NOTE 11 — GOODWILL
The changes in goodwill are as follows:
|
|
|
Goodwill |
|
Accumulated |
|
Goodwill after |
|
|
Balance as of January 1, 2015 |
|
12,834,998 |
|
(278,594 |
) |
12,556,404 |
|
|
|
|
|
|
|
|
|
|
|
(+/-) Foreign exchange effect |
|
5,264,188 |
|
(167,679 |
) |
5,096,509 |
|
|
(-) Impairment (note 28) |
|
— |
|
(2,528,483 |
) |
(2,528,483 |
) |
|
|
|
|
|
|
|
|
|
|
Balance as of December 31, 2015 |
|
18,099,186 |
|
(2,974,756 |
) |
15,124,430 |
|
|
|
|
|
|
|
|
|
|
|
(+/-) Foreign exchange effect |
|
(2,645,368 |
) |
63,516 |
|
(2,581,852 |
) |
|
(-) Impairment (note 28) |
|
— |
|
(2,678,582 |
) |
(2,678,582 |
) |
|
(-) Effect of selling of subsidiary |
|
(393,980 |
) |
— |
|
(393,980 |
) |
|
|
|
|
|
|
|
|
|
|
Balance as of December 31, 2016 |
|
15,059,838 |
|
(5,589,822 |
) |
9,470,016 |
|
|
|
|
|
|
|
|
|
|
|
(+/-) Foreign exchange effect |
|
242,510 |
|
(169,979 |
) |
72,531 |
|
|
(-) Impairment (note 28) |
|
— |
|
(849,438 |
) |
(849,438 |
) |
|
(-) Assets held for sale (note 3.4) |
|
(801,967 |
) |
— |
|
(801,967 |
) |
|
|
|
|
|
|
|
|
|
|
Balance as of December 31, 2017 |
|
14,500,381 |
|
(6,609,239 |
) |
7,891,142 |
|
|
|
|
|
|
|
|
|
|
The amounts of goodwill by segment are as follows:
|
|
|
2017 |
|
2016 |
|
2015 |
|
|
Brazil |
|
373,135 |
|
380,644 |
|
519,327 |
|
|
Special Steel |
|
2,487,364 |
|
2,508,056 |
|
3,409,429 |
|
|
North America |
|
5,030,643 |
|
6,581,316 |
|
11,195,674 |
|
|
|
|
|
|
|
|
|
|
|
|
|
7,891,142 |
|
9,470,016 |
|
15,124,430 |
|
|
|
|
|
|
|
|
|
|