Cash flows from operating activities
Dec. 31, 2025
11. Cash flows from operating activities
a) Reconciliation of cash flows from operating activities
| Year ended December 31, | Notes | 2025 | 2024 | 2023 |
| Cash flow from operating activities: | ||||
| Income before income taxes | 4,653 | 6,696 | 11,151 | |
| Adjusted for: | ||||
| Equity results and other results in associates and joint ventures | 30 | 218 | 269 | 1,108 |
| Impairment and gains (losses) on disposal of non-current assets, net | 12, 13, 15 and 31 | 4,599 | (301) | 266 |
| Changes in estimates related to the provision of Brumadinho | 25 | 297 | 116 | 461 |
| Changes in estimates related to the provision of de-characterization of dams | 14 | (185) | (206) | 153 |
| Depreciation, depletion and amortization | 3,105 | 3,057 | 3,070 | |
| Financial results, net | 18 | 1,026 | 3,823 | 1,946 |
| Changes in assets and liabilities: | ||||
| Accounts receivable | 7 | 120 | 1,668 | 197 |
| Inventories | 8 | (1,076) | (549) | (214) |
| Suppliers and contractors | 9 | 875 | (360) | 637 |
| Other assets and liabilities, net | (231) | (446) | (1,523) | |
| Cash generated from operations | 13,401 | 13,767 | 17,252 |
b) Non-cash transactions
| Year ended December 31, | 2025 | 2024 | 2023 |
| Non-cash transactions: | |||
| Additions to PP&E with capitalized loans | 22 | 36 | 19 |
