2.0.0.10 false Commitments and contingencies 0220 - Disclosure - Commitments and contingencies true false false false 1 usd $ false false USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USDEPS Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 2 Commitments and contingencies [Abstract] 0 vale_CommitmentsAndContingenciesAbstract vale false na duration string No definition available. false false false false false true false false false false false false 1 false false false false 0 0 false false false No definition available. false 3 Commitments and contingencies 1 us-gaap_CommitmentsAndContingenciesDisclosureTextBlock us-gaap true na duration string No definition available. false false false false false false false false false false false verboselabel false 1 false false false false 0 0   <div style="margin-left: 0%"> <div style="margin-top: 12pt; font-size: 1pt">  </div> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff; text-align: left"> <tr> <td width="3%"></td> <td width="97%"></td> </tr> <tr valign="top"> <td> <b><font style="font-family: Arial, Helvetica">20 </font></b> </td> <td> <b><font style="font-family: Arial, Helvetica">Commitments and contingencies</font></b> </td> </tr> </table> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> <b>a) </b>In connection with a tax-advantaged lease financing arrangement sponsored by the French Government, we provided certain guarantees on behalf of Vale Inco New Caledônia (VINC) pursuant to which we guaranteed payments due from VINC of up to a maximum amount of US$100 (“Maximum Amount”) in connection with an indemnity. We also provided an additional guarantee covering the payments due from VINC of (a) amounts exceeding the Maximum Amount in connection with the indemnity and (b) certain other amounts payable by VINC under a lease agreement covering certain assets. </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> During the second quarter two new bank guarantees totaling US$62 (€43) were established by us on behalf of VINC in favour of the South Province of New Caledonia in order to guarantee the performance of VINC with respect to certain environmental obligations in relation to the metallurgical plant and the Kwe West residue storage facility. </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> Sumic Nickel Netherlands B.V., a 21% stockholder of VINC, has a put option to sell us 25%, 50%, or 100% of the shares they own of VINC. The put option can be exercised if the defined cost of the nickel-cobalt development project exceeds a value agreed between the shareholders at project rates and an agreement cannot be reached on how to proceed with the project. </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> We provided a guarantee covering certain termination payments due from VINC to the supplier under an electricity supply agreement (“ESA”) entered into in October 2004 for the VINC project. The amount of the termination payments guaranteed depends upon a number of factors, including whether any termination of the ESA is a result of a default by VINC and the date on which an early termination of the ESA were to occur. If VINC defaults under the ESA prior to the anticipated start date for supply of electricity to the project, the termination payment, which currently is at its maximum, would be US$209 (€145). Once the supply of electricity under the ESA to the project begins, the guaranteed amounts will decrease over the life of the ESA. </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> In February 2009, we and our subsidiary, Vale Inco Newfoundland and Labrador Limited (“VINL”), entered into a fourth amendment to the Voisey’s Bay Development agreement with the Government of Newfoundland and Labrador, Canada, that permitted VINL to ship up to 55,000 metric tons of nickel concentrate from the Voisey’s Bay area mines. As part of the agreement, VINL agreed to provide the Government of Newfoundland and Labrador financial assurance in the form of letters of credit each in the amount of Canadian US$17 (CAD$16) for each shipment of nickel concentrate shipped out of the province from January 1, 2009 to August 31, 2009. The amount of this financial assurance was Canadian US$118 (CAD$112) based on seven shipments of nickel concentrate and as of December 31, 2009, US$65 (CAD$62) remains outstanding. </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> As of December 31, 2009, there was an additional US$154 of letters of credit issued and outstanding as US$47 in additional bank guarantees. These are associated with environmental reclamation and other operating associated items such as insurance, electricity commitments and import and export duties. </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> <b>b) </b>We and our subsidiaries are defendants in numerous legal actions in the normal course of business. Based on the advice of our legal counsel, management believes that the amounts recognized are sufficient to cover probable losses in connection with such actions. </div>  <div style="margin-top: 0pt; font-size: 1pt"> </div> <div align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> </div> </div>   <div style="margin-left: 0%">  <div align="right" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> </div>  <div style="margin-top: 3pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> The provision for contingencies and the related judicial deposits are composed as follows: </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div style="margin-left: 3%; margin-right: 0%"> <table border="0" width="97%" align="center" cellpadding="0" cellspacing="0" style="font-size: 9pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff; text-align: left">  <tr style="font-size: 1pt" valign="bottom"> <td width="44%"> </td> <td width="1%"> </td> <td width="1%" align="right"> </td> <td width="11%" align="right"> </td> <td width="1%" align="left"> </td> <td width="1%"> </td> <td width="1%" align="right"> </td> <td width="11%" align="right"> </td> <td width="1%" align="left"> </td> <td width="1%"> </td> <td width="1%" align="right"> </td> <td width="11%" align="right"> </td> <td width="1%" align="left"> </td> <td width="1%"> </td> <td width="1%" align="right"> </td> <td width="11%" align="right"> </td> <td width="1%" align="left"> </td> </tr>   <tr style="font-size: 9pt" valign="bottom" align="center"> <td nowrap="nowrap" align="right" valign="bottom">   </td> <td>   </td> <td colspan="6" align="right" valign="bottom"> <b>2009 </b> </td> <td>   </td> <td>   </td> <td colspan="6" align="right" valign="bottom"> <b>2008 </b> </td> <td>   </td> </tr> <tr style="font-size: 9pt" valign="bottom" align="center"> <td nowrap="nowrap" align="right" valign="bottom">   </td> <td>   </td> <td colspan="2" nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000"> <b>Provision for<br /> </b> </td> <td style="border-top: 1px solid #000000">   </td> <td style="border-top: 1px solid #000000">   </td> <td colspan="2" nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000"> <b>Judicial<br /> </b> </td> <td style="border-top: 1px solid #000000">   </td> <td>   </td> <td colspan="2" nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000"> <b>Provision for<br /> </b> </td> <td style="border-top: 1px solid #000000">   </td> <td style="border-top: 1px solid #000000">   </td> <td colspan="2" nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000"> <b>Judicial<br /> </b> </td> <td style="border-top: 1px solid #000000">   </td> </tr> <tr style="font-size: 8pt" valign="bottom" align="center"> <td nowrap="nowrap" align="right" valign="bottom">   </td> <td>   </td> <td colspan="2" nowrap="nowrap" align="right" valign="bottom"> <b><font style="font-size: 9pt">contingencies</font></b> </td> <td>   </td> <td>   </td> <td colspan="2" nowrap="nowrap" align="right" valign="bottom"> <b><font style="font-size: 9pt">deposits</font></b> </td> <td>   </td> <td>   </td> <td colspan="2" nowrap="nowrap" align="right" valign="bottom"> <b><font style="font-size: 9pt">contingencies</font></b> </td> <td>   </td> <td>   </td> <td colspan="2" nowrap="nowrap" align="right" valign="bottom"> <b><font style="font-size: 9pt">deposits</font></b> </td> <td>   </td> </tr>  <tr valign="bottom" style="background: #cceeff"> <td align="left" valign="bottom"> <div style="text-indent: -9pt; margin-left: 9pt"> Labor and social security claims </div> </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000"> 657 </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000"> 657 </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000"> 458 </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000"> 378 </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" valign="bottom"> <div style="text-indent: -9pt; margin-left: 9pt"> Civil claims </div> </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 582 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 307 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 386 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 242 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td align="left" valign="bottom"> <div style="text-indent: -9pt; margin-left: 9pt"> Tax - related actions </div> </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 489 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 175 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 828 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 518 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" valign="bottom"> <div style="text-indent: -9pt; margin-left: 9pt"> Others </div> </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 35 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 4 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 13 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 3 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> <tr style="font-size: 1pt"> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>1,763</b> </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>1,143</b> </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>1,685</b> </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>1,141</b> </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> <tr style="font-size: 1pt"> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> </tr> <tr style="font-size: 1pt"> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom">   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom">   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom">   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom">   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> </table> </div> <div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> Labor and social security – related actions principally comprise claims by Brazilian employees and former employees for (i) payment of time spent traveling from their residence to the work-place, (ii) additional health and safety related payments and (iii) various other matters, often in connection with disputes about the amount of indemnities paid upon dismissal and the one-third extra holiday pay. </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> Civil – actions principally related to claims made against us by contractors in Brazil in connection with losses alleged to have been incurred by them as a result of various past Government economic plans during which full inflation indexation of contracts was not permitted, as well, as for accidents and land appropriation disputes. </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> Tax – tax-related actions principally comprise challenges initiated by us, on certain taxes on revenues and uncertain tax positions. We continue to vigorously pursue our interests in all the above actions but recognize that we probably will incur some losses in the final instance, for which we have made provisions. </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> Judicial deposits are made by us following the court requirements, in order to be entitled to either initiate or continue a legal action. These amounts are released to us, upon receipt of a final favorable outcome from the legal action; in the case of an unfavorable outcome, the deposits are transferred to the prevailing party. </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> Contingencies settled during the years ended December 31, 2009, 2008 and 2007, totaled US$236, US$148 and US$331, respectively. Provisions recognized in the years ended December 31, 2009, 2008 and 2007, totaled US$294, US$213 and US$364, respectively, classified as other operating expenses. </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> In addition to the contingencies for which we have made provisions we are defendants in claims where in our opinion, and based on the advice of our legal counsel, the likelihood of loss is possible but not probable, in the total amount of US$4,190 at December 31, 2009, and for which no provision has been made (December 31, 2008 – US$2,476). </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> <b>c) </b>At the time of our privatization in 1997, the Company issued debentures to its then-existing stockholders, including the Brazilian Government. The terms of the debentures, were set to ensure that the pre-privatization stockholders, including the Brazilian Government would participate in possible future financial benefits that could be obtained from exploiting certain mineral resources. </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> A total of 388,559,056 debentures were issued at a par value of R$0.01 (one cent), whose value will be restated in accordance with the variation in the General Market Price Index (IGP-M), as set forth in the Issue Deed. </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> The debentures holders have the right to receive premiums, paid semiannually, equivalent to a percentage of net revenues from specific mine resources as set forth in the indenture. </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> In September and April 2009 we paid remuneration on these debentures of US$4 and US$3, respectively. During 2009, we paid a total of US$7. </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> <b>d) </b>We are committed under a take-or-pay agreement to purchase approximately 30,425 thousand metric tons of bauxite from Mineração Rio do Norte S.A. – MRN at a formula driven price, calculated based on the current London Metal Exchange – LME quotation for aluminum. Based on a market price of US$28.71 per metric ton as of December 31, 2009, this arrangement represented the following total commitment per metric ton as of December 31, 2009: </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div style="margin-left: 3%; margin-right: 0%"> <table border="0" width="97%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff; text-align: left">  <tr style="font-size: 1pt" valign="bottom"> <td width="90%"> </td> <td width="1%"> </td> <td width="1%" align="right"> </td> <td width="7%" align="right"> </td> <td width="1%" align="left"> </td> </tr>    <tr valign="bottom" style="background: #cceeff"> <td nowrap="nowrap" align="left" valign="bottom"> <div style="text-indent: -10pt; margin-left: 10pt"> 2010 </div> </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 195 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" valign="bottom"> <div style="text-indent: -10pt; margin-left: 10pt"> 2011 </div> </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 166 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td nowrap="nowrap" align="left" valign="bottom"> <div style="text-indent: -10pt; margin-left: 10pt"> 2012 </div> </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 169 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" valign="bottom"> <div style="text-indent: -10pt; margin-left: 10pt"> 2013 </div> </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 172 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td nowrap="nowrap" align="left" valign="bottom"> <div style="text-indent: -10pt; margin-left: 10pt"> 2014 </div> </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 172 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> <tr valign="bottom" style="font-size: 1pt"> <td>   </td> <td>   </td> <td style="border-top: 1px solid #000000">   </td> <td style="border-top: 1px solid #000000">   </td> <td style="border-top: 1px solid #000000">   </td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>874</b> </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> <tr valign="bottom" style="font-size: 1pt"> <td>   </td> <td>   </td> <td style="border-top: 3px double #000000">   </td> <td style="border-top: 3px double #000000">   </td> <td style="border-top: 3px double #000000">   </td> </tr> </table> </div> <div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> </div> <div style="margin-top: 12pt; font-size: 1pt">  </div> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff; text-align: left"> <tr> <td width="3%"></td> <td width="97%"></td> </tr> <tr valign="top"> <td> <b><font style="font-family: Arial, Helvetica">e) </font></b> </td> <td> <b><font style="font-family: Arial, Helvetica">Description of Leasing Arrangements</font></b> </td> </tr> </table> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> Part of our railroad operations include leased facilities. The <font style="white-space: nowrap">30-year</font> lease, renewable for a further 30 years, expires in August, 2026 and is classified as an operating lease. At the end of the lease term, we are required to return the concession and the lease assets. In most cases, management expects that in the normal course of business, leases will be renewed. </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> The following is a schedule by year of future minimum rental payments required under the railroad operating leases that have initial or remaining non-cancelable lease terms in excess of one year as of December 31, 2009. </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 9pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff; text-align: left">  <tr style="font-size: 1pt" valign="bottom"> <td width="90%"> </td> <td width="1%"> </td> <td width="1%" align="right"> </td> <td width="7%" align="right"> </td> <td width="1%" align="left"> </td> </tr>    <tr valign="bottom" style="background: #cceeff"> <td align="left" valign="bottom"> <div style="text-indent: -9pt; margin-left: 9pt"> Year ended December 31 </div> </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom">   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" valign="bottom"> <div style="text-indent: -9pt; margin-left: 9pt"> 2010 </div> </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 80 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td nowrap="nowrap" align="left" valign="bottom"> <div style="text-indent: -9pt; margin-left: 9pt"> 2011 </div> </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 80 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" valign="bottom"> <div style="text-indent: -9pt; margin-left: 9pt"> 2012 </div> </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 80 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td nowrap="nowrap" align="left" valign="bottom"> <div style="text-indent: -9pt; margin-left: 9pt"> 2013 </div> </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 80 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" valign="bottom"> <div style="text-indent: -9pt; margin-left: 9pt"> 2014 thereafter </div> </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 1,018 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> <tr valign="bottom" style="font-size: 1pt"> <td>   </td> <td>   </td> <td style="border-top: 1px solid #000000">   </td> <td style="border-top: 1px solid #000000">   </td> <td>   </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td align="left" valign="bottom"> <div style="text-indent: -9pt; margin-left: 9pt"> <b>Total minimum payments required</b> </div> </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>1,338</b> </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> <tr valign="bottom" style="font-size: 1pt"> <td>   </td> <td>   </td> <td style="border-top: 3px double #000000">   </td> <td style="border-top: 3px double #000000">   </td> <td>   </td> </tr> </table> <div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> The total expenses of operating leases for the years ended December 31, 2009, 2008 and 2007 was US$80, US$53 and US$62, respectively. </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> During 2008, we entered into operating lease agreements with our joint ventures Nibrasco, Itabrasco and Kobrasco, under which we leased four pellet plants. The lease terms are from 5 to 30 years. </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> The following is a schedule by year of future minimum rental payments required under the pellet plants operating leases that have initial or remaining non-cancelable lease terms in excess of one year as of December 31, 2009: </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 9pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff; text-align: left">  <tr style="font-size: 1pt" valign="bottom"> <td width="90%"> </td> <td width="1%"> </td> <td width="1%" align="right"> </td> <td width="7%" align="right"> </td> <td width="1%" align="left"> </td> </tr>    <tr valign="bottom" style="background: #cceeff"> <td align="left" valign="bottom"> <div style="text-indent: -9pt; margin-left: 9pt"> Year ended December 31 </div> </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom">   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" valign="bottom"> <div style="text-indent: -9pt; margin-left: 9pt"> 2010 </div> </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 114 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td nowrap="nowrap" align="left" valign="bottom"> <div style="text-indent: -9pt; margin-left: 9pt"> 2011 </div> </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 114 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" valign="bottom"> <div style="text-indent: -9pt; margin-left: 9pt"> 2012 </div> </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 114 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td nowrap="nowrap" align="left" valign="bottom"> <div style="text-indent: -9pt; margin-left: 9pt"> 2013 </div> </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 114 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" valign="bottom"> <div style="text-indent: -9pt; margin-left: 9pt"> 2014 thereafter </div> </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 1,313 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> <tr valign="bottom" style="font-size: 1pt"> <td>   </td> <td>   </td> <td style="border-top: 1px solid #000000">   </td> <td style="border-top: 1px solid #000000">   </td> <td>   </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td nowrap="nowrap" align="left" valign="bottom"> <div style="text-indent: -9pt; margin-left: 9pt"> <b>Total</b> </div> </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>1,769</b> </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> <tr valign="bottom" style="font-size: 1pt"> <td>   </td> <td>   </td> <td style="border-top: 3px double #000000">   </td> <td style="border-top: 3px double #000000">   </td> <td>   </td> </tr> </table> <div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> The total expenses of operating leases for the years ended December 31, 2009 and 2008 was US$114 and US$49, respectively. </div> <div style="margin-top: 12pt; font-size: 1pt">  </div> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff; text-align: left"> <tr> <td width="3%"></td> <td width="97%"></td> </tr> <tr valign="top"> <td> <b><font style="font-family: Arial, Helvetica">f) </font></b> </td> <td> <b><font style="font-family: Arial, Helvetica">Assets retirement obligations</font></b> </td> </tr> </table> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> We use various judgments and assumptions when measuring our asset retirement obligations. </div> <div style="margin-top: 6pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> Changes in circumstances, law or technology may affect our estimates and we periodically review the amounts accrued and adjust them as necessary. Our accruals do not reflect unasserted claims because we are currently not aware of any such issues. Also the amounts provided are not reduced by any potential recoveries under cost sharing, insurance or indemnification arrangements because such recoveries are considered uncertain. </div>  <div style="margin-top: 0pt; font-size: 1pt"> </div> <div align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> </div> </div>   <div style="margin-left: 0%">  <div align="right" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> </div>  <div style="margin-top: 3pt; font-size: 1pt">  </div> <div align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> The changes in the provisions for asset retirement obligations are as follows: </div> <div style="margin-top: 12pt; font-size: 1pt">  </div> <table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff; text-align: left">  <tr style="font-size: 1pt" valign="bottom"> <td width="53%"> </td> <td width="1%"> </td> <td width="1%" align="right"> </td> <td width="12%" align="right"> </td> <td width="1%" align="left"> </td> <td width="1%"> </td> <td width="1%" align="right"> </td> <td width="12%" align="right"> </td> <td width="1%" align="left"> </td> <td width="1%"> </td> <td width="1%" align="right"> </td> <td width="12%" align="right"> </td> <td width="1%" align="left"> </td> <td width="1%"> </td> <td width="1%"> </td> </tr>   <tr style="font-size: 8pt" valign="bottom" align="center"> <td nowrap="nowrap" align="right" valign="bottom">   </td> <td>   </td> <td colspan="13" align="right" valign="bottom"> <b>Year ended December 31,</b> </td> </tr> <tr style="font-size: 8pt" valign="bottom" align="center"> <td nowrap="nowrap" align="right" valign="bottom">   </td> <td>   </td> <td colspan="2" nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000"> <b>2009</b> </td> <td style="border-top: 1px solid #000000">   </td> <td style="border-top: 1px solid #000000">   </td> <td colspan="2" nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000"> <b>2008</b> </td> <td style="border-top: 1px solid #000000">   </td> <td style="border-top: 1px solid #000000">   </td> <td colspan="2" nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000"> <b>2007</b> </td> <td style="border-top: 1px solid #000000">   </td> <td style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000">   </td> </tr>  <tr valign="bottom" style="background: #cceeff"> <td align="left" valign="bottom"> <div style="text-indent: -8pt; margin-left: 8pt"> <b>Beginning of period</b> </div> </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000"> <b>887</b> </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000"> <b>975</b> </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000"> <b>676</b> </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" valign="bottom"> <div style="text-indent: -8pt; margin-left: 8pt"> Accretion expense </div> </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 75 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 164 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 84 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td align="left" valign="bottom"> <div style="text-indent: -8pt; margin-left: 8pt"> Liabilities settled in the current period </div> </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> (46 </td> <td nowrap="nowrap" align="left" valign="bottom"> ) </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> (7 </td> <td nowrap="nowrap" align="left" valign="bottom"> ) </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> (15 </td> <td nowrap="nowrap" align="left" valign="bottom"> ) </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> <tr valign="bottom"> <td align="left" valign="bottom"> <div style="text-indent: -8pt; margin-left: 8pt"> Revisions in estimated cash flows </div> </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> (23 </td> <td nowrap="nowrap" align="left" valign="bottom"> ) </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> (47 </td> <td nowrap="nowrap" align="left" valign="bottom"> ) </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 83 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td align="left" valign="bottom"> <div style="text-indent: -8pt; margin-left: 8pt"> Cumulative translation adjustment </div> </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 223 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> (198 </td> <td nowrap="nowrap" align="left" valign="bottom"> ) </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 147 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> <tr style="font-size: 1pt"> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> </tr> <tr valign="bottom"> <td align="left" valign="bottom"> <div style="text-indent: -8pt; margin-left: 8pt"> <b>End of period</b> </div> </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>1,116</b> </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>887</b> </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>975</b> </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> <tr style="font-size: 1pt"> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> </tr> <tr style="font-size: 1pt"> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td nowrap="nowrap" align="left" valign="bottom"> <div style="text-indent: -8pt; margin-left: 8pt"> Current liabilities </div> </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 89 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 48 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 64 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" valign="bottom"> <div style="text-indent: -8pt; margin-left: 8pt"> Non-current liabilities </div> </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 1,027 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 839 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> 911 </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> <tr style="font-size: 1pt"> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td nowrap="nowrap" align="left" valign="bottom"> <div style="text-indent: -8pt; margin-left: 8pt"> <b>Total</b> </div> </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>1,116</b> </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>887</b> </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>975</b> </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> <tr style="font-size: 1pt"> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> </tr> <tr style="font-size: 1pt"> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="right" valign="bottom" style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> <td style="border-top: 1px solid #000000">   </td> <td nowrap="nowrap" align="left" valign="bottom" style="border-top: 1px solid #000000">   </td> </tr> <tr valign="bottom" style="line-height: 6pt"> <td>   </td> <td>   </td> <td>   </td> <td>   </td> <td>   </td> <td>   </td> <td>   </td> <td>   </td> <td>   </td> <td>   </td> <td>   </td> <td>   </td> <td>   </td> <td>   </td> <td>   </td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom">   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom">   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td nowrap="nowrap" align="right" valign="bottom">   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> <td>   </td> <td nowrap="nowrap" align="left" valign="bottom">   </td> </tr> </table> <div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #ffffff"> </div> </div>  <!-- Begin Block Tagged Note false false false Includes disclosure of commitments and contingencies. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Interpretation (FIN) -Number 14 -Paragraph 3 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 5 -Paragraph 9, 10, 11, 12 false false 1 2 false UnKnown UnKnown UnKnown false true