XML 116 R19.htm IDEA: XBRL DOCUMENT
v3.20.1

13 OTHER PAYABLES | 12 Months Ended
--- | ---
Dec. 31, 2019
Other Payables [Abstract] |
OTHER PAYABLES | 13 OTHER PAYABLES The group of other payables classified in current and non-current liabilities is comprised as follows:
|  |  |  |  |  |  | Consolidated
| Current | Non-current
| 12/31/2019 |  | 12/31/2018 |  | 12/31/2019 |  | 12/31/2018
Payables to related parties (note 18 b) | 46,063 |  | 35,499 |  | 88,021 |  | 96,629
Dividends and interest on capital payable (Note 12 I) | 13,252 |  | 932,005 |  |  |  |
Advances from customers (1) | 787,604 |  | 137,418 |  | 1,845,248 |  |
Taxes in installments | 19,498 |  | 20,179 |  | 67,727 |  | 73,934
Profit sharing - employees | 162,866 |  | 113,219 |  |  |  |
Taxes payable |  |  |  |  | 8,805 |  | 8,631
Provision from consumption and services | 204,299 |  | 334,638 |  |  |  |
Third party materials in our possession | 78,820 |  | 45,915 |  |  |  |
Trade payables - drawee risk (2) | 1,121,312 |  | 65,766 |  |  |  |
Lease Liabilities (note 13a) | 35,040 |  |  |  | 439,350 |  |
Other payables | 57,690 |  | 85,984 |  | 44,551 |  | 48,134
| 2,526,444 |  | 1,770,623 |  | 2,493,702 |  | 227,328
(1) Glencore Advance: On March 29, 2019, the Company received in advance through its subsidiary CSN Mineração the amount of US$ 496 million (R$ 1,951 billion) related to a supply contract of approximately 22 million tons of ore to the Swiss trader Glencore International AG ("Glencore"), to be executed within 5 years. On July 11, 2019, CSN Mineração entered into an amendment to the contract with Glencore and received in advance on August 5, 2019 US$ 250million (R$ 956million) for the additional supply of approximately 11 million tons of iron ore. (2) Trade Payables – Drawee risk: The Company negotiated with financial institutions to anticipate payments from its suppliers, with the objective of extending the terms of its own obligations. The effective prepayment of receivables depends on acceptance by its suppliers, given that their participation is not mandatory. The Company is not reimbursed and / or benefited by the financial institution from discounts for payment executed before the maturity date agreed with the supplier, there is no change in the degree of subordination of the security in the event of judicial execution, nor changes in the existing commercial conditions between Company and its suppliers. 13.a) LEASES The lease liabilities are presented in financial statement as follows:
| 12/31/2019 |  | First adoption
Leases | 1,501,960 |  | 1,533,556
Present value adjustment - Leases | (1,027,570) |  | (892,567)
| 474,390 |  | 640,989
Classified: |  |  |
Current | 35,040 |  | 39,243
Non-current | 439,350 |  | 601,746
| 474,390 |  | 640,989
The Company adopted IFRS 16 as of January 1, 2019, using the modified retrospective approach that does not require the presentation of comparative balances. As a result of adopting IFRS 16, the Company changed the accounting policy for lease agreements. The reconciliation between the amount of lease liabilities recognized on transition to IFRS 16 and the amount of operating lease commitments disclosed in the notes to the consolidated financial statements for the year ended December 31, 2018 is as follows:
Operating lease commitment at December 31,2018 | 4,217,333
Renewal options not included in commitments | 833,083
Effect timing differences between inception and commencement | (26,580)
Variable lease payments not included in commitments | (3,661,675)
Lease liabilities before discounting | 1,362,161
Discount to presente value | (990,827)
Lease liabilities at January 01, 2019 | 371,334
The Company has lease agreements for port terminals in Itaguaí, the Cargo Terminal - TECAR, used for the loading and unloading of iron ores and the Container Terminal - TECON, the agreements have a remaining term of 28 and 32 years respectively and contract lease for railway operation using the Northeast network with a remaining term of 8 years. Additionally, the Company has property lease agreements, used as operational facilities and administrative and sales offices, in several locations where the Company operates, with remaining terms of 2, 5 and 16 years. CSN also has lease agreements for operating equipment, used in mining and steel operations, with terms of 2 to 5 years. The present value of future obligations was measured using the implicit rate observed in the contracts, for contracts that did not have a rate, the Company applied the incremental borrowing loans - “IBR”, both in nominal terms. The IBR was acquired through consultation with the Company's relationship banks according to the average term of the contracts. The average rates used to measure the lease and rights to use:
|  |  |  | 12/31/2019
Contract term (in years) | Incremental - IBR (a.a) |  | Implicit (a.a)
BRL | EURO |  | BRL
1 | 7.78% | 0.52% |  |
2 | 8.16% |  |  |
3 | 8.53% |  |  |
4 | 8.90% | 1.11% |  |
5 | 9.27% |  |  |
6 |  | 1.24% |  |
9 |  |  |  | 6.75%
16 | 12.25% |  |  |
29 |  |  |  | 8.30%
32 |  |  |  | 15.22%
Changes in lease liabilities for the period ended December 31, 2019 are shown in the table below.
| 12/31/2019
| Consolidated
Opening balance | 640,989
New leases (note 9) | 106,584
Present Value Adjustments - New leases (note 9) | (54,080)
Contract review | (175,609)
Write off | (1,374)
Payments | (94,727)
Interest appropriated | 52,607
Net balance | 474,390
The minimum future payments estimated to leasing agreements include variable payments, essentially fixed when based on minimum performance and contractually fixed rates. As of December 31,2019 are as follows:
|  |  |  |  |  |  | Consolidated
| Less than one year |  | Between one and five years |  | Over five years |  | Total
Leases | 86,062 |  | 319,162 |  | 1,096,736 |  | 1,501,960
Present value adjustment - Leases | (51,022) |  | (229,417) |  | (747,131) |  | (1,027,570)
| 35,040 |  | 89,745 |  | 349,605 |  | 474,390
• PIS and COFINS recoverable Lease liabilities were measured at the amount of consideration with suppliers, that is, without considering the tax credits incurred after payment. We show below the potential right of PIS and COFINS embedded in the lease liability.
| 12/31/2019
| Consolidated
Leases | 1,489,789
Present value adjustment - Leases | (1,026,919)
Potencial PIS and COFINS credit | 137,805
Present value adjustment – Potential PIS and COFINS credit | (96,461)
· Payments of leases not recognized as liabilities: The Company chose not to recognize lease liabilities in contracts with a maturity of less than twelve months and for assets with low value. The realized payments to these contracts are recognized as expenses, when incurred. The Company has lease agreements for the use of ports (TECAR) and railways (FTL) which, even if they establish minimum performance, cannot determine their cash flow since these payments are fully variable and will only be known when they occur. In such cases, payments will be recognized as expenses when incurred Expenses related to payments not included in the measurement of a lease liability during the actual exercise are:
| Consolidated
| 12/31/2019
Contract less than 12 months | 10,819
Lower Assets value | 3,853
Variable lease payments | 177,460
| 192,132
In accordance with the guidelines of IFRS 16, the Company uses the discounted cash flow technique to measure and remeasure liabilities and right to use, without considering the projected inflation in the flows to be discounted.

X
- Definition The disclosure of trade and other payables. [Refer: Trade and other payables] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2019-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2019-en-r&anchor=para_10_e&doctype=Standard -URIDate 2019-03-27 + Details
Name: | ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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