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Taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
Text Block [Abstract] |
Summary of Calculation of Tax Rates | Taxes are calculated at the rates shown below and consider, for effects of respective calculation bases, the legislation in force applicable to each charge.
Income tax |  |  | 15.00 | %
Additional income tax |  |  | 10.00 | %
Social contribution on net income (1) |  |  | 25.00 | %
(1) | Law No. 14,183/21 (conversion of Provisional Measure (MP) No. 1,034/21): published on July 15, 2021, sets forth the increase in the rate of Social Contribution on Net Income of banks, which increased to 25%. For insurance, capitalization and other financial companies, it increased to 20% and for non-financial companies it remained at 9%. The increase in rate is applied as from July 1 to December 31, 2021.
Summary of Breakdown of Income Tax and Social Contribution Expense | Breakdown of income tax and social contribution calculation on net income:
Due on operations for the period |  | 01/01 to 12/31/2021 |  |  | 01/01 to 12/31/2020 |  |  | 01/01 to 12/31/2019 |
Income / (loss) before income tax and social contribution |  |  | 42,231 |  |  |  | 5,230 |  |  |  | 31,243 |
Charges (income tax and social contribution) at the rates in effect (1) |  |  | (19,989 | ) |  |  | (2,354 | ) |  |  | (12,497 | )
Increase / decrease in income tax and social contribution charges arising from: |  |  |  |  |  |  |  |  |  |  |  |
Share of profit or (loss) of associates and joint ventures |  |  | 821 |  |  |  | 384 |  |  |  | 614 |
Foreign exchange variation on investments abroad |  |  | 437 |  |  |  | 7,201 |  |  |  | 711 |
Interest on capital |  |  | 2,889 |  |  |  | 2,765 |  |  |  | 3,012 |
Other nondeductible expenses net of non taxable income (2) |  |  | 9,181 |  |  |  | (16,651 | ) |  |  | (932 | )
Income tax and social contribution expenses |  |  | (6,661 | ) |  |  | (8,655 | ) |  |  | (9,092 | )
Related to temporary differences |  |  |  |  |  |  |  |  |  |  |  |
Increase / (reversal) for the period |  |  | (7,186 | ) |  |  | 18,489 |  |  |  | 5,750 |
Increase / (reversal) of prior periods |  |  | — |  |  |  | — |  |  |  | (88 | )
(Expenses) / Income from deferred taxes |  |  | (7,186 | ) |  |  | 18,489 |  |  |  | 5,662 |
Total income tax and social contribution expenses |  |  | (13,847 | ) |  |  | 9,834 |  |  |  | (3,430 | )
(1) | It considers that in the first half of 2021 the current IRPJ and CSLL rate is equal to 45% and, in the second half of 2021, it is equal to 50%.
(2) | Includes temporary (additions) and exclusions.
Summary of Deferred Tax Asset Balance and Respective Changes | I - The deferred tax asset balance and its changes, segregated based on its origin and disbursements, are represented by:
|  | 12/31/2020 |  |  | Realization / Reversal |  |  | Increase |  |  | 12/31/2021 |
Reflected in income |  |  | 60,248 |  |  |  | (24,407 | ) |  |  | 17,148 |  |  |  | 52,989 |
Provision for expected loss |  |  | 27,933 |  |  |  | (6,274 | ) |  |  | 6,769 |  |  |  | 28,428 |
Related to tax losses and social contribution loss carryforwards |  |  | 5,528 |  |  |  | (1,952 | ) |  |  | 175 |  |  |  | 3,751 |
Provision for profit sharing |  |  | 1,903 |  |  |  | (1,903 | ) |  |  | 2,265 |  |  |  | 2,265 |
Provision for devaluation of securities with permanent impairment |  |  | 1,570 |  |  |  | (1,013 | ) |  |  | 441 |  |  |  | 998 |
Provisions |  |  | 5,845 |  |  |  | (1,923 | ) |  |  | 1,926 |  |  |  | 5,848 |
Civil lawsuits |  |  | 1,331 |  |  |  | (591 | ) |  |  | 517 |  |  |  | 1,257 |
Labor claims |  |  | 3,056 |  |  |  | (1,188 | ) |  |  | 1,307 |  |  |  | 3,175 |
Tax and social security lawsuits |  |  | 1,458 |  |  |  | (144 | ) |  |  | 102 |  |  |  | 1,416 |
Legal obligations |  |  | 774 |  |  |  | (36 | ) |  |  | 84 |  |  |  | 822 |
Adjustments of operations carried out on the futures settlement market |  |  | 52 |  |  |  | (52 | ) |  |  | — |  |  |  | — |
Adjustment to Fair Value of Financial Assets – At Fair Value Through Profit or Loss |  |  | 8,315 |  |  |  | (8,315 | ) |  |  | 2,726 |  |  |  | 2,726 |
Provision relating to health insurance operations |  |  | 356 |  |  |  | — |  |  |  | 6 |  |  |  | 362 |
Other |  |  | 7,972 |  |  |  | (2,939 | ) |  |  | 2,756 |  |  |  | 7,789 |
Reflected in stockholders’ equity |  |  | 1,375 |  |  |  | (343 | ) |  |  | 1,299 |  |  |  | 2,331 |
Adjustment to Fair Value of Financial Assets – At Fair Value Through Other Comprehensive Income |  |  | 60 |  |  |  | (30 | ) |  |  | 1,299 |  |  |  | 1,329 |
Cash flow hedge |  |  | 758 |  |  |  | (297 | ) |  |  | — |  |  |  | 461 |
Other |  |  | 557 |  |  |  | (16 | ) |  |  | — |  |  |  | 541 |
Total (1) (2) |  |  | 61,623 |  |  |  | (24,750 | ) |  |  | 18,447 |  |  |  | 55,320 |
(1) | Deferred income tax and social contribution assets and liabilities are recorded in the balance sheet offset by a taxable entity and amounting to R$ 50,831 and R$ 280, respectively.
(2) | The accounting records of deferred tax assets on income tax losses and/or social contribution loss carryforwards, as well as those arising from temporary differences, are based on technical feasibility studies which consider the expected generation of future taxable income, considering the history of profitability for each subsidiary individually, and for the consolidated taken as a whole.
|  | 12/31/2019 |  |  | Realization / Reversal |  |  | Increase |  |  | 12/31/2020 |
Reflected in income |  |  | 43,380 |  |  |  | (12,631 | ) |  |  | 29,499 |  |  |  | 60,248 |
Provision for expected loss |  |  | 22,860 |  |  |  | (3,885 | ) |  |  | 8,958 |  |  |  | 27,933 |
Related to tax losses and social contribution loss carryforwards |  |  | 2,585 |  |  |  | (540 | ) |  |  | 3,483 |  |  |  | 5,528 |
Provision for profit sharing |  |  | 2,162 |  |  |  | (2,162 | ) |  |  | 1,903 |  |  |  | 1,903 |
Provision for devaluation of securities with permanent impairment |  |  | 1,530 |  |  |  | (877 | ) |  |  | 917 |  |  |  | 1,570 |
Provisions |  |  | 6,208 |  |  |  | (2,064 | ) |  |  | 1,701 |  |  |  | 5,845 |
Civil lawsuits |  |  | 1,413 |  |  |  | (547 | ) |  |  | 465 |  |  |  | 1,331 |
Labor claims |  |  | 3,251 |  |  |  | (1,338 | ) |  |  | 1,143 |  |  |  | 3,056 |
Tax and social security lawsuits |  |  | 1,544 |  |  |  | (179 | ) |  |  | 93 |  |  |  | 1,458 |
Legal obligations |  |  | 723 |  |  |  | (7 | ) |  |  | 58 |  |  |  | 774 |
Adjustments of operations carried out in futures settlement market |  |  | 84 |  |  |  | (84 | ) |  |  | 52 |  |  |  | 52 |
Adjustment to Fair Value of Financial Assets – At Fair Value Through Profit or Loss |  |  | 738 |  |  |  | (738 | ) |  |  | 8,315 |  |  |  | 8,315 |
Provision relating to health insurance operations |  |  | 348 |  |  |  | — |  |  |  | 8 |  |  |  | 356 |
Other |  |  | 6,142 |  |  |  | (2,274 | ) |  |  | 4,104 |  |  |  | 7,972 |
Reflected in stockholders’ equity |  |  | 2,354 |  |  |  | (1,191 | ) |  |  | 212 |  |  |  | 1,375 |
Adjustment to Fair Value of Financial Assets – At Fair Value Through Other Comprehensive Income |  |  | 766 |  |  |  | (762 | ) |  |  | 56 |  |  |  | 60 |
Cash flow hedge |  |  | 1,187 |  |  |  | (429 | ) |  |  | — |  |  |  | 758 |
Other |  |  | 401 |  |  |  | — |  |  |  | 156 |  |  |  | 557 |
Total (1) (2) |  |  | 45,734 |  |  |  | (13,822 | ) |  |  | 29,711 |  |  |  | 61,623 |
(1) | Deferred income tax and social contribution assets and liabilities are recorded in the balance sheet offset by a taxable entity and amounting to R$ 56,583 and R$ 421, respectively.
(2) | At 12/31/2019, deferred tax asset balance comprised its annual revaluation and effects caused by EC 103/2019 in tax rate of the Social Contribution on Net Income, which was increased from 15% to 20%, reaching the institutions set forth in item I of paragraph 1 of article 1 of Supplementary Law No. 105, of January 10, 2001, totaling R$ 1,614.
II - The deferred tax liabilities and its changes are represented by:
|  | 12/31/2020 |  |  | Realization / reversal |  |  | Increase |  |  | 12/31/2021 |
Reflected in income |  |  | 4,853 |  |  |  | (1,029 | ) |  |  | 756 |  |  |  | 4,580 |
Depreciation in excess finance lease |  |  | 145 |  |  |  | (8 | ) |  |  | — |  |  |  | 137 |
Adjustment of deposits in guarantee and provisions |  |  | 1,404 |  |  |  | (21 | ) |  |  | 39 |  |  |  | 1,422 |
Post-employment benefits |  |  | 180 |  |  |  | (178 | ) |  |  | 4 |  |  |  | 6 |
Adjustments of operations carried out on the futures settlement market |  |  | 452 |  |  |  | (452 | ) |  |  | 237 |  |  |  | 237 |
Adjustment to Fair Value of Financial Assets - At Fair Value Through Profit or Loss |  |  | 136 |  |  |  | (136 | ) |  |  | 71 |  |  |  | 71 |
Taxation of results abroad – capital gains |  |  | 644 |  |  |  | (7 | ) |  |  | 197 |  |  |  | 834 |
Other |  |  | 1,892 |  |  |  | (227 | ) |  |  | 208 |  |  |  | 1,873 |
Reflected in stockholders’ equity |  |  | 608 |  |  |  | (580 | ) |  |  | 161 |  |  |  | 189 |
Adjustment to Fair Value of Financial Assets - At Fair Value Through Other Comprehensive Income |  |  | 601 |  |  |  | (577 | ) |  |  | 158 |  |  |  | 182 |
Cash flow hedge |  |  | 4 |  |  |  | (3 | ) |  |  | — |  |  |  | 1 |
Post-employment benefits |  |  | 3 |  |  |  | — |  |  |  | 3 |  |  |  | 6 |
Total (*) |  |  | 5,461 |  |  |  | (1,609 | ) |  |  | 917 |  |  |  | 4,769 |
(*) | Deferred income tax and social contribution asset and liabilities are recorded in the balance sheet offset by a taxable entity and amounting to R$ 50,831 and R$ 280, respectively.
|  | 12/31/2019 |  |  | Realization / reversal |  |  | Increase |  |  | 12/31/2020 |
Reflected in income |  |  | 6,610 |  |  |  | (2,951 | ) |  |  | 1,194 |  |  |  | 4,853 |
Depreciation in excess finance lease |  |  | 202 |  |  |  | (57 | ) |  |  | — |  |  |  | 145 |
Adjustment of deposits in guarantee and provisions |  |  | 1,531 |  |  |  | (133 | ) |  |  | 6 |  |  |  | 1,404 |
Post-employment benefits |  |  | 282 |  |  |  | (111 | ) |  |  | 9 |  |  |  | 180 |
Adjustments of operations carried out on the futures settlement market |  |  | 1,330 |  |  |  | (1,330 | ) |  |  | 452 |  |  |  | 452 |
Adjustment to Fair Value of Financial Assets - At Fair Value Through Profit or Loss |  |  | 1,149 |  |  |  | (1,149 | ) |  |  | 136 |  |  |  | 136 |
Taxation of results abroad – capital gains |  |  | 581 |  |  |  | — |  |  |  | 63 |  |  |  | 644 |
Other |  |  | 1,535 |  |  |  | (171 | ) |  |  | 528 |  |  |  | 1,892 |
Reflected in stockholders’ equity |  |  | 1,268 |  |  |  | (859 | ) |  |  | 199 |  |  |  | 608 |
Adjustment to Fair Value of Financial Assets - At Fair Value Through Other Comprehensive Income |  |  | 1,228 |  |  |  | (826 | ) |  |  | 199 |  |  |  | 601 |
Cash flow hedge |  |  | 30 |  |  |  | (26 | ) |  |  | — |  |  |  | 4 |
Post-employment benefits |  |  | 10 |  |  |  | (7 | ) |  |  | — |  |  |  | 3 |
Total (*) |  |  | 7,878 |  |  |  | (3,810 | ) |  |  | 1,393 |  |  |  | 5,461 |
(*) | Deferred income tax and social contribution asset and liabilities are recorded in the balance sheet offset by a taxable entity and amounting to R$ 56,583 and R$ 421, respectively.
Summary of Realization and Present Value of Tax Credits and From Provision for Deferred Income Tax and Social Contribution | III - The estimate of realization and present value of deferred tax assets and deferred tax liabilities are:
|  | Deferred tax assets |  |  |  |  |  |  |  |  |  |  |  |  |
Year of realization |  | Temporary differences |  |  | % |  |  | Tax loss / social contribution loss carryforwards |  |  | % |  |  | Total |  |  | % |  |  | Deferred tax liabilities |  |  | % |  |  | Net deferred taxes |  |  | % |
2022 |  |  | 14,278 |  |  |  | 27.7 | % |  |  | 637 |  |  |  | 17.0 | % |  |  | 14,915 |  |  |  | 27.0 | % |  |  | (151 | ) |  |  | 3.2 | % |  |  | 14,764 |  |  |  | 29.2 | %
2023 |  |  | 15,661 |  |  |  | 30.4 | % |  |  | 697 |  |  |  | 18.6 | % |  |  | 16,358 |  |  |  | 29.6 | % |  |  | (330 | ) |  |  | 6.9 | % |  |  | 16,028 |  |  |  | 31.7 | %
2024 |  |  | 9,883 |  |  |  | 19.2 | % |  |  | 581 |  |  |  | 15.5 | % |  |  | 10,464 |  |  |  | 18.9 | % |  |  | (64 | ) |  |  | 1.3 | % |  |  | 10,400 |  |  |  | 20.6 | %
2025 |  |  | 2,094 |  |  |  | 4.1 | % |  |  | 306 |  |  |  | 8.2 | % |  |  | 2,400 |  |  |  | 4.3 | % |  |  | (49 | ) |  |  | 1.0 | % |  |  | 2,351 |  |  |  | 4.7 | %
2026 |  |  | 2,002 |  |  |  | 3.9 | % |  |  | 312 |  |  |  | 8.3 | % |  |  | 2,314 |  |  |  | 4.2 | % |  |  | (95 | ) |  |  | 2.0 | % |  |  | 2,219 |  |  |  | 4.4 | %
After 2026 |  |  | 7,651 |  |  |  | 14.7 | % |  |  | 1,218 |  |  |  | 32.4 | % |  |  | 8,869 |  |  |  | 16.0 | % |  |  | (4,080 | ) |  |  | 85.6 | % |  |  | 4,789 |  |  |  | 9.4 | %
Total |  |  | 51,569 |  |  |  | 100.0 | % |  |  | 3,751 |  |  |  | 100.0 | % |  |  | 55,320 |  |  |  | 100.0 | % |  |  | (4,769 | ) |  |  | 100.0 | % |  |  | 50,551 |  |  |  | 100.0 | %
Present value (*) |  |  | 45,790 |  |  |  |  |  |  |  | 3,205 |  |  |  |  |  |  |  | 48,995 |  |  |  |  |  |  |  | (3,564) |  |  |  |  |  |  |  | 45,431 |  |  |  |  |
(*) | The average funding rate, net of tax effects, was used to determine the present value.
Summary of Tax Liabilities | c) Tax liabilities
|  | 12/31/2021 |  |  | 12/31/2020 |
Taxes and contributions on income payable |  |  | 2,450 |  |  |  | 2,878 |
Deferred tax liabilities (Note 24b II) |  |  | 280 |  |  |  | 421 |
Other |  |  | 3,516 |  |  |  | 2,411 |
Total |  |  | 6,246 |  |  |  | 5,710 |
Current |  |  | 5,788 |  |  |  | 4,819 |
Non-current |  |  | 458 |  |  |  | 891 |

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