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OTHER PAYABLES
 12 Months Ended
Dec. 31, 2021
OTHER PAYABLES

 

16.OTHER PAYABLES

 

The other obligations classified in current and non-current liabilities have the following composition:

 

              Consolidated
  Current Non-current
  12/31/2021   12/31/2020   12/31/2021   12/31/2020
Payables to related parties (note 23 b) 50,624   70,458   66,607   78,083
Derivative financial instruments (note 15 I)     8,722   101,822   97,535
Dividends and interest on capital (note 15 I) 1,206,870   946,133        
Advances from customers (1) 2,140,783   1,100,772   947,896   1,725,838
Taxes in installments 51,999   45,331   152,420   160,247
Profit sharing - employees 223,885   150,341        
Taxes payable         10,378   38,493
Provision for consumption and services 216,692   175,242        
Third party materials in our possession 418,084   84,832        
Trade payables - Drawee Risk and forfaiting (note 18) 4,439,967   623,861        
Trade payables (note 18)                                           98,625   543,527
Lease Liabilities (note 17)      119,047          93,626   492,504   436,505
Other payables        36,703          58,321   77,912   65,108
  8,904,654   3,357,639   1,948,164   3,145,336

 

 

1.Advances from customers: During 2019, the Company received in advance, through its subsidiary CSN Mineração, the total amount of US$746 million (R$2,907 million) related to supply contracts for approximately 33 million tons of iron ore signed with an important international player, the term for the execution of the contracted volumes is 5 years. On July 16, 2020, the Company concluded the contract for the additional supply of approximately 4 million tons of iron ore, and the amount received in advance, on August 28, 2020, was US$ 115 million (R$629 million). The term for the execution of the contract is 3 years.

 

Price adjustment overpayments made as a result of the provisional price charged when invoices were issued, subject to adjustments based on the Platts index for the period determined in the sales contract. With the recent fall of the Platts index, the subsidiary CSN Mineração recognized on December 31, 2021, the amount of R$1.1 billion in advance payments from customers.