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Hedge accounting (Tables) | 12 Months Ended
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Dec. 31, 2021
Statement [Line Items] |
Schedule of Each Strategy of Nominal Value and Fair Value Adjustments of Hedge Instruments and Book Value of Hedged Item | The table below presents, for each strategy, the notional amount and the fair value adjustments of hedge instruments and the book value of the hedged item:
|  | 12/31/2021 |  |  | 12/31/2020 |
|  | Hedge instruments |  |  | Hedged item |  |  | Hedge instruments |  |  | Hedged item |
Strategies |  | Notional amount |  |  | Fair value adjustments |  |  | Book Value |  |  | Notional amount |  |  | Fair value adjustments |  |  | Book Value |
Hedge of deposits and repurchase agreements |  |  | 39,136 |  |  |  | 86 |  |  |  | 39,142 |  |  |  | 103,407 |  |  |  | 158 |  |  |  | 103,407 |
Hedge of highly probable forecast transactions |  |  | 3,508 |  |  |  | 185 |  |  |  | 3,508 |  |  |  | 1,314 |  |  |  | (105 | ) |  |  | 1,314 |
Hedge of net investment in foreign operations |  |  | 13,888 |  |  |  | 3,407 |  |  |  | 9,646 |  |  |  | 24,619 |  |  |  | 2,208 |  |  |  | 15,277 |
Hedge of loan operations (Fair value) |  |  | 8,890 |  |  |  | (28 | ) |  |  | 8,890 |  |  |  | 9,205 |  |  |  | (423 | ) |  |  | 9,205 |
Hedge of loan operations (Cash flow) |  |  | 131 |  |  |  | 1 |  |  |  | 131 |  |  |  | 316 |  |  |  | 15 |  |  |  | 327 |
Hedge of funding (Fair value) |  |  | 11,051 |  |  |  | (388 | ) |  |  | 11,051 |  |  |  | 10,200 |  |  |  | 1,390 |  |  |  | 10,200 |
Hedge of funding (Cash flow) |  |  | 5,779 |  |  |  | 30 |  |  |  | 5,749 |  |  |  | 1,996 |  |  |  | (11 | ) |  |  | 2,007 |
Hedge of assets transactions |  |  | 8,213 |  |  |  | (409 | ) |  |  | 8,621 |  |  |  | 5,743 |  |  |  | 66 |  |  |  | 5,673 |
Hedge of asset-backed securities under repurchase agreements |  |  | 39,962 |  |  |  | 50 |  |  |  | 40,526 |  |  |  | 31,417 |  |  |  | (11 | ) |  |  | 29,533 |
Hedge of assets denominated in UF |  |  | 14,683 |  |  |  | (127 | ) |  |  | 14,558 |  |  |  | 16,677 |  |  |  | (1 | ) |  |  | 16,674 |
Hedge of securities at fair value through other comprehensive income |  |  | 3,220 |  |  |  | 206 |  |  |  | 3,187 |  |  |  | 10,383 |  |  |  | (226 | ) |  |  | 10,192 |
Total |  |  |  |  |  |  | 3,013 |  |  |  |  |  |  |  |  |  |  |  | 3,060 |  |  |  |  |
Breakdown by Maturity of Hedging Strategies | The table below shows the breakdown by maturity of the hedging strategies:
|  | 12/31/2021 |
|  | 0-1 ano |  |  | 1-2 anos |  |  | 2-3 anos |  |  | 3-4 anos |  |  | 4-5 anos |  |  | 5-10 anos |  |  | Acima de 10 anos |  |  | Total |
Hedge of deposits and repurchase agreements |  |  | 1,284 |  |  |  | 9,453 |  |  |  | 14,221 |  |  |  | 7,313 |  |  |  | 5,332 |  |  |  | 1,533 |  |  |  | — |  |  |  | 39,136 |
Hedge of highly probable forecast transactions |  |  | 3,508 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,508 |
Hedge of net investment in foreign operations (*) |  |  | 13,888 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 13,888 |
Hedge of loan operations (Fair value) |  |  | 3,377 |  |  |  | 1,522 |  |  |  | 797 |  |  |  | 838 |  |  |  | 809 |  |  |  | 1,547 |  |  |  | — |  |  |  | 8,890 |
Hedge of loan operations (Cash flow) |  |  | 131 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 131 |
Hedge of funding (Fair value) |  |  | 1,206 |  |  |  | 1,072 |  |  |  | 302 |  |  |  | 273 |  |  |  | 2,920 |  |  |  | 3,916 |  |  |  | 1,362 |  |  |  | 11,051 |
Hedge of funding (Cash flow) |  |  | 2,147 |  |  |  | 3,632 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5,779 |
Hedge of assets transactions |  |  | 2,198 |  |  |  | — |  |  |  | 6,015 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 8,213 |
Hedge of asset-backed securities under repurchase agreements |  |  | 2,322 |  |  |  | 14,963 |  |  |  | 8,976 |  |  |  | 13,098 |  |  |  | — |  |  |  | 603 |  |  |  | — |  |  |  | 39,962 |
Hedge of assets denominated in UF |  |  | 10,148 |  |  |  | 4,535 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 14,683 |
Hedge of securities at fair value through other comprehensive income |  |  | — |  |  |  | 453 |  |  |  | 56 |  |  |  | 1,692 |  |  |  | 26 |  |  |  | 993 |  |  |  | — |  |  |  | 3,220 |
Total |  |  | 40,209 |  |  |  | 35,630 |  |  |  | 30,367 |  |  |  | 23,214 |  |  |  | 9,087 |  |  |  | 8,592 |  |  |  | 1,362 |  |  |  | 148,461 |
|  | 12/31/2020 |
|  | 0-1 year |  |  | 1-2 years |  |  | 2-3 years |  |  | 3-4 years |  |  | 4-5 years |  |  | 5-10 years |  |  | over 10 years |  |  | Total |
Hedge of deposits and repurchase agreements |  |  | 70,200 |  |  |  | 9,077 |  |  |  | 13,059 |  |  |  | 5,504 |  |  |  | 4,848 |  |  |  | 719 |  |  |  | — |  |  |  | 103,407 |
Hedge of highly probable forecast transactions |  |  | 1,314 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,314 |
Hedge of net investment in foreign operations (*) |  |  | 24,619 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 24,619 |
Hedge of loan operations (Fair value) |  |  | 2,999 |  |  |  | 1,793 |  |  |  | 1,297 |  |  |  | 447 |  |  |  | 898 |  |  |  | 1,771 |  |  |  | — |  |  |  | 9,205 |
Hedge of loan operations (Cash flow) |  |  | 212 |  |  |  | 104 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 316 |
Hedge of funding (Fair value) |  |  | 213 |  |  |  | 657 |  |  |  | 549 |  |  |  | 176 |  |  |  | 581 |  |  |  | 5,448 |  |  |  | 2,576 |  |  |  | 10,200 |
Hedge of funding (Cash flow) |  |  | 1,765 |  |  |  | 27 |  |  |  | 204 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,996 |
Hedge of assets transactions |  |  | 3,604 |  |  |  | 2,139 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5,743 |
Hedge of asset-backed securities under repurchase agreements |  |  | 22,186 |  |  |  | 2,297 |  |  |  | 6,130 |  |  |  | — |  |  |  | 804 |  |  |  | — |  |  |  | — |  |  |  | 31,417 |
Hedge of assets denominated in UF |  |  | 15,400 |  |  |  | 1,277 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 16,677 |
Hedge of securities at fair value through other comprehensive income |  |  | 5,876 |  |  |  | 1,382 |  |  |  | 10 |  |  |  | — |  |  |  | 719 |  |  |  | 2,396 |  |  |  | — |  |  |  | 10,383 |
Total |  |  | 148,388 |  |  |  | 18,753 |  |  |  | 21,249 |  |  |  | 6,127 |  |  |  | 7,850 |  |  |  | 10,334 |  |  |  | 2,576 |  |  |  | 215,277 |
(*) | Classified as current, since instruments are frequently renewed.
Schedule of the Effect of Hedge Accounting on the Financial Position and Performance | The effects of hedge accounting on the financial position and performance of ITAÚ UNIBANCO HOLDING are presented below:
|  | 12/31/2021 |
|  | Hedge Item |  |  | Hedge Instruments (2) |
|  |  |  |  |  |  |  |  |  |  |  |  |  | Variation in fair |
|  |  |  |  |  |  |  |  |  |  |  |  |  | Variation in fair value |  |  |  |  |  | value used to |
|  | Book Value (1) |  |  | Fair value |  |  | recognized in |  |  | Notional |  |  | calculate hedge |
Strategies |  | Assets |  |  | Liabilities |  |  | Assets |  |  | Liabilities |  |  | income |  |  | amount |  |  | ineffectiveness |
Interest rate risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedge of loan operations |  |  | 8,890 |  |  |  | — |  |  |  | 8,917 |  |  |  | — |  |  |  | 27 |  |  |  | 8,890 |  |  |  | (28 | )
Hedge of funding |  |  | — |  |  |  | 11,051 |  |  |  | — |  |  |  | 10,661 |  |  |  | 390 |  |  |  | 11,051 |  |  |  | (388 | )
Hedge of securities at fair value through other comprehensive income |  |  | 3,187 |  |  |  | — |  |  |  | 2,976 |  |  |  | — |  |  |  | (211 | ) |  |  | 3,220 |  |  |  | 206 |
Total |  |  | 12,077 |  |  |  | 11,051 |  |  |  | 11,893 |  |  |  | 10,661 |  |  |  | 206 |  |  |  | 23,161 |  |  |  | (210 | )
|  | 12/31/2020 |
|  | Hedge Item |  |  | Hedge Instruments (2) |
|  | Book Value (1) |  |  | Fair value |  |  | Variation in fair value recognized in income |  |  | Notional amount |  |  | Variation in fair value used to calculate hedge ineffectiveness |
Strategies |  | Assets |  |  | Liabilities |  |  | Assets |  |  | Liabilities |
Interest rate risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedge of loan operations |  |  | 9,205 |  |  |  | — |  |  |  | 9,616 |  |  |  | — |  |  |  | 411 |  |  |  | 9,205 |  |  |  | (423 | )
Hedge of funding |  |  | — |  |  |  | 10,200 |  |  |  | — |  |  |  | 11,591 |  |  |  | (1,391 | ) |  |  | 10,200 |  |  |  | 1,390 |
Hedge of securities at fair value through other comprehensive income |  |  | 10,192 |  |  |  | — |  |  |  | 10,412 |  |  |  | — |  |  |  | 220 |  |  |  | 10,383 |  |  |  | (226 | )
Total |  |  | 19,397 |  |  |  | 10,200 |  |  |  | 20,028 |  |  |  | 11,591 |  |  |  | (760 | ) |  |  | 29,788 |  |  |  | 741 |
(1) | Amounts recorded under heading Deposits, Securities, Funds from Interbank Markets and Loan and Lease Operations.
(2) | Comprises the amount of R$ 6,422 (R$ 4,915 at 12/31/2020) related to instruments exposed by the change in reference interest rates - IBORs.
Fair value hedge [Member] |
Statement [Line Items] |
Summary of Hedge Accounting |
|  | 12/31/2021 |
|  | Notional amount |  |  | Book value (1) |  |  | Variation in fair value used to calculate hedge ineffectiveness |  |  | Hedge ineffectiveness recognized in income |
Hedge Instruments |  | Assets |  |  | Liabilities |
Interest rate risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Swap |  |  | 23,161 |  |  |  | 2 |  |  |  | 5,428 |  |  |  | (210 | ) |  |  | (4 | )
Total |  |  | 23,161 |  |  |  | 2 |  |  |  | 5,428 |  |  |  | (210 | ) |  |  | (4 | )
|  | 12/31/2020 |
|  | Notional amount |  |  | Book value (1) |  |  | Variation in fair value used to calculate hedge ineffectiveness |  |  | Hedge ineffectiveness recognized in income |
Hedge Instruments |  | Assets |  |  | Liabilities |
Interest rate risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Swap |  |  | 29,788 |  |  |  | 2,871 |  |  |  | 5,812 |  |  |  | 741 |  |  |  | (19 | )
Total |  |  | 29,788 |  |  |  | 2,871 |  |  |  | 5,812 |  |  |  | 741 |  |  |  | (19 | )
(1) | Amounts recorded under heading Derivatives.
Hedges of net investment in foreign operations [member] |
Statement [Line Items] |
Summary of Hedge Accounting |
|  | 12/31/2021 |
|  |  |  |  |  |  |  |  |  |  | Variations in fair value used to calculate hedge ineffectiveness |  |  | Variation in the value recognized in Other comprehensive income |  |  | Hedge ineffectiveness recognized in income |  |  | Amount reclassified from foreign currency convertion reserve into income |
|  | Notional amount |  |  | Book Value (*) |
Hedge instruments |  | Assets |  |  | Liabilities |
Foreign exchange risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Futures |  |  | 2,126 |  |  |  | 286 |  |  |  | — |  |  |  | (3,252 | ) |  |  | (3,241 | ) |  |  | (11 | ) |  |  | — |
Futures / NDF - Non Deliverable |  |  | 6,000 |  |  |  | 208 |  |  |  | — |  |  |  | (3,502 | ) |  |  | (3,529 | ) |  |  | 27 |  |  |  | — |
Futures / Financial Assets |  |  | 5,762 |  |  |  | 6,566 |  |  |  | 3,653 |  |  |  | (7,934 | ) |  |  | (7,931 | ) |  |  | (3 | ) |  |  | — |
Total |  |  | 13,888 |  |  |  | 7,060 |  |  |  | 3,653 |  |  |  | (14,688 | ) |  |  | (14,701 | ) |  |  | 13 |  |  |  | — |
|  | 12/31/2021 |
|  |  |  |  |  |  |  |  |  |  | Variations in fair value used to calculate hedge ineffectiveness |  |  | Variation in the value recognized in Other comprehensive income |  |  | Hedge ineffectiveness recognized in income |  |  | Amount reclassified from foreign currency convertion reserve into income |
|  | Notional amount |  |  | Book Value (*) |
Hedge instruments |  | Assets |  |  | Liabilities |
Foreign exchange risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Futures |  |  | 5,052 |  |  |  | — |  |  |  | 31 |  |  |  | (3,844 | ) |  |  | (3,836 | ) |  |  | (8 | ) |  |  | — |
Futures / NDF - Non Deliverable |  |  | 15,196 |  |  |  | 445 |  |  |  | — |  |  |  | (8,006 | ) |  |  | (7,993 | ) |  |  | (13 | ) |  |  | — |
Futures / Financial Assets |  |  | 4,371 |  |  |  | 4,556 |  |  |  | 2,762 |  |  |  | (2,751 | ) |  |  | (2,769 | ) |  |  | 18 |  |  |  | — |
Total |  |  | 24,619 |  |  |  | 5,001 |  |  |  | 2,793 |  |  |  | (14,601 | ) |  |  | (14,598 | ) |  |  | (3 | ) |  |  | — |
(*) | Amounts recorded under heading Derivatives.
Cash flow hedges [member] |
Statement [Line Items] |
Summary of Hedge Accounting |
|  | 12/31/2021 |
|  | Notional |  |  | Book Value (*) |  |  | Variations in fair value used to calculate hedge |  |  | Variation in value recognized in Other comprehensive |  |  | Hedge ineffectiveness recognized in |  |  | Amount reclassified from Cash flow hedge |
Hedge Instruments |  | amount |  |  | Assets |  |  | Liabilities |  |  | ineffectiveness |  |  | income |  |  | income |  |  | reserve to income |
Interest rate risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Futures |  |  | 87,311 |  |  |  | 144 |  |  |  | — |  |  |  | (1,035 | ) |  |  | (1,030 | ) |  |  | (5 | ) |  |  | (13 | )
Swap |  |  | 20,593 |  |  |  | 5,749 |  |  |  | 14,688 |  |  |  | (96 | ) |  |  | (97 | ) |  |  | 1 |  |  |  | — |
Foreign exchange risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Futures |  |  | 3,508 |  |  |  | — |  |  |  | 3,665 |  |  |  | 185 |  |  |  | 185 |  |  |  | — |  |  |  | — |
Total |  |  | 111,412 |  |  |  | 5,893 |  |  |  | 18,353 |  |  |  | (946 | ) |  |  | (942 | ) |  |  | (4 | ) |  |  | (13 | )
|  | 12/31/2020 |
|  | Notional |  |  | Book Value (*) |  |  | Variations in fair value used to calculate hedge |  |  | Variation in value recognized in Other comprehensive |  |  | Hedge ineffectiveness recognized in |  |  | Amount reclassified from Cash flow hedge |
Hedge Instruments |  | amount |  |  | Assets |  |  | Liabilities |  |  | ineffectiveness |  |  | income |  |  | income |  |  | reserve to income |
Interest rate risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Futures |  |  | 140,567 |  |  |  | 146 |  |  |  | — |  |  |  | (1,664 | ) |  |  | (1,660 | ) |  |  | (4 | ) |  |  | (381 | )
Swap |  |  | 18,989 |  |  |  | 2,007 |  |  |  | 17,006 |  |  |  | 3 |  |  |  | (2 | ) |  |  | 5 |  |  |  | — |
Foreign exchange risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Futures |  |  | 1,314 |  |  |  | 5 |  |  |  | 298 |  |  |  | (105 | ) |  |  | (105 | ) |  |  | — |  |  |  | — |
Total |  |  | 160,870 |  |  |  | 2,158 |  |  |  | 17,304 |  |  |  | (1,766 | ) |  |  | (1,767 | ) |  |  | 1 |  |  |  | (381 | )
(*) | Amounts recorded under heading Derivatives.
Schedule of Each Strategy of Nominal Value and Fair Value Adjustments of Hedge Instruments and Book Value of Hedged Item |
|  |  |  | 12/31/2021 |
|  |  |  | Hedged item |  |  | Hedge instrument |
|  |  |  | Book Value |  |  | Variation in value recognized in Other |  |  | Cash flow hedge |  |  | Notional |  |  | Variation in fair value used to calculate hedge |
Strategies |  | Heading |  | Assets |  |  | Liabilities |  |  | comprehensive income |  |  | reserve |  |  | Amount |  |  | ineffectiveness |
Interest rate risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedge of deposits and repurchase agreements |  | Securities purchased under agreements to resell |  |  | — |  |  |  | 39,142 |  |  |  | 1,065 |  |  |  | 1,065 |  |  |  | 39,136 |  |  |  | 1,072 |
Hedge of assets transactions |  | Loans and lease operations and Securities |  |  | 8,621 |  |  |  | — |  |  |  | (409 | ) |  |  | (409 | ) |  |  | 8,213 |  |  |  | (409 | )
Hedge of asset-backed securities under repurchase agreements |  | Securities purchased under agreements to resell |  |  | 40,526 |  |  |  | — |  |  |  | (1,686 | ) |  |  | (1,686 | ) |  |  | 39,962 |  |  |  | (1,698 | )
Hedge of loan operations |  | Loans and lease operations |  |  | 131 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 131 |  |  |  | 1 |
Hedge of funding |  | Deposits |  |  | — |  |  |  | 5,749 |  |  |  | 30 |  |  |  | 30 |  |  |  | 5,779 |  |  |  | 30 |
Hedge of assets denominated in UF |  | Securities |  |  | 14,558 |  |  |  | — |  |  |  | (127 | ) |  |  | (127 | ) |  |  | 14,683 |  |  |  | (127 | )
Foreign exchange risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedge of highly probable forecast transactions |  |  |  |  | 3,508 |  |  |  | — |  |  |  | 185 |  |  |  | 740 |  |  |  | 3,508 |  |  |  | 185 |
Total |  |  |  |  | 67,344 |  |  |  | 44,891 |  |  |  | (942 | ) |  |  | (387 | ) |  |  | 111,412 |  |  |  | (946 | )
|  |  |  | 12/31/2020 |
|  |  |  | Hedged item |  |  | Hedge instrument |
|  |  |  | Book Value |  |  | Variation in value recognized in Other |  |  | Cash flow hedge |  |  | Notional |  |  | Variation in fair value used to calculate hedge |
Strategies |  | Heading |  | Assets |  |  | Liabilities |  |  | comprehensive income |  |  | reserve |  |  | Amount |  |  | ineffectiveness |
Interest rate risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedge of deposits and repurchase agreements |  | Securities purchased under agreements to resell |  |  | — |  |  |  | 103,407 |  |  |  | (2,423 | ) |  |  | (2,458 | ) |  |  | 103,407 |  |  |  | (2,429 | )
Hedge of assets transactions |  | Loans and lease operations and Securities |  |  | 5,673 |  |  |  | — |  |  |  | 66 |  |  |  | 66 |  |  |  | 5,743 |  |  |  | 66 |
Hedge of asset-backed securities under repurchase agreements |  | Securities purchased under agreements to resell |  |  | 29,533 |  |  |  | — |  |  |  | 697 |  |  |  | 697 |  |  |  | 31,417 |  |  |  | 699 |
Hedge of loan operations |  | Loans and lease operations |  |  | 327 |  |  |  | — |  |  |  | 12 |  |  |  | 12 |  |  |  | 316 |  |  |  | 15 |
Hedge of funding |  | Deposits |  |  | — |  |  |  | 2,007 |  |  |  | (10 | ) |  |  | (10 | ) |  |  | 1,996 |  |  |  | (11 | )
Hedge of assets denominated in UF |  | Securities |  |  | 16,674 |  |  |  | — |  |  |  | (4 | ) |  |  | (4 | ) |  |  | 16,677 |  |  |  | (1 | )
Foreign exchange risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedge of highly probable forecast transactions |  |  |  |  | 1,314 |  |  |  | — |  |  |  | (105 | ) |  |  | 148 |  |  |  | 1,314 |  |  |  | (105 | )
Total |  |  |  |  | 53,521 |  |  |  | 105,414 |  |  |  | (1,767 | ) |  |  | (1,549 | ) |  |  | 160,870 |  |  |  | (1,766 | )
investment abroad designated as hedged item [Member] |
Statement [Line Items] |
Summary of Hedge Accounting | Instead, ITAÚ UNIBANCO HOLDING uses the Dollar Offset Method, which is based on a comparison of the change in fair value (cash flow) of the hedging instrument, attributable to changes in the exchange rate and the gain (loss) arising from variations in exchange rates on the amount of investment abroad designated as the object of the hedge.
|  | 12/31/2021 |
|  | Hedged item |  |  | Hedge instrument |
|  | Book Value (2) |  |  | Variation in value recognized in Other |  |  | Foreign currency |  |  | Notional |  |  | Variation in fair value used to calculate hedge |
Strategies |  | Assets |  |  | Liabilities |  |  | comprehensive income |  |  | convertion reserve |  |  | amount |  |  | ineffectiveness |
Foreign exchange risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedge of net investment in foreign operations (1) |  |  | 9,646 |  |  |  | — |  |  |  | (14,701 | ) |  |  | (14,701 | ) |  |  | 13,888 |  |  |  | (14,688 | )
Total |  |  | 9,646 |  |  |  | — |  |  |  | (14,701 | ) |  |  | (14,701 | ) |  |  | 13,888 |  |  |  | (14,688 | )
|  | 12/31/2020 |
|  | Hedged item |  |  | Hedge instrument |
|  | Book Value (2) |  |  | Variation in value recognized in Other |  |  | Foreign currency |  |  | Notional |  |  | Variation in fair value used to calculate hedge |
Strategies |  | Assets |  |  | Liabilities |  |  | comprehensive income |  |  | convertion reserve |  |  | amount |  |  | ineffectiveness |
Foreign exchange risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedge of net investment in foreign operations (1) |  |  | 15,277 |  |  |  | — |  |  |  | (14,598 | ) |  |  | (14,598 | ) |  |  | 24,619 |  |  |  | (14,601 | )
Total |  |  | 15,277 |  |  |  | — |  |  |  | (14,598 | ) |  |  | (14,598 | ) |  |  | 24,619 |  |  |  | (14,601 | )
(1) | Hedge instruments consider the gross tax position.
(2) | Amounts recorded under heading Derivatives.

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