• 
  • Consolidated Balance Sheets
  • Consolidated Statements of income Yeares Ended
  • Consolidated Statements of Comprehensive Income Years Ended
  • Consolidated Statements of Shareholders' Equity
  • Consolidated Statements of Cash Flow Years Ended
  • Notes To the Consolidated Financial Statements
    • 1. Operations
    • 2. Presentation of the Financial Statements and Accounting Practices
    • 3. Critical Accounting Estimates
    • 4. Accounting Pronouncements not yet Adopted
    • 5. First-time Adoption of IFRS
    • 6. Financial Instruments
    • 7. Cash and Cash Equivalents
    • 8. Financial Assets
    • 9. Trade Accounts Receivable, Net
    • 10. Customer and Commercial Financing
    • 11. Collateralized Accounts Receivable and Recourse and Non Recourse Debt
    • 12. Inventories
    • 13. Other Assets
    • 14. Guarantee Deposits
    • 15. Related Party Transactions
    • 16. Property, Plant and Equipment
    • 17. Intangible Assets
    • 18. Financial Liabilities by Category
    • 19. Loans and Financing
    • 20. Trade Accounts Payable
    • 21. Other Payables
    • 22. Contribution from Suppliers
    • 23. Advances from Customers
    • 24. Axes and Payroll Charges Payable and Income Tax Social Contribution
    • 25. Other Provisions
    • 26. Provisions for Contingencies
    • 27. Post-retirement Benefits
    • 28. Shareholders' Equity
    • 29. Stock Compensation
    • 30. Earnings Per Share
    • 31. Employee Profit Sharing-plan
    • 32. Other Operating (expense) Income, Net
    • 33. Revenue and (expenses) by Nature
    • 34. Financial Income (expense)
    • 35. Foreign Exchange Gains (losses), Net
    • 36. Income Taxesincome Taxes
    • 37. Impairment Test
    • 38. Financial Guarantees
    • 39. Financial Instruments
    • 40. Responsibilities and Commitments
    • 41. Insurance (unaudited)
    • 42. Additional Information of Cash Flow
    • 43. Segment Information
    • 44. Events After the Balance Sheet Date
  • Proposal to the Board of Directors
  • ANNUAL REPORT

Notes to the Consolidated Financial Statements
In millions of U.S. dollars, unless otherwise stated

33. REVENUE AND (EXPENSES) BY NATURE

The Company opted to present the statements of income by function. The table shows the detailed costs and expenses by nature:

	12.31.2010	12.31.2009
Presented as statements of Income:
Revenue	5,364.1	5,497.8
Cost of sales and services	(4,338.1)	(4,428.4)
Administratives	(197.5)	(191.3)
Selling	(374.1)	(304.6)
Research	(72.1)	(55.6)
Other income (expenses), net	9.4	(138.5)
	391.7	379.4
Revenue (expenses) by nature:
Revenue from sales of goods	4,977.0	5,190.3
Revenue from sales of services	448.6	372.7
Sales deductions	(61.5)	(65.2)
Cost attributed to the product	(4,118.9)	(4,197.1)
Depreciation	(103.0)	(115.2)
Amortization	(116.2)	(114.1)
Personnel expenses	(282.8)	(251.7)
Selling expenses	(99.8)	(86.8)
Other operating (expense) income	(251.7)	(353.5)
	391.7	379.4

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