XML 44 R11.htm IDEA: XBRL DOCUMENT v3.24.1.u1
TRADE RECEIVABLES
 12 Months Ended
Dec. 31, 2023
Notes and other explanatory information [abstract]  
TRADE RECEIVABLES

6.      TRADE RECEIVABLES

 

     
      Consolidated
  12/31/2023   12/31/2022
Trade receivables      
Third parties      
Domestic market 1,525,773   1,636,804
Foreign market 1,801,677   1,720,056
  3,327,450   3,356,860
Estimated losses on doubtful debts (226,053)   (232,830)
  3,101,397   3,124,030
Related parties (Note 22 b)  168,367   109,134
  3,269,764   3,233,164

 

The composition of the gross balance of accounts receivable from third party customers is shown as follows:

 

       
        Consolidated
    12/31/2023   12/31/2022
Current    2,938,483    2,934,057
Past-due up to 30 days    129,846    163,959
Past-due up to 180 days   36,568   54,452
Past-due over 180 days    222,553    204,392
     3,327,450    3,356,860

 

The changes in expected credit losses are as follows:

 

       
        Consolidated
    12/31/2023   12/31/2022
Opening balance   (232,830)   (236,927)
Loss estimated     (2,959)     (87)
Recovery and write-offs of receivables      9,736   13,197
Consolidation in the acquisition of companies         (9,013)
Closing balance   (226,053)   (232,830)

 

Accounting Policy

 

Accounts receivable are initially recognized by the transaction price, provided they do not contain financing components, and subsequently measured at amortized cost. When applicable, it is adjusted to present value including the respective taxes and ancillary expenses, and customer credits, in foreign currency, are restated at the exchange rate on the date of the financial statements.

 

The Company measures credit losses annually expected for the instrument, where it considers all possible loss events over the lifetime of its receivables, using a loss rate matrix by maturity range adopted by the Company, from the initial moment (recognition) of the asset. This model considers the customer’s history, default rate, financial situation and the position of its legal advisors to estimate expected credit losses.

 

The Company performs operations relating to assignment of receivables without co-obligation in which, after the assignment of trade notes/bills from the customer and receipt of funds arising from the closing of each operation, CSN settles the accounts receivable and relieves itself entirely of the operation’s credit risk.