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19. RELATED-PARTY BALANCES AND TRANSACTIONS
 12 Months Ended
Dec. 31, 2018
Related-party Balances And Transactions  
RELATED-PARTY BALANCES AND TRANSACTIONS

19.a) Transactions with holding companies

 

Vicunha Siderurgia S.A. is the Company’s main shareholder, with 49,24% of the voting shares.

 

The Company’s control Vicunha Aços S.A. and Rio Iaco Participações S.A, the latter holding 4,22% of interest in the voting capital of the Company.

 

The corporate structure of Vicunha Aços S.A is as follows:

 

Vicunha Steel S.A. – holds 67.93% of Vicunha Aços S.A.

CFL Participações S.A. – holds 12.82% of Vicunha Aços S.A. and 40% of Vicunha Steel S.A.

Rio Purus Participações S.A. – holds 19.25% of Vicunha Aços S.A. and 60% of Vicunha Steel S.A.

 

·Liabilities


Companies   Proposed  
  Dividends    
Vicunha Aços   439,913  
Rio Iaco Participações S.A.   37,640  
Total at 12/31/2018   477,553  
Total at 12/31/2017   -  

 

 

19.b) Transactions with subsidiaries, joint ventures, associates, exclusive funds and other related parties

 

·By transaction

        Consolidated
    Current Non-current Total
    12/31/2018   12/31/2017   12/31/2018   12/31/2017   12/31/2018   12/31/2017
                         
Assets                        
Trade receivables(note 6)           93,317          115,388                                                              93,317            115,388
Dividends receivable (Note 8)           46,171            41,528                                                              46,171              41,528
Actuarial asset (note 8)                                                             99,894          111,281            99,894            111,281
Financial investments/ investments           92,332                   53                                                              92,332                     53
Loans (note 8)             2,675              2,441            706,605          554,694          709,280            557,135
Other receivables (note 8)             3,649              3,577            218,840            30,770          222,489              34,347
          238,144          162,987         1,025,339          696,745       1,263,483            859,732
Liabilities                                            
Other payables (Note 14)                                            
Accounts payable           29,286                 799              96,629                                  125,915                   799
Provision for consumption and services             6,213              2,298                                                                6,213                2,298
Trade payables         135,801          134,974                                                            135,801            134,974
Actuarial liabilities                                                               7,982            41,937              7,982              41,937
          171,300          138,071            104,611            41,937          275,911            180,008
                         
By Transaction - Statement of Income                        
                         
    12/31/2018   12/31/2017   12/31/2016            
P&L                        
Revenues                        
Sales      1,278,751          880,145            878,992            
Interest (note 25)           64,888            61,549              60,964            
Expenses                        
Purchases     (1,418,282)     (1,176,930)       (1,099,851)            
Interest (note 25)          (16,092)                  (3,185)            
Foreing exchange and monetary variations, net           13,611                (18,398)            
           (77,124)        (235,236)          (181,478)            

 

·By company - Assets and Liabilities

 

 

    Assets   Liabilities
  Current   Non-current   Total   Current   Non-current   Total
           
Joint-venture and Joint-operation                        
Itá Energética S.A.               2,550       2,550
MRS Logística S.A.   46,243       46,243   101,264   96,629.00   197,893
CBSI - Companhia Brasileira de Serviços e Infraestrutura   3       3   37,362       37,362
Transnordestina Logística S.A (1)   1,611   925,445   927,056   13,652       13,652
    47,857   925,445   973,302   154,828   96,629   251,457
Other related parties                        
CBS Previdência       99,894   99,894       7,982   7,982
Banco Fibra (2)   92,334       92,334            
Usiminas                        
Panatlântica (3)   53,027       53,027   15,643       15,643
Ibis Participações e Serviços                        
Other related parties   2,092       2,092   829       829
    147,453   99,894   247,347   16,472   7,982   24,454
Associates                        
Arvedi Metalfer do Brasil S.A.   42,834       42,834            
Total at 12/31/2018   238,144   1,025,339   1,263,483   171,300   104,611   275,911
Total at 12/31/2017   162,987   696,745   859,732   138,071   41,937   180,008

 

·By company - Statement of income

 

    Sales   Purchases   Finance income(expenses), net   Exchange rate variations, net   Total
           
Joint ventures and Joint Operation                    
MRS Logística S,A,              (1,111,695)                                (16,092)              (1,127,787)
CBSI - Companhia Brasileira de Serviços e Infraestrutura                       47             (180,332)                     (180,285)
Transnordestina Logística S.A. (1)                     367               (15,667)                                  50,003                     34,703
                      414          (1,307,694)                                  33,911              (1,273,369)
Other related parties                    
Banco Fibra (2)                                                                                           14,651                                  13,611                 28,262
Usiminas                        (382)                            (382)
Panatlântica (3)           1,174,984               (94,515)                    1,080,469
Ibis Participações e Serviços                     (4,501)                         (4,501)
Other related parties                  2,745               (11,190)                                                                   (8,445)
            1,177,729             (110,588)                                  14,651                                  13,611            1,095,403
Associates                    
Arvedi Metalfer do Brasil S,A,              100,608                                           234                   100,842
                     
Discontinued Operation                    
Cia Metalic Nordeste                    
Total           1,278,751          (1,418,282)                                  48,796                                  13,611               (77,124)

 

                12/31/2017
    Sales   Purchases   Finance income(expenses), net   Total
         
Joint ventures and Joint Operation                
Itá Energética S.A                   (32,275)                                    (32,275)
MRS Logística S.A.                 (934,279)                                  (934,279)
CBSI - Companhia Brasileira de Serviços e Infraestrutura                       55             (150,758)                                  (150,703)
Transnordestina Logística S.A. (1)                  2,549                 (7,916)                                  53,261                                  47,894
                   2,604          (1,125,228)                                  53,261                           (1,069,363)
Other related parties                
Fundação CSN                       13                 (1,118)                                      (1,105)
Banco Fibra (2)                                            6,290                                    6,290
Usiminas                        (427)                                         (427)
Panatlântica (3)              872,047               (43,949)                                    828,098
Ibis Participações e Serviços                     (5,915)                                      (5,915)
Other related parties   2,821   (293)       2,528
               874,881               (51,702)                                    6,290                                829,469
Associates                
Arvedi Metalfer do Brasil S,A,   2,660       1,998   4,658
                 
Discontinued Operation                
Cia Metalic Nordeste                
Total   880,145   (1,176,930)   61,549   (235,236)

 

(1)Transnordestina Logística S.A: Assets: Refers mainly to contracts in R$: interest equivalent to 125.0% and 130.0% of CDI. On December 31, 2018, the borrowings carrying amounts totaled to R$706,605 (R$507,009 as of December 31, 2017).

 

(2)Banco Fibra S.A: Assets: Refers mainly to Eurobond with Fibra Bank and maturity in february 2028.

 

(3)Panatlântica:Receivables from the sale of steel products.

 

19.c) Other unconsolidated related parties

 

·CBS Previdência

 

The Company is its main sponsor, being a non-profit civil society established in July 1960, primarily engaged in the payment of benefits that supplement the official government Social Security benefits to participants. In its capacity as sponsor, CSN carries out transactions involving the payment of contributions and recognition of actuarial liabilities calculated in defined benefit plans.

 

·Fundação CSN

 

Nowadays, the Company develops socially responsible policies concentrated in Fundação CSN, of which it is the founder. The transactions between the parties are related to the operational and financial support for Fundação CSN to conduct the social projects, developed mainly in the localities where the Company operates.

 

 

·Banco Fibra

 

Banco Fibra is under the control structure of Vicunha Aços S.A., direct controller of the Company and the financial transactions carried out with this bank are limited to movements in checking accounts and financial investments in fixed-income securities.

 

·Taquari Asset

 

Belonging to the Vicunha Group, Taquari Asset is the group company responsible for managing third-party funds, funds and / or portfolios.

 

 

·Companies under the control of a member of the Company’s management

 

·Ibis Participações e Serviços Ltda.
·Ibis Agrária Ltda
·Partifib Projetos Imobiliários Ltda.
·Vicunha Imóveis Ltda.
·Vicunha Serviços Ltda.

 

 

19.d) Key management personnel

 

The key management personnel with authority and responsibility for planning, directing and controlling the Company’s activities, include the members of the Board of Directors and statutory directors. The following is information on the compensation of such personnel and the related balances as of December 31, 2018.

             
    12/31/2018   12/31/2017   12/31/2016
    P&L
Short-term benefits for employees and officers   32,848   39,721   71,852
Post-employment benefits   105   110   306
    32,953   39,831   72,158