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28. FINANCIAL INCOME (EXPENSES) (Tables)

12 Months Ended

Dec. 31, 2020

Financial Income

Schedule of financial income (expenses)

						Consolidated
		12/31/2020		12/31/2019		12/31/2018
Financial income
Related parties (note 22 b)		51,124		79,228		64,888
Income from financial investments		58,061		93,471		111,235
Updated shares – Fair value through profit or loss (Note 14 II) ⁽¹⁾		1,190,489		-		-
Other income (2)		503,054		206,343		1,134,391
		1,802,728		379,042		1,310,514
Financial expenses
Borrowings and financing - foreign currency (note 13 b)		(1,600,973)		(1,128,520)		(988,821)
Borrowings and financing - local currency (note 13 b)		(401,079)		(867,785)		(1,020,867)
Related parties		(13,608)		(14,939)		(16,092)
Lease liabilities		(50,804)		(49,118)		-
Capitalised interest (notes 11 and 33)		92,506		117,189		71,611
Interest and fines		(290,673)		(158,794)		(71,100)
(-) Adjustment present value of trade payables		(139,566)		-		-
Commission, bank fees, Guarantee and bank fees		(162,085)		(217,784)		(182,179)
PIS/COFINS over financial income		(39,149)		(25,176)		(84,404)
Other financial expenses		(270,764)		(217,864)		19,614
		(2,876,195)		(2,562,791)		(2,272,238)
Others financial items, net
Foreign exchange and monetary variation, net		392,971		47,579		(533,918)
Gains and (losses) on exchange derivatives (*)		(115,815)		4,986		(1)
		277,156		52,565		(533,919)
		(2,599,039)		(2,510,226)

Financial income (expenses), net		(796,311)		(2,131,184)		(1,495,643)

*() Statement of gains and (losses) on derivative transactions (note 14)**
Exchange rate swap Dollar x Euro		(9,070)		783		(1)
Exchange rate swap GBP x Euro		(602)
Exchange rate swap CDI x Dollar		(106,143)		4,203
		(115,815)		4,986		(1)

(1)	It refers to the appreciation of Usiminas’ shares in the amount of R$1,190,489 as of December31, 2020. As of December 31, 2019, Usiminas’ shares were reclassified to financial investments and their pricing fluctuation started to be recognized in the financial result.

(2)	It mainly refers to the recognition of the exclusion of ICMS in the PIS and COFINS calculation base in the amount of R$81,758 on December 31, 2020 (R$160,609 on December 31, 2019) in the Consolidated, and updating in the amount of R$369,571 of receivables for indemnity (see note 9).