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Finance debt (Tables) | 6 Months Ended
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Jun. 30, 2024
Finance Debt |
Schedule of balance by type finance debt |
Schedule of balance by type finance debt |  |
In Brazil | 06.30.2024 | 12.31.2023
Banking market | 2,456 | 2,262
Capital market | 2,792 | 3,130
Development banks (1) | 585 | 698
Others | 2 | 1
Total | 5,835 | 6,091
Abroad |  |
Banking market | 4,871 | 6,303
Capital market | 13,762 | 14,384
Export credit agency | 1,702 | 1,870
Others | 151 | 153
Total | 20,486 | 22,710
Total finance debt | 26,321 | 28,801
Current | 4,617 | 4,322
Non-current | 21,704 | 24,479
(1) | It includes BNDES, FINAME and FINEP.
Schedule of current finance debt |
Schedule of current finance debt |  |
| 06.30.2024 | 12.31.2023
Short-term debt | 12 | 4
Current portion of long-term debt | 4,124 | 3,776
Accrued interest on short and long-term debt | 481 | 542
Total | 4,617 | 4,322
Schedule of changes in finance debt |
Schedule of changes in finance debt |  |  |
| In Brazil | Abroad | Total
Balance at December 31, 2023 | 6,090 | 22,711 | 28,801
Proceeds from finance debt | 557 | 10 | 567
Repayment of principal (1) | (158) | (2,177) | (2,335)
Repayment of interest (1) | (203) | (795) | (998)
Accrued interest (2) | 240 | 774 | 1,014
Foreign exchange/ inflation indexation charges | 110 | 300 | 410
Translation adjustment | (800) | (338) | (1,138)
Balance at June 30, 2024 | 5,836 | 20,485 | 26,321
| In Brazil | Abroad | Total
Balance at December 31, 2022 | 4,907 | 25,047 | 29,954
Proceeds from finance debt | 12 | 50 | 62
Repayment of principal (1) | (208) | (1,237) | (1,445)
Repayment of interest (1) | (144) | (846) | (990)
Accrued interest (2) | 212 | 877 | 1,089
Foreign exchange/ inflation indexation charges | 82 | (173) | (91)
Translation adjustment | 398 | 268 | 666
Modification of contractual cash flows | (17) | - | (17)
Balance at June 30, 2023 | 5,242 | 23,986 | 29,228
(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 |  |  |  |  |  |
|  |  | Jan-Jun/2024 |  |  | Jan-Jun/2023
| Proceeds from finance debt | Repayment of principal | Repayment of interest | Proceeds from finance debt | Repayment of principal | Repayment of interest
Changes in finance debt | 567 | (2,335) | (998) | 62 | (1,445) | (990)
Deposits linked to finance debt (1) |  | 17 | 3 |  | (37) | (14)
Net cash used in financing activities | 567 | (2,318) | (995) | 62 | (1,482) | (1,004)
(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 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 onwards | Total (1) | Fair Value
Financing in U.S.Dollars (US$): | 1,661 | 2,512 | 1,460 | 2,148 | 1,536 | 9,046 | 18,363 | 18,036
Floating rate debt (2) | 1,416 | 1,916 | 1,119 | 1,468 | 523 | 428 | 6,870 |
Fixed rate debt | 245 | 596 | 341 | 680 | 1,013 | 8,618 | 11,493 |
Average interest rate p.a. | 6.7% | 6.2% | 6.5% | 5.9% | 5.4% | 6.6% | 6.5% |
Financing in Brazilian Reais (R$): | 447 | 270 | 440 | 128 | 130 | 4,121 | 5,536 | 5,225
Floating rate debt (3) | 77 | 129 | 125 | 34 | 34 | 2,773 | 3,172 |
Fixed rate debt | 370 | 141 | 315 | 94 | 96 | 1,348 | 2,364 |
Average interest rate p.a. | 6.5% | 8.0% | 8.3% | 8.7% | 8.8% | 7.5% | 7.8% |
Financing in Euro (€): | − | 306 | − | − | 132 | 458 | 896 | 890
Fixed rate debt | − | 306 | − | − | 132 | 458 | 896 |
Average interest rate p.a. | 0.0% | 4.6% | 0.0% | 0.0% | 4.6% | 4.7% | 4.6% |
Financing in Pound Sterling (£): | 35 | 16 | 585 | − | − | 890 | 1,526 | 1,491
Fixed rate debt | 35 | 16 | 585 | − | − | 890 | 1,526 |
Average interest rate p.a. | 6.2% | 6.2% | 6.2% | 0.0% | 0.0% | 6.5% | 6.3% |
Total as of June 30, 2024 | 2,143 | 3,104 | 2,485 | 2,276 | 1,798 | 14,515 | 26,321 | 25,642
Average interest rate | 6.6% | 6.5% | 6.9% | 6.5% | 6.3% | 6.6% | 6.6% |
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% |
(1) | The average maturity of outstanding debt as of June 30, 2024 is 11.76 years (11.38 years as of December 31, 2023).
(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 | 06.30.2024 | 12.31.2023
Principal | 1,702 | 3,100 | 2,536 | 2,324 | 1,920 | 15,064 | 26,646 | 29,181
Interest | 901 | 1,601 | 1,470 | 1,224 | 1,021 | 15,236 | 21,453 | 22,541
Total (1) | 2,603 | 4,701 | 4,006 | 3,548 | 2,941 | 30,300 | 48,099 | 51,722
(1) | A maturity schedule of the lease arrangements (nominal amounts) is set out in note 25.
Schedule of lines of credit |
Schedule of lines of credit |  |  |  |  |  |
|  |  |  |  |  | 06.30.2024
Company | Financial institution | Date | Maturity | Available (Lines of Credit) | Used | Balance
Abroad |  |  |  |  |  |
PGT BV (1) | Syndicate of banks | 12/16/2021 | 11/16/2026 | 5,000 | − | 5,000
PGT BV | 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 | 360 | − | 360
Petrobras (1) | Banco do Brasil | 10/4/2018 | 10/4/2029 | 720 | − | 720
Transpetro | Caixa Econômica Federal | 11/23/2010 | Not defined | 59 | − | 59
Total |  |  |  | 1,139 | − | 1,139
(1) | On April 08, 2024, Petrobras reduced part of the Revolving Credit Facility to US$ 4,110 compared to the US$ 5,000 contracted in 2021. Thus, US$ 5,000 will be available for withdrawal until November 16, 2026 and US$ 4,110 from November 16, 2026, to November 16, 2028. On June 18, 2024, Petrobras renewed the RCF with Banco do Brasil, extending its maturity to October 4, 2029, and increasing its amount from US$ 360 (R$ 2 billion) to US$ 720 (R$ 4 billion).

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