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Finance debt (Tables) | 12 Months Ended
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Dec. 31, 2023
Finance Debt |
Schedule of balance by type of finance debt |
Schedule of balance by type of finance debt |  |
In Brazil | 12.31.2023 | 12.31.2022
Banking market | 2,262 | 1,285
Capital market | 3,130 | 2,896
Development banks (1) | 698 | 723
Others | 1 | 4
Total | 6,091 | 4,908
Abroad |  |
Banking market | 6,303 | 8,387
Capital market | 14,384 | 14,061
Export credit agency | 1,870 | 2,443
Others | 153 | 155
Total | 22,710 | 25,046
Total finance debt | 28,801 | 29,954
Current | 4,322 | 3,576
Non-current | 24,479 | 26,378
(1) It includes BNDES, FINAME and FINEP.
Schedule of current finance debt |
Schedule of current finance debt |  |
| 12.31.2023 | 12.31.2022
Short-term debt | 4 | −
Current portion of long-term debt | 3,776 | 3,111
Accrued interest on short and long-term debt | 542 | 465
Total | 4,322 | 3,576
Schedule of changes in finance debt |
Schedule of changes in finance debt |  |  |
| In Brazil | Abroad | Total
Balance at December 31, 2022 | 4,907 | 25,047 | 29,954
Proceeds from finance debt | 925 | 1,285 | 2,210
Repayment of principal (1) | (331) | (3,907) | (4,238)
Repayment of interest (1) | (324) | (1,640) | (1,964)
Accrued interest (2) | 436 | 1,822 | 2,258
Foreign exchange/ inflation indexation charges | 111 | (150) | (39)
Translation adjustment | 383 | 254 | 637
Modification of contractual cash flows | (17) | − | (17)
Balance at December 31, 2023 | 6,090 | 22,711 | 28,801
| 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) | (1,013) | (8,183) | (9,196)
Repayment of interest (1) | (292) | (1,554) | (1,846)
Accrued interest (2) | 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
(1) It includes pre-payments.
(2) 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 |  |  |  |  |  |
|  |  | 2023 |  |  | 2022
| Proceeds from finance debt | Repayment of principal | Repayment of interest | Proceeds from finance debt | Repayment of principal | Repayment of interest
Changes in finance debt | 2,210 | (4,238) | (1,964) | 2,880 | (9,196) | (1,846)
Repurchase of debt securities |  | 78 | − |  | (121) | −
Deposits linked to finance debt (1) |  | (33) | (14) |  | (17) | (4)
Net cash used in financing activities | 2,210 | (4,193) | (1,978) | 2,880 | (9,334) | (1,850)
(1) 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 (1) | Fair Value
Financing in U.S.Dollars (US$): | 3,578 | 2,509 | 1,460 | 2,398 | 1,529 | 9,056 | 20,530 | 20,661
Floating rate debt (2) | 2,773 | 1,915 | 1,119 | 1,716 | 524 | 428 | 8,475 |
Fixed rate debt | 805 | 594 | 341 | 682 | 1,005 | 8,628 | 12,055 |
Average interest rate p.a. | 5.5% | 5.5% | 6.2% | 5.8% | 5.4% | 6.6% | 6.3% |
Financing in Brazilian Reais (R$): | 653 | 257 | 503 | 149 | 151 | 4,076 | 5,789 | 6,206
Floating rate debt (3) | 118 | 145 | 145 | 40 | 40 | 2,557 | 3,045 |
Fixed rate debt | 535 | 112 | 358 | 109 | 111 | 1,519 | 2,744 |
Average interest rate p.a. | 6.9% | 6.6% | 6.7% | 7.2% | 7.4% | 6.6% | 6.8% |
Financing in Euro (€): | 51 | 300 | − | − | 136 | 472 | 959 | 970
Fixed rate debt | 51 | 300 | − | − | 136 | 472 | 959 |
Average interest rate p.a. | 4.7% | 4.7% | 0.0% | 0.0% | 4.6% | 4.7% | 4.7% |
Financing in Pound Sterling (£): | 40 | − | 588 | − | − | 895 | 1,523 | 1,492
Fixed rate debt | 40 | − | 588 | − | − | 895 | 1,523 |
Average interest rate p.a. | 6.3% | 0.0% | 6.2% | 0.0% | 0.0% | 6.6% | 6.4% |
Total as of December 31, 2023 | 4,322 | 3,066 | 2,551 | 2,547 | 1,816 | 14,499 | 28,801 | 29,329
Average interest rate | 5.8% | 5.8% | 6.3% | 6.1% | 5.9% | 6.5% | 6.4% |
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% |
(1)The average maturity of outstanding debt as of December 31, 2023 is 11.38 years (12.07 years as of December 31, 2022).
(2) Operations with variable index + fixed spread.
(3) 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 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 and thereafter | 12.31.2023 | 12.31.2022
Principal | 3,814 | 3,135 | 2,606 | 2,600 | 1,951 | 15,075 | 29,181 | 31,703
Interest | 1,922 | 1,627 | 1,492 | 1,242 | 1,022 | 15,237 | 22,541 | 24,815
Total (1) | 5,736 | 4,762 | 4,098 | 3,842 | 2,973 | 30,312 | 51,722 | 56,518
(1) A maturity schedule of the lease arrangements (nominal amounts) is set out in note 33.
Schedule of lines of credit |
Schedule of lines of credit |  |  |  |  |  |
|  |  |  |  |  | 12.31.2023
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 (1) | Syndicate of banks | 3/27/2019 | 2/27/2026 | 2,050 | − | 2,050
Total |  |  |  | 7,050 | − | 7,050
In Brazil |  |  |  |  |  |
Petrobras | Banco do Brasil | 3/23/2018 | 9/26/2026 | 413 | − | 413
Petrobras | Banco do Brasil | 10/4/2018 | 9/5/2025 | 413 | − | 413
Transpetro | Caixa Econômica Federal | 11/23/2010 | Not defined | 68 | − | 68
Total |  |  |  | 894 | − | 894
(1) On June 30, 2023, Petrobras reduced part of the Revolving Credit Facility to US$ 2,050 compared to the US$ 3,250 contracted in 2019. Thus, US$ 2,050 will be available for withdrawal from July 1st, 2023, to February 27, 2026.

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