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

12 Months Ended

Dec. 31, 2021

EARNINGS (LOSS) PER SHARE (EPS)

Schedule of basic and diluted earnings (loss) per share

Basic


		2021
		Common		Preferred		Total

		(in thousands, except share and per share data)
Basic numerator
Allocated net income available to common and preferred shareholders		5,198,011		10,296,100		15,494,111

Basic denominator
Weighted-average outstanding shares, after deducting the average tresuary shares		571,929,945		1,132,865,567

Earnings per share (in R$) — Basic		9.09		9.09


		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

Diluted


		2021		2020		2019
Diluted numerator
Allocated net income available to Common and Preferred shareholders
Net income allocated to preferred shareholders		10,296,100		1,570,146		798,129
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.		26,192		5,524		2,884
		10,322,292		1,575,670		801,013
Net income allocated to common shareholders		5,198,011		795,617		405,607
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.		(26,192)		(4,782)		(2,884)
		5,171,819		790,835		402,723
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		1,132,865,567		1,128,700,478		1,125,408,180
Potential increase in number of preferred shares outstanding in respect of long-term incentive plan of Gerdau		8,633,716		10,821,083		12,157,614
Total		1,141,499,283		1,139,521,561		1,137,565,794

Earnings per share — Diluted (Common and Preferred Shares)		9.04		1.38		0.70