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RELATED-PARTY BALANCES AND TRANSACTIONS | 12 Months Ended
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Dec. 31, 2023
Notes and other explanatory information [abstract] |
RELATED-PARTY BALANCES AND TRANSACTIONS |
| 22. | RELATED-PARTY BALANCES AND TRANSACTIONS
| 22.a) | Transactions with holding companies
Vicunha Aços S.A. is the Company’s controlling shareholder, with a 40.99% interest in its voting capital. Rio Iaco Participações S.A. also controls the Company, with a 3.45% and CFL Ana Participações S.A. with 10.25%, both interest in CSN’s voting capital. The corporate structure of Vicunha Aços S.A. is as follows:
| (a) | Vicunha Steel S.A. – holds a 100% interest in Vicunha Aços S.A.
| (b) | Rio Purus Participações S.A. – holds a 100% interest in Vicunha Steel S.A.
| · | Liabilities
At a meeting held on November 13, 2023, the Board of Directors approved the payment of interim dividends, to the profit reserve account, in the amount of R$985,000, corresponding to the value of R$0.742782969659389 per share. R$403,790 was paid to Vicunha Aços S.A., R$33,950 to Rio Iaco Participações S.A. and R$100,948 to CFL Ana Participações S.A. on November 31, 2023.
| 22.b) | Transactions with subsidiaries, jointly controlled entities, associates, exclusive funds and other related parties
Schedule of transactions with subsidiaries, jointly controlled entities, associates, exclusive funds and other related parties |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Consolidated
|  | 12/31/2023 |  | 12/31/2022
|  | Subsidiaries and associates |  | Joint-ventures and Joint Operation |  | Other related parties |  | Total |  | Subsidiaries and associates |  | Joint-ventures and Joint Operation |  | Other related parties |  | Total
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investments | (1) |  |  |  |  | 2,128,183 |  | 2,128,183 |  |  |  |  |  | 1,768,915 |  | 1,768,915
Trade receivables (note 6) | (2) | 34,441 |  | 2,658 |  | 131,268 |  | 168,367 |  | 48,236 |  | 1,182 |  | 59,716 |  | 109,134
Dividends (note 9) | (3) |  |  | 185,178 |  |  |  | 185,178 |  |  |  | 77,377 |  |  |  | 77,377
Loans (note 9) | (4) |  |  | 5,316 |  |  |  | 5,316 |  |  |  | 5,383 |  |  |  | 5,383
Other receivables (note 9) |  |  |  | 6,480 |  | 1,829 |  | 8,309 |  | 30 |  |  |  | 1,828 |  | 1,858
|  | 34,441 |  | 199,632 |  | 2,261,280 |  | 2,495,353 |  | 48,266 |  | 83,942 |  | 1,830,459 |  | 1,962,667
Non-current Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investments | (1) |  |  |  |  | 111,350 |  | 111,350 |  |  |  |  |  | 140,510 |  | 140,510
Loans (note 9) | (4) | 3,732 |  | 1,655,680 |  |  |  | 1,659,412 |  | 3,678 |  | 1,381,095 |  |  |  | 1,384,773
Actuarial asset (note 9) |  |  |  |  |  | 39,530 |  | 39,530 |  |  |  |  |  | 35,477 |  | 35,477
Other receivables (note 9) | (5) |  |  | 1,792,579 |  |  |  | 1,792,579 |  |  |  | 1,484,759 |  |  |  | 1,484,759
|  | 3,732 |  | 3,448,259 |  | 150,880 |  | 3,602,871 |  | 3,678 |  | 2,865,854 |  | 175,987 |  | 3,045,519
|  | 38,173 |  | 3,647,891 |  | 2,412,160 |  | 6,098,224 |  | 51,944 |  | 2,949,796 |  | 2,006,446 |  | 5,008,186
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade payables |  |  |  | 140,579 |  | 35,435 |  | 176,014 |  |  |  | 93,115 |  | 37,448 |  | 130,563
Accounts payable (note 22 b) |  | 46 |  | 22,378 |  |  |  | 22,424 |  |  |  | 23,555 |  | 24,134 |  | 47,689
Provision for consumption(note 22 b) |  |  |  | 7,227 |  |  |  | 7,227 |  |  |  | 61,398 |  |  |  | 61,398
|  | 46 |  | 170,184 |  | 35,435 |  | 205,665 |  |  |  | 178,068 |  | 61,582 |  | 239,650
Non-current Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  |  |  | 38,058 |  |  |  | 38,058 |  |  |  | 53,356 |  |  |  | 53,356
|  |  |  | 38,058 |  |  |  | 38,058 |  |  |  | 53,356 |  |  |  | 53,356
|  | 46 |  | 208,242 |  | 35,435 |  | 243,723 |  |  |  | 231,424 |  | 61,582 |  | 293,006
|  | Consolidated
|  | 12/31/2023 |  | 12/31/2022
|  | Subsidiaries and associates |  | Joint-ventures and Joint Operation |  | Other related parties |  | Total |  | Subsidiaries and associates |  | Joint-ventures and Joint Operation |  | Other related parties |  | Total
P&L |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales |  | 206,158 |  | 21,663 |  | 1,769,915 |  | 1,997,736 |  | 234,150 |  | 34,924 |  | 2,442,586 |  | 2,711,660
Cost and expenses |  | (2,581) |  | (2,135,810) |  | (301,503) |  | (2,439,894) |  | (66) |  | (1,538,194) |  | (216,110) |  | (1,754,370)
Financial income (expenses) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest (note 27) |  |  |  | 178,448 |  | 38,452 |  | 216,900 |  |  |  | 144,355 |  | 29,828 |  | 174,183
Exchange rate variations andmonetary, net |  |  |  |  |  | (58,837) |  | (58,837) |  |  |  |  |  | (13,584) |  | (13,584)
Financial investments | (1) |  |  |  |  | 308,309 |  | 308,309 |  |  |  |  |  | (1,198,164) |  | (1,198,164)
Other operating income and expenses |  |  |  | (8,893) |  |  |  | (8,893) |  |  |  |  |  |  |  |
|  | 203,577 |  | (1,944,592) |  | 1,756,336 |  | 15,321 |  | 234,084 |  | (1,358,915) |  | 1,044,556 |  | (80,275)
Consolidated Information:
| (1) | Financial investments: Refers mainly to investments in Usiminas shares, cash and cash equivalents and Bonds with Banco Fibra and government bonds and CDBs with the exclusive funds.
| (2) | Accounts receivables: Refers mainly to sales transactions of steel products from the Company to related parties.
| (3) | Dividends receivable: In the Consolidated, it refers to dividends from MRS Logística in the amount of R$106,747 on December 31, 2023 (R$77,377 on December 31, 2022).
| (4) | Loans (Assets): Long term: refers mainly to loan agreements with Transnordestina Logística R$1,646,264 (R$1,384,773 as of December 31, 2022) with an average rate of 125.0% to 130.0% of CDI.
| (5) | Others (Assets): refers advance for future capital increase with Transnordestina Logística S.A. of R$1,792,579 as of December 31, 2023 (R$1,484,759 as of December 31, 2022).
| (6) | Borrowings (Liabilities): Foreign currency: In the Parent Company these are intercompany contracts amounting to R$9.409,992 as of December 31, 2023 ((R$ 10,027,851 as of December 31, 2022).
| 22.c) | Other unconsolidated related parties
| · | CBS Previdência
The Company is its main sponsor, being a not-for-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 today 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;
| · | Party Negócios e Participações Ltda;
| · | Jockey Club de São Paulo;
| · | Fibra Sequoia Guarulhos Empreendimentos.
| 22.d) | Key management personnel
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, 2023 and 2022.
Schedule of key management personnel |  |  |  |  |  |
|  | 12/31/2023 |  | 12/31/2022 |  | 12/31/2021
|  | P&L
Short-term benefits for employees and officers |  | 62,478 |  | 52,001 |  | 46,747
Post-employment benefits |  | 450 |  | 266 |  | 192
Total compensation of personnel |  | 62,928 |  | 52,267 |  | 46,939
| 22.e) | Guarantees
The Company is liable for guarantees of its subsidiaries and jointly controlled entities as follows:
Schedule of guarantees |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Currency |  | Maturities |  | Borrowings | Tax foreclosure |  | Others | Total
|  |  |  |  | 12/31/2023 |  | 12/31/2022 |  | 12/31/2023 |  | 12/31/2022 |  | 12/31/2023 |  | 12/31/2022 |  | 12/31/2023 |  | 12/31/2022
Transnordestina Logísitca | R$ |  | Up to 09/19/2056 and Indefinite |  | 3,695,183 |  | 2,096,291 |  | 10,029 |  | 9,365 |  | 4,235 |  | 3,853 |  | 3,709,447 |  | 2,109,509
Group subsidiaries | R$ |  | Up to 12/21/2024 and indefinite |  | 1,903,235 |  |  |  |  |  | 197 |  | 131,920 |  | 2,163 |  | 2,035,155 |  | 2,360
CSN Mineração | R$ |  | Up to 12/21/2024 |  |  |  | 540,946 |  |  |  |  |  |  |  |  |  |  |  | 540,946
Total in R$ |  |  |  |  | 5,598,418 |  | 2,637,237 |  | 10,029 |  | 9,562 |  | 136,155 |  | 6,016 |  | 5,744,602 |  | 2,652,815
CSN Inova Ventures | US$ |  | 01/28/2028 |  | 1,300,000 |  | 1,300,000 |  |  |  |  |  |  |  |  |  | 1,300,000 |  | 1,300,000
CSN Resources | US$ |  | Up to 04/17/2026 |  | 1,530,000 |  | 1,150,000 |  |  |  |  |  |  |  |  |  | 1,530,000 |  | 1,150,000
CSN Cimentos | US$ |  | Indefinite |  | 115,000 |  | 115,000 |  |  |  |  |  |  |  |  |  | 115,000 |  | 115,000
Total in US$ |  |  |  |  | 2,945,000 |  | 2,565,000 |  |  |  |  |  |  |  |  |  | 2,945,000 |  | 2,565,000
Lusosider Aços Planos | EUR |  | Indefinite |  |  |  |  |  |  |  |  |  | 75,000 |  | 75,000 |  | 75,000 |  | 75,000
Total in EUR |  |  |  |  |  |  |  |  |  |  |  |  | 75,000 |  | 75,000 |  | 75,000 |  | 75,000
Total in R$ |  |  |  |  | 14,257,629 |  | 13,867,929 |  |  |  |  |  | 401,370 |  | 396,780 |  | 14,658,999 |  | 14,264,709
|  |  |  |  | 19,856,047 |  | 16,505,166 |  | 10,029 |  | 9,562 |  | 537,525 |  | 402,796 |  | 20,403,601 |  | 16,917,524
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 related parties are eliminated and adjusted to ensure consistency with the practices adopted by The Company. 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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