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Financial assets and liabilities | 6 Months Ended
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Jun. 30, 2025
Notes and other explanatory information [abstract] |
Financial assets and liabilities | 19. Financial assets and liabilities
| a) | Classification
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:
Schedule of financial instruments classification based on its recognition |  |  |  |  |  |  |  |  |
|  | June 30, 2025 | December 31, 2024
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 | 5,514 | – | – | 5,514 | 4,953 | – | – | 4,953
Short-term investments | 21 | – | – | 182 | 182 | – | – | 53 | 53
Derivative financial instruments | 18 | – | – | 419 | 419 | – | – | 53 | 53
Accounts receivable | 10 | 285 | – | 2,040 | 2,325 | 374 | – | 1,984 | 2,358
|  | 5,799 | – | 2,641 | 8,440 | 5,327 | – | 2,090 | 7,417
Non-current |  |  |  |  | – |  |  |  |
Judicial deposits | 26(c) | 598 | – | – | 598 | 537 | – | – | 537
Restricted cash | 13 | 9 | – | – | 9 | 13 | – | – | 13
Derivative financial instruments | 18 | – | – | 284 | 284 | – | – | 15 | 15
Investments in equity securities | 13 | – | 57 | – | 57 | – | 54 | – | 54
|  | 607 | 57 | 284 | 948 | 550 | 54 | 15 | 619
Total of financial assets |  | 6,406 | 57 | 2,925 | 9,388 | 5,877 | 54 | 2,105 | 8,036
Financial liabilities |  |  |  |  |  |  |  |  |
Current |  |  |  |  |  |  |  |  |
Suppliers and contractors | 12 | 5,454 | – | – | 5,454 | 4,234 | – | – | 4,234
Derivative financial instruments | 18 | – | – | 116 | 116 | – | – | 197 | 197
Loans and borrowings | 21 | 685 | – | – | 685 | 1,020 | – | – | 1,020
Leases | 22 | 175 | – | – | 175 | 147 | – | – | 147
Liabilities related to the concession grants | 13(a) | 539 | – | – | 539 | 467 | – | – | 467
Other financial liabilities - Related parties | 29 | 193 | – | – | 193 | 291 | – | – | 291
Other financial obligations | 13 | 197 | – | – | 197 | 317 | – | – | 317
|  | 7,243 | – | 116 | 7,359 | 6,476 | – | 197 | 6,673
Non-current |  |  |  |  |  |  |  |  |
Derivative financial instruments | 18 | – | – | 112 | 112 | – | – | 428 | 428
Loans and borrowings | 21 | 16,461 | – | – | 16,461 | 13,772 | – | – | 13,772
Leases | 22 | 524 | – | – | 524 | 566 | – | – | 566
Participative shareholders' debentures | 20 | – | – | 2,454 | 2,454 | – | – | 2,217 | 2,217
Liabilities related to the concession grants | 13(a) | 2,092 | – | – | 2,092 | 1,887 | – | – | 1,887
Other financial obligations | 13 | – | – | – | – | 32 | – | – | 32
|  | 19,077 | – | 2,566 | 21,643 | 16,257 | – | 2,645 | 18,902
Total of financial liabilities |  | 26,320 | – | 2,682 | 29,002 | 22,733 | – | 2,842 | 25,575
b) Hierarchy of fair value
Schedule of assets and liabilities measured and recognized at fair value |  |  |  |  |  |  |  |  |
|  | June 30, 2025 | December 31, 2024
| Notes | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total
Financial assets |  |  |  |  |  |  |  |  |
Short-term investments | 21 | 33 | 149 | – | 182 | 53 | – | – | 53
Derivative financial instruments | 18 | – | 703 | – | 703 | – | 68 | – | 68
Accounts receivable | 10 | – | 2,040 | – | 2,040 | – | 1,984 | – | 1,984
Investments in equity securities | 13 | – | 57 | – | 57 | – | 54 | – | 54
|  | 33 | 2,949 | – | 2,982 | 53 | 2,106 | – | 2,159
Financial liabilities |  |  |  |  |  |  |  |  |
Derivative financial instruments | 18 | – | 228 | – | 228 | – | 625 | – | 625
Participative shareholders' debentures | 20 | – | 2,454 | – | 2,454 | – | 2,217 | – | 2,217
|  | – | 2,682 | – | 2,682 | – | 2,842 | – | 2,842
There were no transfers between levels 1, 2 and 3 of the fair value hierarchy during the period presented. c) Fair value of loans and borrowings
Schedule of fair value and carrying amounts of loans and financing |  |  |  |
| June 30, 2025 | December 31, 2024
| Carrying amount | Fair value | Carrying amount | Fair value
Quoted in the secondary market: |  |  |  |
Bonds | 7,683 | 7,725 | 7,267 | 7,245
Debentures | 2,368 | 2,347 | 1,272 | 1,275
Debt contracts in Brazil in: |  |  |  |
R$, indexed to TJLP, TR, IPCA, IGP-M and CDI | 156 | 156 | 185 | 185
Basket of currencies and bonds in US$ indexed to SOFR | 152 | 160 | 152 | 155
Debt contracts in the international market in: |  |  |  |
US$, with variable and fixed interest | 6,722 | 7,014 | 5,844 | 5,922
Other currencies, with fixed interest | 56 | 58 | 63 | 64
Other currencies, with variable interest | 9 | 8 | 9 | 8
Total | 17,146 | 17,468 | 14,792 | 14,854

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