Vale S.A. | CIK:0000917851 | 3

  • Filed: 4/13/2018
  • Entity registrant name: Vale S.A. (CIK: 0000917851)
  • Generator: Merrill
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/917851/000104746918002777/0001047469-18-002777-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/917851/000104746918002777/vale-20171231.xml
  • XBRL Cloud Viewer: Click to open XBRL Cloud Viewer
  • EDGAR Dashboard: https://edgardashboard.xbrlcloud.com/edgar-dashboard/?cik=0000917851
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  • ifrs-full:DescriptionOfAccountingPolicyForContingentLiabilitiesAndContingentAssetsExplanatory

     

    A provision is recognized when is considered probable that an outflow of resources will be required to settle the obligation and can be reliably estimated. The liability is accounted against an expense in the income statement. This obligation is updated based on the developments of the judicial process or interest accretion and can be reversed if the expectation of loss is not considered probable  due to changes in circumstances or when the obligation is settled.