16. Noncontrolling interest
a) Summarized financial information
The summarized financial information, prior to the eliminations of the intercompany balances and transactions, about subsidiaries with material noncontrolling interest are as follows:
|
|
|
December 31, 2017 |
|
||||||||||||
|
|
|
MBR |
|
PTVI |
|
VNC |
|
Vale Moçambique |
|
Compañia |
|
Others (ii) |
|
Total |
|
|
Current assets |
|
408 |
|
394 |
|
251 |
|
381 |
|
78 |
|
— |
|
|
|
|
Non-current assets |
|
3,041 |
|
1,586 |
|
2,046 |
|
1,653 |
|
436 |
|
— |
|
|
|
|
Related parties - Stockholders |
|
591 |
|
147 |
|
115 |
|
253 |
|
6 |
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets |
|
4,040 |
|
2,127 |
|
2,412 |
|
2,287 |
|
520 |
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities |
|
170 |
|
128 |
|
142 |
|
128 |
|
36 |
|
— |
|
|
|
|
Non-current liabilities |
|
288 |
|
237 |
|
202 |
|
32 |
|
97 |
|
— |
|
|
|
|
Related parties - Stockholders |
|
226 |
|
3 |
|
1,318 |
|
8,232 |
|
9 |
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities |
|
684 |
|
368 |
|
1,682 |
|
8,392 |
|
142 |
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders’ equity |
|
3,356 |
|
1,759 |
|
730 |
|
(6,105 |
) |
380 |
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity attributable to noncontrolling interests |
|
1,342 |
|
735 |
|
37 |
|
(1,101 |
) |
228 |
|
73 |
|
1,314 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) |
|
434 |
|
(15 |
) |
(572 |
) |
(659 |
) |
(11 |
) |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) attributable to noncontrolling interests |
|
174 |
|
(6 |
) |
(28 |
) |
(104 |
) |
(6 |
) |
(16 |
) |
14 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends paid to noncontrolling interests |
|
113 |
|
— |
|
— |
|
— |
|
— |
|
13 |
|
— |
|
(i) Discontinued operations
(ii) Dividends paid to noncontrolling interests relates to Vale Oman Pelletizing
|
|
|
December 31, 2016 |
|
||||||||||||
|
|
|
MBR |
|
PTVI |
|
VNC |
|
Vale Moçambique |
|
Compañia |
|
Others |
|
Total |
|
|
Current assets |
|
32 |
|
444 |
|
383 |
|
386 |
|
94 |
|
— |
|
|
|
|
Non-current assets |
|
3,182 |
|
1,668 |
|
2,101 |
|
1,796 |
|
429 |
|
— |
|
|
|
|
Related parties - Stockholders |
|
551 |
|
132 |
|
79 |
|
358 |
|
13 |
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets |
|
3,765 |
|
2,244 |
|
2,563 |
|
2,540 |
|
536 |
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities |
|
106 |
|
139 |
|
124 |
|
95 |
|
35 |
|
— |
|
|
|
|
Non-current liabilities |
|
198 |
|
261 |
|
177 |
|
29 |
|
99 |
|
— |
|
|
|
|
Related parties - Stockholders |
|
37 |
|
6 |
|
1,055 |
|
7,861 |
|
11 |
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities |
|
341 |
|
406 |
|
1,356 |
|
7,985 |
|
145 |
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders’ equity |
|
3,424 |
|
1,838 |
|
1,207 |
|
(5,445 |
) |
391 |
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity attributable to noncontrolling interests |
|
1,406 |
|
741 |
|
40 |
|
(272 |
) |
235 |
|
(168 |
) |
1,982 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) |
|
400 |
|
2 |
|
(807 |
) |
(541 |
) |
3 |
|
— |
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) attributable to noncontrolling interests |
|
165 |
|
1 |
|
(40 |
) |
(27 |
) |
2 |
|
(107 |
) |
(6 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends paid to noncontrolling interests |
|
262 |
|
— |
|
— |
|
— |
|
28 |
|
— |
|
— |
|
|
|
|
December 31, 2015 |
|
||||||||||||
|
|
|
MBR |
|
PTVI |
|
VNC |
|
Vale Moçambique |
|
Compañia |
|
Others |
|
Total |
|
|
Net income (loss) |
|
250 |
|
36 |
|
(1,916 |
) |
(3,766 |
) |
16 |
|
— |
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) attributable to noncontrolling interests |
|
66 |
|
15 |
|
(373 |
) |
(188 |
) |
10 |
|
(21 |
) |
(491 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends paid to noncontrolling interests |
|
— |
|
— |
|
— |
|
— |
|
40 |
|
— |
|
— |
|
(i) Discontinued operation
The stand-alone financial information may differ from the financial information reported herein, since they may be adjusted, when necessary to Vale’s accounting policies including eventual goodwill, provisional price adjustment, etc.
b) Acquisitions and divestments
In March 2017, the Company concluded the transaction with Mitsui to sell 15% of its stake in Vale Moçambique and 50% of its stake in the Nacala Logistics Corridor. After the completion of the transaction, the Company holds 81% of Vale Moçambique and shares control of the Nacala Logistic Corridor with Mitsui. Further details are disclosed in note 15.