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FINANCIAL INCOME (EXPENSES)
 12 Months Ended
Dec. 31, 2021
FINANCIAL INCOME (EXPENSES)

 

29.FINANCIAL INCOME (EXPENSES)

 

            Consolidated
    12/31/2021   12/31/2020   12/31/2019
Financial income            
Related parties (note 23 b)                     93,862                     51,124                     79,228
Income from financial investments                    279,467                     58,061                     93,471
Updated shares – Fair value through profit or loss (Note 15 II)(1)                     385,297                 1,190,489                               
Other income(2)                    408,558                    503,054                    206,343
Financial income                  1,167,184                 1,802,728                    379,042
Financial expenses            
Borrowings and financing - foreign currency (note 14)                (1,590,120)                (1,600,973)                (1,128,520)
Borrowings and financing - local currency (note 14)                   (503,849)                   (401,079)                   (867,785)
Related parties  (note 14)                    (12,072)                    (13,608)                    (14,939)
Lease liabilities                    (59,260)                    (50,804)                    (49,118)
Capitalised interest (notes 12 and 34)                     87,414                     92,506                    117,189
Interest and fines                   (199,566)                   (290,673)                   (158,794)
(-) Adjustment present value of trade payables                   (265,495)                   (139,566)                               
Commission, bank fees, Guarantee and bank fees                   (145,129)                   (162,085)                   (217,784)
PIS/COFINS over financial income                    (88,897)                    (39,149)                    (25,176)
Other financial expenses                   (380,154)                   (270,764)                   (217,864)
Financial expenses                 (3,157,128)                (2,876,195)                (2,562,791)
Others financial items, net            
Foreign exchange and monetary variation, net                     46,199                    392,971                     47,579
Gains and (losses) on exchange derivatives (*)                         (439)                   (115,815)                       4,986
Others financial                      45,760                    277,156                     52,565
Financial income (expenses)                 (3,111,368)                (2,599,039)                (2,510,226)
             
Financial income (expenses), net                (1,944,184)                   (796,311)                (2,131,184)
             
(*) Statement of gains and (losses) on derivative transactions (note 15)            
Dollar - to - real NDF                     37,322                                                              
Exchange rate swap Dollar x Euro                        7,119                      (9,070)                          783
Exchange rate swap GBP x Euro                                                         (602)                               
Interest rate swap CDI x IPCA                    (34,920)        
Exchange rate swap CDI x Dollar                       (9,960)                   (106,143)                       4,203
 Total                         (439)                   (115,815)                       4,986

 

(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), and updating in the amount of R$369,571 of receivables for indemnity (see note 9).