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CONSOLIDATED FINANCIAL STATEMENTS (Tables) | 12 Months Ended
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Dec. 31, 2019
CONSOLIDATED FINANCIAL STATEMENTS |
Schedule of significant consolidated subsidiaries |
|  |  |  | Equity Interests
|  |  |  | Total capital (*)
Consolidated company |  | Country |  | 2019 |  | 2018 |  | 2017
Gerdau GTL Spain S.L. |  | Spain |  | 100.00 |  | 100.00 |  | 100.00
Gerdau Internacional Empreendimentos Ltda. - Grupo Gerdau |  | Brazil |  | 100.00 |  | 100.00 |  | 100.00
Gerdau Ameristeel Corporation and subsidiaries (1) |  | USA/Canada |  | 100.00 |  | 100.00 |  | 100.00
Gerdau Açominas S.A. and subsidiary |  | Brazil |  | 99.83 |  | 99.83 |  | 99.36
Gerdau Aços Longos S.A. and subsidiary (2) |  | Brazil |  | 99.82 |  | 99.78 |  | 99.12
Gerdau Steel Inc. |  | Canada |  | 100.00 |  | 100.00 |  | 100.00
Gerdau Holdings Inc. and subsidiary (3) |  | USA |  | 100.00 |  | 100.00 |  | 100.00
Paraopeba - Fixed-income investment fund (4) (**) |  | Brazil |  | 96.96 |  | 91.40 |  | 10.69
Aza Participaciones S.A. |  | Chile |  | — |  | — |  | 100.00
Gerdau Hungria Holdings Limited Liability Company |  | Hungary |  | 100.00 |  | 100.00 |  | 100.00
GTL Equity Investments Corp. |  | British Virgin Islands |  | 100.00 |  | 100.00 |  | 100.00
Empresa Siderúrgica del Perú S.A.A. - Siderperú |  | Peru |  | 90.03 |  | 90.03 |  | 90.03
Gerdau GTL México, S.A. de C.V. and subsidiaries (5) |  | Mexico |  | 100.00 |  | 100.00 |  | 100.00
Seiva S.A. - Florestas e Indústrias |  | Brazil |  | 97.73 |  | 97.73 |  | 97.73
Gerdau Laisa S.A. |  | Uruguai |  | 100.00 |  | 100.00 |  | 100.00
Sipar Gerdau Inversiones S.A. |  | Argentina |  | 99.99 |  | 99.99 |  | 99.99
Sipar Aceros S.A. and subsidiary (6) |  | Argentina |  | 99.98 |  | 99.98 |  | 99.98
Sizuca - Siderúrgica Zuliana, C. A. |  | Venezuela |  | 100.00 |  | 100.00 |  | 100.00
GTL Trade Finance Inc. |  | British Virgin Islands |  | 100.00 |  | 100.00 |  | 100.00
Gerdau Trade Inc. |  | British Virgin Islands |  | 100.00 |  | 100.00 |  | 100.00
Gerdau Steel India Ltd. |  | India |  | — |  | — |  | 98.90
(*)The voting capital is substantially equal to the total capital. The interests reported represent the ownership percentage held directly and indirectly in the subsidiary. (**)The percentage of participation including interest of the parent company Metalúrgica Gerdau S.A. in the investment fund is 98.07% in 2019, 98.60% in 2018 and 51.11% in 2017.
| (1) |  | Subsidiaries: Gerdau Ameristeel US Inc., Chaparral Steel Company, GUSAP III LP.
| (2) |  | Subsidiary: Gerdau Açominas Overseas Ltd., G2L Logistica Ltda.
| (3) |  | Subsidiary: Gerdau MacSteel Inc.
| (4) |  | Fixed-income investment fund managed by Bank JP Morgan S.A.
| (5) |  | Subsidiary: Sidertul S.A. de C.V. and GTL Servicios Administrativos México, S.A. de C.V..
| (6) |  | Subsidiary: Siderco S.A.
Schedule of interests in joint ventures |
|  |  |  | Equity Interests
|  |  |  | Total capital(*)
Joint ventures |  | Country |  | 2019 |  | 2018 |  | 2017
Bradley Steel Processors |  | Canada |  | 50.00 |  | 50.00 |  | 50.00
MRM Guide Rail |  | Canada |  | 50.00 |  | 50.00 |  | 50.00
Gerdau Corsa S.A.P.I. de CV |  | Mexico |  | 70.00 |  | 50.00 |  | 50.00
Gerdau Metaldom Corp. |  | Dominican Rep. |  | 50.00 |  | 50.00 |  | 45.00
Gerdau Summit Aços Fundidos e Forjados S.A. |  | Brazil |  | 58.73 |  | 58.73 |  | 58.73
Diaco S.A. |  | Colombia |  | 49.87 |  | 49.87 |  | 49.87
Juntos Somos Mais Fidelização S.A. |  | Brazil |  | 27.50 |  | 27.50 |  | —
(*) The voting capital is substantially equal to the total capital. The interests reported represent the ownership percentage held directly and indirectly held in the joint venture.
Schedule of summarized financial information of the joint ventures |
|  | Joint ventures
|  | 2019 |  | 2018 |  | 2017
Net income (loss) |  | (21,548) |  | (16,403) |  | (91,553)
Total comprehensive income (loss) |  | (21,548) |  | (16,403) |  | (91,553)
Schedule of interests in associate companies |
|  |  |  | Equity interests
|  |  |  | Total capital (*)
Associate companies |  | Country |  | 2019 |  | 2018 |  | 2017
Dona Francisca Energética S.A. |  | Brazil |  | 51.82 |  | 51.82 |  | 51.82
Corsa Controladora, S.A. de C.V. |  | Mexico |  | — |  | 49.00 |  | 49.00
(*) The voting capital is substantially equal to the total capital. The interests reported represent the ownership percentage held directly and indirectly.
Schedule of summarized financial information of the associate companies |
|  | Associate Companies
|  | 2019 |  | 2018 |  | 2017
Net income |  | 31,249 |  | 31,806 |  | 26,099
Total comprehensive income |  | 31,249 |  | 31,806 |  | 26,099

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