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Employee benefits (Tables)
 12 Months Ended
Dec. 31, 2023
Employee Benefits  
Schedule of of employee related liabilities
         
    Current liabilities Non-current liabilities
  Notes December 31, 2023 December 31 ,2022 December 31, 2023 December 31 ,2022
Payroll, related charges and other remunerations 29(a) 867 831 - -
Share-based payment 29(b) 27 33 - -
Employee post-retirement obligation 29(c) 70 66 1,381 1,260
    964 930 1,381 1,260
Schedule of fair value of the matching program
   
  2023 2022
Granted shares 1,330,503 1,437,588
Share price 15.94 20.03
     
Schedule of assumptions used for the monte carlo simulation
   
  2023 2022
Granted shares 1,177,755 1,709,955
Date shares were granted January 2, 2023 January 3, 2022
Share price 16.6 13.81
Expected volatility 48.33% 39.00%
Expected term (in years) 3 3
Expected shareholder return indicator 72.42% 51.20%
Expected performance factor 79.32% 53.08%
     
Schedule of present value obligation
     
  Overfunded pension plans Underfunded pension plans Other benefits
Benefit obligation as of December 31, 2021 2,833 3,983 1,427
Service costs 45 40 13
Interest costs 325 39 60
Benefits paid (534) (58) (57)
Participant contributions - (30) -
Effect of changes in the actuarial assumptions (784) (109) (343)
Translation adjustment 5 (5) (24)
Others - - (19)
Transfer 3,252 (3,252) -
Benefit obligation as of December 31, 2022 5,142 608 1,057
Service costs 16 15 8
Interest costs 322 103 68
Benefits paid (479) (126) (56)
Participant contributions - - -
Effect of changes in the actuarial assumptions 468 130 44
Settlement - (836) -
Transfer to assets held for sale - (28) (12)
Other 3 10 (2)
Translation adjustment 246 41 43
Transfer (1,201) 1,201 -
Benefit obligation as of December 31, 2023 4,517 1,118 1,150
Schedule of evolution of assets fair value
     
  Overfunded pension plans Underfunded pension plans Other benefits
Fair value of plan assets as of December 31, 2021 3,752 3,779 -
Interest income 412 17 -
Employer contributions 45 14 57
Benefits paid (534) (58) (57)
Return on plan assets (excluding interest income) (752) (31) -
Translation adjustment 44 (9) -
Transfer 3,373 (3,373) -
Fair value of plan assets as of December 31, 2022 6,340 339 -
Interest income 429 85 -
Employer contributions 22 25 56
Benefits paid (479) (126) (56)
Return on plan assets (excluding interest income) 286 44 -
Settlement - (841) -
Translation adjustment 320 28 -
Transfer (1,261) 1,261 -
Fair value of plan assets as of December 31, 2023 5,657 815 -
Schedule of reconciliation of assets and liabilities recognized in the statement of financial position
           
  Plans in Brazil
  December 31, 2023 December 31, 2022
Movements of assets ceiling Overfunded pension plans Underfunded pension plans Other benefits Overfunded pension plans Underfunded pension plans Other benefits
Balance at beginning of the year 924 - - 876 - -
Interest income 95 - - 83 - -
Changes on asset ceiling (194) - - (89) - -
Translation adjustment 68 - - 54 - -
Balance at end of the year 893 - - 924 - -
             
Amount recognized in the statement of financial position            
Present value of actuarial liabilities (3,152) (272) (389) (2,634) (246) (321)
Fair value of assets 4,045 94 - 3,558 101 -
Effect of the asset ceiling (893) - - (924)    
Liabilities - (178) (389) - (145) (321)
             
Current liabilities - (3) (22) - (3) (16)
Non-current liabilities - (175) (367) - (142) (305)
Liabilities - (178) (389) - (145) (321)

 

  Foreign plan
  December 31, 2023   December 31, 2022
  Overfunded pension plans (i) Underfunded pension plans Other benefits Overfunded pension plans Underfunded pension plans Other benefits
Movements of assets ceiling            
Balance at beginning of the year 190 - - 44 - -
Interest income 8 1 - 1 - -
Changes on asset ceiling and onerous liability 2 (28) - 160 - -
Translation adjustment 5 - - (15) - -
Transfer (27) 27 -      
Balance at end of the year 178 - - 190 - -
             
Amount recognized in the statement of financial position            
Present value of actuarial liabilities (1,365) (846) (759) (2,508) (362) (736)
Fair value of assets 1,611 721 - 2,782 238 -
Effect of the asset ceiling (178) - - (190) - -
Assets (liabilities) 68 (125) (759) 84 (124) (736)
             
Current liabilities - (6) (39) - (7) (40)
Non-current assets (liabilities) 68 (119) (720) 84 (117) (696)
Assets (liabilities) 68 (125) (759) 84 (124) (736)

 

  Total
  December 31, 2023 December 31, 2022
Movements of assets ceiling Overfunded pension plans (i) Underfunded pension plans Other benefits Overfunded pension plans Underfunded pension plans Other benefits
Balance at beginning of the year 1,114 - - 919 - -
Interest income 103 1 - 84 - -
Changes on asset ceiling (192) (28) - 65 - -
Translation adjustment 73 - - 46 - -
Transfer (27) 27 - - - -
Balance at end of the year 1,071 - - 1,114 - -
             
Amount recognized in the statement of financial position            
Present value of actuarial liabilities (4,517) (1,118) (1,148) (5,142) (608) (1,057)
Fair value of assets 5,656 815 - 6,340 339 -
Effect of the asset ceiling (1,071) - - (1,114) - -
Assets (liabilities) 68 (303) (1,148) 84 (269) (1,057)
             
Current liabilities - (9) (61) - (10) (56)
Non-current assets (liabilities) 68 (294) (1,087) 84 (259) (1,001)
Assets (liabilities) 68 (303) (1,148) 84 (269) (1,057)

 

(i) The pension plan asset is recorded as “Other non-current assets” in the financial position.
Schedule of costs recognized in the income statement
                   
  Year ended December 31,
  2023 2022 2021
  Overfunded pension plans Underfunded pension plans Other benefits Overfunded pension plans Underfunded pension plans Other benefits Overfunded pension plans Underfunded pension plans Other benefits
Service cost 16 15 8 45 40 13 10 68 1
Interest expense 322 103 68 325 39 60 196 122 33
Interest income (429) (85) - (412) (17) - (253) (102) -
Interest expense on effect of (asset ceiling)/ onerous liability 103 1 - 84 - - 58 - -
Others 3 10 (2) - - - - - -
Total of cost, net 15 44 74 42 62 73 11 88 34
Schedule of costs recognized in the statement of comprehensive income
                 
  Year ended December 31,
  2023 2022 2021
  Overfunded pension plans Underfunded pension plans Other benefits Overfunded pension plans Underfunded pension plans Other benefits Overfunded pension plans Underfunded pension plans Other benefits
Balance at beginning of the year (124) (45) 62 (93) (92) (172) (101) (400) (363)
Effect of changes actuarial assumptions (468) (130) (44) 784 109 343 330 246 261
Return on plan assets (excluding interest income) 286 44 - (752) (31) - (269) 181 -
Change of asset ceiling 192 28 - (65) - - (60) - -
Others - - (12) (3) - - (5) 3 (4)
 Total 10 (58) (56) (36) 78 343 (4) 430 257
Deferred income tax (3) 19 20 12 (26) (102) 5 (130) (83)
Others comprehensive income 7 (39) (36) (24) 52 241 1 300 174
Translation adjustments (10) (6) (9) (7) (5) (7) 7 8 17
Accumulated other comprehensive income (127) (90) 17 (124) (45) 62 (93) (92) (172)
Schedule of assumptions were adopted
             
  Brazil
  December 31, 2023 December 31, 2022
    Overfunded pension plans Underfunded pension plans Other benefits Overfunded pension plans Underfunded pension plans Other benefits
Discount rate to determine benefit obligation   8.57% - 8.63% 10.15% 8.59% - 8.74% 9.77% - 9.88% 10.66% 9.81% - 9.90%
Nominal average rate to determine expense/ income   8.57% - 8.63% 10.15% N/A 9.77% - 9.88% 10.66% N/A
Nominal average rate of salary increase   3.08% -  4.94% 4.50% N/A  3.50% - 5.36% 6.86% N/A
Nominal average rate of benefit increase   3.08% -  3.60% 4.50% N/A 3.50% -  4.02% 6.86% N/A
Immediate health care cost trend rate   N/A N/A 6.17% N/A N/A 6.35%
Ultimate health care cost trend rate   N/A N/A 6.17% N/A N/A 6.35%
Nominal average rate of price inflation   3.08% 4.50% 3.08% 3.50% 4.25% 3.50%

 

  Foreign
  December 31, 2023 December 31, 2022
  Overfunded pension plans Underfunded pension plans Other benefits Overfunded pension plans Underfunded pension plans Other benefits
Discount rate to determine benefit obligation 4.63% 4.63% 4.64%  5.10%  5.10% 5.14%
Nominal average rate to determine expense/ income 5.10% 5.10% 5.14%  2.84%  2.84% 3.03%
Nominal average rate of salary increase 3.31% 3.31% N/A  3.23%  3.23% N/A
Nominal average rate of benefit increase 3.00% 3.00% N/A 3.00% 3.00% N/A
Immediate health care cost trend rate N/A N/A 4.85% N/A N/A 5.11%
Ultimate health care cost trend rate N/A N/A 4.49% N/A N/A 4.57%
Nominal average rate of price inflation 2.08% 2.08% N/A  2.06%  2.06% N/A

 

For the sensitivity analysis, the Company applies the effect of 1.0% in nominal discount rate to the present value of the Company´s actuarial liability. The effects of this analysis on the Company´s actuarial liability and assumptions adopted are as follows:

 

  Brazil
  December 31, 2023
  Overfunded pension plans Underfunded pension plans Other benefits
Nominal discount rate - 1% increase      
Actuarial liability adjusted for sensitivity test 2,940 262 501
Assumptions made 9.60% 11.15% 9.67%
       
Nominal discount rate - 1% reduction      
Actuarial liability adjusted for sensitivity test 3,399 283 387
Assumptions made 7.60% 9.15% 7.67%

 

  Foreign
  December 31, 2023
  Overfunded pension plans Underfunded pension plans Other benefits
Nominal discount rate - 1% increase      
Actuarial liability adjusted for sensitivity test 1,237 745 677
Assumptions made 5.63% 5.63% 5.65%
       
Nominal discount rate - 1% reduction      
Actuarial liability adjusted for sensitivity test 1,506 957 880
Assumptions made 3.63% 3.63% 3.64%
Schedule of overfunded pension plans
               
  December 31, 2023 December 31, 2022
  Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total
Cash and cash equivalents - 14 - 14 - 55 - 55
Equity securities 261 - - 261 1,115 - - 1,115
Debt securities - Corporate - 396 - 396 1 367 - 368
Debt securities - Government 3,814 361 - 4,175 3,354 435 - 3,789
Investments funds - Fixed Income 1,391 162 - 1,553 1,040 133 - 1,173
Investments funds - Equity 483 1 - 484 455 1 - 456
International investments 59 186 - 245 23 231 - 254
Structured investments - Private Equity funds - 51 72 123 - 188 240 428
Structured investments - Real estate funds - - - - - - 3 3
Real estate - - 235 235 - - 293 293
Loans to participants - - 162 162 -   128 128
Other - - 187 187 - - - -
Total 6,008 1,171 656 7,835 5,988 1,410 664 8,062
Funds not related to risk plans (i)       (2,178)       (1,722)
Fair value of plan assets at end of year       5,657       6,340

 

(i) Financial investments not related to coverage of overfunded pension plans. Funds are related to the Company´s unconsolidated entities and former employees.
Schedule of measurement of plan assets at fair value with no observable market variables
         
   
  Private equity funds Real estate funds Real estate Loans to participants Total
Balance as of December 31, 2021 103 5 212 106 426
Return on plan assets (5) (2) 15 26 34
Assets purchases 10 - 25 280 315
Assets sold during the year (36) - (22) (292) (350)
Translation adjustment 4 - 14 8 26
Transfer between Overfunded pension and Underfunded pension plans 164 - 49 - 213
Balance as of December 31, 2022 240 3 293 128 664
Return on plan assets 5 - 9 22 36
Assets purchases 11 - 8 211 230
Assets sold during the year (6) (3) (16) (210) (235)
Translation adjustment 8 - 18 11 37
Transfer between Overfunded pension and Underfunded pension plans (58) - (18)   (76)
Balance as of December 31, 2023 200 - 294 162 656
Schedule of assets by category
               
  December 31, 2023 December 31, 2022
  Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total
Cash and cash equivalents - 6 - 6 - 2 - 2
Equity securities 112 - - 112 55 - - 55
Debt securities - Corporate - 215 - 215 - 24 - 24
Debt securities - Government 60 150 - 210 46 19 - 65
Investments funds - Fixed Income 41 - - 41 40 - - 40
Investments funds - Equity 8 11 - 19 7 6 - 13
Structured investments - Private Equity funds - - 55 55 - - 8 8
Real estate - - 27 27 - - 6 6
Loans to participants - - 1 1 - - 1 1
Others - - 131 131 - - 125 125
Total 221 382 214 817 148 51 140 339
Schedule of measurement of underfunded plan assets at fair value
           
  Private equity funds Equity pool Real estate Loans to participants Others Total
Balance as of December 31, 2021 181 53 3 1 168 406
Return on plan assets 1 - - - (33) (32)
Assets purchases - - 1 - - 1
Assets sold during the year (2) - (1) - - (3)
Translation adjustment (8) - (2) - (10) (20)
Transfer between surplus and deficit plans (164) (53) 5 - - (212)
Balance as of December 31, 2022 8 - 6 1 125 140
Return on plan assets 4 - - - 3 7
Assets purchases 3 - 2 -   5
Assets sold during the year (19) - - -   (19)
Translation adjustment 1 - 1 - 3 5
Transfer between surplus and deficit plans 58 - 18 -   76
Balance as of December 31, 2023 55 - 27 1 131 214
Schedule of expected benefit payments
     
  Overfunded pension plans Underfunded pension plans Other benefits
2024 275 30 26
2025 277 30 27
2026 279 31 28
2027 280 31 30
2028 281 31 30
2029 and thereafter 1,387 161 167