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CONSOLIDATED FINANCIAL STATEMENTS (Tables) | 12 Months Ended
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Dec. 31, 2021
CONSOLIDATED FINANCIAL STATEMENTS |
Schedule of significant consolidated subsidiaries | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Equity Interests
Consolidated company |  | Country | ​ | Total capital (*)
​ | ​ | ​ |  | 2021 |  | 2020 |  | 2019
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. |  | Brazil |  | 99.86 |  | 99.86 |  | 99.83
Gerdau Aços Longos S.A. and subsidiaries (2) |  | Brazil |  | 99.83 |  | 99.82 |  | 99.82
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 |  | 70.62 |  | 89.26 |  | 96.96
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 subsidiary (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 Next S.A. and subsidiaries(7) | ​ | Brazil | ​ | 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 73.54% in 2021, 92.58% in 2020 and 98.07% in 2019.
(1) | Subsidiaries: Gerdau Ameristeel US Inc., Chaparral Steel Company.
(2) | Subsidiaries: Gerdau Açominas Overseas Ltd. 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: GTL Servicios Administrativos México, S.A. de C.V.
(6) | Subsidiary: Siderco S.A.
(7) | Subsidiaries: G2L Logística Ltda, G2base Fundações e Contenções Ltda and Gerdau Grafeno Ltda.
Schedule of interests in joint ventures | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Equity Interests
​ | ​ | ​ | ​ | Total capital(*)
Joint ventures |  | Country |  | 2021 |  | 2020 |  | 2019
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 |  | 75.00 |  | 70.00 |  | 70.00
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 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Joint ventures
​ |  | 2021 |  | 2020 |  | 2019
Net income (loss) |  | 959,116 |  | 249,158 | ​ | (21,548)
Total comprehensive income (loss) |  | 959,116 |  | 249,158 | ​ | (21,548)
Schedule of interests in associate companies | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Equity interests
​ | ​ | ​ | ​ | Total capital (*)
Associate company |  | Country |  | 2021 |  | 2020 |  | 2019
Dona Francisca Energética S.A. |  | Brazil |  | 51.82 |  | 51.82 |  | 51.82
(*) 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 company
​ |  | 2021 |  | 2020 |  | 2019
Net income |  | 37,231 |  | 42,008 | ​ | 31,249
Total comprehensive income |  | 37,231 |  | 42,008 | ​ | 31,249
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:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Book Value |  | Acquisition Adjustments |  | Fair value upon acquisition
​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and cash equivalents | ​ | 33,419 | ​ | — | ​ | 33,419
Trade accounts receivable - net | ​ | 13,190 | ​ | — | ​ | 13,190
Inventories | ​ | 24,160 | ​ | — | ​ | 24,160
Other current assets | ​ | 11,091 | ​ | — | ​ | 11,091
Property, plant and equipment | ​ | 233,541 | ​ | 253,216 | ​ | 486,757
Other non-current assets | ​ | 34,410 | ​ | — | ​ | 34,410
Current liabilities | ​ | (26,638) | ​ | — | ​ | (26,638)
Non-current liabilities | ​ | (359) | ​ | (86,093) | ​ | (86,452)
Non-controlling interest | ​ | (5,395) | ​ | (6,100) | ​ | (11,495)
Assets (Liabilities) | ​ | 317,419 | ​ | 161,023 | ​ | 478,442
Negative Goodwill | ​ | — | ​ | (2,481) | ​ | (2,481)
Net assets | ​ | 317,419 | ​ | 158,542 | ​ | 475,961
3.6 - 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

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