 2,250 |  |  |  | 2,250 |
Profit reserves | Profit reserves
|  | 2021 |  | 2020 |  | 2019
Legal reserve |  |  | 1,181 |  |  |  | 995 |  |  |  | 853 |
Statutory reserve |  |  | 57 |  |  |  | 57 |  |  |  | 57 |
Profit retention reserve |  |  | 7,331 |  |  |  | 6,651 |  |  |  | 5,500 |
Unrealized profit reserve |  |  | 835 |  |  |  | 835 |  |  |  | 835 |
Incentive tax reserve |  |  | 124 |  |  |  | 103 |  |  |  | 85 |
Reserve for mandatory dividends not distributed |  |  | 1,420 |  |  |  | 1,420 |  |  |  | 1,420 |
Profit reserves |  |  | 10,948 |  |  |  | 10,061 |  |  |  | 8,750 |
Reserve for mandatory dividends not distributed | Reserve for mandatory dividends not distributed
|  | 2021
Dividends withheld, arising from the net income of 2015 |  |  | 623 |
Dividends withheld, arising from the net income of 2014 |  |  | 797 |
|  |  | 1,420 |
The calculation of the minimum dividends proposed for distribution to Shareholders, considering the 2021 unrealized profit assumption mentioned in the previous paragraphs, is as follows: | The calculation of the minimum dividends proposed for distribution to Shareholders, considering the 2021 unrealized profit assumption mentioned in the previous paragraphs, is as follows:
|  | 2021 |  | 2020 |  | 2019
Calculation of Minimum Dividends required by the By-laws for the preferred shares |  |  |  |  |  |  |  |  |  |  |  |
Nominal value of the preferred shares |  |  | 5,637 |  |  |  | 5,055 |  |  |  | 4,856 |
Preferred shares |  |  | 5,637 |  |  |  | 5,055 |  |  |  | 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 |  |  | 564 |  |  |  | 506 |  |  |  | 486 |
Equity |  |  | 19,457 |  |  |  | 17,473 |  |  |  | 15,887 |
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 |  |  | 12,950 |  |  |  | 11,630 |  |  |  | 10,574 |
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 |  |  | 389 |  |  |  | 349 |  |  |  | 317 |
Minimum Dividends required by the Bylaws for the preferred shares |  |  | 564 |  |  |  | 506 |  |  |  | 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 |  |  | 3,751 |  |  |  | 2,864 |  |  |  | 3,127 |
Mandatory dividends – 50% of Net income |  |  | 1,876 |  |  |  | 1,432 |  |  |  | 1,564 |
Unrealized profit reserve |  |  | (835 | ) |  |  | (835 | ) |  |  | (835 | )
Reversal of the unrealized profit reserve established in 2019 |  |  | 835 |  |  |  | 835 |  |  |  | — |
Withholding income tax on Interest on equity |  |  | 91 |  |  |  | 50 |  |  |  | 35 |
|  |  | 1,967 |  |  |  | 1,482 |  |  |  | 764 |
Dividends recorded, as specified in the by-laws |  |  |  |  |  |  |  |  |  |  |  |
Interest on Equity |  |  | 956 |  |  |  | 553 |  |  |  | 400 |
Ordinary dividends |  |  | 1,011 |  |  |  | 929 |  |  |  | 364 |
|  |  | 1,967 |  |  |  | 1,482 |  |  |  | 764 |
Total dividends for the preferred shares |  |  | 1,309 |  |  |  | 986 |  |  |  | 509 |
Total dividends for the common shares |  |  | 658 |  |  |  | 496 |  |  |  | 255 |
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) |  |  | 1,16 |  |  |  | 0.99 |  |  |  | 0.52 |
Dividends proposed: Common (ON) shares |  |  | 1,16 |  |  |  | 0.99 |  |  |  | 0.52 |
Dividends proposed: Preferred (PN) shares |  |  | 1,16 |  |  |  | 0.99 |  |  |  | 0.52 |
This table provides the changes on dividends and interest on capital payable: | This table provides the changes on dividends and interest on capital payable:
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 |
Proposed dividends |  |  | 1,967 |
Proposed dividends - Non-controlling interests |  |  | 1 |
Withholding income tax on interest on capital |  |  | (91 | )
Dividends retained – Minas Gerais state government (Note 11) |  |  | (13 | )
Dividends paid |  |  | (1,403 | )
Balances at December 31, 2021 |  |  | 1,910 |
Allocation of net income for 2021 – Management’s proposal The Annual General Meeting (AGM) held on April 27, 2022 approved the following allocation of the net income for 2021, totaling R$3,753, less R$15 from realization of the deemed cost of PP&E, added to R$835 from the realization of the unrealized profit reserve and addition of R$39 to retained earnings, relating to post-employment benefits:
| § | R$187 to be held in the Legal Reserve, as established in Brazilian corporate law.
| § | R$1,967 for payment of the mandatory minimum dividends to Company’s holders, to be paid in two equal installments, by June 30 and December 30, 2022, as follows:
| - | R$955 in the form of the mandatory dividends as of Interest on Equity, declared on December 07, 2021;
| - | R$1,012 as dividends of 2021, to holders whose names are in the Company’s Nominal Share Registry on the date of the AGM.
| § | R$1,552 to be held in the Profit retention reserve, to ensure the Company’s consolidated investments planned for 2022, as per capital budget.
| § | R$21 to be recorded as Incentives Tax reserve, in reference to the tax incentive amounts obtained in 2020 in relation to the investments made in the region of Sudene.
The amount of R$835 remains as unrealized profit reserve, considering the reversal of the reserve constituted in 2020 and the new constitution in 2021, of the same amount. Payment of the dividends will be made by December 30, 2022, in accordance with the availability of cash and at the decision of the Executive Board.
| g) | Capital increase – Proposal by management
Considering that, on December 31, 2021, the share capital was R$8,467 and the amount of profit reserves, with the exclusion of the Tax Incentive Reserves and Unrealized Earnings Reserve, was R$9,989, exceeding the registered share capital by R$1,523, the Board of Directors will submit to the Annual General Meeting a proposal for increase of the registered share capital from R$8,467 to R$11,007, as per Article 199 of the Brazilian Corporate Law (Law 6,404/76), to be realized through capitalization of the balance of R$2,540 of the Profit retention reserve, through a stock bonus, with issuance of 508,009 new shares, each with nominal (unit) value of R$5.00 set in the by-laws, of which 169,811 will be common shares and 338,198 will be preferred shares.

X
- References No definition available. + Details
Name: | cig_DisclosureOfBasicEarningsPerShareExplanatory
Namespace Prefix: | cig_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | cig_DisclosureOfDividendsAndInterestOnCapitalPayableExplanatory
Namespace Prefix: | cig_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | cig_DisclosureOfReserveForObligatoryDividendsExplanatory
Namespace Prefix: | cig_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | cig_DisclosureOfReservesAndOtherEquityInterestProfitReservesExplanatory
Namespace Prefix: | cig_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | cig_ScheduleOfEquityValuationAdjustmentsExplanatory
Namespace Prefix: | cig_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of classes of share capital. [Refer: Share capital [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2021-01-01 -Paragraph 79 -Subparagraph a -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_79_a&doctype=Standard -URIDate 2021-03-24 + Details
Name: | ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of dividends. Dividends are distributions of profits to holders of equity investments in proportion to their holdings of a particular class of capital. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2021-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_10_e&doctype=Standard -URIDate 2021-03-24 + Details
Name: | ifrs-full_DisclosureOfDividendsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of reserves within equity. [Refer: Other reserves [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2021-01-01 -Paragraph 79 -Subparagraph b -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_79_b&doctype=Standard -URIDate 2021-03-24 + Details
Name: | ifrs-full_DisclosureOfReservesAndOtherEquityInterestExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 33 -IssueDate 2021-01-01 -Paragraph 66 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=33&code=ifrs-tx-2021-en-r&anchor=para_66&doctype=Standard -URIDate 2021-03-24 + Details
Name: | ifrs-full_EarningsPerShareExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration