DOEPE 01/04/2015 - Pág. 19 - Poder Executivo - Diário Oficial do Estado de Pernambuco

Poder Executivo ● 01/04/2015 ● Diário Oficial do Estado de Pernambuco

Recife, 10 de abril de 2015

Diário Oficial do Estado de Pernambuco - Poder Executivo

»»»Continuação

Votorantim Cimentos N/NE S.A.

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DXWRULGDGHV¿VFDLV2LPSRVWRGHUHQGDHDFRQWULEXLomRVRFLDOFRUUHQWHVVmRDSUHVHQWDGRV
OtTXLGRV SRU HQWLGDGH FRQWULEXLQWH QR SDVVLYR TXDQGR KRXYHU PRQWDQWHV D SDJDU RX QR
DWLYR TXDQGR RV PRQWDQWHV DQWHFLSDGDPHQWH SDJRV H[FHGHP R WRWDO GHYLGR QD GDWD GR
UHODWyULR 2 LPSRVWR GH UHQGD H D FRQWULEXLomR VRFLDO GLIHULGRV DWLYRV VmR UHFRQKHFLGRV
VRPHQWHQDSURSRUomRGDSUREDELOLGDGHGHTXHROXFURWULEXWiYHOIXWXURHVWHMDGLVSRQtYHOH
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LPRELOL]DGR p GHPRQVWUDGR SHOR FXVWR KLVWyULFR GH DTXLVLomR RX GH FRQVWUXomR PHQRV
GHSUHFLDomR DFXPXODGD 2 FXVWR KLVWyULFR WDPEpP LQFOXL RV FXVWRV GH ¿QDQFLDPHQWR
UHODFLRQDGRVFRPDDTXLVLomRHFRQVWUXomRGHDWLYRVTXDOL¿FDGRV2VFXVWRVVXEVHTXHQWHV
VmRLQFOXtGRVQRYDORUFRQWiELOGRDWLYRRXUHFRQKHFLGRVFRPRXPDWLYRVHSDUDGRFRQIRUPH
DSURSULDGR VRPHQWH TXDQGR IRU SURYiYHO TXH ÀXDP EHQHItFLRV HFRQ{PLFRV IXWXURV
DVVRFLDGRVDRLWHPHTXHRFXVWRGRLWHPSRVVDVHUPHQVXUDGRFRPVHJXUDQoD2YDORU
FRQWiELOGHLWHQVRXSHoDVVXEVWLWXtGDVpEDL[DGR5HSDURVHPDQXWHQomRVmRDSURSULDGRV
DRUHVXOWDGRGXUDQWHRSHUtRGRHPTXHVmRLQFRUULGRV2FXVWRGDVSULQFLSDLVUHIRUPDVp
DFUHVFLGRDRYDORUFRQWiELOGRDWLYRTXDQGRRVEHQHItFLRVHFRQ{PLFRVIXWXURVXOWUDSDVVDP
RSDGUmRGHGHVHPSHQKRLQLFLDOPHQWHHVWLPDGRSDUDRDWLYRHPTXHVWmR$VUHIRUPDVVmR
GHSUHFLDGDVDRORQJRGDYLGD~WLOHFRQ{PLFDUHVWDQWHGRDWLYRUHODFLRQDGR2VWHUUHQRVQmR
VmR GHSUHFLDGRV$ GHSUHFLDomR GRV RXWURV DWLYRV LPRELOL]DGRV p FDOFXODGD XVDQGRVH R
PpWRGR OLQHDU FRQVLGHUDQGR VHXV FXVWRV H VHXV YDORUHV UHVLGXDLV GXUDQWH D YLGD ~WLO
HVWLPDGDFRPRVHJXH
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DQRV
DQRV
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GH FDGD H[HUFtFLR 2 YDORU FRQWiELO GH XP DWLYR p LPHGLDWDPHQWH EDL[DGR SDUD VHX YDORU
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FRP R YDORU FRQWiELO H VmR UHFRQKHFLGRV HP ³2XWUDV UHFHLWDV RSHUDFLRQDLV OtTXLGDV´ QD
GHPRQVWUDomR GR UHVXOWDGR  $WLYRV LQWDQJtYHLV  D  'LUHLWRV VREUH UHFXUVRV
QDWXUDLV 4XDQGR GD FRPSURYDomR HIHWLYD GD YLDELOLGDGH HFRQ{PLFD GD H[SORUDomR
FRPHUFLDO GH GHWHUPLQDGD MD]LGD RV FRUUHVSRQGHQWHV JDVWRV FRP HVWXGRV H SHVTXLVDV
PLQHUDLV H RV JDVWRV GH UHPRomR GH HVWpULO LQFRUULGRV D SDUWLU GHVVD FRPSURYDomR VmR
FDSLWDOL]DGRV FRPR FXVWR GH IRUPDomR GD PLQD 4XDQGR D PLQD HVWLYHU RSHUDFLRQDO RV
FXVWRVDFXPXODGRVFDSLWDOL]DGRVHPUHODomRDRVGLUHLWRVGHH[SORUDomRVmRUHFODVVL¿FDGRV
GR ³DWLYR LPRELOL]DGR´ SDUD R ³DWLYR LQWDQJtYHO´ H VXEVHTXHQWHPHQWH VmR DPRUWL]DGRV H
LQFOXtGRVQRFXVWRGRSURGXWR2VFXVWRVGHFRQVWUXomRFDSLWDOL]DGRVUHODFLRQDGRVjSODQWD
VmR UHFODVVL¿FDGRV SDUD ³HTXLSDPHQWRV H LQVWDODo}HV´ 2V FXVWRV FRP D DTXLVLomR GH
GLUHLWRVGHH[SORUDomRGHPLQDVVmRFDSLWDOL]DGRVHDPRUWL]DGRVXVDQGRVHRPpWRGROLQHDU
DRORQJRGDVYLGDV~WHLVRXTXDQGRDSOLFiYHOFRPEDVHQDH[DXVWmRGHPLQDV$SyVR
LQtFLRGDIDVHSURGXWLYDGDPLQDHVVHVJDVWRVVmRDPRUWL]DGRVHWUDWDGRVFRPRFXVWRGH
SURGXomR $ H[DXVWmR GH UHFXUVRV PLQHUDLV p FDOFXODGD FRP EDVH QD H[WUDomR
FRQVLGHUDQGRVH DV YLGDV ~WHLV HVWLPDGDV GDV UHVHUYDV 1DV RSHUDo}HV GH PLQHUDomR
UHODFLRQDGDV DR QHJyFLR GH FLPHQWR GD &RPSDQKLD p QHFHVViULR UHPRYHU REVWiFXORV H
RXWURV UHVtGXRV SDUD DFHVVDU R PLQpULR D SDUWLU GR TXDO SRGHP VHU H[WUDtGRV PLQHUDLV
HFRQRPLFDPHQWH(VVHSURFHVVRpGHQRPLQDGRGHFDSDJHPRXUHPRomRGHHVWpULO'XUDQWH
RGHVHQYROYLPHQWRGHXPDPLQDDQWHVGRLQtFLRGDSURGXomRRVFXVWRVGHGHFDSDJHP
TXDQGRDXPHQWDPRDFHVVRDRPLQpULRRFRPSRQHQWHGRFRUSRGHPLQpULRSDUDDVTXDLVR
DFHVVR IRL PHOKRUDGR SRGH VHU LGHQWL¿FDGR H RV FXVWRV SRGHP VHU PHGLGRV GH IRUPD
FRQ¿iYHO HVWHV VmR FDSLWDOL]DGRV FRPR SDUWH GR LQYHVWLPHQWR QD FRQVWUXomR GD PLQD
DSUHVHQWDGRFRPRSDUWHGRVDWLYRVLQWDQJtYHLVHVmRSRVWHULRUPHQWHDPRUWL]DGRVGXUDQWH
a vida útil da mina em uma unidade de base da produção e avaliados por impairment
E  8VR GR EHP S~EOLFR Corresponde aos valores estabelecidos nos contratos de
FRQFHVVmRUHODFLRQDGRVDRVGLUHLWRVGHH[SORUDomRGRSRWHQFLDOGHHQHUJLDKLGUiXOLFDHP
XPDiUHDHVSHFt¿FDGRULR3DUDJXDoX FRQFHVVmRRQHURVD FXMRFRQWUDWRpDVVLQDGRQD
PRGDOLGDGH GH 8VR GR EHP S~EOLFR 8%3  2 UHJLVWUR FRQWiELO p IHLWR QR PRPHQWR GD
OLEHUDomR GD OLFHQoD GH RSHUDomR LQGHSHQGHQWHPHQWH GR FURQRJUDPD GH GHVHPEROVRV

HVWDEHOHFLGRQRFRQWUDWR2UHJLVWURLQLFLDOGHVVHSDVVLYR¿QDQFHLUR REULJDomR HGRDWLYR
LQWDQJtYHO GLUHLWRGHFRQFHVVmR FRUUHVSRQGHDRVYDORUHVGDVREULJDo}HVIXWXUDVWUD]LGRVD
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LQWDQJtYHO p FDOFXODGD SHOR PpWRGR OLQHDU SHOR SUD]R UHPDQHVFHQWH GD FRQFHVVmR 2
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SUHVHQWHHPGHFRUUrQFLDGDSDVVDJHPGRWHPSRHUHGX]LGRSHORVSDJDPHQWRVHIHWXDGRV
F Software:2VFXVWRVDVVRFLDGRVjPDQXWHQomRGHsoftwares são reconhecidos como
GHVSHVDFRQIRUPHLQFRUULGRVImpairment GHDWLYRVQmR¿QDQFHLURV2VDWLYRVTXH
WrP YLGD ~WLO LQGH¿QLGD FRPR R iJLR QmR HVWmR VXMHLWRV j DPRUWL]DomR H VmR WHVWDGRV
DQXDOPHQWH SDUD LGHQWL¿FDU HYHQWXDO QHFHVVLGDGH GH UHGXomR DR YDORU UHFXSHUiYHO
(impairment 2VDWLYRVTXHHVWmRVXMHLWRVjGHSUHFLDomRHDPRUWL]DomRVmRUHYLVDGRVSDUD
DYHUL¿FDomRGHimpairmentVHPSUHTXHHYHQWRVRXPXGDQoDVQDVFLUFXQVWkQFLDVLQGLTXHP
TXHRYDORUFRQWiELOSRGHQmRVHUUHFXSHUiYHO8PDSHUGDSRUimpairmentpUHFRQKHFLGD
SHORYDORUHPTXHRYDORUFRQWiELOGRDWLYRH[FHGHVHXYDORUUHFXSHUiYHO(VWH~OWLPRpR
PDLRUYDORUHQWUHRYDORUMXVWRGHXPDWLYRPHQRVRVFXVWRVGHYHQGDHRVHXYDORUHPXVR
3DUD¿QVGHDYDOLDomRGRimpairmentRVDWLYRVVmRDJUXSDGRVQRVQtYHLVPDLVEDL[RVSDUD
RV TXDLV H[LVWHP ÀX[RV GH FDL[D LGHQWL¿FiYHLV VHSDUDGDPHQWH 8QLGDGHV *HUDGRUDV GH
&DL[D8*& 2VDWLYRVQmR¿QDQFHLURVH[FHWRRiJLRTXHWHQKDPVRIULGRimpairmentVmR
UHYLVDGRVVXEVHTXHQWHPHQWHSDUDDDQiOLVHGHXPDSRVVtYHOUHYHUVmRGRimpairmentQD
GDWD GR EDODQoR  $WLYRV QmR FLUFXODQWHV PDQWLGRV SDUD YHQGD  Ativos não
FLUFXODQWHVVmRFODVVL¿FDGRVFRPRDWLYRVPDQWLGRVSDUDYHQGDTXDQGRVHXYDORUFRQWiELOIRU
UHFXSHUiYHOSULQFLSDOPHQWHSRUPHLRGHYHQGDRXTXDQGRDYHQGDIRUSUDWLFDPHQWHFHUWD
(VVHVDWLYRVVmRDYDOLDGRVSHORPHQRUYDORUHQWUHRYDORUFRQWiELOHRYDORUMXVWRGHGX]LGR
RV FXVWRV GH YHQGD  &RQWDV D SDJDU DRV IRUQHFHGRUHV  As contas a pagar aos
IRUQHFHGRUHV VmR REULJDo}HV D SDJDU SRU EHQV RX VHUYLoRV TXH IRUDP DGTXLULGRV GH
IRUQHFHGRUHVQRFXUVRQRUPDOGRVQHJyFLRVVHQGRFODVVL¿FDGDVFRPRSDVVLYRVFLUFXODQWHV
TXDQGRRSDJDPHQWRpGHYLGRQRSHUtRGRGHDWpXPDQR&DVRFRQWUiULRDVFRQWDVDSDJDU
VmRDSUHVHQWDGDVFRPRSDVVLYRQmRFLUFXODQWH(PSUpVWLPRVH¿QDQFLDPHQWRV2V
HPSUpVWLPRVH¿QDQFLDPHQWRVVmRUHFRQKHFLGRVLQLFLDOPHQWHSHORYDORUMXVWROtTXLGRGRV
FXVWRV GD WUDQVDomR LQFRUULGRV H VmR VXEVHTXHQWHPHQWH GHPRQVWUDGRV SHOR FXVWR
DPRUWL]DGR 4XDOTXHU GLIHUHQoD HQWUH RV YDORUHV FDSWDGRV OtTXLGRV GRV FXVWRV GD
WUDQVDomR HRYDORUWRWDODSDJDUpUHFRQKHFLGRQDGHPRQVWUDomRGRUHVXOWDGRGXUDQWHR
SHUtRGRHPTXHRVHPSUpVWLPRVHVWHMDPHPDEHUWRXWLOL]DQGRVHRPpWRGRGDWD[DGHMXURV
HIHWLYD 2V HPSUpVWLPRV H ¿QDQFLDPHQWRV VmR FODVVL¿FDGRV FRPR SDVVLYR FLUFXODQWH D
PHQRVTXHD&RPSDQKLDWHQKDXPGLUHLWRLQFRQGLFLRQDOGHGLIHULUDOLTXLGDomRGRSDVVLYR
SRUSHORPHQRVPHVHVDSyVDGDWDGREDODQoR2VFXVWRVGHHPSUpVWLPRVTXHVmR
GLUHWDPHQWHDWULEXtYHLVjDTXLVLomRFRQVWUXomRRXSURGXomRGHXPDWLYRTXDOL¿FiYHOTXHp
XP DWLYR TXH QHFHVVDULDPHQWH GHPDQGD XP SHUtRGR GH WHPSR VXEVWDQFLDO SDUD ¿FDU
SURQWRSDUDVHXXVRRXYHQGDSUHWHQGLGRVVmRFDSLWDOL]DGRVFRPRSDUWHGRFXVWRGRDWLYR
TXDQGR IRU SURYiYHO TXH HOHV LUmR UHVXOWDU HP EHQHItFLRV HFRQ{PLFRV IXWXURV SDUD D
HQWLGDGH H TXH WDLV FXVWRV SRVVDP VHU PHQVXUDGRV FRP FRQ¿DQoD 'HPDLV FXVWRV GH
HPSUpVWLPRV VmR UHFRQKHFLGRV FRPR GHVSHVD QR SHUtRGR HP TXH VmR LQFRUULGRV
3URYLV}HV$VSURYLV}HVSDUDFXVWRVGHUHHVWUXWXUDomRHDo}HVMXGLFLDLV WUDEDOKLVWD
FLYLOWULEXWiULDHDPELHQWDO VmRUHFRQKHFLGDVTXDQGR L D&RPSDQKLDWHPXPDREULJDomR
SUHVHQWHRXQmRIRUPDOL]DGDFRPRUHVXOWDGRGHHYHQWRVSDVVDGRV LL pSURYiYHOTXHXPD
VDtGD GH UHFXUVRV VHMD QHFHVViULD SDUD OLTXLGDU D REULJDomR H LLL  R YDORU SXGHU VHU
HVWLPDGR FRP VHJXUDQoD $V SURYLV}HV QmR VmR UHFRQKHFLGDV FRP UHODomR jV SHUGDV
RSHUDFLRQDLVIXWXUDV4XDQGRKRXYHUXPDVpULHGHREULJDo}HVVLPLODUHVDSUREDELOLGDGHGH
OLTXLGiODVpGHWHUPLQDGDOHYDQGRVHHPFRQVLGHUDomRDFODVVHGHREULJDo}HVFRPRXP
WRGR8PDSURYLVmRpUHFRQKHFLGDPHVPRTXHVHMDSHTXHQDDSUREDELOLGDGHGHOLTXLGDomR
UHODFLRQDGD FRP TXDOTXHU LWHP LQGLYLGXDO LQFOXtGR QD PHVPD FODVVH GH REULJDo}HV $V
SURYLV}HVVmRPHQVXUDGDVSHORYDORUSUHVHQWHGRVJDVWRVTXHGHYHPVHUQHFHVViULRVSDUD
OLTXLGDUDREULJDomRXVDQGRXPDWD[DDQWHVGRLPSRVWRDTXDOUHÀLWDDVDYDOLDo}HVDWXDLV
GRPHUFDGRGRYDORUWHPSRUDOGRGLQKHLURHGRVULVFRVHVSHFt¿FRVGDREULJDomR2DXPHQWR
GD REULJDomR HP GHFRUUrQFLD GD SDVVDJHP GR WHPSR p UHFRQKHFLGR FRPR GHVSHVD
¿QDQFHLUD2EULJDomRFRPGHVFRPLVVLRQDPHQWRGHDWLYRAs despesas relativas
DRGHVFRPLVVLRQDPHQWRGHPLQDVVmRUHJLVWUDGDVFRPRREULJDo}HVSDUDGHVPRELOL]DomR
GH DWLYRV $V REULJDo}HV FRQVLVWHP SULQFLSDOPHQWH GH FXVWRV DVVRFLDGRV FRP R
HQFHUUDPHQWR GDV DWLYLGDGHV 2 FXVWR GH GHVPRELOL]DomR GH DWLYRV HTXLYDOHQWH DR YDORU
SUHVHQWHGDREULJDomR SDVVLYR pFDSLWDOL]DGRFRPRSDUWHGRYDORUFRQWiELOGRDWLYRTXHp
GHSUHFLDGRDRORQJRGHVXDYLGD~WLO(VWHVSDVVLYRVVmRUHJLVWUDGRVFRPRSURYLV}HV
 %HQHItFLRV D IXQFLRQiULRV  $ &RPSDQKLD RSHUD DOJXQV WLSRV GH EHQHItFLRV SyV
HPSUHJRLQFOXLQGRWDQWRVSODQRVGHSHQVmRGHEHQHItFLRGH¿QLGRHFRQWULEXLomRGH¿QLGD
D  2EULJDo}HV GH DSRVHQWDGRULD $ &RPSDQKLD SDUWLFLSD GH SODQRV GH SHQVmR
DGPLQLVWUDGRVSRUHQWLGDGHIHFKDGDGHSUHYLGrQFLDSULYDGDTXHSURYrPDVHXVHPSUHJDGRV
EHQHItFLRV SyVHPSUHJR $ &RPSDQKLD p SDWURFLQDGRUD GH SODQRV GH EHQHItFLR QD
PRGDOLGDGHFRQWULEXLomRGH¿QLGD8PSODQRGHFRQWULEXLomRGH¿QLGDpXPSODQRGHSHQVmR
VHJXQGR R TXDO D &RPSDQKLD SDJD FRQWULEXLo}HV ¿[DV SDUD XPD HQWLGDGH VHSDUDGD $
Companhia não tem nenhuma obrigação legal ou construtiva para pagar contribuições
DGLFLRQDLVVHRIXQGRQmRGHWLYHUDWLYRVVX¿FLHQWHVSDUDSDJDUDWRGRVRVIXQFLRQiULRVRV
EHQHItFLRV UHODWLYRV DRV VHXV VHUYLoRV QR SHUtRGR FRUUHQWH RX DQWHULRU $ &RPSDQKLD
SDWURFLQD XP SODQR GH EHQHItFLR GH¿QLGR TXH p GLIHUHQWH GH XP SODQR GH FRQWULEXLomR
GH¿QLGD(VWHSODQRHVWDEHOHFHXPYDORUGHEHQHItFLRGHDSRVHQWDGRULDTXHXPHPSUHJDGR
UHFHEHUiHPVXDDSRVHQWDGRULDGHSHQGHQWHGHXPRXPDLVIDWRUHVFRPRLGDGHWHPSRGH
VHUYLoRHUHPXQHUDomR2SDVVLYRFRPUHODomRDRVSODQRVGHSHQVmRGHEHQHItFLRGH¿QLGR
pRYDORUSUHVHQWHGDREULJDomRGHEHQHItFLRGH¿QLGRQDGDWDGREDODQoRPHQRVRYDORU
MXVWR GRV DWLYRV GR SODQR$ REULJDomR GH EHQHItFLR GH¿QLGR p FDOFXODGD DQXDOPHQWH SRU
DWXiULRVLQGHSHQGHQWHVFRPRPpWRGRGDXQLGDGHGHFUpGLWRSURMHWDGD2YDORUSUHVHQWHGD
REULJDomR GH EHQHItFLR GH¿QLGR p GHWHUPLQDGR PHGLDQWH R GHVFRQWR GDV VDtGDV IXWXUDV
HVWLPDGDVGHFDL[DXVDQGRVHWD[DVGHMXURVFRQGL]HQWHVFRPRVUHQGLPHQWRVGHPHUFDGR
DVTXDLVVmRGHQRPLQDGDVQDPRHGDHPTXHRVEHQHItFLRVVHUmRSDJRVHWrPSUD]RVGH
YHQFLPHQWR SUy[LPRV GDTXHOHV GD UHVSHFWLYD REULJDomR GR SODQR GH SHQVmR 1R %UDVLO
RQGH QmR H[LVWH PHUFDGR DWLYR HP WDLV REULJDo}HV VmR XWLOL]DGDV DV WD[DV GH PHUFDGR
VREUHWtWXORVGRJRYHUQR2VJDQKRVHDVSHUGDVDWXDULDLVGHFRUUHQWHVGHPXGDQoDVQDV
SUHPLVVDVDWXDULDLVHQRVSODQRVGHSHQVmRVmRUHFRQKHFLGRVHP³2XWURVFRPSRQHQWHVGR
UHVXOWDGRDEUDQJHQWH´QRSHUtRGRHPTXHRFRUUHUHP2VFXVWRVGHVHUYLoRVSDVVDGRVVmR
LPHGLDWDPHQWHUHFRQKHFLGRVQRUHVXOWDGRDPHQRVTXHDVPXGDQoDVGRSODQRGHSHQVmR
HVWHMDP FRQGLFLRQDGDV j SHUPDQrQFLD GR HPSUHJDGR QR HPSUHJR SRU XP SHUtRGR GH
WHPSR HVSHFt¿FR R SHUtRGR QR TXDO R GLUHLWR p DGTXLULGR  1HVVH FDVR RV FXVWRV GH
VHUYLoRVSDVVDGRVVmRDPRUWL]DGRVSHORPpWRGROLQHDUGXUDQWHRSHUtRGRHPTXHRGLUHLWR
IRLDGTXLULGR3DUDRVSODQRVGHFRQWULEXLomRGH¿QLGDD&RPSDQKLDSDJDFRQWULEXLo}HVSDUD
RV DGPLQLVWUDGRUHV GRV SODQRV GH SHQVmR HP EDVHV FRPSXOVyULDV FRQWUDWXDLV RX
YROXQWiULDV $ &RPSDQKLD QmR WHP PDLV REULJDo}HV GH SDJDPHQWR XPD YH] TXH DV
FRQWULEXLo}HV WLYHUHP VLGR SDJDV $V FRQWULEXLo}HV VmR UHFRQKHFLGDV FRPR GHVSHVD GH
EHQHItFLRVDHPSUHJDGRVTXDQGRVmRGHYLGDV&RQWULEXLo}HVSDJDVDQWHFLSDGDPHQWHVmR
UHFRQKHFLGDV FRPR XP DWLYR QD SURSRUomR HP TXH XP UHHPEROVR HP GLQKHLUR RX XPD
UHGXomR GRV SDJDPHQWRV IXWXURV HVWLYHU GLVSRQtYHO E  3DUWLFLSDomR GRV HPSUHJDGRV
QRV UHVXOWDGRV 6mR UHJLVWUDGDV SURYLV}HV SDUD UHFRQKHFHU D GHVSHVD UHIHUHQWH j
SDUWLFLSDomRGRVHPSUHJDGRVQRVUHVXOWDGRV(VVDVSURYLV}HVVmRFDOFXODGDVFRPEDVHHP
PHWDVTXDOLWDWLYDVHTXDQWLWDWLYDVGH¿QLGDVSHOD$GPLQLVWUDomRHFRQWDELOL]DGDVQRUHVXOWDGR
FRPR³%HQHItFLRDHPSUHJDGRV´&DSLWDOVRFLDO$VDo}HVRUGLQiULDVHSUHIHUHQFLDLV
VmR FODVVL¿FDGDV QR SDWULP{QLR OtTXLGR 2V FXVWRV LQFUHPHQWDLV GLUHWDPHQWH DWULEXtYHLV j
HPLVVmR GH QRYDV Do}HV RX RSo}HV VmR GHPRQVWUDGRV QR SDWULP{QLR OtTXLGR FRPR XPD
GHGXomRGRYDORUFDSWDGROtTXLGDGHLPSRVWRV4XDQGRD&RPSDQKLDFRPSUDDo}HVGRVHX
SUySULR FDSLWDO Do}HV HP WHVRXUDULD  R YDORU SDJR LQFOXLQGR WRGRV RV FXVWRV DGLFLRQDLV
GLUHWDPHQWHDWULEXtYHLV OtTXLGRVGRLPSRVWRGHUHQGDHGDFRQWULEXLomRVRFLDO pGHGX]LGR
GRSDWULP{QLRDWULEXtYHODRVDFLRQLVWDVGD&RPSDQKLDDWpTXHDVDo}HVVHMDPFDQFHODGDV
RX UHHPLWLGDV 4XDQGR HVVDV Do}HV VmR VXEVHTXHQWHPHQWH UHHPLWLGDV TXDOTXHU YDORU
UHFHELGROtTXLGRGHWRGRVRVFXVWRVDGLFLRQDLVGDWUDQVDomRGLUHWDPHQWHDWULEXtYHLVHGRV
UHVSHFWLYRV HIHLWRV GR LPSRVWR GH UHQGD H GD FRQWULEXLomR VRFLDO p LQFOXtGR QR FDSLWDO
DWULEXtYHO DRV DFLRQLVWDV GD &RPSDQKLD  5HFRQKHFLPHQWR GD UHFHLWD  A receita
FRPSUHHQGHRYDORUMXVWRGDFRQWUDSUHVWDomRUHFHELGDRXDUHFHEHUSHODFRPHUFLDOL]DomR
GH SURGXWRV H VHUYLoRV QR FXUVR QRUPDO GDV DWLYLGDGHV GD &RPSDQKLD $ UHFHLWD p
DSUHVHQWDGD OtTXLGD GRV LPSRVWRV GDV GHYROXo}HV GRV DEDWLPHQWRV H GRV GHVFRQWRV$
&RPSDQKLD UHFRQKHFH D UHFHLWD TXDQGR L  R YDORU GD UHFHLWD SRGH VHU PHQVXUDGR FRP
VHJXUDQoD LL VHMDSURYiYHOTXHEHQHItFLRVHFRQ{PLFRVIXWXURVÀXLUmRSDUDDHQWLGDGHH LLL 
FULWpULRVHVSHFt¿FRVWHQKDPVLGRDWHQGLGRVSDUDFDGDXPDGDVDWLYLGDGHVGD&RPSDQKLD
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