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Financial assets and liabilities
 6 Months Ended
Jun. 30, 2023
Notes and other explanatory information [abstract]  
Financial assets and liabilities

 

19.Financial assets and liabilities

 

The Company classifies its financial instruments in accordance with the purpose for which they were acquired, and determines the classification and initial recognition according to the following categories:

 

 

     
    June 30, 2023 December 31, 2022
Financial assets Notes Amortized cost At fair value through OCI At fair value through profit or loss Total Amortized cost At fair value through OCI At fair value through profit or loss Total
Current                  
Cash and cash equivalents 21 4,983 - - 4,983 4,736 - - 4,736
Short-term investments 21 - - 46 46 - - 61 61
Derivative financial instruments 18 - - 522 522 - - 342 342
Accounts receivable 10 424   2,543 2,967 538 - 3,781 4,319
    5,407 - 3,111 8,518 5,274 - 4,184 9,458
Non-current                  
Judicial deposits 26(c) 1,326 - - 1,326 1,215 - - 1,215
Restricted cash   108 - - 108 77 - - 77
Derivative financial instruments 18 - - 559 559 - - 196 196
Investments in equity securities 13 - 31 - 31 - 7 - 7
    1,434 31 559 2,024 1,292 7 196 1,495
Total of financial assets   6,841 31 3,670 10,542 6,566 7 4,380 10,953
                   
Financial liabilities                  
Current                  
Suppliers and contractors 12 5,240 - - 5,240 4,461 - - 4,461
Derivative financial instruments 18 - - 47 47 - - 90 90
Loans, borrowings and leases 21 912 - - 912 489 - - 489
Liabilities related to the concession grant 13(a) 611 - - 611 416 - - 416
Other financial liabilities - Related parties 29 187 - - 187 400 - - 400
Contract liability and other financial liabilities   754 - - 754 766 - - 766
    7,704 - 47 7,751 6,532 - 90 6,622
Non-current                  
Derivative financial instruments 18 - - 98 98 - - 186 186
Loans, borrowings and leases 21 13,025 - - 13,025 12,223 - - 12,223
Participative shareholders' debentures 20 - - 2,528 2,528 - - 2,725 2,725
Liabilities related to the concession grant 13(a) 2,673 - - 2,673 2,554 - - 2,554
Financial guarantees   - - - - - - 103 103
    15,698 - 2,626 18,324 14,777 - 3,014 17,791
Total of financial liabilities   23,402 - 2,673 26,075 21,309 - 3,104 24,413

 

a) Hierarchy of fair value

 

 

       
    June 30, 2023 December 31, 2022
  Notes Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total
Financial assets                  
Short-term investments 21 46 - - 46 61 - - 61
Derivative financial instruments 18 - 1,081 - 1,081 - 538 - 538
Accounts receivable 10 - 2,543 - 2,543 - 3,781 - 3,781
Investments in equity securities 13 - 31 - 31 - 7 - 7
    46 3,655 - 3,701 61 4,326 - 4,387
                   
Financial liabilities                  
Derivative financial instruments 18 - 145 - 145 - 276 - 276
Participative shareholders' debentures 20 - 2,528 - 2,528 - 2,725 - 2,725
Financial guarantees   - - - - - 103 - 103
    - 2,673 - 2,673 - 3,104 - 3,104

 

There were no transfers between levels 1, 2 and 3 of the fair value hierarchy during the period presented.

 

 

b) Fair value of loans and borrowings

 

     
  June 30, 2023 December 31, 2022
  Carrying amount Fair value Carrying amount Fair value
Quoted in the secondary market:        
Bonds 7,157 7,175 6,157 6,253
Debentures 227 223 233 225
Debt contracts in Brazil in:        
R$, indexed to TJLP, TR, IPCA, IGP-M and CDI 276 276 278 278
R$, with fixed interest - - 2 2
Debt contracts in the international market in:        
US$, with variable and fixed interest 4,512 3,587 4,266 4,391
Other currencies, with variable interest 9 5 9 9
Other currencies, with fixed interest 80 69 89 91
  12,261 11,335 11,034 11,249