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EQUITY (Tables) | 12 Months Ended
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Dec. 31, 2017
EQUITY |
Schedule of reconciliations of common and preferred outstanding shares |
|  | 2017 |  | 2016 |  | 2015 |
|  | Common shares |  | Preferred shares |  | Common shares |  | Preferred shares |  | Common shares |  | Preferred shares |
Balance at beginning of the year |  | 571,929,945 |  | 1,137,018,570 |  | 571,929,945 |  | 1,114,744,538 |  | 571,929,945 |  | 1,132,613,562 |
Acquisition of Treasury shares |  | — |  | — |  | — |  | (10,000,000 | ) | — |  | (19,923,200 | )
Exercise of stock options |  | — |  | 308,614 |  | — |  | 2,274,032 |  | — |  | 2,054,176 |
Transfer of shares |  | — |  | — |  | — |  | 30,000,000 |  | — |  | — |
Balance at the end of the year |  | 571,929,945 |  | 1,137,327,184 |  | 571,929,945 |  | 1,137,018,570 |  | 571,929,945 |  | 1,114,744,538 |
Schedule of ownership of shares |
|  | Shareholders |
|  | 2017 |
Shareholders |  | Common |  | % |  | Pref. |  | % |  | Total |  | % |
Metalúrgica Gerdau S.A.* |  | 557,898,901 |  | 97.3 |  | 95,471,131 |  | 8.3 |  | 653,370,032 |  | 38.0 |
Brazilian institutional investors |  | 254,785 |  | 0.0 |  | 155,227,424 |  | 13.5 |  | 155,482,209 |  | 9.0 |
Foreign institutional investors |  | 7,254,556 |  | 1.3 |  | 708,109,387 |  | 61.8 |  | 715,363,943 |  | 41.6 |
Other shareholders |  | 6,521,703 |  | 1.1 |  | 178,519,242 |  | 15.6 |  | 185,040,945 |  | 10.8 |
Treasury stock |  | 1,697,538 |  | 0.3 |  | 8,704,061 |  | 0.8 |  | 10,401,599 |  | 0.6 |
|  | 573,627,483 |  | 100.0 |  | 1,146,031,245 |  | 100.0 |  | 1,719,658,728 |  | 100.0 |
|  | Shareholders |
|  | 2016 |
Shareholders |  | Common |  | % |  | Pref. |  | % |  | Total |  | % |
Metalúrgica Gerdau S.A.* |  | 449,712,654 |  | 78.4 |  | 202,806,626 |  | 17.7 |  | 652,519,280 |  | 37.9 |
Brazilian institutional investors |  | 41,883,032 |  | 7.3 |  | 92,721,295 |  | 8.1 |  | 134,604,327 |  | 7.8 |
Foreign institutional investors |  | 11,122,498 |  | 1.9 |  | 705,652,715 |  | 61.5 |  | 716,775,213 |  | 41.8 |
Other shareholders |  | 69,211,761 |  | 12.1 |  | 135,837,934 |  | 11.9 |  | 205,049,695 |  | 11.9 |
Treasury stock |  | 1,697,538 |  | 0.3 |  | 9,012,675 |  | 0.8 |  | 10,710,213 |  | 0.6 |
|  | 573,627,483 |  | 100.0 |  | 1,146,031,245 |  | 100.0 |  | 1,719,658,728 |  | 100.0 |
|  | Shareholders |
|  | 2015 |
Shareholders |  | Common |  | % |  | Pref. |  | % |  | Total |  | % |
Metalúrgica Gerdau S.A.* |  | 449,712,654 |  | 78.4 |  | 252,841,484 |  | 22.1 |  | 702,554,138 |  | 40.9 |
Brazilian institutional investors |  | 49,834,446 |  | 8.7 |  | 73,686,224 |  | 6.4 |  | 123,530,670 |  | 7.2 |
Foreign institutional investors |  | 13,881,226 |  | 2.4 |  | 632,717,431 |  | 55.2 |  | 646,598,657 |  | 37.6 |
Other shareholders |  | 58,501,619 |  | 10.2 |  | 155,489,399 |  | 13.6 |  | 213,991,018 |  | 12.4 |
Treasury stock |  | 1,697,538 |  | 0.3 |  | 31,286,707 |  | 2.7 |  | 32,984,245 |  | 1.9 |
|  | 573,627,483 |  | 100.0 |  | 1,146,031,245 |  | 100.0 |  | 1,719,658,728 |  | 100.0 |
* Metalurgica Gerdau S.A. is the controlling shareholder and Stichting Gerdau Johanpeter is the ultimate controlling shareholder of the Company.
Schedule of changes in treasury stocks |
|  | 2017 |
|  | Common shares |  | R$ |  | Preferred shares |  | R$ |
Opening balance |  | 1,697,538 |  | 557 |  | 9,012,675 |  | 98,189 |
Exercise of stock options |  | — |  | — |  | (308,614 | ) | (22,661 | )
Closing balance |  | 1,697,538 |  | 557 |  | 8,704,061 |  | 75,528 |
|  | 2016 |
|  | Common shares |  | R$ |  | Preferred shares |  | R$ |
Opening balance |  | 1,697,538 |  | 557 |  | 31,286,707 |  | 382,806 |
Repurchases |  | — |  | — |  | 10,000,000 |  | 95,343 |
Exercise of stock options |  | — |  | — |  | (2,274,032 | ) | (10,461 | )
Transfer of shares |  | — |  | — |  | (30,000,000 | ) | (369,499 | )
Closing balance |  | 1,697,538 |  | 557 |  | 9,012,675 |  | 98,189 |
|  | 2015 |
|  | Common shares |  | R$ |  | Preferred shares |  | R$ |
Opening balance |  | 1,697,538 |  | 557 |  | 13,417,683 |  | 232,585 |
Repurchases |  | — |  | — |  | 19,923,200 |  | 186,033 |
Exercise of stock options |  | — |  | — |  | (2,054,176 | ) | (35,812 | )
Closing balance |  | 1,697,538 |  | 557 |  | 31,286,707 |  | 382,806 |
Schedule of effects of interest changes in subsidiaries |
|  | December 31, 2017 |
|  | Attributed to parent company’s interest |  | Non-controlling interests |  | Total |
(ii) Other changes |  | — |  | (21,698 | ) | (21,698 | )
Effects of interest changes in subsidiaries |  | — |  | (21,698 | ) | (21,698 | )
|  | December 31, 2016 |
|  | Attributed to parent company’s interest |  | Non-controlling interests |  | Total |
(ii) Other changes |  | — |  | (6,405 | ) | (6,405 | )
Effects of interest changes in subsidiaries |  | — |  | (6,405 | ) | (6,405 | )
|  | December 31, 2015 |
|  | Attributed to parent company’s interest |  | Non-controlling interests |  | Total |
(i) Acquisition of non-controlling interests |  | — |  | (837,437 | ) | (837,437 | )
(ii) Other changes |  | — |  | 12,726 |  | 12,726 |
Effects of interest changes in subsidiaries |  | — |  | (824,711 | ) | (824,711 | )
(i) Acquisition of non-controlling interests in some Brazilian subsidiaries; (ii) Other changes in subsidiaries without losing control, which may include among others, capital increases, other acquisitions of interests and dilutions of any nature.
Schedule of dividend amounts considered as distributed using the balance of the Investments and Working Capital Reserve |
|  | 2017 |  | 2016 |  | 2015 |
Net loss |  | (359,360 | ) | (2,890,811 | ) | (4,551,438 | )
Absorption of net loss by investments and working capital reserve |  | 359,360 |  | 2,890,811 |  | 4,551,438 |
Schedule of dividends and interest on capital |
|  |  |  |  |  | Outstanding shares |  |  |  |  |  |  |  |  |  |  |
Period |  | Nature |  | R$ /share |  | (thousands) |  | Credit |  | Payment |  | 2017 |  | 2016 |  | 2015 |
1 st quarter |  | Interest |  | — |  | — |  | — |  | — |  | — |  | — |  | 101,200 |
2 nd quarter |  | Dividends |  | 0.02 |  | 1,709,205 |  | 8/21/2017 |  | 9/1/2017 |  | 34,184 |  | 51,225 |  | — |
2 nd quarter |  | Interest |  | — |  | — |  | — |  | — |  | — |  | — |  | 84,318 |
3 rd quarter |  | Interest |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
3 rd quarter |  | Dividends |  | 0.03 |  | 1,709,267 |  | 11/21/2017 |  | 12/1/2017 |  | 51,278 |  | 34,152 |  | 67,458 |
4 th quarter |  | Dividends |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Interest and Dividends |  |  |  |  |  |  |  |  |  |  |  | 85,462 |  | 85,377 |  | 252,976 |
Credit per share (R$) |  |  |  |  |  |  |  |  |  |  |  | 0.05 |  | 0.05 |  | 0.15 |

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