XML 78 R53.htm IDEA: XBRL DOCUMENT
v3.24.1

FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
FINANCIAL INSTRUMENTS |
Summary of fair value of financial instruments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2023 | ​ | 2022
​ |  | Book |  | Fair |  | Book |  | Fair
​ | ​ | value | ​ | value | ​ | value | ​ | value
Assets |  |  |  |  |  |  |  |
Short-term investments |  | 2,338,097 |  | 2,338,097 |  | 2,959,135 |  | 2,959,135
Trade accounts receivable - net | ​ | 4,875,394 | ​ | 4,875,394 | ​ | 4,999,004 | ​ | 4,999,004
Fair value of derivatives |  | 766 |  | 766 |  | 3,272 |  | 3,272
Other current assets |  | 543,288 |  | 543,288 |  | 789,901 |  | 789,901
Other non-current assets |  | 355,390 |  | 355,390 |  | 700,377 |  | 700,377
Liabilities |  | ​ |  | ​ |  | ​ |  | ​
Trade accounts payable - domestic market | ​ | 4,120,701 | ​ | 4,120,701 | ​ | 4,241,819 | ​ | 4,241,819
Trade accounts payable - debtor risk | ​ | 584,320 | ​ | 584,320 | ​ | 653,085 | ​ | 653,085
Trade accounts payable - imports | ​ | 1,196,162 | ​ | 1,196,162 | ​ | 1,724,019 | ​ | 1,724,019
Loans and Financing |  | 10,079,675 |  | 10,161,103 |  | 11,179,617 |  | 11,267,779
Debentures |  | 813,633 |  | 812,413 |  | 1,427,773 |  | 1,421,187
Related parties | ​ | 24,992 | ​ | 24,992 | ​ | 24,890 | ​ | 24,890
Fair value of derivatives |  | 20,648 |  | 20,648 |  | 19,056 |  | 19,056
Other current liabilities |  | 1,192,461 |  | 1,192,461 |  | 1,216,206 |  | 1,216,206
Other non-current liabilities |  | 859,917 |  | 859,917 |  | 533,681 |  | 533,681
Summary of capital management risk | ​
​ | ​ | ​
Net debt/EBITDA |  | Less or equal to 1.5 times
Gross debt limit | ​ | R$ 12 billion
Average maturity | ​ | more than 6 years
Schedule of maturity of long-term loans and financing, and debentures | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2023
Contractual obligations |  | Total |  | Less than 1 year |  | 1-3 years |  | 4-5 years |  | More than 5 years
Trade accounts payable - domestic market |  | 4,120,701 | ​ | 4,120,701 | ​ | — | ​ | — | ​ | —
Trade accounts payable - debtor risk |  | 584,320 | ​ | 584,320 | ​ | — | ​ | — | ​ | —
Trade accounts payable - import |  | 1,196,162 | ​ | 1,196,162 | ​ | — | ​ | — | ​ | —
Loans and financing | ​ | 15,355,211 | ​ | 1,783,201 | ​ | 2,327,202 | ​ | 3,038,617 | ​ | 8,206,191
Debentures |  | 1,055,196 | ​ | 14,421 | ​ | 199,915 | ​ | 840,860 | ​ | —
Related parties |  | 24,992 |  | 24,992 |  | — |  | — |  | —
Fair value of derivatives |  | 20,648 | ​ | 19,042 | ​ | 1,606 | ​ | — | ​ | —
Other current liabilities |  | 1,192,461 | ​ | 1,192,461 | ​ | — | ​ | — | ​ | —
Other non-current liabilities | ​ | 859,917 | ​ | — | ​ | 59,029 | ​ | — | ​ | 800,888
​ | ​ | 24,409,608 | ​ | 8,935,300 | ​ | 2,587,752 | ​ | 3,879,477 | ​ | 9,007,079
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2022
Contractual obligations |  | Total |  | Less than 1 year |  | 1-3 years |  | 4-5 years |  | More than 5 years
Trade accounts payable - domestic market |  | 4,241,819 | ​ | 4,241,819 | ​ | — | ​ | — | ​ | —
Trade accounts payable - debtor risk |  | 653,085 | ​ | 653,085 | ​ | — | ​ | — | ​ | —
Trade accounts payable - import |  | 1,724,019 | ​ | 1,724,019 | ​ | — | ​ | — | ​ | —
Loans and financing | ​ | 17,262,024 | ​ | 2,492,262 | ​ | 1,987,699 | ​ | 1,369,784 | ​ | 11,412,279
Debentures |  | 1,863,925 | ​ | 628,886 | ​ | 270,236 | ​ | 964,803 | ​ | —
Related parties |  | 24,890 |  | 24,890 |  | — |  | — |  | —
Fair value of derivatives |  | 19,056 | ​ | 19,056 | ​ | — | ​ | — | ​ | —
Other current liabilities |  | 1,216,206 | ​ | 1,216,206 | ​ | — | ​ | — | ​ | —
Other non-current liabilities | ​ | 533,681 | ​ | — | ​ | 45,431 | ​ | — | ​ | 488,250
​ | ​ | 27,538,705 | ​ | 11,000,223 | ​ | 2,303,366 | ​ | 2,334,587 | ​ | 11,900,529
Schedule of sensitivity analysis of financial instrument | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Assumptions |  | Percentage of change |  | 2023 |  | 2022
Foreign currency sensitivity analysis - Loans and financing |  | 5% |  | 10,197 |  | (40,693)
Foreign currency sensitivity analysis - Imports/Exports | ​ | 5% | ​ | (28,929) | ​ | (73,085)
Interest rate sensitivity analysis |  | 10 bps |  | 29,939 |  | 32,377
Sensitivity analysis of changes in prices of products sold |  | 1% |  | 689,164 |  | 824,122
Sensitivity analysis of changes in raw material and commodity prices |  | 1% |  | 425,232 |  | 486,066
Currency forward contracts | ​ | 5% | ​ | (8,311) | ​ | 9,507
Commodity contracts | ​ | 5% | ​ | (2,850) | ​ | 2,899
Swaps USD x DI | ​ | 5% | ​ | 7,604 | ​ | —
Swaps IPCA x DI | ​ | 5% | ​ | (152) | ​ | —
Schedule of financial instruments per category | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Financial asset at fair |  | ​
2023 | ​ | Financial asset at | ​ | value through profit or |  | ​
Assets |  | amortized cost |  | loss |  | Total
Short-term investments |  | — | ​ | 2,338,097 | ​ | 2,338,097
Trade accounts receivable - net | ​ | 4,875,394 | ​ | — | ​ | 4,875,394
Fair value of derivatives |  | — | ​ | 766 | ​ | 766
Other current assets |  | 529,629 | ​ | 13,659 | ​ | 543,288
Other non-current assets |  | 353,370 | ​ | 2,020 | ​ | 355,390
Total |  | 5,758,393 | ​ | 2,354,542 | ​ | 8,112,935
Financial income (expenses) |  | 550,407 | ​ | 584,255 | ​ | 1,134,662
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Financial liability at fair | ​ | ​ | ​ | ​
2023 | ​ | value through profit or | ​ | Financial liability at | ​ | ​
Liabilities |  | loss |  | amortized cost |  | Total
Trade accounts payable - domestic market |  | — | ​ | 4,120,701 | ​ | 4,120,701
Trade accounts payable - debtor risk |  | — | ​ | 584,320 | ​ | 584,320
Trade accounts payable - import |  | — | ​ | 1,196,162 | ​ | 1,196,162
Loans and financing | ​ | — | ​ | 10,079,675 | ​ | 10,079,675
Debentures |  | — | ​ | 813,633 | ​ | 813,633
Related parties | ​ | — | ​ | 24,992 | ​ | 24,992
Fair value of derivatives | ​ | 20,648 | ​ | — | ​ | 20,648
Other current assets |  | — | ​ | 1,192,461 | ​ | 1,192,461
Other non-current assets | ​ | — | ​ | 859,917 | ​ | 859,917
Total | ​ | 20,648 | ​ | 18,871,861 | ​ | 18,892,509
Financial income (expenses) |  | (54,874) | ​ | (2,185,910) | ​ | (2,240,784)
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Financial asset at fair | ​ | ​
2022 | ​ | Financial asset at | ​ | value through proft or | ​ | ​
Assets |  | amortized cost |  | loss |  | Total
Short-term investments |  | — |  | 2,959,135 | ​ | 2,959,135
Trade accounts receivable - net | ​ | 4,999,004 | ​ | — | ​ | 4,999,004
Fair value of derivatives |  | — | ​ | 3,272 | ​ | 3,272
Other current assets |  | 789,901 |  | — | ​ | 789,901
Other non-current assets |  | 559,389 |  | 140,988 | ​ | 700,377
Total |  | 6,348,294 |  | 3,103,395 | ​ | 9,451,689
Financial income (expenses) | ​ | 318,105 |  | 475,910 | ​ | 794,015
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Financial liability at fair | ​ | ​ | ​ | ​
2022 | ​ | value through profit or | ​ | Financial liability at | ​ | ​
Liabilities |  | loss |  | amortized cost |  | Total
Trade accounts payable - domestic market |  | — | ​ | 4,241,819 | ​ | 4,241,819
Trade accounts payable - drawn risk |  | — | ​ | 653,085 | ​ | 653,085
Trade accounts payable - import | ​ | — | ​ | 1,724,019 | ​ | 1,724,019
Loans and financing |  | — | ​ | 11,179,617 | ​ | 11,179,617
Debentures |  | — | ​ | 1,427,773 | ​ | 1,427,773
Related parties |  | — | ​ | 24,890 | ​ | 24,890
Fair value of derivatives | ​ | 19,056 | ​ | — | ​ | 19,056
Other current liabilities | ​ | — | ​ | 1,216,206 | ​ | 1,216,206
Other non-current liabilities | ​ | — | ​ | 533,681 | ​ | 533,681
Total | ​ | 19,056 | ​ | 21,001,090 | ​ | 21,020,146
Financial income (expenses) |  | (44,386) | ​ | (2,642,055) | ​ | (2,686,441)
Summary of derivative instruments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Notional value | ​ | Amount receivable | ​ | Amount payable
Contracts |  | Position |  | 2023 |  | 2022 |  | 2023 |  | 2022 |  | 2023 |  | 2022
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Currency forward contracts | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Maturity in 2024 | ​ | buyed in US$ | ​ | US$ 34.2 million | ​ | US$ 30.9 million | ​ | — | ​ | — | ​ | 17,337 | ​ | 17,950
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commodity contracts | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Maturity in 2024 | ​ | buyed in US$ | ​ | US$ 12.1 million | ​ | US$ 2.4 million | ​ | 32 | ​ | 3,272 | ​ | 1,349 | ​ | 1,106
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Swaps IPCA x DI | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Maturity in 2024 | ​ | 99.2% of CDI | ​ | R$ 450.0 million | ​ | — | ​ | 734 | ​ | — | ​ | 356 | ​ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Swaps USD x DI | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Maturity in 2026 | ​ | 107.9% of CDI | ​ | US$ 30.6 million | ​ | — | ​ | — | ​ | — | ​ | 1,606 | ​ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total fair value of financial instruments | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 766 | ​ | 3,272 | ​ | 20,648 | ​ | 19,056
​
​ | ​ | ​ | ​ | ​
Fair value of derivatives |  | 2023 |  | 2022
Current assets |  | 766 |  | 3,272
​ | ​ | 766 | ​ | 3,272
Fair value of derivatives | ​ | ​ | ​ | ​
Current liabilities | ​ | 19,042 | ​ | 19,056
Non-current liabilities | ​ | 1,606 | ​ | —
​ |  | 20,648 |  | 19,056
​
​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022
Net Income |  |  |  |
Gains on financial instruments |  | 39,895 |  | 83,465
Losses on financial instruments |  | (54,874) |  | (44,386)
​ |  | (14,979) |  | 39,079
Other comprehensive income |  |  |  |
Gains on financial instruments |  | 783 |  | —
Losses on financial instruments | ​ | — | ​ | (607)
​ |  | 783 |  | (607)
Summary of changes in liabilities of cash flow from financing activities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Cash transactions | ​ | Non cash transactions | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Interest expense on | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | loans and Interest on | ​ | ​ | ​ | ​
​ | ​ | Balances as of | ​ | Proceeds/(Repayment) | ​ | Interest paid on | ​ | loans with related | ​ | Exchange variation | ​ | Balances as of
​ |  | January 1, 2021 |  | from financing activities |  | loans and financing |  | parties |  | and others |  | December 31, 2021
Related parties | ​ | (111,499) | ​ | 139,556 | ​ | — | ​ | (6,089) | ​ | 2 | ​ | 21,970
Leasing payable | ​ | 856,474 | ​ | (275,944) | ​ | (68,699) | ​ | 68,699 | ​ | 337,835 | ​ | 918,365
Debt, Debentures and Losses/Gains on financial instruments - Derivative instruments | ​ | 17,516,322 | ​ | (4,506,918) | ​ | (1,100,826) | ​ | 1,059,841 | ​ | 1,068,028 | ​ | 14,036,447
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Cash transactions | ​ | Non cash transactions | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Interest expense on | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | loans and Interest on | ​ | ​ | ​ | ​
​ | ​ | Balances as of | ​ | Proceeds/(Repayment) | ​ | Interest paid on | ​ | loans with related | ​ | Exchange variation | ​ | Balances as of
​ |  | December 31, 2021 |  | from financing activities |  | loans and financing |  | parties |  | and others |  | December 31, 2022
Related parties | ​ | 21,970 | ​ | 2,721 | ​ | — | ​ | 199 | ​ | — | ​ | 24,890
Leasing payable | ​ | 918,365 | ​ | (310,226) | ​ | (88,370) | ​ | 88,370 | ​ | 422,504 | ​ | 1,030,643
Debt, Debentures and Losses/Gains on financial instruments - Derivative instruments | ​ | 14,036,447 | ​ | (937,815) | ​ | (968,851) | ​ | 964,607 | ​ | (471,214) | ​ | 12,623,174
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Cash transactions | ​ | Non cash transactions | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Interest expense on | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | loans and Interest on | ​ | ​ | ​ | ​
​ | ​ | Balances as of | ​ | Proceeds/(Repayment) | ​ | Interest paid on | ​ | loans with related | ​ | Exchange variation | ​ | Balances as of
​ |  | December 31, 2022 |  | from financing activities |  | loans and financing |  | parties |  | and others |  | December 31, 2023
Related parties | ​ | 24,890 | ​ | 102 | ​ | — | ​ | — | ​ | — | ​ | 24,992
Leasing payable | ​ | 1,030,643 | ​ | (388,202) | ​ | (127,787) | ​ | 127,787 | ​ | 635,161 | ​ | 1,277,602
Debt, Debentures and Losses/Gains on financial instruments - Derivative instruments | ​ | 12,623,174 | ​ | (1,054,000) | ​ | (858,301) | ​ | 840,069 | ​ | (637,752) | ​ | 10,913,190
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​

X
- Definition The disclosure of detailed information about market value of financial instruments. + References No definition available. + Details
Name: | ggb_DisclosureOfMarketValueOfFinancialInstrumentsTableTextBlock
Namespace Prefix: | ggb_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition . + References No definition available. + Details
Name: | ggb_SummaryOfChangesInLiabilitiesOfCashFlowFromFinancingActivitiesTableTextBlock
Namespace Prefix: | ggb_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of derivative financial instruments. [Refer: Derivatives [member]] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_10_e&doctype=Standard -URIDate 2023-03-23 + Details
Name: | ifrs-full_DisclosureOfDerivativeFinancialInstrumentsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of detailed information about financial instruments. [Refer: Financial instruments, class [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2023-01-01 -Paragraph 31 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2023-en-r&anchor=para_31&doctype=Standard -URIDate 2023-03-23 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2023-01-01 -Paragraph 7 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2023-en-r&anchor=para_7&doctype=Standard -URIDate 2023-03-23 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2023-01-01 -Paragraph 35K -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2023-en-r&anchor=para_35K&doctype=Standard -URIDate 2023-03-23 + Details
Name: | ifrs-full_DisclosureOfDetailedInformationAboutFinancialInstrumentsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition The disclosure of the entity's financial risk management practices and policies. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_10_e&doctype=Standard -URIDate 2023-03-23 + Details
Name: | ifrs-full_DisclosureOfFinancialRiskManagementExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of liquidity risk. [Refer: Liquidity risk [member]] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_10_e&doctype=Standard -URIDate 2023-03-23 + Details
Name: | ifrs-full_DisclosureOfLiquidityRiskExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of the sensitivity analysis for types of market risk to which the entity is exposed, showing how profit or loss and equity would have been affected by changes in the relevant risk variable that were reasonably possible at that date. [Refer: Market risk [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2023-01-01 -Paragraph 40 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2023-en-r&anchor=para_40_a&doctype=Standard -URIDate 2023-03-23 + Details
Name: | ifrs-full_SensitivityAnalysisForEachTypeOfMarketRisk
Namespace Prefix: | ifrs-full_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration