2004 Gerdau Annual Report

72 73
METALÚRGICA GERDAU S.A.
Liabilities and Shareholder’s Equity Company Consolidated
2004 2003 2004 2003
Current Liabilities
Trade accounts payable.................................................................. 63 4 1,921,424 1,191,065
Financing..................................................................................... note 14 - - 2,027,865 2,461,299
Debentures................................................................................... note 15 - 624 2,986 3,651
Taxes and contributions payable.................................................... note 18 2,247 3,537 391,185 178,442
Related parties............................................................................. note 21 266 - - -
Deferred income tax and social contribution on net income.............. note 9 - - 180,166 35,721
Salaries payable............................................................................ 4,218 7,364 259,919 156,289
Dividends payable......................................................................... note 23 158,374 73,524 338,972 165,722
Other accounts payable................................................................. 10,630 9,037 222,741 231,854
Total current liabilities.................................................................... 175,798 94,090 5,345,258 4,424,043
Long-term Liabilities
Financing..................................................................................... note 14 - - 3,490,374 3,396,085
Debentures................................................................................... note 15 - - 573,504 423,956
Provision for contingencies............................................................ note 20 664 1,800 240,964 223,015
Deferred income tax and social contribution on net income.............. note 9 85,540 44,315 699,119 532,263
Post-employment benefits.............................................................. note 22 - - 294,478 278,870
Other accounts payable................................................................. 40,825 44,541 292,664 263,689
Total long-term liabilities............................................................... 127,029 90,656 5,591,103 5,117,878
Minority Interest.................................................................... - - 4,894,561 2,864,824
Shareholders’ Equity
Capital......................................................................................... note 23 1,664,000 1,280,000 1,664,000 1,280,000
Capital reserves............................................................................ 10,842 10,659 10,842 10,659
Revenue reserves.......................................................................... 1,285,632 680,877 1,285,632 680,877
Retained earnings......................................................................... 560 560 560 560
Total shareholders’ equity.............................................................. 2,961,034 1,972,096 2,961,034 1,972,096
Shareholders’ Equity Including Minority Interest.................................. - - 7,855,595 4,836,920
Total liabilities and shareholders’ equity.................................... 3,263,861 2,156,842 18,791,956 14,378,841
The accompanying notes are an integral part of these financial statements.