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22. RELATED-PARTY BALANCES AND TRANSACTIONS | 12 Months Ended
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Dec. 31, 2020
Disclosure of transactions between related parties [abstract] |
RELATED-PARTY BALANCES AND TRANSACTIONS |
22. | RELATED-PARTY BALANCES AND TRANSACTIONS
22.a)Transactions | with holding companies
Vicunha Aços SA is the main shareholder of the Company with a 49.24% interest in the voting capital. Also part of the Company’s control is Rio Iaco Participações SA, which holds a 4.22% interest in the voting capital of CSN. The corporate structure of Vicunha Aços SA is as follows:
| - | Vicunha Steel S.A. - holds 67.93% interest in Vicunha Aços S.A.;
| - | CFL Participações S.A. - holds a 12.82% interest in Vicunha Aços S.A. and a 40% interest in Vicunha Steel S.A.;
| - | Rio Purus Participações S.A. - holds a 19.25% interest in Vicunha Aços S.A. and a 60% interest in Vicunha Steel S.A.
· | Liabilities
As of December 31, 2020, the distribution of mandatory minimum dividend in the amount of R$443,694 to the shareholder Vicunha Aços SA and R$37,997 to Rio Iaco Participações SA was proposed, which will be submitted for approval at the Annual Shareholders’ Meeting.
22.b) | Transactions with subsidiaries, joint ventures, associates, exclusive founds and other related parties
|  | Consolidated
|  | 12/31/2020 |  | 12/31/2019
|  | Subsidiaries and associates |  | Joint-ventures e Joint Operation |  | Other related parties |  | Total |  | Subsidiaries and associates |  | Joint-ventures e Joint Operation |  | Other related parties |  | Total
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investments | (1) |  |  |  |  | 3,763,603 |  | 3,763,603 |  |  |  |  |  | 2,116,560 |  | 2,116,560
Trade receivables (note 6) | (2) | 7,686 |  | 8 |  | 113,482 |  | 121,176 |  | 39,435 |  | 797 |  | 130,356 |  | 170,588
Dividends receivable (note 9) | (3) |  |  | 38,088 |  |  |  | 38,088 |  |  |  | 44,554 |  |  |  | 44,554
Other current assets (note 9) |  |  |  | 4,413 |  | 1,829 |  | 6,242 |  |  |  |  |  | 1,830 |  | 1,830
|  | 7,686 |  | 42,509 |  | 3,878,914 |  | 3,929,109 |  | 39,435 |  | 45,351 |  | 2,248,746 |  | 2,333,532
Noncurrent Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investments | (1) |  |  |  |  | 123,409 |  | 123,409 |  |  |  |  |  | 95,719 |  | 95,719
Loans (note 9) | (4) | 3,375 |  | 962,675 |  |  |  | 966,050 |  | 1,874 |  | 844,426 |  |  |  | 846,300
Actuarial asset (note 30) |  |  |  |  |  | 13,819 |  | 13,819 |  |  |  |  |  | 13,714 |  | 13,714
Other non-current assets (note 9) | (5) |  |  | 664,020 |  |  |  | 664,020 |  |  |  | 428,672 |  |  |  | 428,672
|  | 3,375 |  | 1,626,695 |  | 137,228 |  | 1,767,298 |  | 1,874 |  | 1,273,098 |  | 109,433 |  | 1,384,405
|  | 11,061 |  | 1,669,204 |  | 4,016,142 |  | 5,696,407 |  | 41,309 |  | 1,318,449 |  | 2,358,179 |  | 3,717,937
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Intercompany Loans (note 13) |  |  |  |  |  |  |  |  |  |  |  |  |  | 25,038 |  | 25,038
Trade payables |  |  |  | 106,946 |  | 9,455 |  | 116,401 |  |  |  | 98,496 |  | 142,488 |  | 240,984
Accounts payable (note 15) |  |  |  | 23,555 |  | 2,437 |  | 25,992 |  |  |  | 23,566 |  |  |  | 23,566
Provision for consumption (note 15) |  |  |  | 44,466 |  |  |  | 44,466 |  |  |  | 22,497 |  |  |  | 22,497
|  |  |  | 174,967 |  | 11,892 |  | 186,859 |  |  |  | 144,559 |  | 167,526 |  | 312,085
Noncurrent Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable (note 15) |  |  |  | 78,083 |  |  |  | 78,083 |  |  |  | 88,021 |  |  |  | 88,021
Actuarial liability (note 30) |  |  |  |  |  | 79,546 |  | 79,546 |  |  |  |  |  | 19,788 |  | 19,788
|  |  |  | 78,083 |  | 79,546 |  | 157,629 |  |  |  | 88,021 |  | 19,788 |  | 107,809
|  |  |  | 253,050 |  | 91,438 |  | 344,488 |  |  |  | 232,580 |  | 187,314 |  | 419,894
|  | 12/31/2020 |  | 12/31/2019 |  | 12/31/2018
|  | Subsidiaries and associates |  | Joint-ventures e Joint Operation |  | Other related parties |  | Total |  | Subsidiaries and associates |  | Joint-ventures e Joint Operation |  | Other related parties |  | Total |  | Subsidiaries and associates |  | Joint-ventures e Joint Operation |  | Other related parties |  | Total
P&L |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales |  | 104,400 |  | 843 |  | 1,568,992 |  | 1,674,235 |  | 75,630 |  |  |  | 1,047,204 |  | 1,122,834 |  | 100,608 |  | 414 |  | 1,177,730 |  | 1,278,751
Cost and expenses |  |  |  | (1,036,420) |  | (104,212) |  | (1,140,632) |  | (231,140) |  | (1,133,142) |  | (594,676) |  | (1,958,958) |  |  |  | (1,307,695) |  | (110,587) |  | (1,418,282)
Financial income (expenses) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest (note 28) |  |  |  | 19,095 |  | 18,421 |  | 37,516 |  |  |  | 43,790 |  | 20,499 |  | 64,289 |  | 234 |  | 33,911 |  | 14,651 |  | 48,796
Exchange rate variations and monetary, net |  |  |  |  |  |  |  |  |  |  |  |  | 3,586 |  | 3,586 |  |  |  |  |  | 13,611 |  | 13,611
Financial investments (note 28) |  |  |  |  |  | 1,190,489 |  | 1,190,489 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other operating income and expenses |  |  |  |  |  |  |  |  |  |  |  | (14,939) |  | (136,004) |  | (150,943) |  |  |  |  |  |  |  | -
|  | 104,400 |  | (1,016,482) |  | 2,673,690 |  | 1,761,608 |  | (155,510) |  | (1,104,291) |  | 340,609 |  | (919,192) |  | 100,842 |  | (1,273,369) |  | 1,095,404 |  | (77,123)
Main operations:
| 1. | Financial investments: Investments in Usiminas shares are R$3,305,109 (R$2,114,620 in December 2019) and cash and cash equivalents with Banco Fibra totaling R$458,494 in December 2020 (R$1,940 in December 2019) and no current amount R$123,409 (R$95,719 in December 2019) from Bonds with an average rate of 98% to 115% of the CDI in the consolidated and holds in the parent company through exclusive funds’ investments in government bonds and CDBs in the amount of R$38,517 on December 31, 2020 (R$8,301 on December 31, 2019).
| 2. | Trades receivable: mainly refers to operations of sales of steel products of the Parent Company to affiliates and companies joint venture and joint-operation.
| 3. | Dividends receivable from MRS Logística of R$38,088 (R$44,554 as of December 31, 2019).
| 4. | Loans (Assets): refers mainly to loan agreements with an average rate of 125.0% to 130.0% of the CDI with Transnordestina Logística SA of R$962,675 (R$844,426 as of December 31, 2019).
| 5. | Others (Assets): Advance for future capital increase with subsidiaries of R$664,020 with Transnordestina Logística SA (R$428,672 on December 31, 2019).
22.c) | Other unconsolidated related parties
· | CBS Social Security
The Company is its main sponsor, being a non-profit civil society established in July 1960 and whose main objective is the payment of benefits complementary to those of the official social security for the participants. As a sponsor, it maintains transactions for payment of contributions and recognition of actuarial liabilities determined in defined benefit plans.
· | Banco Fibra
Banco Fibra is under the control structure of Vicunha Aços S.A., the major shareholder 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.
· | CSN Foundation
The Company develops socially responsible policies concentrated in the CSN Foundation, of which it is the founder. Transactions between the parties are related to operational and financial support for the Foundation to conduct social projects developed mainly in the locations where it operates.
· | Related Parties under the control of a member of the Company’s Management
The following companies are under the control of a member of the Management, which maintain some minor transactions with the Company:
· | Partifib Projetos Imobiliários Ltda
· | Vicunha Imóveis Ltda.
· | Vicunha Serviços Ltda.
· | Ibis Participações e Serviços Ltda
22.d) | Key management personal
The key management personnel with authority and responsibility for planning, directing and controlling the Company’s activities include members of the Board of Directors and statutory officers. The following is information on the compensation of such personnel and the related balances as of December 31, 2020.
|  | P&L
|  | 12/31/2020 |  | 12/31/2019 |  | 12/31/2018
Short-term benefits for employees and officers |  | 40,522 |  | 37,452 |  | 32,848
Post-employment benefits |  | 111 |  | 109 |  | 105
|  | 40,633 |  | 37,561 |  | 32,953
22.e) | Guarantees
The Company is liable for guarantees of its subsidiaries and joint ventures as follows:
| Currency |  | Maturities |  | Borrowings | Tax foreclosure | Others | Total
|  |  |  |  | 12/31/2020 |  | 12/31/2019 |  | 12/31/2020 |  | 12/31/2019 |  | 12/31/2020 |  | 12/31/2019 |  | 12/31/2020 |  | 12/31/2019
Transnordestina Logísitca | R$ |  | Up to 09/19/2056 and Indefinite |  | 2,478,105 |  | 2,428,194 |  | 35,496 |  | 37,406 |  | 3,298 |  | 8,702 |  | 2,516,899 |  | 2,474,302
FTL - Ferrovia Transnordestina | R$ |  | Up to 04/01/2021 |  |  |  | 43,118 |  |  |  |  |  |  |  |  |  |  |  | 43,118
Cia Metalurgica Prada | R$ |  | Indefinite |  |  |  |  |  | 196 |  | 457 |  | 244 |  | 235 |  | 440 |  | 692
CSN Energia | R$ |  | Up to 11/26/2023 and indefinite |  |  |  |  |  |  |  | 3,141 |  | 1,920 |  | 1,920 |  | 1,920 |  | 5,061
CSN Mineração | R$ |  | Up to 12/21/2024 |  | 846,749 |  | 1,184,048 |  |  |  |  |  |  |  |  |  | 846,749 |  | 1,184,048
Estanho de Rondônia | R$ |  | 7/15/2022 |  | 1,154 |  | 1,902 |  |  |  |  |  |  |  |  |  | 1,154 |  | 1,902
Minérios Nacional S.A. | R$ |  | Up to 09/10/2021 |  | 1,946 |  | 4,544 |  |  |  |  |  |  |  |  |  | 1,946 |  | 4,544
Total in R$ |  |  |  |  | 3,327,954 |  | 3,661,806 |  | 35,692 |  | 41,004 |  | 5,462 |  | 10,857 |  | 3,369,108 |  | 3,713,667
CSN Inova Ventures | US$ |  | 01/28/2028 |  | 1,300,000 |  |  |  |  |  |  |  |  |  |  |  | 1,300,000 |  |
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 |  | 1,525,000 |  | 1,958,603 |  |  |  |  |  |  |  |  |  | 1,525,000 |  | 1,958,603
Total in US$ |  |  |  |  | 3,825,000 |  | 2,958,603 |  |  |  |  |  |  |  |  |  | 3,825,000 |  | 2,958,603
CSN Steel S.L. | EUR |  |  |  |  |  | 24,000 |  |  |  |  |  |  |  |  |  |  |  | 24,000
Total in EUR |  |  |  |  |  |  | 24,000 |  |  |  |  |  |  |  |  |  |  |  | 24,000
Total in R$ |  |  |  |  | 19,877,378 |  | 12,033,973 |  |  |  |  |  |  |  |  |  | 19,877,378 |  | 12,033,973
|  |  |  |  | 23,205,332 |  | 15,695,779 |  | 35,692 |  | 41,004 |  | 5,462 |  | 10,857 |  | 23,246,486 |  | 15,747,640
Accounting Policy Transactions with related parties were carried out by the Company on terms equivalent to those prevailing in market transactions, observing the price and the usual market conditions. Therefore, these transactions are in conditions that are no less favorable for the Company than those negotiated with third-parties. Transactions between the Parent and its subsidiaries are eliminated and adjusted to ensure consistency with the practices adopted by the Parent. The Company’s related parties are subsidiaries, joint ventures, affiliates, shareholders and their related companies and the key personnel of the Company’s management

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