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EARNINGS (LOSS) PER SHARE (EPS) (Tables)

12 Months Ended

Dec. 31, 2020

EARNINGS (LOSS) PER SHARE (EPS)

Schedule of basic and diluted earnings (loss) per share

Basic


		2020
		Common		Preferred		Total
		(in thousands, except share and per share data)
Basic numerator
Allocated net income available to common and preferred shareholders		795,617		1,570,146		2,365,763

Basic denominator
Weighted-average outstanding shares, after deducting the average tresuary shares		571,929,945		1,128,700,478

Earnings per share (in R$) — Basic		1.39		1.39


		2019
		Common		Preferred		Total
		(in thousands, except share and per share data)
Basic numerator
Allocated net income available to common and preferred shareholders		405,607		798,129		1,203,736

Basic denominator
Weighted-average outstanding shares, after deducting the average tresuary shares		571,929,945		1,125,408,180

Earnings per share (in R$) — Basic		0.71		0.71


		2018
		Common		Preferred		Total
		(in thousands, except share and per share data)
Basic numerator
Allocated net income available to common and preferred shareholders		774,279		1,529,589		2,303,868

Basic denominator
Weighted-average outstanding shares, after deducting the average tresuary shares		571,929,945		1,129,851,598

Earnings per share (in R$) — Basic		1.35		1.35

Diluted


		2020		2019		2018
Diluted numerator
Allocated net income available to Common and Preferred shareholders
Net income allocated to preferred shareholders		1,570,146		798,129		1,529,589
Add:
Adjustment to net income allocated to preferred shareholders in respect to the potential increase in number of preferred shares outstanding, as a result of long-term incentive plans of Gerdau.		5,524		2,884		6,515
		1,575,670		801,013		1,536,104
Net income allocated to common shareholders		795,617		405,607		774,279
Less:
Adjustment to net income allocated to preferred shareholders in respect to the potential increase in number of preferred shares outstanding, as a result of long-term incentive plans of Gerdau.		(4,782)		(2,884)		(6,515)
		790,835		402,723		767,764
Diluted denominator
Weighted - average number of shares outstanding
Common Shares		571,929,945		571,929,945		571,929,945
Preferred Shares
Weighted-average number of preferred shares outstanding		1,128,700,478		1,125,408,180		1,129,851,598
Potential increase in number of preferred shares outstanding in respect of long-term incentive plan of Gerdau		10,821,083		12,157,614		14,440,860
Total		1,139,521,561		1,137,565,794		1,144,292,458

Earnings per share — Diluted (Common and Preferred Shares)		1.38		0.70		1.34