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18 RELATED-PARTY BALANCES AND TRANSACTIONS | 12 Months Ended
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Dec. 31, 2019
Related party transactions [abstract] |
RELATED-PARTY BALANCES AND TRANSACTIONS | 18 RELATED-PARTY BALANCES AND TRANSACTIONS 18.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 also control Rio Iaco Participações S.A, holding a 4,22% 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 At the Annual General Meeting (AGM), held on April 26, 2019, the distribution of the mandatory minimum dividend for the year of 2018 was approved. Vicunha Aços S.A and Rio Iaco Participações S.A received, respectively, R$442,308 and R$37,879. On December 31, 2019, it was proposed to distribute, as mandatory minimum dividends, the amount of R$204,574 to the shareholder Vicunha Aços S.A and R$17,519 to Rio Iaco Participações S.A. Since the meeting of the board of directors was held on 09/18/2019, the distribution of interim dividends to the profit account recorded in the balance sheet as of June 30, 2019 was approved and Vicunha Aços S.A and Rio Iaco Participações S.A received R$203,179 and R$17,400, respectively. The remaining balance of the proposed dividends of R$1,394 for Vicunha Aços S.A and R$ 119 for Rio Iaco Participações S.A will be deliberated at the 2020 Annual General Meeting (AGM) 18.b) Transactions with subsidiaries, joint ventures, associates, exclusive funds and other related parties · By transaction
|  | Current | Non-current | Total
|  | 12/31/2019 |  | 12/31/2018 |  | 12/31/2019 |  | 12/31/2018 |  | 12/31/2019 |  | 12/31/2018
Assets |  |  |  |  |  |  |  |  |  |  |  |
Trade receivables (note 5) |  | 170,588 |  | 93,317 |  |  |  |  |  | 170,588 |  | 93,317
Dividends receivable (note 7) |  | 44,554 |  | 46,171 |  |  |  |  |  | 44,554 |  | 46,171
Actuarial asset (note 7) |  |  |  |  |  | 13,714 |  | 99,894 |  | 13,714 |  | 99,894
Financial investments |  | 2,116,560 |  | 92,332 |  | 95,719 |  |  |  | 2,212,279 |  | 92,332
Loans (note 7) |  |  |  | 2,675 |  | 846,300 |  | 706,605 |  | 846,300 |  | 709,280
Other receivables (note 7) |  | 1,830 |  | 3,649 |  | 428,672 |  | 218,840 |  | 430,502 |  | 222,489
|  | 2,333,532 |  | 238,144 |  | 1,384,405 |  | 1,025,339 |  | 3,717,937 |  | 1,263,483
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Borrowings and Financing |  |  |  |  |  |  |  |  |  |  |  |
Borrowings and Financing (Note 11) |  | 25,038 |  |  |  |  |  |  |  | 25,038 |  |
Other payables (Note 13) |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  | 23,566 |  | 29,286 |  | 88,021 |  | 96,629 |  | 111,587 |  | 125,915
Provision for consumption and services |  | 22,497 |  | 6,213 |  |  |  |  |  | 22,497 |  | 6,213
Trade payables |  | 240,984 |  | 135,801 |  |  |  |  |  | 240,984 |  | 135,801
Actuarial liabilities |  |  |  |  |  | 19,788 |  | 7,982 |  | 19,788 |  | 7,982
|  | 312,085 |  | 171,300 |  | 107,809 |  | 104,611 |  | 419,894 |  | 275,911
| 12/31/2019 |  | 12/31/2018 |  | 12/31/2017
P&L |  |  |  |  |
Revenues |  |  |  |  |
Sales | 1,122,303 |  | 1,278,751 |  | 880,145
Interest (note 24) | 79,228 |  | 64,888 |  | 61,549
Expenses |  |  |  |  |
Purchases | (1,958,958) |  | (1,418,282) |  | (1,176,930)
Interest (Note 24) |  |  | (16,092) |  |
Foreing exchange and monetary variations, net | 3,586 |  | 13,611 |  |
Other expenses | (150,943) |  |  |  |
| (904,253) |  | (77,124) |  | (235,236)
· By company - Assets and Liabilities
|  | Assets |  | Liabilities
| Current |  | Non-current |  | Total |  | Current |  | Non-current |  | Total
Joint-venture and Joint-operation |  |  |  |  |  |  |  |  |  |  |  |
Itá Energética S.A. |  |  |  |  |  |  |  | 2,231 |  |  |  | 2,231
MRS Logística S.A. |  | 44,554 |  |  |  | 44,554 |  | 142,310 |  | 88,021 |  | 230,331
CBSI - Companhia Brasileira de Serviços e Infraestrutura |  |  |  |  |  |  |  |  |  |  |  |
Transnordestina Logística S.A (1) |  | 797 |  | 1,273,098 |  | 1,273,895 |  | 19 |  |  |  | 19
|  | 45,351 |  | 1,273,098 |  | 1,318,449 |  | 144,560 |  | 88,021 |  | 232,581
Other related parties |  |  |  |  |  |  |  |  |  |  |  |
CBS Previdência |  |  |  | 13,714 |  | 13,714 |  |  |  | 19,788 |  | 19,788
Banco Fibra (2) |  | 1,940 |  | 95,719 |  | 97,659 |  | 25,038 |  |  |  | 25,038
Usiminas |  | 2,116,063 |  |  |  | 2,116,063 |  | 129,824 |  |  |  | 129,824
Panatlântica (3) |  | 128,573 |  |  |  | 128,573 |  | 11,621 |  |  |  | 11,621
Ibis Participações e Serviços |  | 230 |  |  |  | 230 |  |  |  |  |  |
Other related parties |  | 1,940 |  |  |  | 1,940 |  | 1,042 |  |  |  | 1,042
|  | 2,248,746 |  | 109,433 |  | 2,358,179 |  | 167,525 |  | 19,788 |  | 187,313
Associates |  |  |  |  |  |  |  |  |  |  |  |
Arvedi Metalfer do Brasil S.A. |  | 39,435 |  | 1,874 |  | 41,309 |  |  |  |  |  |
Total at 12/31/2019 |  | 2,333,532 |  | 1,384,405 |  | 3,717,937 |  | 312,085 |  | 107,809 |  | 419,894
Total at 12/31/2018 |  | 238,144 |  | 1,025,339 |  | 1,263,483 |  | 171,300 |  | 104,611 |  | 275,911
· By company - Statement of income
|  |  |  |  |  |  |  |  |  | 12/31/2019
| Sales |  | Purchases |  | Financial income (expenses), net |  | Exchange rate variations, net |  | Total
Joint-venture and Joint-operation |  |  |  |  |  |  |  |  |  |
Itá Energética S.A. |  |  |  | (57,285) |  |  |  |  |  | (57,285)
MRS Logística S.A. |  |  |  | (1,068,563) |  |  |  | (14,939) |  | (1,083,502)
CBSI - Companhia Brasileira de Serviços e Infraestrutura |  |  |  | (231,141) |  |  |  |  |  | (231,141)
Transnordestina Logística S.A (1) |  |  |  | (7,294) |  | 58,250 |  |  |  | 50,956
|  |  |  | (1,364,283) |  | 58,250 |  | (14,939) |  | (1,320,972)
Other related parties |  |  |  |  |  |  |  |  |  |
Banco Fibra (2) |  |  |  |  |  | 20,499 |  | 3,586 |  | 24,085
Usiminas |  |  |  | (479,868) |  |  |  | (136,004) |  | (630,538)
Panatlântica (3) |  | 1,043,382 |  | (100,482) |  |  |  |  |  | 942,900
Vicunha Aços S.A |  | 202 |  | (321) |  |  |  |  |  | (119)
Outras related parties |  | 3,620 |  | (14,004) |  |  |  |  |  | (10,384)
|  | 1,047,204 |  | (594,675) |  | 20,499 |  | (132,418) |  | 340,610
Associates |  |  |  |  |  |  |  |  |  |
Arvedi Metalfer do Brasil S.A. |  | 75,630 |  |  |  | 479 |  |  |  | 76,109
Total |  | 1,122,834 |  | (1,958,958) |  | 79,228 |  | (147,357) |  | (904,253)
|  |  |  |  |  |  |  |  | 12/31/2018
| P&L
Sales |  | Purchases |  | Financial income (expenses), net |  | Exchange rate variations, net |  | Total
Joint-venture 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
TOTAL | 1,278,751 |  | (1,418,282) |  | 48,796 |  | 13,611 |  | (77,124)
|  |  |  |  |  |  |  | 12/31/2017
|  | Sales |  | Purchases |  | Financial 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)
Partfib Projetos Imobiliários |  | 2,821 |  |  |  |  |  | 2,821
Vicunha Imóveis Ltda. |  |  |  | (232) |  |  |  | (232)
Vicunha Serviços Ltda. |  |  |  | (61) |  |  |  | (61)
|  | 874,881 |  | (51,702) |  | 6,290 |  | 829,469
Associates |  |  |  |  |  |  |  |
Arvedi Metalfer do Brasil S,A, |  | 2,660 |  |  |  | 1,998 |  | 4,658
Total |  | 880,145 |  | (1,176,930) |  | 61,549 |  | (235,236)
(1) Transnordestina Logística S.A: Assets: Refers mainly to loan agreements in R$: average rate interest from 125% to 130% of the CDI. As of December 31, 2019, the loans amounted to R$844,426 (R$706,605 as of December 31, 2018). (2) Banco Fibra S.A: Assets: Refers mainly to Eurobond from Fibra Bank with maturity in February 2028. (3) Panatlântica: Receivables from the sale of steel products. 18.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. · 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. · 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. · Partfib Projetos Imobiliários Ltda, Vicunha Imóveis Ltda, Vicunha Serviços Ltda, Jockey Club de São Paulo, Ibis Participações e Serviços Ltda e Ibis Agrária Ltda. They are companies and non-profit entities under the control of a member of the management who have maintained transactions with the Company. 18.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, 2019.
|  | 12/31/2019 |  | 12/31/2018 |  | 12/31/2017
|  | P&L
Short-term benefits for employees and officers |  | 37,452 |  | 32,848 |  | 39,721
Post-employment benefits |  | 109 |  | 105 |  | 110
|  | 37,561 |  | 32,953 |  | 39,831
18.e) GUARANTEES The Company is liable for guarantees of its subsidiaries and joint ventures as follows:
| Currency |  | Maturities |  | Borrowings | Tax foreclosure | Others | Total
|  |  |  |  | 12/31/2019 |  | 12/31/2018 |  | 12/31/2019 |  | 12/31/2018 |  | 12/31/2019 |  | 12/31/2018 |  | 12/31/2019 |  | 12/31/2018
Transnordestina Logísitca | R$ |  | Up to 09/19/2056 and indefinite |  | 2,428,194 |  | 2,108,917 |  | 37,406 |  | 35,336 |  | 8,702 |  | 8,231 |  | 2,474,302 |  | 2,152,484
FTL - Ferrovia Transnordestina | R$ |  | Up to 04/01/2021 |  | 43,118 |  | 62,407 |  |  |  |  |  |  |  |  |  | 43,118 |  | 62,407
Cia Metalurgica Prada | R$ |  | Indefinite |  |  |  |  |  | 457 |  | 333 |  | 235 |  | 11,942 |  | 692 |  | 12,275
CSN Energia | R$ |  | Up to 11/26/2023 and indefinite |  |  |  |  |  | 3,141 |  | 2,829 |  | 1,920 |  | 1,920 |  | 5,061 |  | 4,749
CSN Mineração | R$ |  | Up to 12/21/2024 |  | 1,184,048 |  | 1,407,363 |  |  |  |  |  |  |  |  |  | 1,184,048 |  | 1,407,363
Estanho de Rondônia | R$ |  | 7/15/2022 |  | 1,902 |  | 3,153 |  |  |  |  |  |  |  |  |  | 1,902 |  | 3,153
Minérios Nacional S.A. | R$ |  | Up to 09/10/2021 |  | 4,544 |  | 7,305 |  |  |  |  |  |  |  |  |  | 4,544 |  | 7,305
Total in R$ |  |  |  |  | 3,661,806 |  | 3,589,145 |  | 41,004 |  | 38,498 |  | 10,857 |  | 22,093 |  | 3,713,667 |  | 3,649,736
CSN Islands XI | US$ |  | 9/21/2019 |  |  |  | 547,094 |  |  |  |  |  |  |  |  |  |  |  | 547,094
CSN Islands XII | US$ |  | Perpetual |  | 1,000,000 |  | 1,000,000 |  |  |  |  |  |  |  |  |  | 1,000,000 |  | 1,000,000
CSN Resources | US$ |  | Up to 04/17/2026 |  | 1,958,603 |  | 1,402,906 |  |  |  |  |  |  |  |  |  | 1,958,603 |  | 1,402,906
Total in US$ |  |  |  |  | 2,958,603 |  | 2,950,000 |  |  |  |  |  |  |  |  |  | 2,958,603 |  | 2,950,000
CSN Steel S.L. | EUR |  | 1/31/2020 |  | 24,000 |  | 48,000 |  |  |  |  |  |  |  |  |  | 24,000 |  | 48,000
Lusosider Aços Planos | EUR |  | Indefinite |  |  |  | 75,000 |  |  |  |  |  |  |  |  |  |  |  | 75,000
Total in EUR |  |  |  |  | 24,000 |  | 123,000 |  |  |  |  |  |  |  |  |  | 24,000 |  | 123,000
Total in R$ |  |  |  |  | 12,033,973 |  | 11,976,657 |  |  |  |  |  |  |  |  |  | 12,429,826 |  | 11,976,657
|  |  |  |  | 15,695,779 |  | 15,565,802 |  | 41,004 |  | 38,498 |  | 10,857 |  | 22,093 |  | 16,143,493 |  | 15,626,393

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