Investor Presentaiton
17. Investments
(a) Breakdown
Information on
December 31, 2021
Equivalence
result
Balance
Net income
(loss)
Equity
for the
semester
2021 2020 2021 2020
Investments accounted for
under the equity method
- Associates
Cementos Avellaneda S.A.
Alunorte Alumina do Norte
S.A.
1,380
247
2
(28) 825
717
3,775
430
13
(1)
115
107
IMIX Empreendimentos
Imobiliários Ltda.
14
6
1
2
3
3
Mineração Rio do Norte S.A.
900
(6)
(1)
(2)
90
92
Supermix Concreto S.A.
283
73
18
5
71
63
Jaguatirica Empreendimento
Imobiliário SPE S.A
226
7
11
6
112
Cementos Especiales de las
Islas S.A.
Others
239
54
27
20
120
113
(13)
100
92
Accounting policy
Investments in affiliates, subsidiaries and joint ventures are accounted for
using the equity method of accounting as of the date they become their
jointly controlled joint ventures and subsidiaries.
Affiliates are those entities in which the Company, directly or indirectly,
has significant influence, but not control or joint control over financial and
operating policies. In order to be classified as a jointly controlled entity,
there must be a contractual agreement that allows the Company to share
control of the entity and gives the Company the right to the net assets of
the jointly controlled entity, not the right to its specific assets and liabilities.
The Company also recognizes its assets in accordance with the venturer's
participation in the assets, liabilities, revenues and expenses of the control-
led entity on a proportional basis. This implies recognizing the venturer's
share of the assets, liabilities, income and expenses of the joint ventures by
adding such amounts to its own assets, liabilities, revenues and expenses by
the straight-line method, and including such amounts in corresponding to
the balance sheet and income statement of the same nature.
(i) Impairment of investments
For the calculation of the recoverable amounts of the investments, the
Company and its subsidiaries use criteria similar to those used to test goo-
dwill impairment.
Joint ventures
149
Citrosuco GmbH
5,973
368
135
249
4,043
Banco Votorantim S.A.
13,020
672
817
719
3,628
6,510 5,871
Citrosuco S.A. Agroindústria
(1,928)
(906) (469)
(602)
(713) (357)
Juntos Somos Mais
Fidelização S.A.
88
(32)
(15)
(4)
40
VTRM Energia Participações
S.A.
4,457
59
25
Others
34
585
308 2,361 2,076
55
126
173
727 13,691 12,698
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