NOTE 9 — INVESTMENTS
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Joint ventures |
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Associate companies |
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Joint ventures |
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Gerdau Corsa |
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Gerdau Metaldom |
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Gerdau Summit |
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Diaco S.A. |
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Dona Francisca |
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Armacero |
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Corsa |
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Corporación |
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Others |
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Total |
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Balance as of January 1, 2015 |
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40,152 |
|
109,930 |
|
364,281 |
|
— |
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— |
|
124,211 |
|
20,251 |
|
298,409 |
|
435,568 |
|
1,581 |
|
1,394,383 |
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Equity in earnings |
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14,432 |
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(88,690 |
) |
38,485 |
|
— |
|
— |
|
11,725 |
|
(1,933 |
) |
(7,574 |
) |
9,053 |
|
— |
|
(24,502 |
) |
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Cumulative Translation Adjustment |
|
11,265 |
|
27,021 |
|
173,079 |
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— |
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— |
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— |
|
2,611 |
|
68,733 |
|
134,749 |
|
503 |
|
417,961 |
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Capital increase |
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— |
|
40,524 |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
|
40,524 |
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Impairment of assets |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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(361,786 |
) |
— |
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(361,786 |
) |
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Control acquisition |
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— |
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— |
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— |
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— |
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— |
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— |
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(20,929 |
) |
— |
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— |
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— |
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(20,929 |
) |
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Dividends/Interest on equity |
|
(5,116 |
) |
— |
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— |
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— |
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— |
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(46,341 |
) |
— |
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— |
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(1,312 |
) |
— |
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(52,769 |
) |
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Balance as of December 31, 2015 |
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60,733 |
|
88,785 |
|
575,845 |
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— |
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— |
|
89,595 |
|
— |
|
359,568 |
|
216,272 |
|
2,084 |
|
1,392,882 |
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Equity in earnings |
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13,533 |
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(96,306 |
) |
16,362 |
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— |
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— |
|
17,780 |
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— |
|
12,155 |
|
23,705 |
|
— |
|
(12,771 |
) |
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Cumulative Translation Adjustment |
|
(9,492 |
) |
(11,748 |
) |
(88,051 |
) |
— |
|
— |
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— |
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— |
|
(105,420 |
) |
(36,134 |
) |
(350 |
) |
(251,195 |
) |
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Effect of selling of subsidiary (note 3.4) |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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(203,843 |
) |
(1,734 |
) |
(205,577 |
) |
|
Dividends/Interest on equity |
|
(8,282 |
) |
— |
|
(99,634 |
) |
— |
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— |
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(16,579 |
) |
— |
|
— |
|
— |
|
— |
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(124,495 |
) |
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Balance as of December 31, 2016 |
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56,492 |
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(19,269 |
) |
404,522 |
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— |
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— |
|
90,796 |
|
— |
|
266,303 |
|
— |
|
— |
|
798,844 |
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Equity in earnings |
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5,725 |
|
(110,773 |
) |
33,505 |
|
15,460 |
|
8,048 |
|
19,971 |
|
— |
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(6,533 |
) |
— |
|
— |
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(34,597 |
) |
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Cumulative Translation Adjustment |
|
5,081 |
|
(33,078) |
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(7,606 |
) |
— |
|
1,346 |
|
— |
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— |
|
17,512 |
|
— |
|
— |
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(16,745 |
) |
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Capital increase |
|
— |
|
178,670 |
|
— |
|
184,187 |
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— |
|
— |
|
— |
|
— |
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— |
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— |
|
362,857 |
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Joint venture creation (note 3.2) |
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— |
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— |
|
— |
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— |
|
145,084 |
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— |
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— |
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— |
|
— |
|
— |
|
145,084 |
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Contingent price complement |
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— |
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— |
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— |
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— |
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— |
|
65,500 |
|
— |
|
— |
|
— |
|
— |
|
65,500 |
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|
Dividends/Interest on equity |
|
(14,050 |
) |
— |
|
— |
|
— |
|
— |
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(26,594 |
) |
— |
|
— |
|
— |
|
— |
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(40,644 |
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Balance as of December 31, 2017 |
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53,248 |
|
15,550 |
|
430,421 |
|
199,647 |
|
154,478 |
|
149,673 |
|
— |
|
277,282 |
|
— |
|
— |
|
1,280,299 |
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