XML 63 R40.htm IDEA: XBRL DOCUMENT
v3.21.1

CONSOLIDATED FINANCIAL STATEMENTS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
CONSOLIDATED FINANCIAL STATEMENTS |
Schedule of significant consolidated subsidiaries |
|  |  |  | Equity Interests
Consolidated company |  | Country |  | Total capital (*)
|  |  |  | 2020 |  | 2019 |  | 2018
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 |  | 99.86 |  | 99.83 |  | 99.83
Gerdau Aços Longos S.A. and subsidiaries (2) |  | Brazil |  | 99.82 |  | 99.82 |  | 99.78
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 |  | 89.26 |  | 96.96 |  | 91.40
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
(*)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 92.58% in 2020, 98.07% in 2019 and 98.60% in 2018.
| (1) |  | Subsidiaries: Gerdau Ameristeel US Inc., Chaparral Steel Company.
| (2) |  | Subsidiary: Gerdau Açominas Overseas Ltd., G2L Logistica Ltda. and Siderúrgica Latino-Americana S.A..
| (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 |  | 2020 |  | 2019 |  | 2018
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 |  | 70.00 |  | 50.00
Gerdau Metaldom Corp. |  | Dominican Rep. |  | 50.00 |  | 50.00 |  | 50.00
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 |  | 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 | The summarized financial information of these joint ventures, accounted for under the equity method, is shown on a combined basis as follows:
|  | Joint ventures
|  | 2020 |  | 2019 |  | 2018
Net income (loss) |  | 249,158 |  | (21,548) |  | (16,403)
Total comprehensive income (loss) |  | 249,158 |  | (21,548) |  | (16,403)
Schedule of interests in associate companies |
|  |  |  | Equity interests
|  |  |  | Total capital (*)
Associate companies |  | Country |  | 2020 |  | 2019 |  | 2018
Dona Francisca Energética S.A. |  | Brazil |  | 51.82 |  | 51.82 |  | 51.82
Corsa Controladora, S.A. de C.V. |  | Mexico |  | - |  | - |  | 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 | The summarized financial information of the associate companies, accounted for under the equity method, is shown on a combined basis as follows:
|  | Associate Companies
|  | 2020 |  | 2019 |  | 2018
Net income |  | 42,008 |  | 31,249 |  | 31,806
Total comprehensive income |  | 42,008 |  | 31,249 |  | 31,806
Schedule of fair value assessment of assets and liabilities and total purchase price paid for business combination | The Company concluded the fair value assessment of the assets and liabilities of Silat and the following table summarizes the fair value of such assets and liabilities at the date of business combination:
|  | Fair value of the acquisition
Cash and cash equivalents |  | 33,419
Trade accounts receivable - net |  | 13,190
Inventories |  | 24,160
Other current assets |  | 11,091
Property, plant and equipment |  | 486,757
Other non-current assets |  | 34,410
Current liabilities |  | (26,638)
Deferred income taxes |  | (86,093)
Other non-current liabilities |  | (359)
Non-controlling interest |  | (11,495)
Assets (Liabilities) |  | 478,442
Bargain purchase |  | (2,481)
Net assets |  | 475,961
3.5 - Total purchase price considered for the 2020 acquisition
Subsidiary acquired |  | 2020
Siderúrgica Latino-Americana S.A. |  | 475,961
Total consideration paid |  | 475,961
Less: Cash and cash equivalents of acquired subsidiary |  | (33,419)
|  | 442,542

X
- References No definition available. + Details
Name: | ggb_DisclosureOfInformationAboutConsolidatedFinancialStatementsAbstract
Namespace Prefix: | ggb_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of the main financial information of jointly-controlled entities. + References No definition available. + Details
Name: | ggb_DisclosureOfSignificantInvestmentsInJointlyControlledEntitiesTableTextBlock
Namespace Prefix: | ggb_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of detailed information about business combinations. [Refer: Business combinations [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 3 -IssueDate 2020-01-01 -Section Disclosures application of paragraphs 59 and 61 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=3&code=ifrs-tx-2020-en-r&doctype=Appendix&subtype=B&dita_xref=IFRS03_gB64-B67_TI -URIDate 2020-01-01 + Details
Name: | ifrs-full_DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of interests in associates. [Refer: Associates [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2020-01-01 -Paragraph 2 -Subparagraph b -Clause ii -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2020-en-r&anchor=para_2_b_ii&doctype=Standard -URIDate 2020-01-01 + Details
Name: | ifrs-full_DisclosureOfInterestsInAssociatesExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of joint operations. [Refer: Joint operations [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2020-01-01 -Paragraph B4 -Subparagraph c -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2020-en-r&anchor=para_B4_c&doctype=Appendix&subtype=B -URIDate 2020-01-01 + Details
Name: | ifrs-full_DisclosureOfJointOperationsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of associates. [Refer: Associates [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 27 -IssueDate 2020-01-01 -Paragraph 17 -Subparagraph b -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=27&code=ifrs-tx-2020-en-r&anchor=para_17_b&doctype=Standard -URIDate 2020-01-01 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 27 -IssueDate 2020-01-01 -Paragraph 16 -Subparagraph b -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=27&code=ifrs-tx-2020-en-r&anchor=para_16_b&doctype=Standard -URIDate 2020-01-01 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2020-01-01 -Paragraph B4 -Subparagraph d -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2020-en-r&anchor=para_B4_d&doctype=Appendix&subtype=B -URIDate 2020-01-01 + Details
Name: | ifrs-full_DisclosureOfSignificantInvestmentsInAssociatesExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of subsidiaries. [Refer: Subsidiaries [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 27 -IssueDate 2020-01-01 -Paragraph 17 -Subparagraph b -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=27&code=ifrs-tx-2020-en-r&anchor=para_17_b&doctype=Standard -URIDate 2020-01-01 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 27 -IssueDate 2020-01-01 -Paragraph 16 -Subparagraph b -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=27&code=ifrs-tx-2020-en-r&anchor=para_16_b&doctype=Standard -URIDate 2020-01-01 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2020-01-01 -Paragraph B4 -Subparagraph a -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2020-en-r&anchor=para_B4_a&doctype=Appendix&subtype=B -URIDate 2020-01-01 + Details
Name: | ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration