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SHAREHOLDERS´ EQUITY | 12 Months Ended
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Dec. 31, 2021
SHAREHOLDERS´ EQUITY |
| 24. | SHAREHOLDERS´ EQUITY
| 24.a) | Paid-in capital
The fully subscribed and paid-in capital on December 31, 2021 was R$10,240 million (on December 31, 2020 - R$6,040 million) is divided into 1,387,524,047 common and book-entry shares, with no par value. Each common share entitles its holder to one vote in the resolutions of the General Meetings. The Board of Directors, at a meeting held on March 9, 2022, approved the capitalization of part of the income reserve, in the amount of R$4,200 million, without changing the number of shares, increasing the Company’s capital to R$10,240 million.
| 24.b) | Authorized capital
The Company’s bylaws in effect on December 31, 2021, define that the share capital may be increased to up to 2,400,000,000 shares, by decision of the Board of Directors.
| 24.c) | Legal Reserve
It is constituted at the rate of 5% of the net income calculated in each fiscal year pursuant to art. 193 of Law 6.404/76, up to a limit of 20% of the capital stock.
| 24.d) | Ownership structure
As of December 31, 2021 and 2020, the Company’s ownership structure was as follows:
|  |  |  |  |  | 12/31/2021 |  |  |  |  |  | 12/31/2020
|  | Number of common shares |  | % of total shares |  | % of voting capital |  | Number of common shares |  | % of total shares |  | % of voting capital
Vicunha Aços S.A. (*) |  | 679,522,254 |  | 48.97% |  | 50.65% |  | 679,522,254 |  | 48.97% |  | 49.24%
Rio Iaco Participações S.A. (*) |  | 45,706,242 |  | 3.29% |  | 3.41% |  | 58,193,503 |  | 4.19% |  | 4.22%
NYSE (ADRs) |  | 250,564,538 |  | 18.06% |  | 18.67% |  | 248,763,533 |  | 18.90% |  | 19.00%
Other shareholders |  | 365,941,013 |  | 26.38% |  | 27.27% |  | 393,635,257 |  | 27.41% |  | 27.55%
Outstanding shares |  | 1,341,734,047 |  | 96.70% |  | 100.00% |  | 1,380,114,547 |  | 99.47% |  | 100.00%
Treasury shares |  | 45,790,000 |  | 3.30% |  |  |  | 7,409,500 |  | 0.53% |  |
Total shares |  | 1,387,524,047 |  | 100.00% |  |  |  | 1,387,524,047 |  | 100.00% |  |
(*) |  | Controlling group companies.
| 24.e) | Treasury shares
As of December 31, 2021, the position of treasury shares was as follows:
Program |  | Board’s Authorization |  | Authorized quantity |  | Program period |  | Average buyback price |  | Minimum and maximum buyback price |  | Number bought back |  | Sale of shares |  | Balance in treasury
|  | 04/20/2018 |  | 30,391,000 |  | From 4/20/2018 to 4/30/2018 |  | Not applicable |  | Not applicable |  |  |  | 22,981,500 |  | 7,409,500
1º |  | 06/21/2021 |  | 24,154,500 |  | From 06/22/2021 to 12/22/2021 |  | R$ 21.82 |  | R$20.06 and R$23.22 |  | 24,082,000 |  |  |  | 31,491,500
2º |  | 6/12/2021 |  | 30,000,000 |  | From 12/07/2021 to 6/30/2022 |  | R$ 24.70 |  | R$23.94 and R$25.45 |  | 14,298,500 |  |  |  | 45,790,000
Schedule of position of treasury shares
Quantity purchased (in units) |  | Amount paid for the shares |  | Share price |  | Share market price as of 12/31/2021 (*)
|  | Minimum |  | Maximum |  | Average |
45,790,000 |  | R$ 936,930 |  | R$ 4.48 |  | R$ 25.45 |  | R$ 18.13 |  | R$ 1,144,292
(*) |  | The average share price on December 31, 2021, was used in the amount of R$24.99 per share.
| 24.f) | Earnings per share
The earnings per share are shown below:
| 12/31/2021 |  | 12/31/2020 |  | 12/31/2019
| Common Shares
Profit for the year | 12,258,628 |  | 3,794,295 |  | 1,789,067
Weighted average number of shares | 1,376,362,149 |  | 1,380,114,547 |  | 1,380,114,547
Basic and diluted earnings per share | 8.90654 |  | 2.74926 |  | 1.29632
Accounting Policy
Share Capital Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction from the amount raised, net of taxes. Earnings/(loss) per share Basic earnings per share is calculated using the net income for the year attributable to the Company’s controlling shareholders and the weighted average number of outstanding common shares in the respective period. Diluted earnings per share is calculated using the aforementioned average of outstanding shares, adjusted by instruments potentially convertible into shares, with a dilutive effect, in the periods presented. The Company does not have potential instruments convertible into shares and, consequently, the diluted and basic earnings per share are the same. Treasury shares When the Company purchases shares of the capital stock of the Company itself (treasury shares), the amount paid, including any directly attributable additional costs (net of income tax), is deducted from the shareholders’ equity attributable to the shareholders of the Company until the shares are canceled or reissued. When such shares are subsequently reissued, any amounts received, net of any directly attributable additional transaction costs and the respective income tax and social contribution effects, are included in the shareholders’ equity attributable to the Company’s shareholders. Result per share Basic and diluted earnings / loss per share was calculated based on the profit attributable to CSN’s controlling shareholders divided by the weighted average number of common shares outstanding during the period, excluding common shares purchased and held as treasury shares. The Company does not hold potentially dilutable common shares in circulation that could result in the dilution of earnings per share. Non-controlling interest and transactions The Company considers transactions with non-controlling interests as transactions with owners of the Company’s assets. For non-controlling interests, the difference between any consideration paid and the acquired portion of the carrying amount of the subsidiary's net assets is recorded in the shareholders' equity. Gains or losses on disposals for non-controlling interests are also recorded directly in shareholders' equity. When the Company ceases to have control, any interest held in the entity is remeasured at fair value, with the change in book value recognized in the income statement. The fair value is the initial carrying amount for the subsequent accounting of the retained interest in an associate, a joint venture, or a financial asset. In addition, any amounts previously recognized in other comprehensive income related to that entity are accounted for as if the Company had directly disposed of the related assets or liabilities. This means that the amounts previously recognized in other comprehensive income are reclassified to income.

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- Definition The entire disclosure for share capital, reserves and other equity interest. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2021-01-01 -Paragraph 79 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_79&doctype=Standard -URIDate 2021-03-24 + Details
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