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Goodwill and Intangible assets | 12 Months Ended
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Dec. 31, 2021
Text Block [Abstract] |
Goodwill and Intangible assets | Note 14 - Goodwill and Intangible assets
|  |  |  |  | Intangible assets |  |  |  |
|  | Goodwill and intangible from acquisition |  |  | Association for the promotion and offer of financial products and services |  |  | Software Acquired |  |  | Internally developed software |  |  | Other intangible assets (1) |  |  | Total |
Annual amortization rates |  |  |  |  |  |  | 8 | % |  |  | 20 | % |  |  | 20 | % |  |  | 10% to 20% |  |  |  |  |
Cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at 12/31/2020 |  |  | 13,959 |  |  |  | 2,822 |  |  |  | 6,484 |  |  |  | 7,664 |  |  |  | 3,274 |  |  |  | 34,203 |
Acquisitions (4) |  |  | — |  |  |  | 5 |  |  |  | 738 |  |  |  | 3,511 |  |  |  | 3,413 |  |  |  | 7,667 |
Rescissions / disposals |  |  | (10 | ) |  |  | — |  |  |  | (65 | ) |  |  | (13 | ) |  |  | (236 | ) |  |  | (324 | )
Exchange variation |  |  | (918 | ) |  |  | (155 | ) |  |  | (238 | ) |  |  | — |  |  |  | (20 | ) |  |  | (1,331 | )
Other (3,5) |  |  | — |  |  |  | (15 | ) |  |  | (443 | ) |  |  | (5 | ) |  |  | — |  |  |  | (463 | )
Balance at 12/31/2021 |  |  | 13,031 |  |  |  | 2,657 |  |  |  | 6,476 |  |  |  | 11,157 |  |  |  | 6,431 |  |  |  | 39,752 |
Amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at 12/31/2020 |  |  | — |  |  |  | (1,347 | ) |  |  | (3,680 | ) |  |  | (3,288 | ) |  |  | (1,410 | ) |  |  | (9,725 | )
Amortization expense (2) |  |  | — |  |  |  | (109 | ) |  |  | (819 | ) |  |  | (942 | ) |  |  | (791 | ) |  |  | (2,661 | )
Rescissions / disposals |  |  | — |  |  |  | — |  |  |  | 28 |  |  |  | 10 |  |  |  | 214 |  |  |  | 252 |
Exchange variation |  |  | — |  |  |  | 68 |  |  |  | 125 |  |  |  | — |  |  |  | 3 |  |  |  | 196 |
Other (3,5) |  |  | — |  |  |  | 14 |  |  |  | 197 |  |  |  | — |  |  |  | — |  |  |  | 211 |
Balance at 12/31/2021 |  |  | — |  |  |  | (1,374 | ) |  |  | (4,149 | ) |  |  | (4,220 | ) |  |  | (1,984 | ) |  |  | (11,727 | )
Impairment (Note 2.4h) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at 12/31/2020 |  |  | (5,772 | ) |  |  | (789 | ) |  |  | (204 | ) |  |  | (383 | ) |  |  | — |  |  |  | (7,148 | )
Increase |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (440 | ) |  |  | — |  |  |  | (440 | )
Disposals |  |  | — |  |  |  | — |  |  |  | 33 |  |  |  | — |  |  |  | — |  |  |  | 33 |
Exchange variation |  |  | 563 |  |  |  | 77 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 640 |
Balance at 12/31/2021 |  |  | (5,209 | ) |  |  | (712 | ) |  |  | (171 | ) |  |  | (823 | ) |  |  | — |  |  |  | (6,915 | )
Book value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at 12/31/2021 |  |  | 7,822 |  |  |  | 571 |  |  |  | 2,156 |  |  |  | 6,114 |  |  |  | 4,447 |  |  |  | 21,110 |
(1) | Includes amounts paid for acquisition of rights to provide services of payment of salaries, proceeds, retirement and pension benefits and similar benefits.
(2) | Amortization expenses related to the rights for acquisition of payrolls and associations, in the amount of R$ (860) (R$ (594) from 01/01 to 12/31/2020) are disclosed in the General and administrative expenses (Note 23).
(3) | Includes the total amount of R$ 34 related to the hyperinflationary adjustment for Argentina.
(4) | Other intangible assets: includes the effect of R$ 2,422 related to acquisition on 07/16/2021 of payroll management of the Government of the State of Minas Gerais.
(5) | Includes reclassifications of Software licenses necessary to put data processing systems into use, in the net amount of R$ 327.
|  |  |  |  | Intangible assets |  |  |  |
|  | Goodwill and intangible from acquisition |  |  | Association for the promotion and offer of financial products and services |  |  | Software Acquired |  |  | Internally developed software |  |  | Other intangible assets (1) |  |  | Total |
Annual amortization rates |  |  |  |  |  |  | 8 | % |  |  | 20 | % |  |  | 20 | % |  |  | 10% to 20% |  |  |  |  |
Cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at 12/31/2019 |  |  | 11,158 |  |  |  | 2,518 |  |  |  | 5,899 |  |  |  | 5,716 |  |  |  | 2,971 |  |  |  | 28,262 |
Acquisitions |  |  | 287 |  |  |  | — |  |  |  | 795 |  |  |  | 1,968 |  |  |  | 541 |  |  |  | 3,591 |
Rescissions / disposals |  |  | — |  |  |  | — |  |  |  | (1,121 | ) |  |  | (20 | ) |  |  | (137 | ) |  |  | (1,278 | )
Exchange variation |  |  | 2,514 |  |  |  | 320 |  |  |  | 901 |  |  |  | — |  |  |  | 232 |  |  |  | 3,967 |
Other (3) |  |  | — |  |  |  | (16 | ) |  |  | 10 |  |  |  | — |  |  |  | (333 | ) |  |  | (339 | )
Balance at 12/31/2020 |  |  | 13,959 |  |  |  | 2,822 |  |  |  | 6,484 |  |  |  | 7,664 |  |  |  | 3,274 |  |  |  | 34,203 |
Amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at 12/31/2019 |  |  | — |  |  |  | (1,057 | ) |  |  | (3,206 | ) |  |  | (2,497 | ) |  |  | (1,242 | ) |  |  | (8,002 | )
Amortization expense (2) |  |  | — |  |  |  | (174 | ) |  |  | (825 | ) |  |  | (779 | ) |  |  | (457 | ) |  |  | (2,235 | )
Rescissions / disposals |  |  | — |  |  |  | — |  |  |  | 834 |  |  |  | — |  |  |  | 136 |  |  |  | 970 |
Exchange variation |  |  | — |  |  |  | (126 | ) |  |  | (451 | ) |  |  | — |  |  |  | (174 | ) |  |  | (751 | )
Other (3) |  |  | — |  |  |  | 10 |  |  |  | (32 | ) |  |  | (12 | ) |  |  | 327 |  |  |  | 293 |
Balance at 12/31/2020 |  |  | — |  |  |  | (1,347 | ) |  |  | (3,680 | ) |  |  | (3,288 | ) |  |  | (1,410 | ) |  |  | (9,725 | )
Impairment (Note 2.4h) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at 12/31/2019 |  |  | — |  |  |  | — |  |  |  | (171 | ) |  |  | (370 | ) |  |  | — |  |  |  | (541 | )
Incresase |  |  | (5,772 | ) |  |  | (789 | ) |  |  | (33 | ) |  |  | (13 | ) |  |  | — |  |  |  | (6,607 | )
Disposals |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Balance at 12/31/2020 |  |  | (5,772 | ) |  |  | (789 | ) |  |  | (204 | ) |  |  | (383 | ) |  |  | — |  |  |  | (7,148 | )
Book value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at 12/31/2020 |  |  | 8,187 |  |  |  | 686 |  |  |  | 2,600 |  |  |  | 3,993 |  |  |  | 1,864 |  |  |  | 17,330 |
(1) | Includes amounts paid for acquisition of rights to provide services of payment of salaries, proceeds, retirement and pension benefits and similar benefits.
(2) | Amortization expenses related to the rights for acquisition of payrolls and associations, in the amount of R$ (594) (R$ (519) from 01/01 to 12/31/2019) are disclosed in the General and administrative expenses (Note 23).
(3) | Includes the total amount of R$ 17 related to the hyperinflationary adjustment for Argentina.
Goodwill and Intangible Assets from Acquisition are mainly represented by Itaú CorpBanca’s goodwill in the amount of R$ 3,375 (R$ 3,606 at 12/31/2020). ITAÚ UNIBANCO HOLDING recognized at June 30, 2020, adjustments to the recoverable amount of goodwill and intangible assets related to Itaú CorpBanca, in the amounts of R$ 5,772 and R$ 789. The value in use of the Cash Generating Unit (CGU) in which Itáu CorpBanca is allocated was considered and cash flows were based on the result of June 2020 and internal projects of results until 2025. The adjustment to recoverable amount results from economic conditions at June 30, 2020, of Itaú CorpBanca’s market capitalization, discount rates applicable and other changes in variables triggered by the current uncertain macroeconomic condition that, when combined, resulted in a CGU amount lower than its book value. The discount rates used for the impairment test were 10.4% for operations in Chile and 12.3% for operations in Colombia, determined by the cost of capital calculated based on CAPM model. Long-term interest rates considered were 5.2% p.a. and 6.5% p.a. for Chile and Colombia, respectively. The most sensitive assumptions are cost of capital and perpetuity growth rate. Impairment was recognized in the Consolidated Statement of Income under General and administrative expenses (Note 23).

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