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v3.23.1

Finance debt (Tables) | 12 Months Ended
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Dec. 31, 2022
Finance Debt |
Summary of balance by type of finance debt |
Summary of balance by type of finance debt |  |
In Brazil | 12.31.2022 | 12.31.2021
Banking market | 1,285 | 1,237
Capital market | 2,896 | 2,504
Development banks (*) | 723 | 769
Others | 4 | 7
Total | 4,908 | 4,517
Abroad |  |
Banking market | 8,387 | 8,525
Capital market | 14,061 | 19,527
Export credit agency | 2,443 | 2,951
Others | 155 | 180
Total | 25,046 | 31,183
Total finance debt | 29,954 | 35,700
Current | 3,576 | 3,641
Non-current | 26,378 | 32,059
(*) It includes BNDES, FINAME and FINEP
Schedule of current finance debt |
Schedule of current finance debt |  |
| 12.31.2022 | 12.31.2021
Short-term debt | − | 108
Current portion of long-term debt | 3,111 | 3,063
Accrued interest on short and long-term debt | 465 | 470
Total | 3,576 | 3,641
Summary of changes in finance debt |
Summary of changes in finance debt |  |  |
| In Brazil | Abroad | Total
Balance at December 31, 2021 | 4,517 | 31,183 | 35,700
Proceeds from finance debt | 853 | 2,027 | 2,880
Repayment of principal (*) | (1,013) | (8,183) | (9,196)
Repayment of interest (*) | (292) | (1,554) | (1,846)
Accrued interest (**) | 396 | 1,867 | 2,263
Foreign exchange/ inflation indexation charges | 120 | (580) | (460)
Translation adjustment | 326 | 287 | 613
Balance at December 31, 2022 | 4,907 | 25,047 | 29,954
| In Brazil | Abroad | Total
Balance at December 31, 2020 | 8,854 | 45,035 | 53,889
Proceeds from finance debt | - | 1,754 | 1,754
Repayment of principal (*) | (4,213) | (14,894) | (19,107)
Repayment of interest (*) | (245) | (1,613) | (1,858)
Accrued interest (**) | 241 | 1,970 | 2,211
Foreign exchange/ inflation indexation charges | 173 | 82 | 255
Translation adjustment | (228) | (200) | (428)
Balance at December 31, 2021 | 4,582 | 32,134 | 36,716
(*) It includes pre-payments.
(**) It includes premium and discount over notional amounts, as well as gains and losses by modifications in contractual cash flows.
Schedule of cash flows reconciliation |
Schedule of cash flows reconciliation |  |  |  |  |  |
|  |  | 2022 |  |  | 2021
| Proceeds from finance debt | Repayment of principal | Repayment of interest | Proceeds from finance debt | Repayment of principal | Repayment of interest
Changes in finance debt | 2,880 | (9,196) | (1,846) | 1,754 | (19,107) | (1,858)
Repurchase of debt securities | − | (121) | − | − | − | −
Deposits linked to finance debt (*) | − | (17) | (4) | − | − | −
Net cash used in financing activities | 2,880 | (9,334) | (1,850) | 1,754 | (19,107) | (1,858)
(*) Deposits linked to finance debt with China Development Bank, with semiannual settlements in June and December.
Schedule of summarized information on current and non-current finance debt |
Schedule of summarized information on current and non-current finance debt |  |  |  |  |  |  |  |
Maturity in | Up to 1 year | 1 to 2 years | 2 to 3 years | 3 to 4 years | 4 to 5 years | 5 years onwards | Total (*) | Fair Value
Financing in U.S.Dollars (US$): | 2,879 | 3,240 | 2,569 | 1,528 | 2,465 | 10,006 | 22,687 | 22,721
Floating rate debt (**) | 2,588 | 2,681 | 1,934 | 1,143 | 1,739 | 652 | 10,737 |
Fixed rate debt | 291 | 559 | 635 | 385 | 726 | 9,354 | 11,950 |
Average interest rate p.a. | 6.8% | 6.5% | 6.1% | 6.3% | 5.9% | 6.6% | 6.6% |
Financing in Brazilian Reais (R$): | 622 | 690 | 221 | 440 | 427 | 2,507 | 4,907 | 4,907
Floating rate debt (***) | 324 | 280 | 138 | 138 | 333 | 1,060 | 2,273 |
Fixed rate debt | 298 | 410 | 83 | 302 | 94 | 1,447 | 2,634 |
Average interest rate p.a. | 6.7% | 6.9% | 6.5% | 6.2% | 6.4% | 6.6% | 6.6% |
Financing in Euro (€): | 37 | 13 | 289 | − | − | 583 | 922 | 897
Fixed rate debt | 37 | 13 | 289 | − | − | 583 | 922 |
Average interest rate p.a. | 4.7% | 4.7% | 4.7% | - | - | 4.7% | 4.7% |
Financing in Pound Sterling (£): | 38 | − | − | 555 | − | 845 | 1,438 | 1,328
Fixed rate debt | 38 | − | − | 555 | − | 845 | 1,438 |
Average interest rate p.a. | 6.2% | 0.0% | 0.0% | 6.2% | 0.0% | 6.5% | 6.3% |
Total as of December 31, 2022 | 3,576 | 3,943 | 3,079 | 2,523 | 2,892 | 13,941 | 29,954 | 29,853
Average interest rate | 6.7% | 6.5% | 6.1% | 6.2% | 6.0% | 6.6% | 6.5% |
Total as of December 31, 2021 | 3,641 | 2,973 | 3,988 | 3,449 | 2,832 | 18,817 | 35,700 | 37,891
Average interest rate | 5.2% | 5.3% | 5.5% | 5.6% | 5.9% | 6.5% | 6.2% |
(*)The average maturity of outstanding debt as of December 31, 2022 is 12.07 years (13.39 years as of December 31, 2021).
(**) Operations with variable index + fixed spread.
(***) Operations with variable index + fixed spread, if applicable.
Schedule of finance debt (undiscounted), including face value and interest payments |
Schedule of finance debt (undiscounted), including face value and interest payments |  |  |  |  |  |  |  |
Maturity | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 and thereafter | 12.31.2022 | 12.31.2021
Principal | 3,106 | 4,061 | 3,173 | 2,665 | 2,657 | 16,041 | 31,703 | 36,557
Interest | 1,928 | 1,748 | 1,441 | 1,282 | 1,068 | 17,348 | 24,815 | 30,557
Total | 5,034 | 5,809 | 4,614 | 3,947 | 3,725 | 33,389 | 56,518 | 67,114
Schedule of lines of credit |
Schedule of lines of credit |  |  |  |  |  |
|  |  |  |  |  | 12.31.2022
Company | Financial institution | Date | Maturity | Available (Lines of Credit) | Used | Balance
Abroad |  |  |  |  |  |
PGT BV | Syndicate of banks | 12/16/2021 | 11/16/2026 | 5,000 | − | 5,000
PGT BV (*) | Syndicate of banks | 3/27/2019 | 2/27/2024 | 3,250 | − | 3,250
Total |  |  |  | 8,250 | − | 8,250
In Brazil |  |  |  |  |  |
Petrobras | Banco do Brasil | 3/23/2018 | 9/26/2026 | 383 | − | 383
Petrobras | Banco do Brasil | 10/4/2018 | 9/5/2025 | 383 | − | 383
Transpetro | Caixa Econômica Federal | 11/23/2010 | Not defined | 63 | − | 63
Total |  |  |  | 829 | − | 829
(*) In April 2021, the subsidiary PGT BV extended part of the Revolving Credit Facility. As such, US$ 2,050 will be available for withdrawal from February 28, 2024 until February 27, 2026.

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